Glen L.

524,000 Jobs Lost in December; The Economy Is in a Depression

Peter Morici's article is a hodgepodge of good and bad economic analysis, but the real problem is his belief (shared by 99% of the population) that government can do something to cure the problems. Government is at the root of the problems, and has made them worse by market interference via the central banking cartel. There is no policy prescription to extract us from the mire; the only good thing that government can do is to drastically cut spending and taxes, radically downsizing itself so the private economy has room to produce and expand. Of course, government never does that without either violent revolution or default.

I vote for the latter.