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In the Future We Will Gather By the Outdoor Fire Pit
Ever since the events of late 2008, economists have gained greater popularity with the general public. {Nouriel Roubini, Paul Krugman, Brad DeLong, Dean Baker, Joe Stiglitz, William Black - they used to live in a much less trafficked world and if they were celebrities, they were probably only celebrities to other economists and a narrow sliver of the public.} No one knew who they were when they shopped for their fire pit.
The current recession is beginning to effect more people in a personal sense and they are looking for answers as far as how to cope. The curious ones have dug around for more on this branch of news and society: economics.
Ben Bernanke, who is the newly reappointed chairman of the Fed, has some similarities to Krugman. The two of them are an authority on the subject of the Great Depression of the 1930s. One thing that is true of tough times is that folks depend on the simple things like food, shelter, and the warmth of a fire. During hard times a makeshift outdoor fire pit was created by using a flaming oil drum.
Economists like Krugman and Bernanke are invariably affected by the length of bread lines and the number of apple vendors when they study their theories. The range of opinion of economist is of course very wide. It is difficult to decide which is more frightening - passing the Troubled Asset Relief Program (TARP), or even failing it! Economists of all political backgrounds are trying to carefully examine the details to prevent a catastrophe from occurring in an already unstable market.
So if you happen to be one of the lucky ones with a home, a green yard and a gorgeous fire pit by California Outdoor Concepts or Monterra - be sure to set aside some compassion for the unemployed. As James Baldwin once said " It could be the fire pit next time "
How The Hell Did GM Pay Back Its Loans "in Full And Ahead of Schedule"? Well, It Didn't.
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