Comments on: So much for a new New Deal http://morehockeylesswar.org/blog/archive/2008/11/26/so_much_for_a_new_new_deal/ Peace, Justice and Hockey Mon, 08 Mar 2010 23:51:44 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Terry http://morehockeylesswar.org/blog/archive/2008/11/26/so_much_for_a_new_new_deal/#comment-18651 Terry Fri, 28 Nov 2008 00:50:05 +0000 http://morehockeylesswar.org/?p=525#comment-18651 You do make an important point in linking inflation to the cost of labor. Too few people understand that. You do make an important point in linking inflation to the cost of labor. Too few people understand that.

]]> By: Steve http://morehockeylesswar.org/blog/archive/2008/11/26/so_much_for_a_new_new_deal/#comment-18650 Steve Fri, 28 Nov 2008 00:07:47 +0000 http://morehockeylesswar.org/?p=525#comment-18650 Happy TG to you and yours, too, Terry! Volcker may be critical of Greenspan, but he represents the beginning of the policy mindset that got us into the mess we're in today. That is, the regulation of interest rates to keep unemployment -- er, sorry inflation -- at a level that doesn't threaten corporate profits. Granted, targeted interest rates were a disaster, but still. Volcker's 1982 recession was a disaster for the workers of the US, and was a major nail in the coffin of organized labor as it existed through the 70s. Maybe he learned from his mistakes, but wouldn't it be better to appoint an economist who's known all along that manipulating interest rates to maintain a pool of unemployed workers is a bad thing for workers as a whole? Happy TG to you and yours, too, Terry!

Volcker may be critical of Greenspan, but he represents the beginning of the policy mindset that got us into the mess we’re in today. That is, the regulation of interest rates to keep unemployment — er, sorry inflation — at a level that doesn’t threaten corporate profits.

Granted, targeted interest rates were a disaster, but still.

Volcker’s 1982 recession was a disaster for the workers of the US, and was a major nail in the coffin of organized labor as it existed through the 70s.

Maybe he learned from his mistakes, but wouldn’t it be better to appoint an economist who’s known all along that manipulating interest rates to maintain a pool of unemployed workers is a bad thing for workers as a whole?

]]> By: Terry http://morehockeylesswar.org/blog/archive/2008/11/26/so_much_for_a_new_new_deal/#comment-18649 Terry Thu, 27 Nov 2008 22:51:34 +0000 http://morehockeylesswar.org/?p=525#comment-18649 Oh, and happy Thanksgiving to you and your family. Oh, and happy Thanksgiving to you and your family.

]]> By: Terry http://morehockeylesswar.org/blog/archive/2008/11/26/so_much_for_a_new_new_deal/#comment-18648 Terry Thu, 27 Nov 2008 22:50:20 +0000 http://morehockeylesswar.org/?p=525#comment-18648 Two points from one who has been highly critical of Obama's appointees (especially in the area of foreigh policy.) Paul Volcker has been an outspoken critic of Alan Greenspan and his "let the markets work" approach to the economy. That's a good thing. Secondly, Obama has proposed what appears to be a massive infusion of government money into infrastructure repair. Seems to me that's a New Deal-style jobs program. If so, that's a good thing too. Two points from one who has been highly critical of Obama’s appointees (especially in the area of foreigh policy.)

Paul Volcker has been an outspoken critic of Alan Greenspan and his “let the markets work” approach to the economy. That’s a good thing.

Secondly, Obama has proposed what appears to be a massive infusion of government money into infrastructure repair. Seems to me that’s a New Deal-style jobs program. If so, that’s a good thing too.

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