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| Economy |
| How to Make an American Job Before It's Too Late: Andy Grove |
| 2010-07-06 |
| Posted by:3dc |
| #6 You can call it a kiddie pool if you want but it's deep enough for all the banks to drown in it. |
| Posted by: Ebbang Uluque6305 2010-07-06 13:21 |
| #5 I still think the housing bubble created by Fannie Mae and Freddie Mac is the most destructive thing that ever happened to this country Both parties supported this insanity. W was a big supporter, IIRC. Each party was scrambling to try to give the little people a hit from the cheap-money crack pipe. Another feature of oligarchy is the way the little people are bought off with bread and circuses-- as a way of covering and diverting from a much larger allocation of public funds to crony capitalists at the top. So instead of being incited by the prospect of the big swinging dix on Wall St being able to borrow absurdly low-cost money from the public purse, and take on 30x leverage ratios with no B/S or mark-to-market requirements, the little folks got to speculate in their own dinky little kiddies' pool, via crap mortgages. Sort of like the children's table at Thanksgiving. |
| Posted by: lex 2010-07-06 12:52 |
| #4 I still think the housing bubble created by Fannie Mae and Freddie Mac is the most destructive thing that ever happened to this country. How can our workers compete with Asians when it costs half a million bucks to buy a house? But then, what's gonna happen when all of those workers are unemployed? |
| Posted by: Ebbang Uluque6305 2010-07-06 12:25 |
| #3 "Woman Makes Enemies Fighting Seas of Manure" is an interesting headline, suggestive of the changes needed. The article itself has nothing to do with this issue, though. |
| Posted by: Anguper Hupomosing9418 2010-07-06 11:33 |
| #2 We need a new political class in this country I'm beginning to think we need a new electorate. |
| Posted by: Anguper Hupomosing9418 2010-07-06 11:11 |
| #1 Neither the public sector nor the private sector is creating decent jobs in any significant capacity. Both parties' economic zealots ignore the fact that their orthodoxies have given us a stagnant jobs market that is heavily dependent on serial asset bubbles manufactured by the Fed. Artificially cheap money creates bubbles that stoke employment in sectors like construction, real estate and finance-- IOW, people flipping assets to each other without creating any real or sustainable economic growth. Grove is right. An economy built on shipping manufacturing jobs to China-- ten jobs in China for each job created here!-- is greasing its own guillotine. California's economy will look like Michigan's within a generation. We need a new political class in this country, one that puts the US first and that recognizes the mortal threat posed bu China to this nation. |
| Posted by: lex 2010-07-06 07:51 |