USSRA-United Socialist State Republic Of America

Nouriel Roubini shares my outrage at the Bush/McCain Corporate Welfare boondoggle.

Like scores of evangelists and hypocrites and moralists who spew and praise family values and pretend to be holier than thou and are then regularly caught cheating or cross dressing or found to be perverts these Bush hypocrites who spewed for years the glory of unfettered wild west laissez faire jungle capitalism (and never believed in any sensible and appropriate regulation and supervision of financial markets) allowed the biggest debt bubble ever to fester without any control, have caused the biggest financial crisis since the Great Depression and are now forced to perform the biggest government intervention and nationalizations in the recent history of humanity, all for the benefit of the rich and the well connected. So Comrades Bush and Paulson and Bernanke will rightly pass to the history books as a troika of Bolsheviks who turned the USA into the USSRA. Fanatic zealots of any religion are always pests that cause havoc and destruction with their inflexible fanaticism; but they usually don’t run the biggest economy in the world. But these laissez faire voodoo-economics zealots in charge of the USA have now caused the biggest financial crisis since the Great Depression and the nastiest economic crisis in decades. So let them be shamed in public for their hypocrisy and zealotry that has caused so much financial and economic damage.

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0 Responses to USSRA-United Socialist State Republic Of America

  1. Valerie Curl says:

    I have only one small objection to your headline. We’re not becoming a socialist republic…but rather an oligarchy.

  2. Alex Bowles says:

    Wow, that’s quite a rant. Too bad it’s totally detached from reality.

    This is not to say that the economic outlook of Bush et. al. isn’t highly dubious. But to say that the current meltdown is simply a product of GOP free-market fanaticism is just plain wrong.

    The Democrats – and Barney Frank in particular – have as much to do with the meltdown at Freddie and Fannie as anyone. In fact, had Bush been a little more devoted to his alleged free-market principles, guys like Frank would never have gotten the amount of rope we’re all being hung with.

    Of course, Bush never had any respect for free-market principle at all, as was made explicitly clear early in his term when he just about started a international trade war over steel tariffs (not to mention a serious backlash from domestic steel consumers doing their level best to maintain a domestic manufacturing base).

    Far from a fanatic devotion to free-market principle, Bush represents the total absence of any principle at all. It’s not capitalism. It’s just plain cronyism.

  3. Jon Taplin says:

    Valerie- I agree. It was Roubini’s title, not mine

  4. Rick Turner says:

    Valerie, I like to use the term “oiligarchy”. Kills two birds with one stone…

    The extension of dubious credit to iffy payback customers had nothing to do with making housing affordable or making credit available to a wider range of people in the form of credit cards; it had everything to do with back door usury.

  5. len bullard says:

    I like the term “Piggies”. It has a nice beat and you dance to it or whistle it when one walks by.

    One night the local men in blue rousted a longhair club where I was the soloist. I was 18. They claimed they had a bomb threat but locked the doors with us on the inside, then told me I had to leave the stage and help look for the bomb while they lined the walls looking for someone to panic. They were looking for drugs of course, but had no warrant. As I walked from table to table looking inside purses, I whistled a phrase, then moved to the next purse and whistled the next phrase smiling at the women. The patrons who knew the song slowly began to titter, then went berserk wth laughter. The uniformed officers and detectives were confused. They couldn’t understand why one moment the room was afraid of them and the next moment was laughing.

    True story. I was a hero in the university cafeteria the next day.

    It’s in the way that you use it. Rage doesn’t help. Humor does. Moms Mabley and Richard Pryor did more for race relations than Eldredge Cleaver. We need a new generation of comics to do to our fatcats what Monty Python did to theirs.

    “Clutching forks and knives to eat the bacon”

  6. Seth says:


    This is really about the prospect of VP Palin, isn’t it? Other than being too generous to equityholders and crappy execs, what’s so bad about de-privatizing the GSE’s? I guess for me the nasty part is how they get away with BOTH shouting ‘socialist!’ at Obama AND helping themselves to socialist policy choices when they’re popular and arguably necessary. Total ‘Alice In Wonderland’ disconnect between electioneering and policy-making. Whatever keeps the oligarchs in power.

    Hang in there. This can’t go on forever 😉

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