Quote of the Day

MANIFESTO

“One of the reasons that the recovery has lost momentum is that high-end
consumers have become more jittery and more cautious.”

— Mark Zandi, chief economist for Moody’s Analytics

Krugman (and Keynes, of course) pretty much have it right: Incentives are needed to create jobs for the hoi polloi who don't have them. They're the ones who'll spend money for necessities and get the economy going again. Clearly, the country won't get out of its tough economic times if it has to depend on the patrons of Coach and Gucci.

Meanwhile, the Republicans block every attempt to create economy-helping incentives because that would necessitate tax increases. Their small minds make it impossible for them to pay any attention at all to the big picture of increased revenue as a result of increased employment. Sigh.