Bill Moyers Journal (Watch & Listen)
Few in 2008, presidential candidate or otherwise, need to be reminded that "it's the economy" people are worried about. Some in the press are sounding grim — noting that there might be more to this situation than a "self-correction" can contain. THE ECONOMIST noted a difference in spring 2008: "The Federal Reserve offered emergency funding to the investment banks for the first time since the 1930s, and there were bank bail-outs in Britain and Germany too."
Veteran Journalist William Grieder thinks that we're not witnessing a temporary financial hiccup, but rather at the dawn on "Wall Street's great deflation."
Veteran Journalist William Grieder thinks that we're not witnessing a temporary financial hiccup, but rather at the dawn on "Wall Street's great deflation."
If Washington wants real results, it has to abandon the wishful posture that is simply helping the private firms get over their fright. The government must instead act decisively to take charge in more convincing ways. That means acknowledging to the general public the depth of the national crisis and the need for more dramatic interventions. "Wall Street's Great Deflation"
Now THE NATION's National affairs correspondent, William Greider has been a political journalist for more than thirty-five years. A former ROLLING STONE and WASHINGTON POST editor, he is the author of the national bestsellers ONE WORLD, READY OR NOT, SECRETS OF THE TEMPLE, WHO WILL TELL THE PEOPLE and, most recently, THE SOUL OF CAPITALISM.
