Comments on: Zero. Nothing. Nilch. http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Soiza http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30578 Tue, 06 Sep 2011 13:58:37 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30578 Not everybody is in debt, remember, somebody’s debt is somebody else’s income. The problem is the paradox of thrift, everybody scared and saving at the same time, the mirror image of the “irrational exuberance” during the boom times. Typical of capitalist business cycles. Financial crises precipitated by uncontrolled speculative behavior by the private sector is as old as Adam Smith and without government intervention, will continue ad eternum. The question is how long are we willing to let the recession go on and how many lives will be sacrificed in the process. The commentaries regarding the inherent positive aspects of private sector intervention versus the
self-defeating public sector have been proven wrong over and over the past 100 plus years. Those ideologues always focus on the fallen brown leaf and forget the rest of the tree.

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By: Soiza http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30577 Tue, 06 Sep 2011 13:58:36 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30577 Not everybody is in debt, remember, somebody’s debt is somebody else’s income. The problem is the paradox of thrift, everybody scared and saving at the same time, the mirror image of the “irrational exuberance” during the boom times. Typical of capitalist business cycles. Financial crises precipitated by uncontrolled speculative behavior by the private sector is as old as Adam Smith and without government intervention, will continue ad eternum. The question is how long are we willing to let the recession go on and how many lives will be sacrificed in the process. The commentaries regarding the inherent positive aspects of private sector intervention versus the
self-defeating public sector have been proven wrong over and over the past 100 plus years. Those ideologues always focus on the fallen brown leaf and forget the rest of the tree.

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By: mrpr http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30567 Tue, 06 Sep 2011 06:09:09 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30567 The reason for the lack of jobs is rather simple – there is no demand for goods and services and hence no demand for jobs. why is there no demand for goods or services – again the answer is simple – people are still trying to pay back the loans they have (credit cards, house, car, etc) which they took up in the earlier ‘good’ (if you want to call them that) years. the crisis has made people realise that high debt levels are no sustainable and now there is a rush towards paying that debt. this is the same debt that used to earlier fuel consumption. so now you have a double whammy – people are not using debt to fuel consumption anymore and people are also using their cash to pay back the earlier debt. there is little point in blaming the government in all of this. the responsibility directly rests with the people who took up unsustainable levels of debt to fund their lifestyle. we only have ourselves to blame and not the government.

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By: kapie http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30534 Sun, 04 Sep 2011 06:04:02 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30534 Nothing will change on Earth until the plantation owners are cornered in their lairs. It’s going to be a bloody and brutal affair, which will begin to unfold in the coming years, as the ancient impulses of a primitive humankind come to full flower in a new age of fascist technocracy.

The sooner the American people take to the streets in acts of peaceful conscious civil disobedience, the sooner this bleak picture may be amended.

I’m not holding my breath.

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By: Woltmann http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30533 Sun, 04 Sep 2011 03:40:06 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30533 Solution: Uneployment = u pu the trash bitch ..

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By: TFF http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30518 Sat, 03 Sep 2011 15:59:31 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30518 “What are Felix Salmon’s solutions?”

I thought he was advocating massive government spending, earlier? Maybe am confusing him with others.

My solution? Patience. We’re at best half way through the deleveraging process. It is very hard to imagine a real recovery until that completes. We could speed it up, but am not sure the economy could withstand a blow like that.

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By: jonereb http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30512 Sat, 03 Sep 2011 12:06:34 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30512 What Felix got right: “…the government is utterly incapable of creating jobs…” BINGO! Been saying this all along. Oh, sure. The gov’t can create gov’t jobs, but that won’t keep up with the demand. Only the private sector can do that. But since Obama has never held a private sector job, he doesn’t understand.

What Felix got terribly wrong: “…there can’t be much doubt that a significant part of the jobs weakness is a function of the anger and uncertainty caused by the utter dysfunction of the legislative branch of government.” OH PLEASE! The jobs picture dried up when the legislative branch and the executive branch were in perfect harmony. Remember? Pelosi, Reid and Obama gave us ObamaCare. Private business is still choking on that bitter pill. We the people decided gridlock would be a better option – until 2012. For now it’s the best we can do.

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By: brianinslc http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30511 Sat, 03 Sep 2011 11:48:26 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30511 Surel, this writer is in error. I’ll make the correction so it the column makes a little more sense.

“…there can’t be much doubt that a significant part of the jobs weakness is a function of the anger and uncertainty caused by the utter dysfunction of the executive branch of government.”

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By: TheEnforcer http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30509 Sat, 03 Sep 2011 10:50:35 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30509
“Zero. Nothing. Zilch.”

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Hate to disagree with you but after 3 years of being without a job, I finally found one.

So your headline should have been “One. One. Only One job.”

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By: redbourn http://blogs.reuters.com/felix-salmon/2011/09/02/zero-nothing-nilch/comment-page-1/#comment-30504 Sat, 03 Sep 2011 05:54:27 +0000 http://blogs.reuters.com/felix-salmon/?p=9714#comment-30504 Negative criticism is easy and we can all do it all day whilst standing on one leg.

Felix Salmon makes no attempt whatsoever to offer his solutions.

What are Felix Salmon’s solutions?

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