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View Diary: Jack Lew and the premature descent from heaven: A tale of the American nomenklatura (89 comments)

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  •  We should be doing something about (3+ / 0-)
    Recommended by:
    chuckvw, shaharazade, midwesterner

    ..America's version of the Boyars.

    No, I don't speak a word of Russian, just picked it up yesterday from a decent read - Putin's Labyrinth by a journalist named Steve Levine.

    Can't help but continually notice the stark similarities between their oligarchs and ours.

    Should have seen them tossing money around and bidding on the original Bat-mobile from the campy '60s TV series yesterday. Whimsical purchases apparently stop being whimsical at $4.2 million.

    The Aggressively Ignorant Caucus is getting aggressively ignorant again.

    by Anthony Page aka SecondComing on Sun Jan 20, 2013 at 11:12:39 AM PST

    •  Russian and US oligarchs created by same (2+ / 0-)

      neo-liberal economic policies.  Unsurprising the outcome is similar.

      See this paper by Michael Hudson.

      Today’s [Russian] economic polarization was planned at the outset, in the logic spelled out at the 1990 Houston Summit. Neoliberals were given a free hand in designing the post-Soviet economies, and they had no intention of creating a Western style mixed economy with progressive taxation and anti-monopoly regulation. The very idea was anathema to them. The ensuing dismantling of industry and asset stripping throughout the former Soviet Union stands as an indictment to the advice they gave.

      When a government pursues impoverishing economic policies for a sustained length of time, there always are special interests at work.

    •  And (1+ / 0-)
      Recommended by:

      per Hudson above

      Meanwhile, the Houston Report’s neoliberal advice blocked Russia’s government from Keynesian-type spending programs to support the economy and invest in infrastructure. Russia was told to restrict its budget deficit to a drastic low of 2½ to 3 percent of GDP. This blocked it from providing the economy with the purchasing power needed to grow.

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