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I notice how they're still holding to the "nobody could have expected.." lie that has been discredited loads of times.

Memeo to Washington; loads of people anticipated, you just didn't want to listen to anybody who said things you preferred not to hear. You know that and we know you know that. So enough with the bs already. People antipated but you didn't do your job.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Sun Jul 5th, 2009 at 04:56:08 PM EST
[ Parent ]
those that did predict the crisis were nobodies because, precisely, they were warning about the crisis...

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Sun Jul 5th, 2009 at 05:18:22 PM EST
[ Parent ]
I agree with the subtext, but one of the big advances on the progressive/left front is that the economist profession has given an U-turn, and now this statement is no longer true.

Now, Krugman, Stiglitz, De-Long, Shiller, Kuttner, Roubini, Baker, and even Wolf are the big kids of the "blog". They are the people who are considered "to know" .. all of them against the rational market Chicago-school bs,all of them warning against a huge shadow banking system, all of them supporting massive income redistribution and government intervention...

They are the serious guys... and by serious I do nto mean that the wing-nuts of the Post and edittorial page of WSJ take them seriously.. I mean that the people with money , with real money on the line look at them when they want to know if their asses will be saved. They are lsitened to when you want to know what to do to save the rich asses from a great depression.

A pleasure

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Mon Jul 6th, 2009 at 06:36:33 AM EST
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