Skip to main content

View Diary: "Unprecedented prosperity" (248 comments)

Comment Preferences

  •  Summers and Geithner serve the Street (4+ / 0-)
    Recommended by:
    Dallasdoc, Pluto, StrayCat, Nulwee

    any benefits that trickle down to the rest of us are purely incidental.  I still recall when trickle down economics became this country's governing philosophy in the early 80's.  I recall when it basically remained that philosophy through the 90's.

    Obviously, that philosophy ran wild in this decade.  I was hoping that we'd see a change in that philosophy now, but, thus far, I'm really not seeing one.

    Some men see things as they are and ask why. I see things that never were and ask why not?

    by RFK Lives on Fri Sep 11, 2009 at 09:12:35 AM PDT

    [ Parent ]

    •  They could have let (3+ / 0-)
      Recommended by:
      Pluto, StrayCat, marknspokane

      AIG and Goldman tank.  It would have been a victory for the middle class.  It WOULD have been tough, for years, but there would have been an eventual payoff for US.  Now, there's only going to be more financialization.

      From Neocon to sane- thanks to Obama- and Kos.

      by satrap on Fri Sep 11, 2009 at 09:14:33 AM PDT

      [ Parent ]

      •  It Will Be Tough For Years (0+ / 0-)

        there's no magic bullet. The big picture really doesn't have much of a change

        1. extreme wealth disparity, rivaling a third world naion in terms of contrast from top earners and the bottom rung.
        1. inflated real estate prices, among other bubbles. Cushion them all you want, but the trajectory is clear.
        1. the consumer class won't remain the same it was from 1980-2007. So what will change? Someone has to do the spending, between government, consumers, down the line.

        These clowns claim to admire him [Cronkite] but do not wish to emulate him - GUGA

        by Nulwee on Sat Sep 12, 2009 at 12:17:09 AM PDT

        [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (143)
  • Community (70)
  • Memorial Day (29)
  • Elections (27)
  • Culture (26)
  • Civil Rights (26)
  • Environment (26)
  • Media (25)
  • Law (24)
  • Science (24)
  • Trans-Pacific Partnership (22)
  • Labor (21)
  • Economy (20)
  • Josh Duggar (20)
  • Rescued (20)
  • Marriage Equality (18)
  • Ireland (17)
  • Republicans (17)
  • Climate Change (17)
  • Education (17)
  • Click here for the mobile view of the site