View from the Center and Left Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Steve Lokness who wrote (139931)	6/29/2010 12:02:53 PM
From: Katelew	Read Replies (2) of 541936

FWIW, I'm caught philosophically between you and John/Krugman. Based on my limited reading of the Great Depression, which I started several months ago and then stopped, the thing that struck me about the Ireland article is that it is the anatomy of a "Depression". All the ingredients are in place. This is how they unfold. What also jumped out was the 20% paycuts on public employees. I don't know how big the public sector is, but those are sharp cuts and guaranteed to induce saving by the employees who were cut. I question the wisdom of such sharp cuts and think Krugman was perhaps right to criticize. Some of the cutting proposals coming out of GB give me pause, too. I hope in our country that our debt problems are unwound more slowly. Small retrenchments spread over many years and incorporating permanent changes in govt. spending at all levels. To avoid slipping into a Depression will require an adroit hand to keep things balanced.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next