Now that Wall Street Mitt is on the verge of losing in Michigan, okay he’s looking at getting his soft rearend spanked, Mitt has converted. Last week he declared that labor unions impede economic prosperity, and this week, he said they were important to prosperity. Which is it Mitt?
Archive for February 21st, 2012
Posted in Economics, recession, free trade, Politics, Recessions, trade, trade deficit, Uncategorized, tagged austerity, Depression, Europe, Eurozone, government, Italy, Paul Krugman, Recession on Jpm2000000pmTue, 21 Feb 2012 12:59:57 +000012 10, 2010 | Leave a Comment »
A few European governments tried to cut back on spending during the greatest economic crisis since the Great Depression. Now look at them. Europe is on the verge of another recession, and the entire Eurozone may crack up. There’s a ton of reasons why. One of them is that Italy, for example, redistributed income and wealth from working folks to the rich, so now the demand for goods and services is miniscule in that country. Much of the manufacturing base is in China and Vietnam. The same holds true for a ton of those European nations.