It’s time to recognize the current economic condition for what it is: the Bush Depression. While some claim it’s not as bad as the Great Depression, it’s another in a long line of capitalist failures and could get much worse.
It’s time to recognize that there’s a crisis in capitalism, and that corporate policies are a failure.
Naming the depression after Bush may be a little unfair, because he was not responsible for instituting all the policies that began with Ronald Reagan. He did oversee the triumph of GOP policies and push the rising power of corporations to create the disaster. Republican policies, along with assistance from pro-corporate Democrats and bipartisan corruption, led to the depression: low taxes, less regulation, a relentless push for the globalization of finance, loose money policies, shipping manufacturing to China, and blind faith in “the market” and “free enterprise.”