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September 15, 2010

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Alain

While this is shameful it is not to be unexpected. The neoliberal line consistently shuns "government programs" unless they are designed to help the wealthy or large financial institutions.

I thought you might find this headline from the UK Telegraph interesting: "IMF fears 'social explosion' from world jobs crisis." It goes on to say: "A joint IMF-ILO report said 30m jobs had been lost since the crisis, three quarters in richer economies. Global unemployment has reached 210m. "The Great Recession has left gaping wounds. High and long-lasting unemployment represents a risk to the stability of existing democracies," it said.

The study cited evidence that victims of recession in their early twenties suffer lifetime damage and lose faith in public institutions. A new twist is an apparent decline in the "employment intensity of growth" as rebounding output requires fewer extra workers. As such, it may be hard to re-absorb those laid off even if recovery gathers pace. The world must create 45m jobs a year for the next decade just to tread water.

The fact that a "Democratic" president could ignore the obvious is a testament to the blindness of ideology. When the Republicans take over the last vestiges of civilization will be dismantled and darkness will fall over America. I have never been more hopeless for the economic future of the United States.

Robert Allen

(from Lou Proyect quoting Zizek) : From “A Permanent Economic Emergency” in the latest New Left Review:

The best indicator of the left’s lack of trust in itself today is its fear of crisis. A true left takes a crisis seriously, without illusions. Its basic insight is that, although crises are painful and dangerous, they are inevitable, and that they are the terrain on which battles have to be waged and won. Which is why today, more than ever, Mao Zedong’s old motto is pertinent: ‘Everything under heaven is in utter chaos; the situation is excellent.’

Jodi Dean

thanks for the heads up--great passage

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