Posted by: Doug Henwood | May 20, 2011

What fiscal emergency?

I break into the big time! My antidote to deficit hysteria is up on CNN.com: What fiscal emergency?

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Responses

  1. Solid economic analysis as usual. Thanks.

    Add a few Glen Ford and Glenn Greenwald blog entries, and a Chris Hedges article or two, and you have a solid demolition case against Obama, his shameless Bots, and all the hypocrites and charlatans to their right. To the surprise of nobody, 90+% of liberals are lining up to support their favorite war criminal and Wall Street mascot in the White House. The Evil Machine is already chugging along to tell us that our choice consists of Dear Leader and some knuckle-dragging slope-headed GOP Neanderthal.

    Recently, Panitch and Gindin’s article…

    … and Richard Seymour’s blog entry “How Can the Left Win?”…

    http://leninology.blogspot.com/2011/05/how-can-left-win.html

    … have helped me frame the broader strategic issues about “What is to be done?”

  2. Doug– is there a clip available?
    Fiscal hysteria is the biggest issue/phenomenon that the liberalrati and lefterati is letting itself, with no resistance, be flogged into submission with. For fear of being fiscally irresponsible. You’re practically the only one out there talking about it sensibly.
    Declare the economy a disaster area, cancel the debt, and start over. What’s the big deal? Germany and Japan did just fine when they were given a “do over” after WW2. Heck, we made money on it too.

  3. About damn time.

    You should continue the self-promotion, by reminding everyone that you explained the political economy of fiscal crisitunities, as Homer Simpson would say, back in the 1990s. Your section “Money and State” here:

    http://www.leftbusinessobserver.com/WS_Brecht.html

    … could probably be republished today without adding or altering a single word.

  4. About time with the break, I mean.

  5. Thanks Doug! This a fine antidote to all the phony deficit hysteria in the air these days. The hairshirt types are using the post-crisis deficits as a way to gut social insurance programs they’ve always opposed. More power to you!

  6. Congrats; you are a fine representative of the Left.

  7. This is presumably the sign of a major market bottom, isn’t it?

  8. I so liked your article, Doug. Thank you.

    The sky is falling! That’s a great way for our politicians to lull consumers into their comfort zone!

    I am exhausted by the sensationalism of our politicians (and media). Absolutely exhausted. Ten years of constant fear to promote the need for war and now, the constant threat of degrading entitlements. I resent the never ending manipulation. It’s getting old.

    Not much mention of jobs lately. 20 million+ wish our leaders could find the time to have a discussion which includes just the word….jobs. The silence is deafening.

  9. Daniel, I’d normally say that, but the reason I was asked to do this is that an old friend of mine just started working there. So the old indicator might not kick in here.

  10. Just read this from Jeremy Greenfield: — Even as the economy recovers, the days of 5% unemployment may be gone for good. A chorus of economists and labor market observers say that the “natural” or “structural” rate of unemployment has shifted up, meaning that Americans looking for work should get used to having a harder time finding it. The unemployment rate is currently 9% and could take until 2016 to reach the natural rate. —

    Hmmm, it really makes me wonder about the value of LinkedIn. Exactly who’s going to “Link In”… permanently unemployed “new economy workers 2.0”? Hey, that’s an advertiser’s dream market, ain’t it?

    Actually, it really makes me wonder when we’re going to have a revolution, but I thought I’d be more sociable.

  11. Reading around on the Common Dreams website, a commenter praised you and said that you were doing a one-week fellowship at the Hoover Institute.
    The Hoover Institute?
    Wow.
    How’s Condi? Any good laughs with the supply-siders?
    We can all try to be pure and above any and all moral complications, and I’ve got enough to worry about in my own life, but the Hoover Institute?
    Kind of like Chris Mooney and the Templeton Foundation – a good patron is hard to find?


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