The New Generation Gap
Project Syndicate
Hollywood stars play all the major roles in the film, but it is no puff piece for the 1 percent. After watching “The Big Short” and talking to viewers, it’s hard to argue against Sanders’ demands to increase taxes on the billionaires and break up the banks, and use the revenue to fund better health care and education.
Just as with the American subprime crisis, and the current plight of many American cities, Wall Street’s predatory lending played an important although little-recognized role. Undoubtedly, Greece suffers from years of corruption and tax avoidance by its wealthy. But Goldman wasn’t an innocent bystander: It padded its profits by leveraging Greece to the hilt—along with much of the rest of the global economy.
If you really worry that the U.S. might turn into Greece, you should focus your concern on America’s right. Because if the right gets its way on economic policy — slashing spending while blocking any offsetting monetary easing — it will, in effect, bring the policies behind the Greek disaster to America.
Democracy Now! speaks with Greek Finance Minister Yanis Varoufakis in Athens. The debt clock is ticking, and Greece refuses to implement more austerity.
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