How to end the Great Recession

This is a fantastic article in the NYTimes about why we haven’t seen any improvement in the economy since it went down the tubes in 2008. The writer, Robert Reich, notes that we’ve used every economic booster known to man, including record low borrowing costs and still no improvement in jobs growth. His rational is that the middle class lost pace with their earnings 40 years ago and engaged several coping mechanisms to keep up, the last of which was borrowing against their homes to the tune of $2.3 trillion, and because the gov’t has taken the edge off of the bubble bursting with all of that stimulus money there was no political pressure to change the system as there was during the Great Depression. So what we’re left with is the Great Jobs Recession, with no end in site. This is a must read: check it out.

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3 Responses to How to end the Great Recession

  1. You may be interested in my video which examines the end of the middle class.
    http://www.youtube.com/user/thedaysrant#p/a/u/1/wmGs0rAPRyQ

  2. Mike says:

    America needs innovation and discipline to get us out of this downturn

  3. hvncb says:

    nerd, just landed here…..12 seconds and “ouch”….see ‘rational’ for ‘rationale’…I’m out of here!

    How to end the Great Recession

    Posted on September 5, 2010 by nynerd
    ….His rational(E) is that the middle class lost pace……”

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