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Detailed text transcripts for TV channel - MSNBC - 20110804:22:24:00

Jared bernstein pointed out is 70% of american economic activity, can be driven if handful of people have plan to spend. they have ignored the fact that economics is as much psychology and art as it is hard science. they haven t gotten out into the world to discover what anybody going into the field discover res. what essentially has happen said that for a quarter century or so we have a series of fantasies. we had the tech bubble in 90s. housing bubble the next decade and workers an consumers were somehow separate groups of people. but peter, i don t think congress understood that. melissa, martin luther king, jr. said many years ago, the paralysis of analysis and i think that s what has been part of the problem with a lot of our economists. they are so busy analyzing that they are not understanding people are hurting and it is not hitting the ground, melissa. i want to be a little bit careful about beating up on the ....

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