104. The economy
June 8, 2009 § Leave a comment
The reason there might be some exuberance among owners of capital, enough to invest , is that the economy has restrucured around a dynmaqic that pays out about as much, perhaps a little less, than say two years ago. But at a level with far less employment, hence with less cost. If those with money and jobs can perform solidly, then the payoff to the banks, the corporations and stockholders will be as high as it was, only the island is surrounded by a larger sea of misery and unemployment.
Meanwhile serious isues, such as health, education, energy and climate are forotten.
But what happens when we start getting state bankruptcies?