Having described the current economic situation and the path that led the country to this crisis point, Paul Craig Roberts then stated the problem Americans now confront, doing so in especially blunt terms:
The bald fact is that the combination of ignorance, negligence, and ideology that permitted the crisis to happen still prevails and is blocking any remedy. Either the people in power in Washington and the financial community are total dimwits or they are manipulating an opportunity to redistribute wealth from taxpayers, equity owners and pension funds to the financial sector.
If Roberts has accurately characterized America's current plight, then it seems likely that its citizens will face and, hopefully, manage-well the fact that they and their descendents will be ruined because those holding decisive political and economic power are incompetent or viciously greedy.
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