No one likes to pay taxes, but most Americans understand our country is stronger because we collectively fund our national priorities. But we shouldn't be asking constituents to sacrifice unnecessarily for a counterproductive war.
Nobel Prize-winning economist Joseph Stiglitz, says "Obviously a house divided can't stand -- you start getting tensions, you start not paying attention to the things that make us cohesive as a nation."
As INET Executive Director Rob Johnson said, "last year's conference punctured the mystique of market stability (not to mention real events). This year, the conference will shatter the illusion of control."
A signature feature of the shadow lobbyist era is not just a manipulation of public policy, but also an embrace of "failing upward". No matter the track record, the elite 1 percent seek more of the same.
The delusion of a classless America in which opportunity is equally distributed is the most effective deception perpetrated by the moneyed elite that controls all the key levers of power in what passes for our democracy.
There is large consensus among economists for the long run: central banks will focus on more than just inflation, especially financial stability; but there will be a real challenge in developing an integrated approach.
Without principal reduction, we'll see millions more foreclosures. And, contrary to the bizarre arguments put forth by Treasury Secretary Tim Geithner and others, that won't stabilize communities, it will destroy them.
It's worth pondering what Stiglitz said in his interview with Daily Finance. The heart of it really had very little to do with economics, and a lot to do with the law and politics, as Stiglitz himself admits.