Citizen G'kar: Musings on Earth

November 18, 2009

More Change We Can't Believe In

Artist Captures Recession Times...Image by MyEyeSees via Flickr
Obama really is flobbing the economy. And we all will pay for it, except of course for the Bankers.

The AIG report - Paul Krugman Blog - NYTimes.com:

"Brad DeLong says that the loss of public trust due to the kid-gloves treatment of bankers has raised the probability of another Great Depression, because the public won’t support another round of bailouts even if it becomes desperately necessary. I agree — but I think the bigger cost is that we’ve greatly increased the chance of a Japanese-style lost decade, with I would now give roughly even odds of happening. Why? Because bank-friendly policies have squandered public trust in all government action: try talking to the general public about stimulus, and it’s all confounded in their minds with the deeply unpopular bailouts."
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