Another word on recession

Sunday's New York Times [13 January 2007] had a headline that America's economists thought that it was too late to do anything but let the recession that the country has fallen into, ride out the cycle. This from a nation whose economists win Nobel prizes in economics! Now CitiGroup is going to write off more billions in bad loans, as is Merrill Lynch, and soon many others. They look not to Washington for help but to Arab emirates awash in Petro dollars and very fat sovereign funds, as they do to Asia for bail out. Credit has so shrunk that these desperate men will sell what little black souls that they have, to save themselves, their class, their comfort, and their privileges. In doing so, they are selling their place in the economic sun for a mess of potage like Easu did his birthright in the bible.
Which ever you slice the story, the US establishment is guilty of betraying the American people for the interest of a few, for the rich, the dumb, the famous, and the incompetent. So now we're hearing the wailing and gnashing of teeth of those who a year ago would think nothing of stepping hard on the poor and the outcast to firm up their vapid, vicious, vacuous class rule of capital! May they all burn in hell!