July
26th 2011
Oh noes–anything but that!!!

Posted under: American history, European history, jobs, unhappy endings, wankers

Get this:  via The Daily Beast, International Monetary Fund head Christine Lagarde says the U.S. had better solve the debt ceiling crisis, or else:

Unless politicians agree a package by 2 August the US may be unable to pay its bills, triggering an economic crisis.

On Tuesday the dollar fell against the euro whilst US shares opened down.

But Ms Lagarde warned against drastic cuts in spending, saying these could create a “jobless recovery”.

Our reality:  u haz it rite!  Maybe she should have said it would mean even more job-lessness in our so-called “recovery?”  In which case we must ask:  what part of this reality is the “recovery,” and can we stage an intervention in Congress and in the White House already?

11 Comments »

11 Responses to “Oh noes–anything but that!!!

  1. Indyanna on 26 Jul 2011 at 9:02 am #

    Coincidentally or otherwise, I spent a few minutes last night printing out Assignats from the Wikipedia site. (I have certificates No. 37304 and No. 37305 from la creation du 29 Septembre 1790, for the record). There was an actual scholarly reason to be doing this, but I wonder if I shouldn’t download a few more this evening, just to be on the salut side? I’m predicting that the “wankers” tab is going to get a workout around here in the forseeable future.

  2. joellecid on 26 Jul 2011 at 11:54 am #

    It reminds me of the “short” recession in 1987 and the recovery that was happening when I graduated college in 1993 to no jobs. They need to stop thinking that when the CEOs get paid, the recovery is on. So the Dow is up? Tell that to the 10% unemployed, all of whom won;t be seeing any money as of August 2nd.

  3. fratguy on 26 Jul 2011 at 12:00 pm #

    I recently heard some was on the radio call the the “recoveryless” recovery.

  4. koshembos on 26 Jul 2011 at 12:52 pm #

    Ms Lagarde is right. The “deficit is coming” mob is a mob. No mob participant will change hir mind, but we shouldn’t vote for mobees in the next election (the reactionary-in-chief included).

  5. Tenured Radical on 26 Jul 2011 at 3:38 pm #

    Just leaving Minnesota, the state that shuttered its doors. Perhaps the greatest crisis here has been the Miller Brewing Company’s failure to renew its brewing license prior to the shutdown, which means that there is much rending of garments over the imminent disappearance of beer. Oh yes, and fishing licenses cannot be obtained, and if you adopt a baby out of state you can’t bring it home.

    What next? I ask you? Other than a bunch of pissed-off babies fishing and drinking beer in Wisconsin and the Dakotas?

  6. Indyanna on 26 Jul 2011 at 8:40 pm #

    Bliss to be alive if you’re a muskie in Lake of the Woods this summer, I guess, but if the state can’t keep their enforcement staff in the field, who’ll bother about having a license? I learn today that a small research stipend I was awarded in the spring has enough federal roots to it that it will likely get tangled in the Boehner Triangle if things fall apart next week. Good to have a little “skin” in the game, I suppose. I’m going to print a few more assignats, just in case.

  7. Z on 26 Jul 2011 at 11:23 pm #

    Hey, I can’t believe I didn’t think of this – there are a lot of Federal dollars that go into universities, will we all have to shut down? Wheeee.

  8. Historiann on 27 Jul 2011 at 6:22 am #

    Indefinite sabbatical for everyone! (Albeit unpaid.)

  9. Leslie on 27 Jul 2011 at 7:32 am #

    Gah.

    My university’s general response to fiscal crisis has been hiring freezes (thawing slightly), double digit tuition increases, and attempts to break the unions, or at least blame as much as possible on them. Not filling staff positions so that remaining staff are overworked and demoralized. Oh, that and the slash and burn reductions put off on individual campuses and departments.

    That’s just about state money. Any of the no-tax-increase lawmakers who want to see what happens when you try to fix a budget crisis by emphasizing cuts over new revenue should look to the state of California. It ain’t pretty.

  10. Tom on 27 Jul 2011 at 9:26 am #

    That’s crazy talk, Historiann. Everyone on the tv says we need a recovery that makes more job creators, not more jobs.

  11. N G on 28 Jul 2011 at 7:44 am #

    Enjoy your political/economic conversations on your blog while you can. There is a governmental cross agency integrated plan to detect individual bloggers whose ability to contribute to political persuasion rises above a predetermined threshold. These folks could then be excised from further dialogue using a variety of methods including the new extensions to the “criminal uses” of the Internet as well as old fashioned wiretaps.

    I put a discussion on this point on my blog under “how mass media reframes issues.” By the way, I’m also interested in history.