the lost year

[Joe Allonby]

Laid off public sector workers don't spend a lot of money at the car
dealership, electronics emporium, restaurants, or grocery store for that
matter. They do seem to spend a lot of time  grumbling in taverns in my
observation. This adds mass to the rolling snowball. Why this isn't obvious
is a mystery to me.

On Fri, Dec 9, 2011 at 9:26 AM, David Morris <fqmorris at gmail.com> wrote:

> In their paper, and their presentation, the authors listed several
> steps governments and government-aligned institutions could take to
> hasten recovery. But in the U.S., the most important step would
> require more, not less, government spending — and that’s just not in
> the cards given the current state of American politics.
>
> “We need to do something about the demand side or we’re going to be
> facing a Japanese-style, continuous stagnation,” said Alpert, managing
> partner of investment firm Westwood Capital, in his opening remarks.
>
>
> On Fri, Dec 9, 2011 at 8:24 AM, David Morris <fqmorris at gmail.com> wrote:
> >
> http://tpmdc.talkingpointsmemo.com/2011/12/economic-experts-gather-in-dc-to-explain-why-politics-has-doomed-us.php?ref=fpblg
> >
> > Economic Experts Gather In DC To Explain Why Politics Has Doomed Us
> >
> > As the U.S. government and governments in Europe respond to the global
> > economic slump with conservative austerity measures, it’s easy to
> > forget that the overwhelming professional economic consensus is that
> > depressed countries that can afford to should be doing the opposite —
> > ramping up government purchases of goods and services and putting off
> > the budget cuts and tax increases for a few years.
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://waste.org/pipermail/pynchon-l/attachments/20111209/85fdd35b/attachment.html>