NP - Toryism (Austerity) Isn't Working.

[Mark Kohut]

I believe I heard Big Ben say today that the Fed
made a mistake during the Great Depression with
2% inflation................

don't know which way the mistake tilted in his judgment....



----- Original Message -----
From: alice wellintown <alicewellintown at gmail.com>
To: pynchon -l <pynchon-l at waste.org>
Cc: 
Sent: Wednesday, April 25, 2012 6:05 PM
Subject: Re: NP - Toryism (Austerity) Isn't Working.

Nothing is working. At least not for those who want quick fixes to
major crises. I'm a bit disappointed in Krug & Co. because they are
getting more and more political by the day and as thy do they place
the labor card while ignoring the labor issue that has the developed
nations in a crisis. Come on Krug, you understand demand. Or what was
demand and is now the lack of demand.  Or, the lack of demand for
expensive labor. Heck, we have some large nations, with huge labor
forces, transitioning to a new economic model, not ours, but something
closer to ours than their old models, and thus, we have supply of
labor, cheaper, and, close to capital. So how are we going to get
eveyone working and pay them a wage that will keep up with the
inflation Krug & Co. want us to pump into the system? The inflation
that the Fed can make will not make wages go up. In deed, what will
happen is that lotz of stuff will go up without wages and the poor and
ordinary folk will suffer even more than the are now suffering. And,
see my post that includes the stufff on why infaltion is bad, very bad
shit, and we can all see why Krug & Co. need to stop with the
political think and get back to basics. Krug has fallen into a trap,
not of liquidity, but of loquacity. He should shut up and play his
guitar.