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May 18, 2015
Economist: The Economy Might Stink For a Long Time to ComeRush Limbaugh was just talking about this article, which had been published in the New York Times. His take was that as it had been excerpted at Yahoo News, Low Information Voters and Millennials (but I repeat myself) would actually see it when they came to Yahoo to read about "Jay-Z, Beyonce, and Jennifer Lopez and her butt." The economy might stink for a while. Tyler Cowen writes in the New York times that we may be experiencing a "Great Reset," in which the economy is shifting for a permanent reduction in output and wealth. Let's consider an analogy to see how this might work in practice. Cowen notes that the negative effects -- reduced wages, chiefly -- fall disproportionately on the young, aka The Obama Generation, so the next generation is being taught to accept lower wages, both now and in their futures. Limbaugh's take -- apart from the fact that the ignorant would finally see some news about the Obama economy -- is that this article is still making excuses for Obama, still suggesting that this is entirely due to tectonic structural forces that Obama couldn't possibly have anything to do with, and obviously, then, he should not be blamed. It is astonishing to see how our economy has essentially been downsized to Italy West, and yet the elites are so heavily invested in Obama they 1, try to ignore this fact, and 2, when forced to confront it, claim that policy is entirely irrelevant when dealing with such large-sized structural forces. Obama wanted to transform America into a European country. Well, he got his wish. Why don't the elites celebrate this, instead of trying to cover it up?
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