Revenge of the Left across the world

Ambrose Evans-Pritchard
London Telegraph
Monday, Nov 3, 2008

It is not just that the Democrats will win a crushing victory in both houses of Congress, perhaps reaching the 60-seat Senate threshold that lets them steam-roll legislation. It is also that the incoming class of 2008 is of a new creed. Many no longer believe – or actively reject – the free trade and free market catechisms.

As commentator Markos Moulitsas put it in Newsweek: “The big question is, will Democrats nationwide simply ‘win’ the night–or will they deliver an electoral drubbing so thorough that it signals the utter rejection of conservative ideology and kills the notion that America is a ‘center-right’ country?” he said.

No matter that statist policies were responsible for this global crisis in the first place. It was Western governments that set interest rates too low for too long, encouraging us all to abuse credit.

It was Eastern governments that held down their currencies to pursue mercantilist trade advantage, thereby accumulating vast foreign reserves that had to be recycled. Hence the bond bubble. This is the deformed creature known as Bretton Woods II. Protectionist Democrats are right to complain that the game is rigged. Free trade? Laugh on.

(Article continues below)

But at this point I have given up hoping that we will draw the right conclusions from this crisis. The universal verdict is that capitalism has run amok.

In any case the damage caused as credit retrenchment squeezes real industry is likely to be so great that Barack Obama may have to pursue unthinkable policies, just as Franklin Roosevelt had to ditch campaign orthodoxies and go truly radical after his landslide victory in 1932. Indeed, Mr Obama – if he wins – may have to start by nationalizing the US car industry.

For those who missed it, I recommend Edward Stourton’s BBC interview with Eric Hobsbawm, the doyen of Marxist history.

“This is the dramatic equivalent of the collapse of the Soviet Union: we now know that an era has ended,” said Mr Hobsbawm, still lucid at 91.

“It is certainly greatest crisis of capitalism since the 1930s. As Marx and Schumpeter foresaw, globalization not only destroys heritage, but is incredibly unstable. It operates through a series of crises.

“There’ll be a much greater role for the state, one way or another. We’ve already got the state as lender of last resort, we might well return to idea of the state as employer of last resort, which is what it was under FDR. It’ll be something which orients, and even directs the private economy,” he said.

Full article here

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5 Responses to “Revenge of the Left across the world”

Mister Jimmy Says:
November 3rd, 2008 at 2:37 pm
If a progressive regime happens to come to power anywhere in the world, their key leaders are usually bought off by the US. If this doesn’t work, their upper echelons are taken out, as happened to Allende and as was planned for Castro. ( Here at home, Kennedy was a tad too progressive and was taken out as well.) It will be business as usual when Obama takes over. He has gone out of his way to appease the military machine, telling them he plans to draft our kids so they can die in Afghanistan just as volunteers-for-Israel are doing now, but on a much larger scale after Obama moves into the White House.
Senslesness Says:
November 3rd, 2008 at 5:08 pm
The people we elect are going into positions that tempt them into absolute evil, and for a time i think aassholes who are evil will at the least force a good intended person to act on anothers will for evil. Its obvious what s happening in america. Were being fucked over by communist whorefucks and irresponsible stupid morons who can only get mad when someone opposes them without observing a slight bit of reality and history in constrast or comparison.

America fucking rocks your mothers face of bitches. I hate a lot of control freaks who ruin it for the populace with oppression, as equally as i hate the thug culture born out of racially motivated spite, well earned might i add by the liars in power and the structure they built out of peoples ignorant ways.

But now were here..fucking yay let me get out my party suit.

Dont vote mcain, Dont vote obama,..

Write in Ron Paul

Deny your mercury treatments if offered..

and tell anyone who says anything opposite of real Americana..which is neither choice currently..

to kindly leave..
OnePissedOffDude Says:
November 3rd, 2008 at 5:35 pm
I’m with Senselessness!

Praise the Lord & Pass the Ammunition…You dont know what this love is all about.
–Serj Tankien
timmy Says:
November 3rd, 2008 at 6:23 pm
im with senselessness too, esp this bit:

“America fucking rocks your mothers face of bitches.”

wahahahahah AMERICA! FUCK YEAH!
Mousellini Says:
November 4th, 2008 at 12:00 am
November 3, 2008 (LPAC)–While invoking the honored name of Franklin Delano Roosevelt, yesterday’s Sunday Telegraph–a.k.a. the ‘Torygraph,’ proposes a series of decidedly non-FDR, pro-Keynesian measures a new President of the U.S. should take. The proposal focuses on “the five Cs: capital, credit, confidence, change (of the regulatory variety) and closure,” while managing to leave out the all-important sixth “C”. Now that the bailout is under way, the new President should create “a climate of confidence” in the financial markets, and restructure the “outdated and outmoded” regulatory system by creating “one super-regulator” attached to the Fed.

These measures are explicitly fascist, which leads us to the unspoken sixth “C”, for CORPORATISM. John Maynard Keynes, later Baron Keynes, explicitly endorsed fascist economics in the preface to his 1937 German-language edition of his “General Theory of Employment, Interest and Money.” Keynes wrote in his foreword that his theory were best “adapted to the conditions of a totalitarian state,” an admission which was not included in the English-language versions of his book. It is this overtly fascist Keynesian view that the British are pushing under the guise of a New Bretton Woods, in direct opposition to a return to the nation-building philosophy of FDR. One could truthfully argue that the British approach is actually the three Cs, corruption, criminality, and corporatism.

For more on the 6th C, check out LPACTV: What is Corporatism?
http://www.larouchepac.com/new.....xth-c.html