Robert Reich: Recession to Last 2-3 Years
March 27th, 2010 | by admin |
Correction: Graphics on this video indicate this recording took place on Jan. 14, 2008. This is in error. It was recorded on Jan. 14, 2009.
Complete video at: http://fora.tv/2009/01/14/Robert_Reich_2009_Economic_Forecast
Former Secretary of Labor Robert Reich predicts the economy will begin to turn around in “two or three years” with prudent federal investment, but warns that U.S. unemployment rates may rise significantly without “effective government action.”
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As the economy nose-dives into a crisis of unknown depths, hear renowned economist and former Secretary of Labor Reich lay out his thoughts on what lurks around the financial corner in 2009.
Drawing on his years of experience both in and out of the political sphere, and sifting through the mountain of financial data, fiscal indicators, and government spin, Reich – who has been rumored as a contender for a position in the Obama administration – will cut through the hysteria and hyperbole to reveal where we’re headed in ‘09 – The Commonwealth Club of California
Robert Reich is professor of public policy at the Goldman School of Public Policy at UC Berkeley. He served in three national administrations; his articles appear frequently in The New York Times and The Washington Post, and he is a commentator for American Public Media’s Marketplace, heard on NPR.
Duration : 0:3:17
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25 Responses to “Robert Reich: Recession to Last 2-3 Years”
By pmamae1 on Mar 27, 2010 | Reply
In the words of …
In the words of Animal Mother “Flush out your head gear new guy”. …Your statement was correct back in Desert Storm Days when we were fighting Army vs Army, but Haji HAS infact blown up quite a few M1A1 Abrams in Iraq over the years. Especially in 2004-2005.
By BRYAN351 on Mar 27, 2010 | Reply
pmamae1, the last …
pmamae1, the last time I heard, no M1A1 Abrams tank has EVER been destroyed in combat. The tank (as well as their crews) are just that good. This is why none have been replaced.
By rigoletto68 on Mar 27, 2010 | Reply
Shiller NYT June …
Shiller NYT June 6th
“HOME prices in the United States have been falling for nearly three years, and the decline may well continue for some time. Even the federal government has projected price decreases through 2010. “
By macdogq on Mar 27, 2010 | Reply
well said.
well said.
By rigoletto68 on Mar 27, 2010 | Reply
Bright man….good …
Bright man….good to hear the truth for a change…this type of media is banned form the mainstream news………sad….
By MeBoReDsOiLoGiN on Mar 27, 2010 | Reply
Robert Reich is …
Robert Reich is HORRIBLE!!! look him up and find out for yourself.
By phnixlady on Mar 27, 2010 | Reply
Absolutely. Firstly …
Absolutely. Firstly, no jobs! 2, It is hard to get in, new requirements, off-the-wall certifications in every tiny task, and ageism/racism are rampant here in CA. I would not need the certifications if I just got here, tho. Argh. l,p
By pmamae1 on Mar 27, 2010 | Reply
I do not believe …
I do not believe this war is “booming” the economy too much. Simple fact is that the current wars are “low-intensity” conflicts. They aren’t like WWII where the nation is on a “total war” footing producing thousands upon thousands of tanks, ships, and trucks here at home. Most of the stuff these days gets refurbished. I do not believe a lot of stuff is getting replaced. There aren’t any new M1A1 tanks getting produced to replace the ones haji is blowing up. The only profiteers are KBR, etc.
By rspark09 on Mar 27, 2010 | Reply
Agree on taxes, but …
Agree on taxes, but War booms economy with jobs and manufactoring, our problem is we sold all of our assets to foreign interests.
By jboogie2192 on Mar 27, 2010 | Reply
Im moving to japan. …
Im moving to japan. LOL. nah but I do think things shall get better but he is true.
By TallWhiteMale on Mar 27, 2010 | Reply
we deserve this …
we deserve this because we made this shit. You make your own bed and then you lay down in it!!!!
By abe1dasilva on Mar 27, 2010 | Reply
…
wahahaahaahaaahahahah it is funny how the USA is in recession now!.The USA is gonna be a lame third word country! hahaahahaahh
By davidmesaaz on Mar 27, 2010 | Reply
It will the way …
It will the way that we are handling it right now…
Barney Frank is giving money to banks that are in his district.
We really don’t know what Obama will do with the Banks. Is he going to tear up all trade deal? Raise taxes?
By snappa52 on Mar 27, 2010 | Reply
People are …
People are discouraged because they keep getting refused by employers, or there is no work. It is not because they dont want to work.
By elsmorej on Mar 27, 2010 | Reply
Robert Reich is a …
Robert Reich is a RACIST and Obama needs to Fire Him!
Check out this video…
“Michael Savage – “Whites need NOT apply” says Robert Reich, Obama Economic Adviser”
By wavernr on Mar 27, 2010 | Reply
And he proposes to …
And he proposes to do this by giving jobs to folks who don’t want them? He’s not a very bright feller is he?
By pmamae1 on Mar 27, 2010 | Reply
Slash Taxes acroos …
Slash Taxes acroos the board, cut the capital gains tax in half and pull the troops out of Iraq and Afghanistan. Poof, economy will be on it’s way to recovery.
By kbr7171 on Mar 27, 2010 | Reply
Reich refer to …
Reich refer to people wwho think this will turn in 4Q ‘09 or 1Q ‘10 as Pollyana’a and then goes onto to say that he believes it will last 2-3 years. Well We’ve been in a depression since Dec ‘07 so if it turns on 4Q ‘09 or later that’s TWO YEARS!!!!
By ApocalypticMetalHead on Mar 27, 2010 | Reply
“Could” being the …
“Could” being the key word here, that’s my point.
By FoShizzle951 on Mar 27, 2010 | Reply
Not really. People …
Not really. People predicted in the 1930’s the Great Depression would last 2-3 years. Obviously, they were wrong. So Robert Reich could be right.
By stargen5 on Mar 27, 2010 | Reply
Of course he is …
Of course he is full of shit! He gets paid for giving speeches…not for doing anything for the economy. What do you think he’s doing there.
By stargen5 on Mar 27, 2010 | Reply
recession, …
recession, depression, self-fulfilling prophecy…that’s why you can talk yourself into a real depression, and even worse…that is why people cannot talk about it.
By JXjohn on Mar 27, 2010 | Reply
save first, then …
save first, then spend what you have.
By alfy1234 on Mar 27, 2010 | Reply
I guess we will …
I guess we will keep printing money forever. Here comes the 50.00 loaf of bread. Maybe he’s not seeing the same things some of us are.
By allgoo19 on Mar 27, 2010 | Reply
According to the …
According to the definition of “recession” in econimcs, economic downturn continues for 2 qtrs.(6 mon).
If it keeps going for 2-3 years, it’s not a recession any more. It’s a depression.
Why people are afrid to use the term? It’s exactly what it is.