“In the name of global economic rebalancing and reform at home, the Obama administration is seeking to cut the consumption of the working class, slash production costs and drive up US exports.
“This amounts to subjecting American workers to the type of economic ‘shock therapy’ that the US-dominated International Monetary Fund has prescribed for a host of indebted Third World countries over the past quarter century. Currency devaluation, accompanied by cuts in state expenditure for social services and the use of mass unemployment to drive down wages and increase exploitation—these are the methods that are now being employed against the American working class.”
“This amounts to subjecting American workers to the type of economic ‘shock therapy’ that the US-dominated International Monetary Fund has prescribed for a host of indebted Third World countries over the past quarter century. Currency devaluation, accompanied by cuts in state expenditure for social services and the use of mass unemployment to drive down wages and increase exploitation—these are the methods that are now being employed against the American working class.”
-- Barry Grey
World Socialist Web Site -- 22 Oct 2009
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"Let me tell you what Adolf Hitler did when he came to power... he cut taxes for the rich, he increased corporate subsidies and corporate profits, he destroyed labor unions, he increased armament spending, he pursued wars of aggression, he privatized the public sector."
Now does any of that sound familiar?
"it can happen in different ways in different political cultures but you're operating for the same things: which is to keep the hegemonic power of that society in tact."
--- Michael Parenti (PHD Political Science Yale 1962)
Jan 2008
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"The theory of economic shock therapy relies in part on the role of expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages."
World Socialist Web Site -- 22 Oct 2009
-------------
"Let me tell you what Adolf Hitler did when he came to power... he cut taxes for the rich, he increased corporate subsidies and corporate profits, he destroyed labor unions, he increased armament spending, he pursued wars of aggression, he privatized the public sector."
Now does any of that sound familiar?
"it can happen in different ways in different political cultures but you're operating for the same things: which is to keep the hegemonic power of that society in tact."
--- Michael Parenti (PHD Political Science Yale 1962)
Jan 2008
-----------------
"The theory of economic shock therapy relies in part on the role of expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages."
— Naomi Klein (The Shock Doctrine: The Rise of Disaster Capitalism)
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