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With respect to the machinations of the banking system bailouts and the changing role of the Federal Reserve in the USA, I am seeingmore and more comments like the following short blog post at Eschaton:
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In many ways massive inequality is a symptom of an unjust system rather than something to be considered about in and of itself.
Still, as we’ve seen recently it’s rather obvious a wealthy class has managed to capture the apparatus of government for its own financial benefit.
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I’d argue that generally people should have seen this coming.
Paul Krugman wrote a detailed analysis and forecast about the real possibility of this colonization of the financial landscape in the USA back in October 2002 in a New York Times Sunday Magazine titled "For Richer … "
In case you read the article at the link … long article alert.
But it is worth your time and attention, in my opinion.
I’m a bit strange … I kept a copy of the Sunday Times magazine in which the article appeared, and I know exactly where the magazine is in my storage room.
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