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View Diary: Why Larry Frigging Summers is "failing upwards" (88 comments)

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  •  Obama should say it - a "Jobless Recovery"... (6+ / 0-)

    ...if that's what one calls it, is the plan and there are no other plans. Jobs are for wage earners and the US economy is a global capital system and we should not confuse those two. Of sure, they overlap, but that can be fixed...

    Appointing Summers says this is what he wants for his priorities to not risk disrupting capital markets and to continue incremental adjustments people are making to accommodate this new America.

    Politicians do not lead the world, not even "bend the curve" if that's the extent of one's vision, and Obama has never demonstrated an intention or capacity to be one of the few exceptions in history.

    •  Recovery: But Housing sales are booming (12+ / 0-)

      And most sales are for All Cash Sales -- meaning the Morbidly Rich are buying up real estate to rent back to the commoners who are still trying to claw their way out of this Depression.

      And now Obama will give us Summers so he can fight off the bill to reinstate Glass-Steagel.

      No longer Hoping for Change. Now Praying for a Miracle.

      by CitizenOfEarth on Wed Jul 24, 2013 at 08:24:08 AM PDT

      [ Parent ]

      •  Yes, real estate and stocks are doing well... (2+ / 0-)
        Recommended by:
        tardis10, CitizenOfEarth

        ...and their outlook is very positive, at least for those of us well vested and not addicted to bubbles. The country is not in a Depression but in a new stable, reapportioned state with a cheaper, global labor pool expected to see continued growth in number and education, a growing immigrant US population, a global pool of consumers, also growing, slowly but with a great way to go, a few generations or more, before it gets anywhere close to the US level.  And no reasonable expectation for governmental action to fundamentally change the order of things in the US.

        A mass religious conversion turning all of America into altruistic saints is a more likely route toward equity than wise courageous political action.

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