by George Shaw
Member since:
February 16, 2006

Robert Reich writes about the two American economies.

November 06, 2010 02:26 AM UTC (Updated: November 06, 2010 08:16 PM UTC)
views: 0 | 4 people recommend this | comments: 18

To hear most of the talking heads today, one might get the erroneous idea that, except for the unemployed and the foreclosed, the American economy is bouncing back. This, according to the talking heads and the Republicans, means that all that is really worrisome is the deficit. Once they get the deficit cut and the taxes cut everything will be A-OK again. Reich's article explains why that isn't so.

 

http://www.readersupportednews.org/opinion2/279-82/3845-americas-two-economies

Comments: 18

Jim G. Nov 6, 2010, 8:26am UTC
"Inhabitants of the Big Money economy are celebrating Republican wins last week. They figure financial regulations will be rolled back, environmental regulations will be canned, the Bush tax cut will be extended to the top 1 percent, and it will be harder for workers to form unions."

Thanks for cheering me up, George, (LOL.)
George Shaw Nov 6, 2010, 1:15pm UTC
Just thought I would reinforce my pessimistic outlook and predictions. LOL
I am glad my home is paid off. My retirement income has dropped by 1/3 over the last few months.
George Shaw Nov 6, 2010, 2:49pm UTC
That is too bad. A good scotch whiskey is usually good for most things that ail a person -- or at least it seems like a good idea at the time. LOL
Jim G. Nov 6, 2010, 2:49pm UTC
I'm thinking of doubling up on my happy pills, too
Chuck Larlham Nov 6, 2010, 8:48am UTC
If I were a better writer (well, OK... researcher), I could've written that article. I could've written 80% of it WITHOUT research. Reich is dead on, but the folks who think this wonderfully insane election will make things better for THEM will be here soon to tell you that poor people don't pay much as employers.

Newsflash, kids... neither do rich PEOPLE. Corporations pay living wages, not rich people. Rich people pay less than minimum wage under the table.
George Shaw Nov 6, 2010, 1:19pm UTC
Yes, it fits in with what I have been predicting for the last 10 years or so. The old Chinese curse has come to pass -- "May you live in interesting times." And the calligraphic character for interesting is the same as the one for dangerous.
Jim G. Nov 6, 2010, 2:52pm UTC
"Interesting times" I guess that is what life is all about, if you can be objective, lol.
George Shaw Nov 6, 2010, 3:00pm UTC
Yes, that is why some argue that it isn't a curse but is a blessing instead. LOL
George Shaw Nov 6, 2010, 3:02pm UTC
And BTW, Chuck, if you were a better writer, I am not sure that we would be able to put up with you.
Gail Mountain Nov 6, 2010, 1:24pm UTC
I like Reich. Thanks for reminding me of that, I need to get media to get him on TV more. I liked a lot of his suggestions in After Shock.
George Shaw Nov 6, 2010, 1:42pm UTC
Yes, but he isn't popular with the MSM -- he is too honest and he tends to tell it like it is. It is really funny how the wing-nuts claim that there is overwhelming liberal bias in the media, but there are very few instances of liberal commentators or new items.
Gail Mountain Nov 6, 2010, 2:17pm UTC
OMG George, now I have to add pushing for more liberal commentators to me list. LOL But I will.
George Shaw Nov 6, 2010, 2:50pm UTC
Good luck. LOL
Larry M. Nov 6, 2010, 5:03pm UTC
The big money boys have taken care of themselves since they control the government. But they are unwilling to allow money to go to the poor so we can't help the "Average American" get and keep a job. It's really stupid of the rich but they are blinded by the nature of our money.
George Shaw Nov 6, 2010, 5:07pm UTC
True, there are all too few FDR's or TR's around to be "traitors to their class."
Larry M. Nov 6, 2010, 5:51pm UTC
At least few in high office today. (Maybe they're hiding?)
George Shaw Nov 6, 2010, 8:17pm UTC
Yes, well hidden. LOL

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