Frank: The Economic Crisis: Lessons Unlearned - WSJ.com

CAN'T GO BACK, BUT HAVE A HARD TIME DECIDING TO MOVE FORWARD: Frank: The Economic Crisis: Lessons Unlearned - WSJ.com: "- Sent using Google Toolbar"

Worth reading is Donlan's article in this week's Barrons:

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Editorial Commentary
Dr. Feelgood, Call Your Office
by THOMAS G. DONLAN

There's a problem with the prescription for macroeconomic stimulus.
http://online.barrons.com/article/SB50001424052970204203204575411490821689592.html?mod=BOL_twm_fs

With the pejorative slant at those who know how to prosper during these changing times (the snide remarks about bankers), one wonders why the parallel encouragement of the other parts of the population to see that the way they earn their living has to change isn't also part and parcel of the litany?

As with Donlan, one recalls all the 19th rant about the loss of family farms and the supposed idyllic life supplanted by industrialization. But, there was no going back in the 19th century and there is no going back now. The world is changing and one can either grow and change with it or eventually fail.

Sure, it would be nice in some dream state to have the closed-economic-cycle the UAW sought in the domestic car industry, but just as that failed, so will the economic entitlement policies of the Democrats.

How all of this will work out is less clear than the proven path of failure seen in overtaxed and over-benefited states like California. (To think that as the 8th largest economy in the world, the budget problems of California deserve less interest and attention than those of Greece (who knows how very much farther down the ranking the Greek economy is) suggests that all wits are not about the media!)