> Bankrupting the states would be a new quality to this crisis. Does the
> ruling class really want to do that?
They most certainly do.
Our ruling elites are genuinely and terrifyingly suicidal. They are a bunch of crazed financial fundamentalists who would rather take down the entire US economy (which is all they can do -- the developmental states prevented a global crash) than give up the tiniest smidgeon of their Imperial privilege.
-- DRR
^^^^^^^^ CB: So, they are Keynesians; suicidal euthanasia of the rentiers. (smile). I feel you Dennis, but that's a version of general crisis theory , self-destruction of capitalism, isn't it ?