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Location: In a Galaxy far, far away called Germany
4,300 posts, read 4,407,894 times
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I've learned to live with less. Instead of 8 bass guitars, I now only have two. Until I need a fretless and then it will be three . . . and if I find a good deal on a 3 Tone Burst Fender Deluxe Jaguar bass, then it will be four . . . and if I - dang this is hard.
That article is depressing though. It basically points out in a concrete fashion that because of globalization and technology the fate of the common citizen and the corporations, stock market and the well to do are almost completely divorced. The very rich and their corporations, stock market and managerial class will continue to do great while everyone else's standard of living will continue to gradually erode.
Until we reach some sort of pressure point or breaking point between the haves and the have nots or when the standard of living for average Joe will decline in a more rapid pace than has been taking place over the last few decades.
It would work if record high government debt and promises of future taxation due to programs such as ObamaCare didn't disincentivize growth in the private sector...You can't increase the threat of future taxes in a period of economic recovery. What do you expect companies to do?
I've learned to live with less. Instead of 8 bass guitars, I now only have two. Until I need a fretless and then it will be three . . . and if I find a good deal on a 3 Tone Burst Fender Deluxe Jaguar bass, then it will be four . . . and if I - dang this is hard.
Now that's crazy. Who can live with only two bass guitars and NO fretless? There needs to be some bass guitar public assistance so everyone can have at least four.
The U S is up against a wall, one of the reasons companies are doing so well is the 1T dollars in extra spending to keep us out of a depression. Start taking away that money with austerity and of course some corporations profits would drop. The fundamentals of our economy have been out of whack for sometime but should we keeping propping up a dead economy with borrowed money?
Trickle down is working, the gvt borrows money and pays out UE beni's, food program,SS, etc etc. And then that money ends up being corporate profits who set records with a slim down work force. What is the answer to our economic situation?, I am not sure.
It would work if record high government debt and promises of future taxation due to programs such as ObamaCare didn't disincentivize growth in the private sector...You can't increase the threat of future taxes in a period of economic recovery. What do you expect companies to do?
Based on the numbers for this year your rhetoric is way off. It looks like a lot of capital spending is starting to occur.
This economy, with the no growth for the many and huge income for the few, will continue until the many spend all their income on necessities and no longer have any left over to buy, even on credit, any of the manufactured goods available in the market. Eventually even Wall Mart will be too expensive and people will keep older consumer goods instead of buying new. Three years of that, along with a stagnant housing market, will crash the economy and the financial system that is dependent on endless selling and growth. A consumer economy dies when the consumer runs out of money and credit at the same time.
I guess we have about another decade left before a complete restructuring will be required to recover from a complete collapse. We will then be cursed by living in Interesting Times.
Based on the numbers for this year your rhetoric is way off. It looks like a lot of capital spending is starting to occur.
Growth is much slower than it would be without the future tax promises. Capital spending should have started to occur a few months after the crisis. Why on earth do you think it has taken this long?
An education on macroeconomic theory is not 'rhetoric'
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It ain't me either
