It's The Economic Paradigm, Stupid! (This economic collapse IS the return to normal)

[marmar]

from OurFuture.org:



It's The Economic Paradigm, Stupid!
By Dave Johnson

July 20, 2009 - 10:41am ET


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The economy is terrible. There aren't enough jobs. Most of the jobs that are still there are not paying enough for people to keep up, and people are afraid they could lose them tomorrow. So we all have too much debt. We have too little health care. We have too much stress. And in the bigger picture we have too little power to do anything about it.

They say we're reaching a "bottom" and that there are "green shoots." But I am afraid that this isn’t your father’s recession. I'm afraid this economy isn’t a pendulum that has swing too far in one direction, ready to be pulled by natural forces back to the other side. I am afraid that this isn't a "business cycle" pattern with a fall, then a bottom, then a recovery where all the shoppers return to the stores, all the jobs come back and growth picks up where it left off. Even "green shoot" optimists admit there will be few new jobs if there is any recovery.

It may be that we are not in a period of waiting for things to "get back to normal." Many people think that this economic collapse IS the return to normal. ...........(more)

The complete piece is at: http://www.ourfuture.org/blog-entry/2009073020/its-economic-paradigm-stupid

[sam sarrha]

1. nothing will change till we get rid of Corporatism and business Campaign contributions/bribes

[Greyhound]

2. K&R.

[The_Casual_Observer]

3. Interesting slant on this, that the recessions are the norm & the good times

are the occasional exceptions.

[glitch]

4. Very true in unregulated economies, which is why we the people spent so much time regulating

and why the people who benefit from recessions spent so much time deregulating.

[troubledamerican]

5. Repeat: This collapse IS the return to NORMAL. Credit is DEAD.

The consumer-driven economy of the 1990s (etc.) was based on CREDIT.

Credit is DEAD.