Chico Peace and Justice Center

From Right-Wing Extremism and Economic Ideology to the Next Great Depression

November 19, 2008

Dr. Michael Perelman talked about the history of capitalism, and ultimately helping us understand how the American dream suddenly morphed into a nightmare. He discussed the fact that the subprime crisis is a symptom of something larger and far more dangerous.  Even the meltdown of Wall Street is a symptom of something larger and even more threatening.  Without extreme care, the intended cure is likely to make matters worse.  Treating the symptoms with a band-aid, even with a trillion dollar band-aid, may temporarily eliminate the symptoms, perhaps even making the economy look healthy again, but the underlying problems are almost certain to break out again in a more virulent form.