Monday, June 8, 2015

Urgency No More

At this writing I have two posts tagged "Urgency" -- one from February, one from September, both from 2009.

And there is this Reddit headline, from June of this year: Americans are savers now. It's a problem for the economy

Yeah, well, six years gone by. No urgency now. People are getting used to things this way. The lower-level, slower-growth-of-income, slower-growth-of-output economy is indeed becoming the new normal.

That was why there was urgency. The need was to restore the economy to a higher level of employment and a lower level of unemployment before people started getting used to the idea of spending less. Before people got used to the reality of living with lower living standards. But it's too late for that now.

Oh -- and it's not a problem for the economy. It's a problem for people. It's a problem for the people who lost out. You know, the 99%. Maybe even the 100%.

The economy doesn't care if people lose out. But it's a problem for people.

That's why there was urgency.

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