Pushing Crisis: GOP Cries Wolf on Debt Ceiling In Order To Impose Radical Pro-Rich Agenda

Two things are becoming more & more clear as President Obama & Congress come to an agreement on how to resolve the current manufactured "debt limit" crisis. First, the corporate oligarchy is following the same historical pattern that Naomi Klein demonstrated so masterfully in The Shock Doctrine. After either a real or manufactured crisis - like the Aug. 2nd deadline to raise the debt limit - is created, the corporate oligarchy takes advantage of the shocks that emanate from the crisis to further enrich & empower themselves. This is, of course, enabled by the corporate-owned politicians & media. And that's effectively what Prof. Michael Hudson argues in this episode (7/22) of Democracy Now. He says:

What's happening across the world is an attempt by the financial sector to really make its move. ... This is their opportunity for a power grab...to carve up the public domain & give themselves enough money, they're taking the money & running,,,, The only question is how much can they take & how fast.

The other thing we're learning is much more about President Obama and his role in all this. Sometime ago, it was suggested that if there were still progressive Republicans, Obama would be a Republican. Michael Hudson says:

You could see it all coming before Mr. Obama took office when he appointed the Deficit Reduction Commission. He appointed opponents of social security [like] Republican Senator Simpson, Bowles, Clinton's Chief of Staff. Obama really believes in trickle down economics. He believes that Wall Street [are] job creators, not downsizers And outsourcers and foreclosers. That's the tragedy of all this. Now the question is how can a Democratic president put forth a Republican program? In reality there has to be a crisis [when] in reality there is no crisis at all.

Pushing Crisis: GOP Cries Wolf on Debt Ceiling In Order To Impose Radical Pro-Rich Agenda

What do Obama, the Gang of Six and Paul Ryan have in common by Jack Rasmus (Truthout)