| Submit your comments on this article |
| Economy |
| Party Time for Anglo-American Elites? |
| 2010-03-20 |
| (Former Secretary of Labor Robert) Reich: Economic Recovery Is a Government 'Sham'... |
| Posted by:Uncle Phester |
| #4 lex, I've been disagreeing with you all day, but not on this one. |
| Posted by: Glenmore 2010-03-20 19:44 |
| #3 Even a lefty like Reich can see the blindingly obvious fact that this admin's finance policy consists of transferring trillions from depositors and small borrowers to a diminishing number of mega-banks. Their cost of funds is next to zip, and they're STILL not lending. Likewise, in the real economy, corporations are not hiring Americans. They're using the downturn to accelerate the transfer of now white-collar jobs overseas via outsourcing of every function they can. Look at the deal volume in system integrator outsourcing contracts-- it's prob'y 10x what it was as little as 8 years ago. As to the big banks, they and Goldman and the other moneyfiddlers left standing are effectively arbitraging the state, with the connivance of our political class. That's about as good a definition of modern-day oligarchy as you can find. |
| Posted by: lex 2010-03-20 19:35 |
| #2 "Economic Recovery Is a Government 'Sham'..." I don't have to be a former Sec. of Labor or anything else - I've already figured that out by my little ol' self. |
| Posted by: Barbara Skolaut 2010-03-20 18:07 |
| #1 The economy in America (and, really, in the West) cannot grow until distortions are fully unwound and the market itself can perceive what is apt to survive and thrive and what is withering and slowly dying. This time, such perceptions may take years to realize, especially since America and the West generally continues to retard the inevitable culling. For those of you who don't click through and read. |
| Posted by: Glenmore 2010-03-20 18:03 |