The mutating crisis of capitalism

[bigbadwolf]

Thought-provoking essay by a Canadian prof. Even if you don't agree with him, it's refreshing to see a point of view orthogonal to those of the smiley faces, who are saying the "recovery" has already begun.

 

[IlyaKEightSix]

"Finally, a report came out from the Organization for Economic Cooperation and Development (OECD)--essentially the 30 largest Western economies. The OECD released a report last month warning of a "lost generation," with youth unemployment in those 30 countries officially at 19 percent. That's the official rate, and of course, as we know, it's much, much higher in many countries. For example, the official unemployment rate in Spain is 20 percent right now, with youth unemployment in the high 30s in Spain right now."

Yep. And it's hitting full force chez moi. I wonder if our wonderful President Obama is aware of this, and what he plans to do about it.