Jon Talton has a good editorial in the Arizona Republic today – well worth reading about how once again the corporations get exactly the outcome that they want with the full cooperation of both the courts and our elected “representatives” (this is my interpretation of the facts that Jon talks about).
Some of my friends worry about a bad recession in the US. Like most things in life, I don’t think that this issue is black and white (issues are only black and white for Sith Lords and Neo Conservatives: “you’re either with us, or aggin’ us”). Although I believe that the size of our middle class will decline dramatically (all is according to plan…), I think that the stock market (invest in those who are in control!) and international business interests will do OK.
Allowing large corporations to wipe the books of pension liabilities is just more evidence of where real power is. I am not complaining – just making a rather obvious observation.