Jim Devine wrote:
Sandwichman wrote:
I posted this idea to the Obama transition website and almost
instantly (3 minutes) received the following reply from a commentator:
"This is entirely going in the wrong direction. We have just seen $10
trillion of value evaporate. We need to regenerate that value as fast
as possible and that means more hard work not less."
Shane Mage wrote:
"evaporate?" That "value" obviously never existed in reality, only on paper.
And now Obamists want to reinvent it by somehow forcing every American
worker, already the most overworked in the Western world, to undergo even
worse exploitation. Will the Obamapologist on this list react
appropriately--or hail this new
example of Progressive Black Stakhanovism?
I don't think we should assume that the person who responded to
Sandwichman is an "Obamist" or an "Obamapologist" or progressive. It's
an open discussion.
Fair enough, but this doesn't respond to Shane's opening remark.
Do you agree with Dean Baker's idea of a _loss_ in $6T in housing and
$8T in stock wealth? And how would that square with Shane's comment?
Was the economy in equilibrium before the crash or not?
John V
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