Sunday, September 21, 2008

Profits and Socialism



In the past two weeks, Nouriel Roubini, economics professor at NYU, has been lashing out at the Bush administration on his blog. He calls the President, Treasury Secretary and Fed Chairman "comrades Bush, Paulson and Bernanke" and brands them as "laissez faire voodoo-economics zealots." He says the United States has turned into the "United Socialist State Republic of America," bringing "socialism for the rich, the well-connected and Wall Street" and making sure that "profits are privatized and losses are socialized." I hope all of us understand these words - they are so true. Is anyone listening?