[lbo-talk] unemployment? not so bad!

Doug Henwood dhenwood at panix.com
Thu Feb 5 12:53:23 PST 2009


On Feb 5, 2009, at 3:39 PM, C. G. Estabrook wrote:


> REVIEW & OUTLOOK
> JANUARY 31, 2009
> A Capital Strike
>
> Yesterday's fourth quarter GDP report came in less awful than
> expected at a 3.8% decline at an annual rate, but take no solace
> from that. The decline in the economy would have hit 5% if not for a
> buildup in inventories that won't be sold any time soon. American
> consumers and investors are on strike until they see some assurance
> that the worst is over -- and Washington's tower of babble isn't
> helping on that or any other score...
>
> http://online.wsj.com/article/SB123336321034435421.html

Another right-wing source that hates big gov and thinks capitalism only goes awry when the state gets involved.

Doug



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