The new breastans ref article from the economist 1222

Good morning Kamal,

After almost 3 years in which I actually said the same thing and you always countered with stupid corporate propaganda ............................. you post an article that said exactly what I keep telling you over and over again :-)

Kamal R. Prasad

Of course. And reading my example about robots instead of Indians provided a very clear explanation why is that and why the redistribution of the wealth generated by globalization it is mandatory for a stable society.

Health care, retirement and university education-research must be provided as government services to insure a stable society. It is 3 years from when I started telling everybody that European countries are much better prepared to handle the globalization than the US.

Well, finally you guys started to figure it out. Better later than never.

Nieeeeehhh !!! That is just part of corporate propaganda. Sales tax and increasing taxes on dividends and capital gains can do the trick.

That will be the optimistic situation. A very optimistic one indeed.

In a way worst (but more likely) situation a depression will come as we never seen in our lifetime. Depressions (aka "super production" crises) are generated due to lack of enough Consumer Debt disposable income to keep spending along an incoming recession and they reflect a disfunctional economy. And getting out of a depression can not be done without a strong reform of the system to share more equally the wealth.

But there is an even worst case scenario than that. Instead of an FDR being in house when a depression hit there can be a fanatic corporate sockpuppet. Instead of reforming the economy, he will hang on his "free market" hallucinations until a large number of persons get desperate. When people gets desperate they are willing to take desperate actions. And when enough people are willing to get desperate actions you get a revolution.