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Robert Reich: 2010 Economic Forecast

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Commonwealth Club of California

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Bubbles Abound: Reich Says Be Wary of Commodities & China

02 min 17 sec

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Former U.S. Secretary of Labor Robert Reich warns easy money and stimulative policies may be creating the next global economic bubbles. He speculates that the two most worrisome candidates within the next year are commodities and China.
Reich Predicts Unemployment Rate Still Around 10% in 2011

03 min 25 sec

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Former U.S. Secretary of Labor Robert Reich predicts the national unemployment rate will still be around 10 percent one year from now.

He explains that the Bureau of Labor Statistics classifies the "unemployed" as those actively seeking work, a demographic he believes will increase as the state of the economy improves.
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01 hr 08 min 26 sec

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There are 10 comments on this program

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Previous FORAtv comments:

paul a.skillman

Posted: 07.11.10, 11:04 AM

Check out Richard Wolff-Capitalism Hits The Fan.

balthazarF

Posted: 03.20.10, 08:13 AM

@balthazarF, " ... Founding Fathers (white, male property owners), many of whom owned slaves ... Just to clarify, just as there were non-Christians at the time of the founding of the nation (marked by the adoption of the Constitution), there also were black, male property owners who owned slaves. The difference between white and black male capitalists at the founding is only the white were allowed to vote.

balthazarF

Posted: 03.20.10, 07:48 AM

@alfredote, " If president Obama starts a crusade to change the Constitution in order to affirm the sovereignty of the American people... Good sir, it does not take a change in the Constitution to affirm the power and authority of the people. It takes an intelligent and informed participation of the people adhering to their constitutional responsibilities. Informed by the Constitution and the history of more than 150 years of electing Democrats and Republicans (capitalists and lawyers [a redundancy]), why ever do you expect change when you repeat history with your vote? Capitalists who gained their capital from the monarchical system overthrown by the people were Founding Fathers (white, male property owners), many of whom owned slaves, while those who did not gave slavery their tacit approval. A war, a proclamation and an Amendment, and slavery was eliminated and the males were given the vote. It took till the 20th Century for females to gain the vote. Southern Baptists still hold the view that women are chattel. Since slavery the capitalists have legislated and maintained a minimum wage well below the level of poverty ensuring that Americans who work are denied capital opportunity through 'legal' wages of poverty. American workers do not own the jobs they do, therefore they cannot lose those jobs, regardless of the middle-class talking heads of the corporate media constantly reporting 'job losses'. That jobs once done by American workers are now 'outsourced' is evidence of the ownership of those still existent jobs. They are also evidence that capital is fungible and that capitalism has no national allegiance. The economic climate of America is the responsibility of the people. Do you recall the vote of the people to eliminate laws which prohibited usury? I do. I voted to keep those laws. Do you recall the change in Federal Banking Law which the capitalists enacted and which precipitated those votes in the states? I do. Do you realize that the Christian majority participated in those votes state by state? Do you realize that the Christian majority ignored their 2000 year old Zombie of dubious parentage who railed against usury why never addressing abortion or gay marriage? Do you see the problem?

Clara sin

Posted: 03.17.10, 11:14 PM

What else did he do but know the Clintons?

alfredote

Posted: 02.22.10, 10:56 PM

He doesn't know what to do about the SUPREME COURT CAMPAIGN FINANCE DECISION, since the Supreme Court is "the last word" ? What a lack of political vision! The answer is simple: a CONSTITUTIONAL AMMENDMENT ! The Supreme Court is NOT the last word: the American people are! If president Obama starts a crusade to change the Constitution in order to affirm the sovereignty of the American people, he would rally massive popular opinion: isn't it obvious that nobody could oppose it with a straight face, especially in today's anti-Wall Street mood? He would kill two birds with one stone: muzzle illegitimate opponents, and earn massive political capital! (If a friend of Obama's reads this, please pass on the suggestion!)

Jann

Posted: 02.22.10, 04:29 AM

Coffee-cup-reading business brought the economy down in the first place. Nobody needs guys like Robert Reich.

Lana Seri

Posted: 02.05.10, 01:15 PM

He is already wrong according to the unemployment number today. What an Assclown.

Marko Kraguljac

Posted: 01.31.10, 06:24 AM

Mr Reich is a great and good intentioned person, but I would really like to find a place where people talk without facade about how things really are. Like for example: Serious and well informed discussions about structural unemployment, propaganda layer of modern world, true role of military industrial complex, true role and purpose of EU, reality without distortions as much as possible. Still havent found that. Everything I found so far on internet can be roughly separated into two groups. First group spreads more or less "official" views, measures and topics (mr Reich being one of better and more sophisticated examples). The other group "hates" the first and defends its position by same shallowness and lack of answers as the first group. And I am sure that some people know these things I am talking about, its not a fantasy. Someone maybe reads this and enlighten me.. who knows...

Calorus

Posted: 01.31.10, 01:29 AM

Personally, I agree with much of what he says, but disagree with the conclusions, remedies and warnings he delivers. The system is at this stage so broken and corrupted that some populism is absolutely what's needed. The system needs to turn its focus to the majority who ARE disenfranchised and who are falling through the cracks. People needs to look at the stimulus currently being pumped to the Military contractors as a distressing phenomenon. That arms spending is exactly the money that would bolster and support the economy at home. And to all of the nay sayer who dispute the importance or Government Spending in times of thrift, ask yourselves why Arms Companies have not been making the same sacrifices as others. The direction of Government funds to Energy, Health or Education could provide these positive and vital sectors the strength which is currently being wasted on the Military-Industrial Complex.