The Shame Sets In

By: Wednesday August 3, 2011 8:02 am

[caption id="attachment_19759" align="alignnone" width="500" caption="Signing the Budget Control Act of 2011 on Aug. 2, 2011"]Signing the Budget Control Act on Aug. 2, 2011[/caption]

Where are all the proud sponsors usually in the background at the signing of a major piece of legislation?

Rating Agencies, Catfood Commission II and the Next Stage of Shock Doctrine

By: Wednesday July 27, 2011 9:00 am

Although the debt ceiling fight isn’t over yet, it is now clear it won’t be the excuse President Obama wanted to justify quickly jamming through an austerity grand bargain. As much as Obama desperately tried to use this artificial crisis to justify cutting Social Security and Medicare in a secret deal, that opportunity slipped through [...]

Wall Street’s Enforcers: Standard and Poor’s Imposes Shock Doctrine 2.0

By: Tuesday July 26, 2011 9:23 am

So say goodbye to your zoos, your parking meters, your bridges and your schools. Your airports, your harbors and your highways. The American public has an enormous investment in these things. But just as certainly as James Duke’s tobacco trust forced farmers to sell tobacco for less than it cost to grow, just as Russia was forced to sell its airport to the oligarchs and Poland was forced to sell its factories, so our municipalities and states and the federal government itself will be “forced” by a manufactured crisis to sell our assets off to private equity firms who are licking their chops at the prospect of owning America outright.

If you’re not outraged you should be. What Debbie did to Dallas, Standard and Poors is doing to you.

Wisconsin’s Walker Just Following Obama-McConnell Shock Doctrine Playbook

By: Friday February 18, 2011 2:23 pm

There is justifiably a lot of angry attention drawn to the fact that Wisconsin didn’t really have a budget problem until Republican Governor Scott Walker artificially created one by rushing through a series of business tax cuts. Now, in a classic shock doctrine fashion, he is using this manufactured “crisis” to justify his push to [...]

Bye, Bye Miss American Pie: 2011

By: Monday January 3, 2011 9:32 am

As we look forward into the new year, and the looming state budget crises, what should we anticipate?

Tom Ferguson told me last year that the “powers that be” were going to start forcing states to sell off their assets in order to plug their budget holes. It’s the next phase of disaster capitalism, the equivalent of the IMF forcing countries to sell off their airports and their factories to private companies in order to qualify for relief:

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