As Occupy Wall Street demonstrations have gone national and now global, observers are taking note of the prominent role of labor unions in this anti-business crusade. The rote denunciations of “corporate greed” at these events could be lifted from almost any AFL-CIO convention speech.
Roubinbi served as a senior economist for international affairs at the Council of Economic Advisers under the Clinton administration, and he spent a year working as lead adviser to Timothy Geithner, who was then undersecretary for international affairs.
Government is not the answer nor are Keynesian makeshift work programs that will hire a few union workers at monstrous costs, fixing little. We need to fix structural problems.
How dark will social mood become? I don't know, nor does anyone else. Much depends on protectionism, tariffs, and other misguided policy decisions by Congress and the Fed.