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View Diary: I Still Believe (26 comments)

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  •  When the economy comes back (and it will) (3+ / 0-)
    Recommended by:
    blueyedace2, second gen, Kylopod

    people will forget year 1.

    "Marriage is the only adventure open to the cowardly." - Voltaire

    by captainlaser on Wed Dec 16, 2009 at 03:14:50 PM PST

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    •  if by "the economy" you mean the stock market (0+ / 0-)

      the jobs aren't coming back.  Which do you think will make a bigger difference in an election: stocks or jobs?

      This country does not have the luxury to entertain idiocy as if it is reasonable. --Digby

      by Thought Crime on Wed Dec 16, 2009 at 03:17:47 PM PST

      [ Parent ]

      •  Jobs will come back. I love the Boss but (4+ / 0-)
        Recommended by:
        casperr, blueyedace2, second gen, Kylopod

        he was talking about manufacturing jobs which are long gone, but this is still a rich country and the unemployment rate will steadily decline over the next year.

        The only way that won't happen is if richer people are too scared to start spending money again.

        "Marriage is the only adventure open to the cowardly." - Voltaire

        by captainlaser on Wed Dec 16, 2009 at 03:25:31 PM PST

        [ Parent ]

        •  "jobless recovery" (0+ / 0-)

          You need to read more Krugman.  

          The issue isn't if "richer people are too scared to start spending money again", the rich don't actually fuel most consumption, the middle class does.  And the erosion of the middle class's purchasing power has depressed demand over the long term, this is why recent economic down turns have seen job recovery be slow to non-existent, and over all job growth to be flat.  

          Just to keep up with increases in population our economy has to add, 100,000 jobs a month.  To recover the jobs we've lost to-date, we need to add 300,000 jobs a month for the next three years.  There is absolutely no prospect for that happening absent a massive hiring program by the government (which is not going to happen).

          Sadly, America isn't a rich country, in fact large swaths of it are little better off than most 3rd world nations.  We are just a country with a bunch of rich people in it.  The middle class can no longer fuel consumption by taking on debt the way it has over the past 10 years, instead people will cut back.  That in turn will depress demand and employment.  Double digit unemployment has been chronic for many communities for years, soon it will become the new normal for the nation.

          This country does not have the luxury to entertain idiocy as if it is reasonable. --Digby

          by Thought Crime on Wed Dec 16, 2009 at 04:16:10 PM PST

          [ Parent ]

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