More on the Ghost Of Willie Sutton


As one Agonist commenter notes: the richest one percent of Americans own more than the bottom ninety percent. That's a big pool of money to balance our budgets and provide a new, better and bigger round of stimulus. Instead, as Ian notes, "The world’s financial elites blew up the world’s economy. Now the world’s schmucks (aka. ordinary people) are going to be stuck with the bill."

Futhermore, as Matthew Yglesias notes that Ben Bernanke's plans for job growth are to "do nothing:"

at his hearings either Bernanke might publicly discuss his determination to do more to lower the unemployment rate, or else he might confess his lack of confidence in the ability of monetary policy to do more to lower the unemployment rate and call for more fiscal measures.

But he didn’t do either.

Apparently, Obama isn't going to do much either, as the New York Times notes, because there isn't enough money to do so:

Mr. Obama said he would entertain “every demonstrably good idea” for creating jobs, but he cautioned that “our resources are limited.”

Si, se puede!


Sean Paul Kelley December 4, 2009 - 1:54pm
( categories: Economics: USA )

High unemployment is great for business. It boosts executive bonuses by keeping wages down. In election years, it also helps end the abhorrent periods when rightful governing party is out of power.

Be sure the business elite is sending its directions to Obama and congressional Democrats. The fact that the message is intended to remove Democrats from office is something the Democrats themselves aren't smart enough to figure out.

Wandering Cynic December 4, 2009 - 4:19pm

Torch and pitchfork futures are looking very bright.

zot23 December 4, 2009 - 9:28pm

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