Monday, October 1, 2012

Cui Bono

"Curious why distinguished, Nobel-prize winning economics professors (most of whom have their own Op-Ed columns and blogs to fill all that free time they have when they are not actually filling impressionable minds with "this time the model will work" ideas, keeping Solitaireoffice hours or coming up with arcane, meaningless equations to explain human behavior) have gone "all in" to defend a system which promotes the ubiquity of cheap credit, and the creation of a generation of nondischargeable debt slaves? Because if it wasn't for said cheap, ubiquitous debt, their salaries would be utterly unsustainable (and for once austerity would hit the academic ivory tower headquarters of Keynesianism located in Cambridge, New Haven and West Philadelphia). "

Zero Hedge laying it on the line about the inhabitants of the White Ivory Towers of academia.

"Mao blamed many of China’s problems on weakness, conservatism, bureaucracy and elitist nature of academicians. Throughout the early 1950s, the Party moved to purge counter-revolutionaries: nearly 800,000 deaths, included in the purge were many academicians. By 1956, the intellectual class had been effectively reined in. Mao liked to assault on the intellectual class."

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