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View Diary: Structural Stupidity on PBS, Debunked by Krugman and Baker (123 comments)

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  •  Excellent but incomplete. (1+ / 0-)
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    Roger Fox

    I (very humbly, I should say)  agree wholeheartedly with Krugman and Baker. The highly fixable cyclical demand problems are the most immediate, highest priority, most easily fixed, and biggest bang for the buck. Infrastructure investment and public works on cheaply borrowed money is the solution. No doubt about it, IMO.

    However, the "bottom" of our economy is growing, is positioned to get way over crowded, and is being impacted by competition for resources as those of us with money are smart enough to resist spending and instead save - boatloads.  

    The long term unemployed, the over 50 crowd with no retirement, the unskilled, the skilled but stuck in the wrong cities, those C students who make it through HS and go to no further training, these already see the the deep and wide structural problems that are metastasizing. Some of them will be  lifted up with greater demand, albeit barely suffieicntly. However, the long term picture is bleak. These issues are not being addressed.

    Those middle class and better who already own homes and, more importantly, have investments are doing great and will continue to improve.

    As capital movers resolve the cyclical problems they're so good at easing and fixing the shit that already flowed downhill will continue piling on.

    First, biggest things first. Krugman is right about that. It's insane to confuse trillions in mutable cyclical economies to the billions here and billions there in the multi-generational stagnating economy stuck at more complex structural road blocks.  But those who are hurting probably hear the hollow sound of being left out and left behind in the dust.  

    •  Tipped for "most easily fixed". (1+ / 0-)
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      Not at all heavy lifting.

      .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Sun Aug 04, 2013 at 04:26:45 PM PDT

      [ Parent ]

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