It won’t recover under Obama and a dem controlled Congress, no.
But it can come back...TAX CUTS and cut regulatory bs.
Reich is a hack lawyer without economics credentials. Why shouldn’t he see evil capitalism as the source of our troubles instead of the true culprit, evil government?
He’s prolly shopping his Super Saver ticket to Stockholm to accept his Nobel prize in economics this fall.
Small man, closed mind.
Start the drilling, lower taxes, in his mind those would not work.
When we are all waiters, waitresses, AC techs and doctors/dental assistants things will look brighter.
THAT'S the problem.
Not socialism and tyranny.
Not confiscatory taxation and hyperregulation.
No no no.
It's the EVIL BUSINESSES.
He didn’t get the memo.. GOVERNMENT GREED is the new CORPORATE GREED!
Robert Reiiccchhhhhh is ALWAYS wrong.
I have the feeling that Mr. Reich is sourcing the back-story here, you know, the one that is meant to confuse and discombobulate the official party line for no other reason than him being able to contradict his own words later, in a subsequent article. Arsonist putting out his own fire, as it were. Is this good Reich or bad Reich? No idea. Personally, I believe the US will find itself in a very, very sticky spot for a long time to come.
But I also believe that Reich should embrace his troll status more tightly and crawl back under the pictoresque New England bridge where he belongs.
“...he shows how corporate greed for low wages...”
Of course, worker greed for high wages had NOTHING to do with it. Only one side is the problem. Yeah.
However, he is more than likely right that our economy will never fully recover, but not for the reasons he states.
Too many Americans now depend upon the government and vote accordingly.
Reich is a dwarf..
http://www.youtube.com/watch?v=jkJGxfgU6Pw
Just more of the Administatration’s anti-Wall Street, anti-capitalist demonization propaganda. This guy’s a hateful little Marxist puppet whose arms, legs and mouth move when Soros pulls the strings.
Those evil, greedy, capitalist corporations want to make a profit! There ought to be a law against that! /s
Funny how he missed the part about constantly moving environmental regulatory targets which required multiple refits of existing industrial infrastructure, sometimes before the facility was ever put into operation. IIRC, one steel plant only made a test run (which showed it had excellent efficiency and emissions compliant with the law) but the law was changed again before it went into full production.
It was used as a movie set, dismantled and sold to the Chinese.
When the KGB funded outfits like Greenpeace with seed money during the Cold War, the goal was to cripple Western industry. It worked beyond their wildest dreams, and comtinues to, with the help of useful idiots and dirt-worshippers.
If America doesn't wise up, we're going the way of the Romans.