Robert Reich: We are slouching toward a double dip because we’re getting the problem wrong. Despite what Standard & Poor’s says, notwithstanding what’s occurring in Europe, and regardless of U.S. budget projections years from now — our current crisis is jobs, wages, and growth. We do not now have a debt crisis.
On the “Tonight Show” recently, President Obama discussed the need to change the “culture of entitlement” on Wall Street. It needs more than changing. How about scrapping it completely and then grafting on a little bit of character and common sense? The other day, I asked a Bank of America representative why, after I used […]
by Robert Reich — The National Association of Realtors said today that home prices have now dropped to the point where they’ve wiped out all the gains in housing prices since 2004. 2004, not incidentally, was when interest rates last hit bottom, and the Feds looked the other way while mortgage bankers began shoving money […]