Blog on the Run: Reloaded

Saturday, August 6, 2011 11:10 pm

Quote of the day

Filed under: I want my money back.,We're so screwed — Lex @ 11:10 pm
Tags: ,

John Cole asks, of the 2011 edition of Economics 101, “What don’t you understand?”

Our Galtian overlords have the most money they ever have [had], their taxes are at the lowest levels they have [been] in many decades, and they have plenty of money to blow on luxury items. Why? BECAUSE THEY HAVE ALL THE [expletive] MONEY. It’s no coincidence that luxury items are flying off the shelves while concomitantly, the middle class is slowing down their spending on food, furniture, etc. In fact, this is precisely the point many dirty hippies have been trying to make — we are never going to have an economic recovery until some people other than the Kochs and Warren Buffet have money to spend. And with unemployment at astronomical levels and with the official government policy to make things worse with austerity and then hope a magical unicorn comes sliding down a rainbow showering jobs on the middle class, it is going to stay this way.

If you can’t understand Krugman, maybe you can understand Cole. And if you can’t understand Cole, you’re screwed anyway.

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