{"id":18795,"date":"2016-01-05T09:22:56","date_gmt":"2016-01-05T17:22:56","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=18795"},"modified":"2016-01-05T09:22:56","modified_gmt":"2016-01-05T17:22:56","slug":"the-reich-on-the-left-is-right-again","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2016\/01\/05\/the-reich-on-the-left-is-right-again\/","title":{"rendered":"The Reich on the Left is Right Again!"},"content":{"rendered":"

Robert Reich explains that economic forecasting can be dicey at best, but some satiations are so obvious, that even I can be accurate, as I was in predicting the Republican depression of 2008.  It came three months earlier than I had predicted.  Now we face the fallout that must come from continuing to use supply-side economic policies in the face of demand-side economic problems.  The Reich on the right, the Republican Reich, is wrong.  Listen to the Reich on the left, Robert Reich.<\/font><\/p>\n

\n

\"0105Robert-Reich\"Economic forecasters exist to make astrologers look good, but I\u2019ll hazard a guess. I expect the U.S. economy to sputter in 2016. That\u2019s because the economy faces a deep structural problem: not enough demand for all the goods and services it\u2019s capable of producing<\/strong>.<\/p>\n

American consumers account for almost 70 percent of economic activity, but they won\u2019t have enough purchasing power in 2016 to keep the economy going on more than two cylinders. Blame widening inequality. <\/p>\n

Consider: The median wage is 4 percent below what it was in 2000<\/strong>, adjusted for inflation. The median wage of young people, even those with college degrees, is also dropping, adjusted for inflation. That means a continued slowdown in the rate of family formation\u2014more young people living at home and deferring marriage and children \u2013 and less demand for goods and services. <\/p>\n

At the same time, the labor participation rate\u2014the percentage of Americans of working age who have jobs\u2014remains near a 40-year low.,, [emphasis added<\/em>]<\/p>\n<\/blockquote>\n

Inserted from <Robert Reich<\/a>><\/p>\n

Click through for more explanation on how Republicans are feathering the rich\u2019s nests, but sabotaging economic prosperity for the rest of us.  The Reich on the left is right again!<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

Robert Reich explains that economic forecasting can be dicey at best, but some satiations are so obvious, that even I can be accurate, as I was in predicting the Republican depression of 2008.  It came three months earlier than I had predicted.  Now we face the fallout that must come from continuing to use supply-side […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-18795","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/18795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=18795"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/18795\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=18795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=18795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=18795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}