Originally Posted by Rohirrim
Yep. The solution is more stimulus to create more jobs. Robert Reich agrees.
We don't have a fiscal crisis. We have a jobs crisis. If, in solving this so called "fiscal crisis" we resort to austerity measures, that means fewer jobs, fewer consumers, less spending. The perfect analogy is the "graveyard spiral." This is where a pilot loses his horizon and then tries to correct using his own sense of his position, which has been compromised, instead of reading his instruments. It's what probably happened to JFK, Jr. What the Republicans want to do is instinctively "pull back on the stick" which will tighten the spiral and drive us into the ground. What economists like Krugman are telling us is "read the instruments," we need to level off.
Too bad we are stuck in a political "perfect storm." Nobody can do anything about it because the Right is stuck in an ideological vise. They can't move, and they can't allow anybody else to move either. So, they bring down the whole show. Enjoy.
we have tons of good, honest, needed public works that need done. (i.e. harden the electric grid against EMP etc.) and we have tons of good, honest, hardworking people who need work.
the private sector (i.e. the Wall St banksters) has ruined the real economy to profit from their gambling derivatives and offshoring. the "job creators" are anything but.
Its time to take job creation out of the hands of Wall St. and invest in the national security of the US. And that doesn't mean anything outside the confines of the CONUS. the perpetual wars need to end now.
The notion that a worldwide governance of benevolent ECONOMISTS will lead to peace and prosperity is showing to be a dismal failure. ECONOMISTS need to shut up, sit down and let real people deal with real work, real jobs (the jobs crisis), real money and real life.
End the Fed. (cancel all "debt" the Treasury owes to the Fed.) End the World Bank. End the IMF. End the G8. End the G20. And most of all arrest and incarcerate all current and past Goldman Sachs employees and send them to Gitmo, waterboard them and send a clear message that their treason will have consequences.
whew. i need to move to decaffeinated.