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03 June 2009

Economic recovery is wishful thinking, Dean Baker

Clearly, the elite media wants to get The Great Unwashed to start spending compulsively so that their own portfolios will rise to pre-crash levels. I heard the NPR broadcast that Baker rightly pillories -- I mean, how fucking stupid do they think we are? A rhetorical question.

Key quote:

The problem is not consumer attitudes, as many commentators seem to believe. Rather, the reason that most homeowners aren't buying a lot right now is the same reason that homeless people don't buy a lot of things: they don't have the money.

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