Thursday, February 05, 2009


William Pfaff, reporting from Davos, summarizes the current global mood:
The American economic model of deregulated market capitalism, dominant today in the U.S. and the rest of the industrial world, cited as a vehicle of human progress, proves under examination to have been in significant part an affair of swindle, personal enrichment, looted third world nations, international and national crime conspiracies, bank robbery and Ponzi schemes, criminal real estate practices, environmental and institutional rip-offs, and official corruption.
How flat now, Tom?

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