Thursday, October 9, 2008
Existence Pain to Decrease?
McCain has no chance. The battle cry, the ideological core, the mantra, the cri de coeur of the Republicans year after year has been deregulation of industry and it is deregulation that has caused the present financial crisis. The top headline in today's NYTimes: "U.S. MAY TAKE OWNERSHIP STAKE IN BANKS TO EASE CREDIT CRISIS." Excellent. This could be the first step in a shift from capitalism to socialism in this country. Under socialism, industries are nationalized by the federal government and operated to serve the public interest rather than the bank accounts of ownership elites. Commodities are produced not for profit but for use. Social justice becomes a reality, not a dream, and the existence pain of the general population decreases. So if this financial crisis compels the U.S. to turn to socialism in order to survive, it is a crisis with a magnificent satin lining.