The New Deal and the New New Deal

Robert Reich, Robert Reich's Blog: "The stock market reached a six-year low today. Why? Some blame loose talk (including that of former Fed Chair Alan Greenspan) about nationalizing the nation's banks. Others blame Obama's new plan for helping homeowners who may not be able to pay their mortgages. But the real culprit is the accelerating decline in aggregate demand - consumers, businesses, and exports. Companies are losing money because their customers are disappearing. That's precisely why the stimulus is so important - indeed, why many of us fear it's too small."

http://www.truthout.org/022009U



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