Friday, September 23, 2011

Reich On The Economy

I am becoming a big fan of Robert Reich because he is clear as a bell.

Reich believes we are already into the double dip recession.

Also he clearly points out the fracture in the GOP/Tea Party. Wall Street Conservatives may not be able to accommodate the Tea Party's need for austerity and non stimulus. There is an entire year before the next presidential election and in that year Wall Street may not be prepared to sit around and wait while the stock market continues to flounder and fall. They want some action now and clearly there has to be another stimulus program now.

Robert Reich: When Will Wall Street Call for More Federal Spending?
The “double dip” has arrived.


If this keeps up, we’ll have a showdown between establishment Republicans who understand what must be done — and who will support substantially more federal spending in the short term in order to goose the economy — and Tea Party zealots who refuse to face reality.
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4 comments:

Glynn Kalara said...

I'm a Progressive but, how much good does spending more Fed.$$ in an essentially crony / Corporatist dominated system get us? What we need is more $$ directly to go to each citizen to spend. Pumping up the already ample salaries and benefits of people with good jobs Private or Public makes little sense to me. The last stim. did just that according to many studies. It created very few "new" jobs.
We are experiencing another version of the Great Depression and in some regards a worse version. During the Great Depression the Federal Gov't and all Gov't was not huge and in huge debt as well. This time around if you use the measurement tools they used in those days Unemployment is already near 25% and this time around its structural. In other words the jobs are gone. Our patriotic job creators the wealthy Corps. have sent them to low wage tyrannies overseas. NEVER to return, while these folks live here protected and coddled by the rest of us.

10:51 AM
Jim Sande said...

We will never get a policy or bill in place that will get more money into the hands of ordinary citizens. The Tea Party won't pass it in Congress - this is the other side of severe austerity - no public works projects nothing like that. I'm at a loss about how this all could possibly pan out for the better. One thing is that I hope Americans have wised up enough to vote out the Tea Party.

12:19 PM
Glynn Kalara said...

"We will never get a policy or bill in place that will get more money into the hands of ordinary citizens." Maybe yes , maybe no? I'm not sure of that.

12:49 PM
Jim Sande said...

Not with this Congress, aint gonna happen. I would be happy to be wrong.

3:49 PM

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