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So you're a proponent of treating the symptom rather than the disease?
The disease is Corporate America has sold out the American people. Their decisions to stagnate middle class wage grwoth while significantly increasing executive pay, and to send jobs, research and development, and investment dollars overseas in the name of profits clearly indicate that.
Compare that to the situation in Germany where business, labor and government work together to form national economic policy. German exports are booming and German employmnet growth is healthier than it's been in DECADES. I've actuallly heard a German businss executive say "WE WILL NOT EXPORT KEY TECHNICAL AND MANUFACTURING TECHNOLOGIES OUTSIDE THE COUNTRY".
When was the last time you heard an American business executive say that?
If you don't think Corporate America isn't f**KIng the American people you don't realize what is going on or you are simply deluding yourself.
The disease is Corporate America has sold out the American people. Their decions to stagnate middle class wage grwoth while significantly increasing executive pay, and to send jobs, research and development, and investment dollars overseas in the name of profits clearly indicate that.
Compare that to the situation in Germany where business, labor and government work together to form national economic policy. German exports are booming and German employmnet growth is healthier than it's been in DECADES. I've actuallly heard a German businss executive say "WE WILL NOT EXPORT KEY TECHNICAL AND MANUFACTURING TECHNOLGIES OUTSIDE THE COUNTRY".
When was the last time you heard an American business executive say that?
If you don't think Corporate America isn't f**KIng the American people you don't realize what is going on or you are simply deluding yourself.
Put your anger sqarely where it needs to be. on PROGRESSIVES! Bill Clinton turned our economy into a service economy from an industrial economy with his globalism efforts. A middle class can't grow without a manufacturing sector.
That's strange because the Great Depression was a result of the Fed tightening monetary policy and the government cutting spending.
The Fed/Treasury did almost the opposite. But all that money did not circulate; banks used it to cover their reserves and pay down debts from the subprime burst.
The Fed is about to end QE and the governments (city/state/fed) are all talking cuts.
In the end, we have more debt now than in 2008 but we saved the banks (well most of them), bailed out a few corporations and sent money to states to fill their budget gaps.
But did it do anything other than kick that "can of debt" down the road to be dealt with later ?
The disease is Corporate America has sold out the American people. Their decisions to stagnate middle class wage grwoth while significantly increasing executive pay, and to send jobs, research and development, and investment dollars overseas in the name of profits clearly indicate that.
Compare that to the situation in Germany where business, labor and government work together to form national economic policy. German exports are booming and German employmnet growth is healthier than it's been in DECADES. I've actuallly heard a German businss executive say "WE WILL NOT EXPORT KEY TECHNICAL AND MANUFACTURING TECHNOLOGIES OUTSIDE THE COUNTRY".
When was the last time you heard an American business executive say that?
If you don't think Corporate America isn't f**KIng the American people you don't realize what is going on or you are simply deluding yourself.
I'm not arguing that the symptoms aren't bad, but until you cure the disease nothing will ever really change.
It's interesting that economists use GDP to define depressions and recessions, even though GDP is a dubious measure of the health of an economy. For one thing, GDP doesn't consider inflation, so if money is inflated by 4%/yr that's counted as growth. For another thing, GDP counts government deficit spending twice: once directly, and a second time as private investment (buying of government bonds). Hence, borrowing or printing tons of money to spend on wasteful government projects will always make GDP go up. However, it's probably going to worsen the lot in life of the average Joe, since he has to pay higher taxes to pay for government debt from his deflated savings since prices have likely increased faster than his wages from his less-secure job that the company is considering shipping overseas to a country which has a lower cost of living and corporate income tax.
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