Read it at The New York Times
It’s time to start calling the current situation what it is: a depression. True, it’s not a full replay of the Great Depression, but that’s cold comfort. Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege.
Depression and Democracy
by Paul Krugman
Message: Economic fail leads to political fail and social dysfunction.
Message: Economic fail leads to political fail and social dysfunction.
3 comments:
IF WE DID NOT HAVE THE SAFETY NETS AND INFRASTRUCTURE FROM THE FIRST GREAT DEPRESSION, THEN THE AUSTERITY DEFICIT TERRORIST HAWKING AND NEOLIBERALS WOULD REALLY HAVE THEIR WAY WITH CREATIVE DESTRUCTION MAKE THE CURRENT ECONOMIC 'DEPRESSION' VERY MUCH SIMILAR TO THE FIRST.
WE CAN THANK OUR LUCKY BUCKETS THAT F.D.R. REBUILT THE COUNTRY IN A MANNER THAT IS SHIELDING US FROM A HARSHER REALITY
@ googleheim
Exactly. PK should have pointed that out, IMHO.
Proof is the 99ers, who have exhausted their employment insurance and are now on their own with no job in sight.
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