Obama adviser Summers says US in 'human recession'

[G_j]

http://www.boston.com/news/world/europe/articles/2010/01/30/obama_adviser_summers_says_us_in_human_recession/

Obama adviser Summers says US in 'human recession'
January 30, 2010

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DAVOS, Switzerland—President Barack Obama's top economic adviser says the U.S. is experiencing an economic recovery on paper but a "human recession" because of job losses.

Lawrence Summers, director of the White House National Economic Council, told a panel at the World Economic Forum in Davos on Saturday that the latest figures showing strong U.S. economic growth suggest Obama's policies to prevent economic collapse are working.

But the level of unemployment in the U.S. is disturbing, with one in five men between the ages of 25-54 not working. Summers says the U.S. and other economies are seeing "a statistical recovery and a human recession."

[lunatica]

1. It looks more like human depression to me

I've experienced depression, but I have no idea what kind of emotion recession is. pseudo depression? Quasi depression? sub-sad? uber unhappy? High downer?

[wackywaggin]

2. Translated

The rich are getting richer and ther poor are getting poorer, ust how we planned. Full steam ahead!!

Heretic Wack :crazy:

[SharonAnn]

5. Wall Street is doing well. Main Street is doing badly.

[inthebrain]

3. That's because the system works

Capitalism doesn't exist to pay people well or offer jobs. When the system works it does so by reducing expenses (workers) and increasing profits.

[HeresyLives]

4. 27 million jobs have been lost around the world.

And most of them aren't coming back.

[DJ13]

6. He really wants to keep his job, doesnt he?

Of course he says this stuff AFTER he and Geithner spent an entire year looking out for the Wall Street crowd.

Its a little too late to just now notice that the average person is hurting thanks to policies he help get enacted back in the late 90's.

[sandnsea]

7. The real estate boom was statistical too

Nobody could afford the human real estate market - that's why the bubble burst. Gads. Economists. They need to visit with Michelle's mom.

[OHdem10]

8. If you have the time and can, may I suggest you watch Charlie Rose

on Bloomberg New Monday at 8pm or 10 pm. Sommers from Davos
for the hour. I think you will find he is on our side.

I watched him on CRose on PBS last night. Very informative.
Yes, he is not the most exciting speaker in the world,
but the information is worth it.

[G_j]

11. thanks for the heads up nt

[EFerrari]

9. I really detest this man. 'Way to abstract suffering, Summers.

[aquart]

10. There is no recovery. There is only Wall Street greed.

NOTHING will get better until we jump on their backs and regulate their asses.