I love It When Christina Romer Agrees With Me

The current problems with our economy are demand based.  In this respect, they are similar to the problems of the Great Depression of the 30's.  An article in the Wall Street Journal Blog "Real Time Economics" - a surprisingly straight-forward presentation of excerpts from Christina Romer's prepared remarks for a presentation at Princeton - includes the following quote.

The overwhelming weight of the evidence is that the current very high—and very disturbing—levels of overall and long-term unemployment are not a separate, structural problem, but largely a cyclical one. It reflects the fact that we are still feeling the effects of the collapse of demand caused by the crisis.

This is pretty straight forward.  But if you click the comments tab at the SWJ link you'll get another glimpse in the into the surreal world of  ugly, nasty, and thoroughly wrong headed right-wing thinking.

I recommend staying away.  But if you go, be prepared to be disgusted.

H/T to Delong.

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