Posted at Hartmann Report on Apr. 28, 2023
Why the GOP May Actually Want a Second Great Depression
This is a story as old as capitalism. During the Republican Great Depression of the 1930s, for example, some of America’s greatest fortunes were made or massively expanded…
In yesterday’s Daily Take, I laid out a scenario where Kevin McCarthy and congressional Republicans could crash our economy by forcing a default on US debt, producing what could easily be a depression as deep and deadly as the Republican Great Depression of the 1930s.
When I discussed this with people on the radio yesterday, several responded with incredulity.
“Why would the Republicans,” they asked, “who generally represent the interests of corporations and the rich above all else, risk crashing the stock market and economy where those very same wealthy people have their money invested?”
The question itself reveals a misunderstanding of how things work for the morbidly rich.