Bruce Greenwald: The Death of Manufacturing & the Global Deflation

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1. What an interesting talk by Mr Greenwald.
   
   Greenwald states there is a problem sustaining full employment. Yes that is true but only if you see unemployment or under employment as a role for government to address. (at 5.40)
   
   The problem Greenwald does not recognise is that it should not be the role of government to address underemployment by creating jobs since the government is run by politicians who do not know what jobs are in demand and always play the politics card not the card that says multitude of needs have to be satisfied according to what people themselves are willing to allocate their own priorities to by purchasing goods or services that they themselves need rather than what some politician decides they might need.
   
   The second part in which he goes wrong is the failure to recognise the role government had again in reducing the agricultural output of farms during the early part of the great depression in order to Push up farm prices. This was done by measures such as the Marketing quotas which Hoover and then FDR government passed with an intention to restrict output in order to push up the prices of farm goods to pre determined levels. The establishment of the Farm Bureau Federation and Extension Service in 1930 did just that and farm output dropped and was unable to grow again because of the restriction. Later the FDR administration passed the Resettlement Act to re settle people on farms according to the administrators' decisions which included putting farmers on marginal lands. Just at a time when the increased sizes of farms was more appropriate due to more mechanisation rather than smaller farms that the Act encouraged. Instead efficiencies were reduced instead of increased. The result of foolish restrictions and incorrect ideas that were apparent at the time and even brought to notice by respesentative farming bodies to no avail.
   
   He is right in what he is saying about the surpluses.
   He misses the problem of government taking on what it can only fail at - addressing underemployment of a minor part of the workforce who are unemployed at the cost to the overwhelmingly massive majority.
2. I think "death of manufacturing" is a very over-stated claim
3. Bruce is a voice in the wilderness of financial double speak, but the guy has to lose some weight. We need him to stay around and keeping making his arguments.
4. and how will we pay for these services, which are coming under "jobs" creation?
   and how many of these "jobs" are actually better off left not doing, because they are harmful to the planet and often degrading to the worker.
   good sensible progressive education is available on line for free at the learners convenience. and that includes medical self care, which is much more conscious than somehow "buying" the cure.
   a BASIC INCOME can allow us, the people, to have the time again to GET CONSCIOUS of what is happening. it is a global movement that is interacting with the system in a way that shows clarity. and it will move us all in a direction of understanding and developing TRUST.
   the money to do this is created from nothing, like it has been done for years now. the usury is something that can be clearly seen as an impossible thing to ever solve. Even paying back any of a loan which was created from nothing should not be necessary.
   how do we change the fact that money has become more powerful than life itself?
   by giving every individual enough money to care for life and reduce stress, and most importantly to walk away from the harmful "jobs" which are killing us all, and the planet, only in the name of "making money".
5. thanks for posting