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Robert J. Samuelson: Bubble mania

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  • 10CC Bountiful, UT
    May 6, 2014 8:02 a.m.

    I don't always agree with Samuelson, but he accurately describes how the Great Recession became far worse that it should have because of the hands-off policy of government leaders, which led to a spiral.

    As the distribution of income gets more concentrated, we can expect more "bubbles", as growing capital looks for more opportunities for investment in the face of anemic aggregate demand.

    In other words, pizza delivery drivers just don't have the buying power of engineers.

  • marxist Salt Lake City, UT
    May 6, 2014 11:07 a.m.

    "The 1929 stock market crash did not cause the Great Depression. The government's too-passive response, turning what would have been conventional downturn into a tragedy, was the main culprit. "

    True, but understand there would have been no response had it not been for the agitation of socialists and communists inside of the U.S. The response to the 2008-2009 collapse has been too tepid because socialist parties are weak in the United States.

    There is a place for socialist parties in the political fabric of the United States. They are necessary, and you will hear more from them.

  • Z South Jordan, UT
    May 6, 2014 12:09 p.m.

    @marxist, we already have a socialist party in the United States. But to avoid the current stigma in this country against socialists, they go by the name 'Democrats'.

  • marxist Salt Lake City, UT
    May 6, 2014 1:05 p.m.

    Re: Z "we already have a socialist party in the United States. But to avoid the current stigma in this country against socialists, they go by the name 'Democrats'

    As a matter of historical fact the socialist parties and the communist party forced issues to the point that the Democratic Party had to act in the 1930's. Regardless of your personal feelings about the Democrat[ic] Party, there is a difference in these parties.

    And, as the distribution of wealth grows ever more top heavy, the "stigma" as you put it against socialists is vanishing.

  • 10CC Bountiful, UT
    May 6, 2014 2:46 p.m.

    Z:

    Think about it this way: is Utah defined by those who live here, or by others?

    Democrats don't consider themselves to be Socialists, and real Socialists definitely do not consider Democrats to be Socialists. That's why if you go to Europe there are actually different political parties with different names, such as "Socialists", "Social Democrats", "Christian Democrats", "Conservatives", etc.

    From an extreme right position, you might find yourself labeled as a "Communist" because you support the idea of tax money to educate children. Does this make you a real Communist?

    I wouldn't think so.

  • one vote Salt Lake City, UT
    May 6, 2014 7:58 p.m.

    Gold is the bubble.

  • marxist Salt Lake City, UT
    May 6, 2014 9:30 p.m.

    "Yeah - right. And I am also the Tooth Fairy." Said VST regarding my assertion of socialist viability. But consider:

    The rescue of big capital engineered by the Bush and Obama administrations, which saved the system from collapse, didn't really fix anything. The forces within capitalism toward unsustainable concentration continue unabated. So another collapse is on the way. A patch likely won't work next time. The body politic will be looking for new solutions, and we socialists will have them. You can count on us.