Recession, Depression, Collapse: What’s Fear Got To Do With It? By Carolyn Baker

Dandelion Salad

By Carolyn Baker
Speaking Truth to Power
Friday, 11 April 2008

Interesting, isn’t it, that mainstream economists need a so-called economic guru like Alan Greenspan to confirm that the U.S. economy is in recession? If the maestro says it is so, then it is. If he doesn’t, then the “downturn” has a silver lining. And now we have the Treasury Secretary, Hank Paulson, stating what the American public has known all too well during the past year: “The economy has taken a sharp downturn.” Gee, Mr. Paulson, you get the understatement of the year award because what Americans have also discovered is that the middle class is now almost extinct after only a few decades of having one-thanks to you and your friends at Goldman Sachs.

No one walking away from a foreclosed home, no one declaring bankruptcy, no uninsured person staring in the face tens or hundreds of thousands of dollars in medical bills needs a maestro or any other member of the ruling elite to tell them that not only are we in a recession, but we are on a fast-track to a depression that is going to make 1929 look like living in the lap of luxury. It’s called the collapse of Western civilization, and it is well underway.

Oh, you don’t like my use of the word “collapse”? Then please listen up.

…continued

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