Problem is...history never repeats itself exactly...it just rhymes.
I see a large portion of the problem being that wages in America have stagnated over a decade. No amount of money in terms of credit liquidity is going to help if your paycheck doesn't pay enough to live on. A commentator the other day (forget his name on CNBC, but he runs a big firm) said that the recession will likely last 10-15 years because "80-85% of Americans are broke, if you exclude their home values and equity, which really doesn't help pay the bills from month to month." I couldn't agree more, and the corporations certainly don't want to hear that! What are the companies going to do when everyone is too broke to buy their products and services? It's happening now!
A college education used to be an almost certain ticket to at least middle-class jobs. Not anymore! I work in higher education and see graduates working minimum-wage jobs stacking shelves at Wal*Mart several years after graduation. It's really sad...especially while CEO's are making so much. Downright criminal when we consider that productivity has increased continuously, while worker's wages have not. They're producing more wealth for their companies, but are not receiving the fruits of that extra production. If workers produce more value for their company, they should recieve more of the fruit as well...it's not happening anymore.
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