Consumers have long been warned they were going to be pushed to the “point of pain” in order to curtail their spending. It seems like we’ve finally reached it.
Consumers have long been warned they were going to be pushed to the “point of pain” in order to curtail their spending. It seems like we’ve finally reached it.
Robert Reich would like a word to the contrary. He has a good YouTube channel where he discusses this nonsense in easy to understand ways.
Might check him but doubt it. I don’t trust economists, astrologers, or any other form of shaman.
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And like religion it sucks up to power. I hate quoting her so I am just going to paraphrase her.
The government makes our life a living hell, the economist convinces us that it can’t be otherwise.
Not all economists are as you describe, so if you won’t see the proof for that, would you at least stop with the sweeping generalizations?
I will when the majority of polled economists consistently support views that are not aligned with the regular population. When I see daily articles from groups like Brookings and the Economist bragging about how great Wall Street bailouts are and condemning student loan forgiveness I am not inclined to go find the single lone unicorn out there that disagrees.
Somehow we are supposed to believe the moral hazard and inflation risk of student loan debt forgiveness is real and horrible while bank bailouts it is non-existent. Just the other day I read an article by Grunweld explaining how bank bailouts are emergency measures and they don’t have to factor in what mistakes led to it or what problems will come from the fix. Meanwhile if you even hint at getting rid of student loan debt suddenly everyone wants to talk about those issues.
People lost their pensions, jobs, and homes in 2008. Goldman Sachs showed record profits. Economists approve of both.
Well that’s a whole lot of words that you might hear Robert Reich say.
Good for him?
I will when the majority of polled economists consistently support views that are not aligned with the regular population. When I see daily articles from groups like Brookings and the Economist bragging about how great Wall Street bailouts are and condemning student loan forgiveness I am not inclined to go find the single lone unicorn out there that disagrees.
Somehow we are supposed to believe the moral hazard and inflation risk of student loan debt forgiveness is real and horrible while bank bailouts it is non-existent. Just the other day I read an article by Grunweld explaining how bank bailouts are emergency measures and they don’t have to factor in what mistakes led to it or what problems will come from the fix. Meanwhile if you even hint at getting rid of student loan debt suddenly everyone wants to talk about those issues.
People lost their pensions, jobs, and homes in 2008. Goldman Sachs showed record profits. Economists approve of both.