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Politics : View from the Center and Left

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To: Wharf Rat who wrote (141933)	8/3/2010 11:45:31 AM
From: Steve Lokness	Read Replies (1) of 541906

Maybe it is structural, & will last for quite a while. I sure think it is. We have too much capacity and until some of that capacity is done away with with unemployment will be high. Housing for instance that has long been a way to grow ourselves out of recessions is so overbuilt one can only wonder when it returns to balance of ........supply vrs demand. And this is where those like Krugman have it wrong; if you have too many houses already it doesn't help to create more incentives for builders to build more and people to buy more. All that does is continue to increase the over supply while at the same time building on a debt problem. Soooooo the end result is that by adopting Krugmans stimulus ideas you lengthen the time before balanced is reached and you lengthen the time until unemployment returns to normal numbers.

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