Krugman calls Stockman a "cranky old man."
Jared Bernstein calls it "...a Hunger Games version of America."
It seems not every economist agrees with Stockman's take.
The comments part under the Krugman piece are interesting. They're right. Krugman doesn't really post a counter-argument to Stockman. He just calls him names. So, does that make Stockman right? I almost wish I had time to go back to school and learn economics, but I don't. Not to mention that I always stunk at math.
Here's what I see:
Last week a can of pears was $1.49. Today it's $1.99. They've got people at King Soopers who work full-time on the graveyard shift changing price labels. Of course, the government does not include food in inflation numbers. We're supposed to be in a recession and the top 1% are doing better than ever. The stock market is through the roof and no jobs are being created. Investors are raking in dough, the government is buying derivatives and wages are stagnant. In fact, wages haven't gone up significantly in forty years and yet the top percenters incomes have gone up an average of $117,000 over that same period of time. And that's just an average. There are some waaaay above that on the curve. Meanwhile, their taxes have been cut lower than salaried workers. So, WTF is happening?
I still see an America that is of, for and by the corporations.
Anyway, economists are like weather forecasters. They can have degrees in climatology out the ying-yang and still can't tell you for sure if it will rain tomorrow. Just too many variables.