Robert Shiller warns that taxpayers–those stupid people who irrationally object to being looted to benefit large banks and corporations because these stupid people don’t understand how stealing trillions is actually a necessary and wonderful thing–are not up for another round of bailouts, and yet such bailouts are inevitable. In fact, they’ve barely begun, he says. So the next time around, the state and its connected elites need a better vocabulary in which to frame the criminal enterprise. He suggests “orderly resolution.”
There is something about that banal phrase that makes me want to pull Hannah Arendt out of the bookshelf. (h/t nakedcapitalism)
