Image by Ed Yourdon via FlickriThe ruling class just can’t let it go. They bailed out the banksters and their bondholders; they bailed out the UAW and state bureaucracies; they made us perpetual cash cows for Big Pharma and Big Insurance; and yet...you still complain about bailouts and deficits. What’s your problem? Our wise and benevolent rulers saved us from fighting in the streets over scraps of rat meat, but you’re still not grateful. What gives?
Not to worry. Now we know (if there were ever any doubt), that TARP and the “stimulus” and all the various bailouts helped prevent a "Second Great Depression." According to an article from the NY Times, Alan Blinder of Princeton and Mark Zandi, Chief Economist at Moody’s, have proven “empirically” that the bailouts worked. Even though the bailouts were politically unpopular, and even though there is still a great deal of “populist” anger about them, Blinder and Zandi have shown us the “wisdom” of the bailouts, and proved conclusively that our rulers saved us all from financial and economic armageddon. Of course, there’s just one little problem with this narrative: Blinder and Zandi have done no such thing. For all their charts, appendices and footnotes, they’ve proven nothing whatsoever. Nada. Zip. What they have done, however, is puke up a pretty little piece of bailout propaganda when the ruling class needed it most.
Read more: http://www.businessinsider.com/propaganda-...l#ixzz0vUfrHC00