I'm smiling.
Natalia
P.S. Many thanks for forwarding the fantastic paper on Native American
languages (/Nurturing a Faint Call in the Blood/). We stored it, so
somehow removed it from the mail program, but retrieved it from the
Wheel. For anyone who didn't read it, take some time with it. It's a
mini-course in alternative thought, entertaining and funny, too. I'll be
sending my thanks to Moonhawk soon.
On 2/21/2011 3:38 PM, Ray Harrell wrote:
It won't take that long. The Germans will hurry it along.
REH
*From:*[email protected]
[mailto:[email protected]] *On Behalf Of *D and N
*Sent:* Monday, February 21, 2011 6:21 PM
*To:* RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION
*Subject:* [Futurework] US has 2 economies
I think the first economy, rather than being in a state of recovery,
is more accurately in a state of unrecognized near-extinction. Tax
payers won't bail them out again, and it is with their funds that they
resumed gambling. I'd like to say Wall Street's demise is just around
the corner, but because they own the government and the media, it will
take years more for the realization that an illusion of financial
success won't possibly restore the government treasury.
Natalia
America's two economies: one in recovery, one in depression
<http://www.huffingtonpost.com/robert-reich/post_1687_b_818991.html>
*Robert Reich, Huffington Post - We have two economies. The first is
in recovery. The second remains in a continuous depression.The first
is a professional, college-educated, high-wage economy centered in New
York and Washington, that's living well off of global corporate
profits. Corporations continue to make money by selling abroad from
their foreign operations while cutting costs (especially labor) here
at home. Wall Street is making money by taking the Fed's free money
and speculating with it. The richest 10 percent of Americans, holding
90 percent of all financial assets, are riding the wave. And their
upscale spending has given high-end retailers and producers a bounce.
The second is most of the rest of America, and it's still struggling
with a mountain of debt, declining home prices, and job losses. In
coming months most Americans will also be contending with sharply
rising prices of food and fuel. Our representatives in Washington see
and hear mostly the first economy. The business press reports mainly
on the first economy. Corporate and Wall Street economists are
concerned largely with the first economy.
But the second economy will determine our politics in 2012 and beyond.
And not even the first can be sustained permanently on its own.
Corporate profits cannot continue to rise on the basis of foreign
sales (which are slowing as Europe adopts austerity and China raises
interest rates), the purchases of the richest 10 percent of Americans
(which are dependent on a rising stock market), and cost-cutting
measures at home (which are necessarily limited). Without a strong and
broadly-based middle-class recovery, America's big money economy will
fall in on itself. A major stock market "correction" is a certainty. *
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