Wednesday, September 26, 2007

I just love when I can say "I told you so," especially to Lott.

Here, Lott: This is just for you. You ridiculed my suggestion that the only real solution to our economic problems was real living wage full employment. So here is that same suggestion, from someone who is a far better and more experienced economist than you will ever be. Enjoy!

"A case can be made that what is needed under current conditions is not more cheap money from the Fed, but full employment with rising wages by government fiscal stimulants to boost consumer demand. The US government should make use of the money that the banks cannot find worthy borrowers to lend to, with money-cautious investors seeking to lend to the government, creating jobs for infrastructure rehabilitation and upgrading education to get the economy moving again off the destructive track of privatized systemic financial manipulation." ("Either Way, It could be an Unkind Cut" Henry C K Liu, Asia Times)

Apparently, Lott, Mr. Liu thinks that moral and ethical considerations count in economics. So why don't you?

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