I don't always agree with Samuelson, but he accurately describes how the
Great Recession became far worse that it should have because of the hands-off
policy of government leaders, which led to a spiral.As the
distribution of income gets more concentrated, we can expect more
"bubbles", as growing capital looks for more opportunities for
investment in the face of anemic aggregate demand. In other words,
pizza delivery drivers just don't have the buying power of engineers.
"The 1929 stock market crash did not cause the Great Depression. The
government's too-passive response, turning what would have been
conventional downturn into a tragedy, was the main culprit. " True, but understand there would have been no response had it not been for the
agitation of socialists and communists inside of the U.S. The response to the
2008-2009 collapse has been too tepid because socialist parties are weak in the
United States. There is a place for socialist parties in the
political fabric of the United States. They are necessary, and you will hear
more from them.
@marxist, we already have a socialist party in the United States. But to avoid
the current stigma in this country against socialists, they go by the name
Re: Z "we already have a socialist party in the United States. But to
avoid the current stigma in this country against socialists, they go by the name
'Democrats'As a matter of historical fact the socialist
parties and the communist party forced issues to the point that the Democratic
Party had to act in the 1930's. Regardless of your personal feelings about
the Democrat[ic] Party, there is a difference in these parties.And,
as the distribution of wealth grows ever more top heavy, the "stigma" as
you put it against socialists is vanishing.
Z:Think about it this way: is Utah defined by those who live here,
or by others?Democrats don't consider themselves to be
Socialists, and real Socialists definitely do not consider Democrats to be
Socialists. That's why if you go to Europe there are actually different
political parties with different names, such as "Socialists",
"Social Democrats", "Christian Democrats",
"Conservatives", etc. From an extreme right position, you
might find yourself labeled as a "Communist" because you support the
idea of tax money to educate children. Does this make you a real Communist?
I wouldn't think so.
Gold is the bubble.
"Yeah - right. And I am also the Tooth Fairy." Said VST regarding my
assertion of socialist viability. But consider:The rescue of big
capital engineered by the Bush and Obama administrations, which saved the system
from collapse, didn't really fix anything. The forces within capitalism
toward unsustainable concentration continue unabated. So another collapse is on
the way. A patch likely won't work next time. The body politic will be
looking for new solutions, and we socialists will have them. You can count on