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The debt bubble would collapse ,and we would regain traction when we finally got the books in balance.
the longer we inflate the debt bubble, the worse the "pop" will be at the end.
Not nonsense, but you aren't wrong either. We need a bit of both. We need the middle class to have more income (which does stimulate the economy) and we need the debt bubble to be deflated. As long as all the income goes to the top 1% we aren't going to accomplish that.
There will be a hundred or so American families living in 150 room palaces filled with sumptuous art works, antiquities, vast wine cellars, opulent furnishings - maintained and staffed by dozens of servants.
Jobs for native-born Americans are becoming scarcer. Wages are being forced down. 70% of Americans are living paycheck-to-paycheck; the fact that so many have nice cars, premium cable, live in a house, etc., is a facade, an illusion, as so many of them are drowning in debt. The young adults are "hiding out" in the educational system, praying that the economy will improve by the time they get their 2nd Master. Do you really think we can keep this up for another 20 years? The party will come to an end at some point.
The scarcity has nothing to do with where the worker is born. Within the first sentence of your thread you effectively nullified what you were saying by injecting such a ridiculous bit of nonsense.
While true, it again has nothing to do with where the worker is born, so until you remedy that error, your comments will still lack the necessary credibility.
Uh; with the illegal aliens being allowed to stay in the US; their kind are def hurting a LOT of American people. MOST illegals ain't doing farm work; those crooks are doing construction and so on.
Jobs for native-born Americans are becoming scarcer. Wages are being forced down. 70% of Americans are living paycheck-to-paycheck; the fact that so many have nice cars, premium cable, live in a house, etc., is a facade, an illusion, as so many of them are drowning in debt. The young adults are "hiding out" in the educational system, praying that the economy will improve by the time they get their 2nd Master. Do you really think we can keep this up for another 20 years? The party will come to an end at some point.
I had an auntie who owned her home, fell into hard times and lost the homes due to unpaid taxes. Hence....YOU NEVER OWN YOUR HOME!!!
The majority of my Taxes on my home are School Taxes ...... we all need to support the public education system .... don't we? Is your Auntie exempt from School Taxes?
The debt bubble would collapse ,and we would regain traction when we finally got the books in balance.
the longer we inflate the debt bubble, the worse the "pop" will be at the end.
The government is 18 trillion in debt and that does not include unfunded liabilities. That debt is transferred to workers, who are already up to their ears in consumer debt. College students are up to their ears in debt and thus that is already a claim on much of their future earnings. That is what debt is......its a claim on FUTURE earnings. There is so much debt that much of our future earnings is claimed for if we actually try to reconcile that debt, which means there would be little left for future spending, which means that there would be much less need for future production of goods and services and hence less employees. Also add in automation and its stead replacement of the labor force.....and its hard to see where future employment is going to come from.
Once things collapse and we get back into balance, what that would look like is a country whose standard of living has dropped by at least a third. We are maintaining an artificially high standard of living via debt.
Everyone seems to want to ignore the reality.....America is bringing in more money, being more productive, etc year after year.
And yet here everyone is going on about how we are doomed.....wheres the money going? Ohhh right.....the top 1% are sucking it up like a sponge.
Auntie didn't lose her home because of the Evil 1% -- she lost it because she didn't/or couldn't pay her Government imposed Taxes. Taxes for Schools, local infrastructure and local employees that work for the Local Government. The (Evil) 1% gets their money mostly from Investing in our Economy and from Saving over a lifetime. Government doesn't create or earn a single nickel - that money comes from the Tax Payers.
You ask a very good question, one I ask often - Exactly WHERE is the money going? America is not "bringing in more money" - the IRS is collecting record amounts of money from Tax Payers.
What are they doing with it? And why is nobody much interested in finding out or doing anything about it?
Non-sense; its just like the 70's recession the dying part of the economy is dead. others are spring up across the nation. Go to Europe if you want to see what no growth and 50% young people unemployment is like. The illegals are said by to be necessary because Americans will not do jobs they risk their lives coming for. So perhaps its more than jobs with American workers now.
And living below your means. The problem is some want to live like they are rich when they aren't. Others want to live like the middle class and rich but don't want to put forth the same effort.
Exactly. Bill Gates was seen driving a Ford Focus to work. Can our middle class tolerate that?
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