Wednesday, September 05, 2012

economic basics - observations from Ian Welsh

In particular, one caught my eye.  This observation illuminates an extremely effective oligarchy-enhancing policy mechanism:

Austerity is a means by which the rich can buy up assets which are not normally on the market for cheap.

For Ian's full post, see: http://www.nakedcapitalism.com/2012/09/some-basics-on-the-economy.html    Warning: kinda sobering.