This Is Not A Recovery

I wrote this back in August. I haven’t changed my mind one bit. Whenever I read this nonsense about an economic recovery, I’m struck by how far away the commentator is from actual American life and how close he is to Washington.

So says Paul Krugman at the New York Times. And he’ right. This is the New Great Depression, the second in American history. It will always be remembered by future generations as Great Depression II, the second great depression. Just like the first world war failed to solve the problems that would eventually lead to the second world war, the same problems bit us a second time. The humiliating thing is that if we had continued with the protections from the first great depression we could have avoided much of the damage. But the claims and promises of an irresponsible and incompetent economic elite have led America and the rest of the world into disaster, a disaster these same creatures do not believe is happening since it has no effect on them except a persistent worry that their profession is being “demonized.” Demons would have had serious difficulty in doing more damage to more innocent lives.

James Pilant