A right-wing economist admits that the conservative elite was never interested in recovery after the Bush Depression. Instead, they wanted a "Mellon-esque" liquidation. Mellon, a former robber baron, was Hoover's Sec. of Treasury who recommended that everything be sold off to get rid of the "rot" (his solution to the Great Depression). Fortunately, Hoover did not follow his recommendations.
A Mellon-esque liquidation with homes, businesses, personel possessions being sold off at fire sale prices would have destroyed the middle-class in the country for a couple of generations and ushered in some sort of right-wing authoritorian government, so, in a sick kind of way it makes sense.
All the opposition to Obama's programs for the last six years had nothing to do with principles or economics, it had to do with gutting the American economy and acquiring political power.
http://krugman.blogs.nytimes.com/2015/04/03/john-galt-hates-ben-bernanke/?_r=0
A Mellon-esque liquidation with homes, businesses, personel possessions being sold off at fire sale prices would have destroyed the middle-class in the country for a couple of generations and ushered in some sort of right-wing authoritorian government, so, in a sick kind of way it makes sense.
All the opposition to Obama's programs for the last six years had nothing to do with principles or economics, it had to do with gutting the American economy and acquiring political power.
http://krugman.blogs.nytimes.com/2015/04/03/john-galt-hates-ben-bernanke/?_r=0
