Craig Williams: The countless ads by Whitman in the current California gubernatorial race lead most people to believe that she’s been creating lots of jobs. But when you take a close look at what her company EBAY actually does, on balance she may well be the jobs killer.
David Love: That anyone can actually utter the words “the recession is over” at a time of mass unemployment, foreclosures, homelessness and general despair tells you all you need to know about America. The nation actually exists as two nations: the few that have, and the many who don’t.
Steven Hill: So when the authorities say “a recovery is under way” or “stimulus rather than deficit reduction” or “deficit reduction instead of stimulus,” remember: These are the same experts who are unsure of how to measure, who too often substitute ideology and partisanship for broken theory, and usually have been flat wrong in their assessments.
Ron Wolff: FDR spoke about “four essential freedoms” on January 6, 1941, naming 1) freedom of speech and expression; 2) freedom of every person to worship in his own way; 3) freedom from want; and 4) freedom from fear — which he explained was related to a reduction of armaments and the lack of physical aggression against any other country in the world.
Steve Hochstadt: We grredy American homeowners appear as co-conspirators in many judgments about what caused the great recession. In these interpretations, many of us were greedy for wanting bigger homes than we deserved, foolish to have then bought larger houses than we could afford, and stupid for agreeing to the low-interest/low-payment scams of mortgage sellers.
Joseph Palermo: The financial reform legislation currently winding its way through the Congress is a step in the right direction but it retains too much of the status quo that brought down the economy in the first place. The key problem, as many economists have been telling us, is that the top financial institutions remain “too big to fail.” Congress can enact all the regulations it wishes but even the best written rules won’t be enough to prevent another financial meltdown.
Jim Fuller: For the first time in the 50-plus years I’ve been paying close attention to the securities markets and banking and looser attention to commodities markets — most of those years covering such businesses for newspapers and magazines — I am close to concluding that the only place for the modest savings of the average Jane or Joe is a tightly sealed jar buried in the garden or an envelope under a mattress. Maybe in a mixture of currencies.
Tracy Emblem: Some say government should not be in the business of creating jobs. They are wrong. The government is the custodian of the public land and buildings. All improvements thereto benefit the people. President Roosevelt put people to work improving the public lands with roads and structures when the U.S. had 25-percent unemployment. In 2008, economists warned the government that we could suffer that again if we did not bail out Wall Street. Well, now, Main Street needs a hand.
What’s the Administration’s specific aim in bailing out GM? I’ll give you my theory later. For now, though, some background. First and most broadly, it doesn’t make sense for America to try to maintain or enlarge manufacturing as a portion of the economy. Even if the U.S. were to seal its borders and bar any […]