Saturday, September 15, 2007

Rock the casbah

The banking crisis is starting to get panicky now, particularly with everyone queuing up to get their money out of Northern Rock. We can only hope it doesn't presage a full scale run on the banks, a symptom / cause of the 1929 crash.

Of course, if you revert the politico-economic system to that of the 1920's, you hit Marx's saying about those who fail to understand history. Incidentally, do economists never study economic history?

The 30s saw a depression that was only mitigated by government spending, particularly the New Deal in the USA, but only fully conquered by the outbreak of world war 2.

What a coincidence then, according to Whitehouse / Pentagon insiders, Bush plans to attack Iran next year, his last year in office.

For all that they call themselves 'neo-cons', they're tired old men peddling tired old ideas. Trouble is, they're dangerously close to the big red button.


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