Quote of the Day: Massive Failure

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From Ryan Avent, surveying both the weak current economy as well as the spectacular destruction about to be let loose in the near future:

It’s just shocking to think about the dangers that loom and consider the extent to which they’re driven by governmental failures.

And yet, to a large extent, governments are merely responding to the wishes of the public. It’s a simple fact that the average Joe (or Dieter or Emile or Carlotta) believes pretty strongly in folk economics — low inflation, a strong currency, and balanced budgets — and decidedly doesn’t believe in bailing out people who aren’t them. On the latter front, this applies both to Germans who don’t want to bail out Greeks and Americans who don’t want to bail out underwater homeowners.

It’s all perfectly understandable — and about as self-destructive as insisting that we should plant crops by the phase of the moon. Which might be about where we’re headed if we don’t get our act together soon.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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