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The Evolution of Greed, or How You Will Be Made To Pay, Again...
As described by his bio, Jeff Madrick is a regular contributor to The New York Review of Books and a former economics columnist for The New York Times.
Editor of Challenge Magazine, visiting professor of humanities at The Cooper Union, and senior fellow at the Roosevelt Institute and the Schwartz Center for Economic Policy Analysis, The New School, Madrick's recent book "The Case for Big Government", was named one of two 2009 PEN Galbraith Non-Fiction Award Finalists, Madrick now has a new book out just published titled "Age of Greed, The Triumph of Finance and the Decline of America, 1970-Present".
Tighten your belt a notch or two. In the first of a multipart interview Madrick talks here with Paul Jay of The Real News Network discussing the US Government deficit, the debt "ceiling", the growing jobs crisis, whether or not to cut government spending and services, the Obama administrations actions, and points out the artificiality of the so called "debate" that has led to the deficit becoming the "problem" that the administration and the government will 'deal with' rather than unemployment or the stagnant economy - thereby virtually guaranteeing that - shades of Greece and austerity - it will be you who will pay for the economic collapse - stating that:
Well, it's not an economics debate. It's political showmanship, a carnival, I think, mostly the Republicans trying to get the edge. But Obama threw in the towel on the essence of this argument some time ago, when he agreed that balancing the budget was a primary goal of his administration earlier rather than later. Once he gave in on that, by naming the Bowles-Simpson commission to come up with a plan, he was going to start losing the debate.
Age Of Greed
Jeff Madrick, author of Age Of Greed, the Triumph of Finance and the Decline of America, 1970 to present discusses the roots of the current crisis
...full transcript here...