Paul Krugman fears we’re headed towards another Long Depression, and European and other G-20 leaders are collectively herding themselves like lemmings towards the clifts of insanity, by promising to cut spending and reduce demand in the middle of a global recession.

There has been an unsavory blending of the private interests of corporations and financial institutions with the power and hand of the US government that has created a new breed of robber barons that will prove the downfall of the American society and empire if left unchecked.