Thursday, August 18, 2011

Why Is the US Economy So Sick?

Here's Yves Smith pointing out that the claim that business "uncertainty" caused by "high taxes" and "government regulation" is what is holding the economy back is bunk. The reality is that nobody has the money to spend. Instead of the right wing jihad against deficits, right now government needs to be pumping money into the economy to lower unemployment and keep the economy from sinking into a generalized self-reinforcing depression:

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