I thought it was interesting what he had to say about the spending by wealthy people. They aren’t spending on a grand scale anymore because it seems unseemly - and I’m sure they don’t want to be critisized. I noticed it at the Alfred Smith dinner when Obama made some remark about all the fancy food, and big party while people were struggling, insinuating that it was unseemly. I instantly thought of all the hotel staff, and fishermen, and pastry chefs, and grocers and dry cleaners, and the taxes via the services provided by the hotel, etc - all the income generated because some rich people decided to throw a benefit. I think those “little people” were very grateful. I would think that people would realize that it is GOOD for the rich to spend money, and lots of it. Populism spreads the opposite message: Rich people spending money is a travesty that must be punished with higher taxes. The rich will stop spending their money in part to avoid the critisism of appearing “unseemly” during a recession (Diller’s message)- the exact opposite of what would be good for the economy.

As a fellow Michiganian, I agree things are depressingly bleak here. i know a couple friends who have recently lost their jobs. I’m talking middle-aged people with no other prospects in sight. I honestly don’t know what they’ll do, other than unemployment, for now.

And for those who still have jobs here in Michigan there have been hours and pay cuts, too. And that proverbial “sword of Damocles” is hanging over everyone’s head as to whether there will even BE jobs after Christmas!