Reading stuff on HuffPo about lackluster predictions from economists

[Cary]

Curiously absent is any discussion on the need to boost middle class wages. Clearly boosting middle class wages is the key and we know what we have to do. We have to restore progressivity to the tax structure and restore our unions, and we have to restore our regulatory structure. This is exactly what we did to create the unprecedented general prosperity from 1945 to about 1980, and this is exactly what Carter started to dismantle. Of course it began in earnest under Reagan.

I am pretty sure that Obama hasn't begun to tackle these issues because of health care and the wars. I am certain we will see progress on these fronts after health care is no longer sucking all of the legislative life out of the room. These economist are insisting that we will have lackluster growth of 2% over the next decade. There is nothing magical about 2%. There is nothing magical about any of it.

There is also talk about when government pulls back. The economy knows no difference between government spending and consumer spending. So if we get more revenue from taxing rich people who have benefitted inordinately, that money can be spent on an infrastructure that has been seriously neglected, and better health care, and education.

[NJmaverick]

1. Just an educated guess, but I am thinking the economy will be an issue for

a few more years. What few people realized is the GOP mismanagement spanned years and like most things it will take as long or longer to clean up a mess than it was to make it.

[Cary]

2. I don't think so

Of course my guess is just that too. I am not disputing the fact of the GOP catastrophe, but bottom lines are much lower right now. Productivity is through the roof to the point of unsustainability, meaning that corporations must hire. The return of the consumer, even if not to the dizzying heights of the past couple of decades, means that the top line will improve and profits should follow.

I think the recovery might be stronger and quicker than expected. The fact that the "experts" are so gloomy is a plus in my book, being the contrarian that I am.