Not long ago I posted a thread he started blasting "shovel-ready jobs" as a scheme that had no chance of success because labor is not fungible. You can't pick people from one vocation and drop them in to another, i.e. turning home-builders into bridge-builders.
Now this.
First, some OP for background:
krispos42 (1000+ posts) Fri Oct-14-11 07:57 PM
Original message
the "wages must be HIGH so people can BUY" pic of Roosevelt...
Edited on Fri Oct-14-11 07:58 PM by krispos42
I'm looking for it.
It was in somebody's sigline but I haven't seen it for a week or two. Either the guy changed it, or he's not posted in a while.
anybody know where I can find it?
So absolutely lacking in the basics of economics it's embarrassing to admit a US president said it.
Then enters dkf:
dkf (1000+ posts) Fri Oct-14-11 08:03 PM
Response to Original message
2. Then prices must be high so wages can be high.
Out
of
the
PARK!
He's not going to last there for much longer.