Rumbling over persistent unemployment on the right (Brietbart, Drudge) was well as the left. Mitt Romney's characterization of people out of work as takers doesn't seem to be playing well on the right either. Of course, the solution is viewed differently by both side, neither of which have one that would actually work but rather would make things much worse.
But I suppose it is a good sign that the interests of the two major groups calling for change are converging on the unemployment issue.
The Daily Bell
The Danger Beyond Employment Numbers
Anthony Wile
What this guy wants would certainly make things far worse. Less regulation (which always seems to translate to some not accountable under the law) and going back to a fully private banking system which he claims served the country so well before the Civil War. Has he ever opened a history book, or even studied a financial timeline of that period?
ReplyDeleteWhat's really galling is if we ever do have radical reforms, it will be along the lines of this ahistorical foolishness. Then when it blows up we'll hear that we have to go back to the previous (current) way of doing things, because There Is No Alternative.
Obama: 'we're out of money!'
ReplyDeleteRomney :'we're borrowing from the Chinese! '
Nothing can happen until we get candidates/voters not caught up in these falsehoods ....
Rsp
"…This makes it hard to work out way out of our foreign debt." - Michael Hudson
ReplyDeleteThis is from an excerpt in the post (first paragraph of quote) "Its Time to Levy the Land" just put up by Tom.
Hopefully Michael Hudson has a better handle on this now…the statement was from a 2009 interview.
Even the guys on our side are confused.
Lyster at yahoo has Dean Baker advocating for more QE today....
ReplyDeletePaul, Hudson still doesn't have the math imo...
Rsp