Wednesday, December 10, 2008

Coming Down The Pike

How will business and life change during the Depression? Charles Hugh Smith has some good reflections.

BTW, it is easy for me to imagine Obama's New Deal failing pretty miserably, as his infrastructure projects will probably be make-work and symbolic, and will not help things at all since resources and labor will be wasted on them. The economy will continue to get worse and people are going to become deeply resentful of a new class of entrenched special interests: namely those (relatively few in number and also politically connected in one way or another) with the new make-work jobs.

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