Thursday, November 15, 2012

The Demand Depression And The Austerity Bomb

It's not a "fiscal cliff" — it's an "austerity bomb"
...Look, there’s only one bottom line here. This is a Demand Depression. The economy is depressed because no one is buying — lack of demand. If it were a Supply Depression — a depression caused by a lack of a supply of goods — we’d be out of it already. We’ve handed money hand over fist to the “job creators,” and they’ve given us nada in the way of ramped-up production. If there were money to be made by producing, they’d be making it — in this country, the one actual Americans care about...

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