Comments | the_recession: It's the Demand, Stupid!

cieldumort in the_recession

It's the Demand, Stupid!

Sep 03, 2011 15:16

From Robert Reich Blog
The Zero Economy
Friday, September 2, 2011The Bureau of Labor Statistics reports today no jobs were created in August. Zero. Nada ( Read more... )

negative wealth effect, zombies, government spending, demand destruction, consumer confidence, barack obama, robert reich, austerity measures, depressions, keynesianism, income inequality, corporate welfare

Comments 6

kayjayuu September 3 2011, 20:22:50 UTC

So, basically, tax/spend.

That'll go over well.

abz6598 September 3 2011, 20:26:19 UTC

Keynesians.

cieldumort September 3 2011, 20:35:41 UTC

Incredibly over-simplistic and broad-brushing accusation.

Part of stimulus actually involves creating a more stimulative tax structure.

kayjayuu September 4 2011, 08:08:25 UTC

But that's not what he said.

He said:

"You also have to tackle inequality. When so much income and wealth continues to flow to the very top....won’t be sufficient without enough water in the well" -- Tax.

"So what does a sane nation do when the consumers and businesses can’t boost the economy on their own?

Government becomes the purchaser of last resort. " -- Spend.

Okay, so he said spend/tax.

Yes, I know it's nuanced. But that's the basic premise. Government needs to spend more money that it gets from someone else.

Thread 6