Well…Imagine my shock this morning when I opened the Detroit News (a staunchly conservative repub paper) and found an article by a Nobel prize winning economist, Joseph Stiglitz, who destroyed the normal repub arguments for their economic plan of cuts and austerity by the use of facts and history…something that will fall on deaf ears on the right but was still surprising to see in their propaganda rag. He went on to stress something that I have been harping on for almost the past two years that the concentration of wealth in the top 1% distorts the economy and is the primary factor why the economy is not recovering…because the people who would spend the money no longer have it…and that lowers the aggregate demand in the economy…again, something that I have been saying for a long time…that no business is going to add jobs until demand rises and the top 1% can’t spend as much as the middle class would if they had the money that the top has stolen by rigging the system….in this era of opinion and ideology that replaces objective facts, I am starting to lose hope that things will ever change…geez…<\/p>\n","protected":false},"excerpt":{"rendered":"
Well…Imagine my shock this morning when I opened the Detroit News (a staunchly conservative repub paper) and found an article by a Nobel prize winning economist, Joseph Stiglitz, who destroyed the normal repub arguments for their economic plan of cuts and austerity by the use of facts and history…something that will fall on deaf ears … Continue reading Surprised by the Detroit News…<\/span>