Kevin Phillips

Interviewed on Bill Moyers Journal
re: The Economic Crisis

Part 1

Part 2

Part 3


This is going to be a big one.

Ordinary Americans don't have much of a role in this.

This is the denouement of a 25-year debt buildup which was undertaken mostly by the financial sector putting themselves on steroids to get bigger & bigger & bigger.

Moyers: You say it's the greatest story never told.

They (the financial sector) are the economy at this point.

The middle class is shrinking.

The financial sector has hijacked the American economy.

Finance has been preferred as the sector that got government support.

The rise of the financial sector is the rise of the debt industry.

Greenspan would do nothing to disturb finance...basically he gave finance what they wanted.

The people who were the arsonists are now racing to show up in fireman hats saying "We're going to solve it."

We're about halfway through.

Finance can bet on anything...they have figured out new ways to gamble.

I think it's (the economic crisis) another variation but on par with the '30s.

I don't think we have a sound economy at all. Not remotely, at this point.

He (Obama) doesn't seem to have anything very specific to say - that's part of the problem.

I'm sick of Washington.

We are on the wrong track.

Couple of decades coming up which are going to be very difficult for Americans.

A lot of people in the financial community that want to get rid of it (Social Security).

A lot of Democrats in the labour movement are very nervous about Obama. They see that the flesh of The Democratic Party carries a lunchbox but the new soul wears a pinstripe suit.

Who's rescuing the laid off worker? Nobody's rescuing them.

You don't rock the boat. You pretend it's a sound economy.