he cutback in civic services. The net effect will be a loss of maybe over a billion dollars or more. That's a loss to private capital, too. DB: But compared to the S&L bailout that's peanuts. Yes, the S&L bailout is much bigger than that. Chicago is just one piece of a growing disaster. Spending on infrastructure has declined radically in the last ten years, and that's going to have its costs. What happened in Chicago is going to happen all over the place. DB: It can't help but affect even the elites. The area that was flooded ... And it's hurting them in Chicago. Chicago businesses are suffering. Insurance companies are going to suffer. DB: They're not going to like that. No, but there's not a lot that they can do about it except to accept more long-term, integrated state corporate planning. There are other possibilities, like democracy, but nobody's going to talk about that. DB: Yeah, right. And maybe there will just be more slogans like "belt-tightening" and "austerity" and "biting the bullet" as opposed to genuine economic policy. There is genuine economic policy, but it's geared to the short term economic interests of the rich. It's very genuine. And there's plenty of state intervention for that purpose. Take the Pentagon budget. That's massive state intervention in the economy for the benefit of the rich. That's what keeps the electronics industry going, for example. Go to the next section. ...
