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The Forum > Article Comments > A social democratic response to the Great Depression of 2008 > Comments

A social democratic response to the Great Depression of 2008 : Comments

By Ken McKay, published 19/3/2009

We are staring into the abyss while deluding ourselves that the world’s economists will conjure up some magic.

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The third estate is getting fed up ... when protestors are labeled 'anarchist' by spin doctors fed corporate media, given the G20 focus on banksters rather than the people, climate change, and the police incompetently obliges ... (Google: BBC, policing, concerns, G20)

Is our democracy the worst form of government except for all others? Communism does not work, and neither does Bush/ HoWARd era extreme, and unregulated capitalism of the God loves investment bankers kind. Policies that leave all the profit with the haves, and all the risk with the public surely have been proven to be not sustainable. Empires and (quasi) monopolies limit choice.

How about some fact-based and socially acceptable policies for a change?

Switzerland and Singapore come to mind as countries where a skilled bureaucracy is not constantly battered into stupidity from lefty or conservative politicians focused on the next election, but actually chart a course beyond the elections. Why not turn democracy into direct democracy with more non-advisory referenda over key choices. Collectively the people are very smart (and like a jury in court can smell a liar).
Let's see, a vote on spending money on a local hospital vs a privately owned bank ...

But let's make this local. The NSW 2007 election saw the lesser of two evils stay in power, despite failings over transport and health care and plans to take utilities private.
Now, Premier Rees is faced with a utility too focused on (Government) shareholders and insufficiently on customers, employees and the environment.
And when it comes to education, the Premier buys expensive software from Microsoft to run on student notebooks ... have things gotten any better since the most recent election?

Putting all this on the global financial crisis may be politically expedient, but it certainly does not do much for jobs, the environment, education, transport, power (an energy revo using solar, wind, fuel cells, nuclear is possible but not from centralised utilities), communications (Conroy is about censorship not leveraging ICT) or health care.

Let them eat cake attitudes did very little for Louis and Marie-Antoinette between 1789 - 1793.
Posted by MX, Sunday, 5 April 2009 8:52:47 AM
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14,000/7,000

Seems be true again. Let's hope so. The intersting thing is that the floor seems to be a psychological base, given the reasons for all major falls are not linked, to suggest a sound rationale behind the bounces. The GD was the only exception.

Aside: Some years back when reseaching the GB and reading the papers of the time at the NSW State Library, I found early blame for the Stock Crash was leveled at the ticker-tape operators for not keeping up with the high volume of trades.
Posted by Oliver, Sunday, 19 April 2009 11:48:59 PM
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