POR OUTRO LADO, A CHINA

Um interessantíssimo artigo de Robert Reich, aqui.

Why China's Currency Annoucement is Hokum

SUGESTÕES

Paul Volcker to Barack Obama

Robert Reich

Former Fed Chair Paul Volcker is briefing President Obama today on how well the stimulus package is doing. I have no inside knowledge of what he's saying, but if I were Volcker (and I'm not -- he's almost two feet taller than I am), I'd say the following:

Mr. President, it's way too early to know exactly what the stimulus is doing because the money is barely out the door, but I've got to tell you I'm worried as hell. Unemployment is at 8 percent, and underemployment is over 14 percent of the workforce. The economy is shrinking much faster than it was when you put the stimulus together. It will be more than a trillion dollars short of its full capacity this year, and I have every reason to believe the same next. State governments alone are hundreds of billions in the hole, creating a huge drag. So your $787 billion over two years, only two-thirds of which is direct spending, isn't going to get us nearly far enough. I'd strongly recommend you make ready a second stimulus, about the same size, and get it enacted as soon as possible, with the proviso that it will be implemented if and when unemplyment hits 8.5 percent or underemployment reaches 15 percent.Oh, and by the way, Mr. President. You may not want to hear this, but your Treasury Secretary is making things worse. His dithering on what to do about Wall Street, and his incapacity to speak clearly to the Street and to the public about what needs to be done, is spooking everyone. Why doesn't he just put the irrevocably insolvent banks into receivership under the FDIC, sell off their assets, protect depositors, and reimburse taxpayers with whatever remains? Let the rest of the banks fend for themselves -- working out their bad loans with their creditors. As to AIG, well, that's a complete basketcase. Put it out of its suffering. Take it over, sell its assets, protect policy holders (you'll need to create a big co-insurance plan with every other major insurer in the world), then get out.

Want a cigar?

JOBS

The Stimulus: How to Create Jobs Without Them All Going to Skilled Professionals and White Male Construction Workers
Robert Reich

The stimulus plan will create jobs repairing and upgrading the nation's roads, bridges, ports, levees, water and sewage system, public-transit systems, electricity grid, and schools. And it will kick-start alternative, non-fossil based sources of energy (wind, solar, geothermal, and so on); new health-care information systems; and universal broadband Internet access.It's a two-fer: lots of new jobs, and investments in the nation's future productivity.But if there aren't enough skilled professionals to do the jobs involving new technologies, the stimulus will just increase the wages of the professionals who already have the right skills rather than generate many new jobs in these fields. And if construction jobs go mainly to white males who already dominate the construction trades, many people who need jobs the most -- women, minorities, and the poor and long-term unemployed -- will be shut out.What to do? There's no easy solution to either dilemma. But there's no reason to think about "green jobs" as simply high-tech. Many low-income and low-skilled workers -- women as well as men -- could be put directly to work providing homes and businesses with more efficient and renewable heating, lighting, cooling, and refrigeration systems; installing solar panels and efficient photovoltaic systems; rehabilitating and renovating old properties, and improving recycling systems. "Green Jobs Corps" teams could be trained to evaluate and advise homeowners and businesses on these and other means of conserving energy.People can be trained relatively quickly for these sorts of jobs, as well as many infrastructure j0bs generated by the stimulus -- installing new pipes for water and sewage systems, repairing and upgrading equipment, basic construction -- but contractors have to be nudged both to provide the training and to do the hiring.I'd suggest that all contracts entered into with stimulus funds require contractors to provide at least 20 percent of jobs to the long-term unemployed and to people withincomes at or below 200 percent of the federal poverty level. And at least 2 percent of project funds should be allocated to such training. In addition, advantage should be taken of buildings trades apprenticeships -- wich must be fully available to women and minorities.