Wednesday, September 19, 2018

Quote of the Day (Yves Smith, on How the 2008 Crash Led to Trump)


“Why do you think we have Trump? I mean, even though he did a big bait-and-switch, as we all know, there were a lot of people that lost their homes, their community wasn’t what it used to be, particularly if they lived in the Rust Belt. And then you have these people on the coast saying, ‘Oh, they should go get training. It’s disgusting.’ I mean, let them eat cake is let them get training. What you hear from these coastal elites: People over 40, even over 35, are basically unhirable. Are you gonna train them? They’re gonna waste their time thinking they can get a new job? I mean, that’s just lunacy.”—Financial blogger Yves Smith, explaining the impact of the 2008 Crash on American politics, interviewed by Noah Kulwin, “Yves Smith on Why We Didn’t See the 2008 Crash Coming,” New York Magazine, Aug. 6, 2018

Lunacy--or the blindness of Wall Street's Democratic allies.

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