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Old 06-17-2011, 08:58 AM
 
Location: San Diego California
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THE TRUTH ABOUT THE ECONOMY IN 2 MINUTES | PRAGMATIC CAPITALISM

While I am far from a big fan of Reich, I have to admit he is on target with this one.
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Old 06-17-2011, 02:26 PM
 
Location: Central Texas
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One chart he somehow managed to forget -that government spending now stands at about 40% of GDP. How'd that happen if all the political power shifted to the rich? How did public employee unions get so powerful? He seems to have forgotten too that so many Americans have lost control of their own finances. They borrowed too much to buy that house. They had to have iPhones, BMWs, and fast food.

So no - I do not agree he is "right on."
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Old 06-17-2011, 04:42 PM
 
Location: Backwoods of Maine
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Quote:
Originally Posted by hoffdano View Post
He seems to have forgotten too that so many Americans have lost control of their own finances. They borrowed too much to buy that house. They had to have iPhones, BMWs, and fast food.
It wasn't that they "had to have" them...rather, they were encouraged to buy them. Cheap credit, pervasive advertising, peer pressure from similarly-encouraged neighbors, all set the stage for the biggest credit boom in recorded history. The bankers had a swell time, along with Wall Street and Madison Avenue. Everybody in this chain of 'encouragement' made lots of money.

With a paper fiat currency, if no one borrows, there is no prosperity. No matter how foolish Boobus Americanus was, you gotta admit, we had one heluva run there! Now...are we all ready to pay for our sins?
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Old 06-17-2011, 04:44 PM
 
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I'll wrap it up in 1 second.

It sux
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Old 06-17-2011, 05:30 PM
 
28,773 posts, read 31,447,458 times
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Originally Posted by jimhcom View Post
THE TRUTH ABOUT THE ECONOMY IN 2 MINUTES | PRAGMATIC CAPITALISM

While I am far from a big fan of Reich, I have to admit he is on target with this one.
Reich paints with too broad a brush. Classroom size now is lower than it was in 1980, but the kids aren't learning that much more. Health care costs have exploded since 1980, but Americans are far from the healthiest people on the planet.

One of the biggest things eating into middle class wages over the last 30 years is health care costs that go up at double the rate of inflation. Education is in a similar boat. This might be ok if we had top notch health care and education, but we don't.

The other thing Reich & other liberals never mention is that the out of wedlock birth rate has skyrocketed since 1980. Having kids out of wedlock is one of the biggest barriers to ever entering the middle class. The rich tend to get married and stay married. The poor have kids out of wedlock. We can thank liberals and their sexual revolution for that.
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Old 06-17-2011, 06:01 PM
 
Location: The Triad (NC)
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Quote:
Originally Posted by hoffdano View Post
One chart he somehow managed to forget -that government spending now stands at about 40% of GDP. How'd that happen...
well, when you slash the numerator and keep the denominator constant...

Quote:
...if all the political power shifted to the rich?
even the rich still want the lights to come on and all the other core services to work. Despite all the whine to the contrary, that number (represented by the "40%" above) has been pared down about as far as it can go without creating even greater problems. The rich know this.

Quote:
How did public employee unions get so powerful?
They aren't so powerful. They just seem that way compared to the dearth of private sector unions to compare them to.

hth
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Old 06-17-2011, 06:08 PM
 
Location: Near a river
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Originally Posted by mysticaltyger View Post
The other thing Reich & other liberals never mention is that the out of wedlock birth rate has skyrocketed since 1980. Having kids out of wedlock is one of the biggest barriers to ever entering the middle class. The rich tend to get married and stay married. The poor have kids out of wedlock. We can thank liberals and their sexual revolution for that.
Lots and lots of women who are not "poor" have children "out of wedlock." They simply don't want to, or can't for some reason, be legally married. Many single women in the professions whose bio clock is running down have a relationship to have a child and that's it, they dump the guy and hire a nanny. I personally know a female judge and a doctor who have done this--seems perfectly acceptable at a certain income, right? I think you're thinking of stereotypical women of a certain class who have always done this, but it's not just them across the board.
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Old 06-17-2011, 06:28 PM
 
Location: The Triad (NC)
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Quote:
Originally Posted by mysticaltyger View Post
The other thing Reich & other liberals never mention is that the out of wedlock birth rate has skyrocketed since 1980.
The poor have kids... we can thank liberals and their sexual revolution for that.
NO. We can thank the self righteous religious conservatives for reductions in sex education funding, cuts in contraception programs, tooth and nail fights over every dollar planned parenthood and other NGO's could use to make up for those things, absurd laws to make even privately paid for abortions onerous to receive as early as possible if at all... and of course cuts in federal funding for safe and legal abortions that should be the right of those same poor people having those kids... which we instead are then supporting for the next 18-50 years.

THAT is what you can thank.

Last edited by MrRational; 06-17-2011 at 07:10 PM..
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Old 06-17-2011, 06:41 PM
 
5,410 posts, read 10,358,253 times
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Originally Posted by MrRational View Post
. . . . has been pared down about as far as it can go without creating even greater problems. The rich know this.
Oh Yeah.

Get that game started and the top end has a LOT more to lose.

But didn't you know . . . the bailouts and lifeboats were just suppose to be for the bankers?
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Old 06-17-2011, 11:54 PM
 
Location: Brawndo-Thirst-Mutilator-Nation
18,752 posts, read 19,098,030 times
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Better quality of life would come for many if the govenment would quit inflating bubbles all the time.

Housing prices would come down to reasonable levels if the government would unwind fan/fred and stop a lot of their other monkeying.

Whats with all of this cheap money, the USA needs another Bubble!!!!!!!!!!!!
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