Lazy Friday Quote: We Need Some Balanced Policy

But the reality is just the opposite: creditor-friendly policies are crippling the economy. This is a negative-sum game, in which the attempt to protect the rentiers from any losses is inflicting much larger losses on everyone else. And the only way to get a real recovery is to stop playing that game. Krugman

Our politicians and governing elite do not believe 9% unemployment and 20% underemployment is as important as low interest rates and deficit-cutting to maintain perfect conditions for rentiers. Politicians think they can get reelected with this kind of employment environment, but why? And will they? Maybe, if the media helps downplay the employment landscape.

Behold below the behavior of hard-hitting, tough-askin’ American Journalism – the fourth branch of government (which indeed, it is acting like the mouthpiece of government.) It’s like the rentiers and politicians whispered some sweet nothings to their fellow corporate media friends and the entire national media body just went off in a precipitate journalism quest to drown out awareness of employment conditions.

That really is a crazy graph since unemployment has never been this high for this long since the Great Depression. That’s such a story in itself – the lack of a story – it really brings it all home.

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