Where is the US economy headed?

@mysteryman,

Of coarse the health care bill will raise taxes. However, health care costs have been rising faster than almost everything else in our economy, and we can't sustain the fact that over 17% of our GDP is now spent on health care. Something needed to be done, and universal health care was the right way to go. I didn't agree with the current health care bill, because it missed out on too many of the necessary cost savings that could have been included.

Our country continues to pay more for health care as more people are uninsured.

If the feds don't increase taxes, our country will go bankrupt from the national debt.

Increased taxes is the necessary evil to take control of escalating health care costs, and to cut the deficit. They are both important to our economy.

1 Reply

@cicerone imposter,

Only those who care will be able to understand this! good luck,
If you like this I have many more to offer!

You may want to skip the first 7 minutes

http://www.youtube.com/watch?v=TZU3wfjtIJY

1 Reply

@reasoning logic,

rl, Dr Wolfe's presentation is excellent! I agree with his thesis, and my "gut" feeling has helped us with our retirement investments from early on in our marriage. I just followed the general rules of investments: 1) diversify, 2) invest in funds where experts manage the investments, 3) re-balance your investments every year, and 4) shift your investments more into bonds as we get older. When the average loss from the stock market was 40% in 2008, we lost less than half of that, and made up all that many times over since then.

I can still travel to my heart's content, and buy my little toys. We are not rich, but comfortable. Compared to the world average, we are rich; we have no worry about losing our home (no mortgage), or having food on the table. According to Dr Wolfe, one out of three families are having problems with their mortgage payments. Our economy is collapsing as we speak, but the conservatives want to give more tax breaks to the rich.

I hope we don't become Greece or Ireland any time soon, but we're headed that way.

1 Reply

@cicerone imposter,

You seem to be one of the lucky ones that were able to profit off of the working class. I was able to also a little bit but I am not proud of it because of the ramifications that it has on society as a whole.

I have also been exploited myself so I do not think that I made out very well.

I would not be suprised if they take back what they have labored for by force in the future and that means that our kids will be involved.

1 Reply

@reasoning logic,

Here is another video for you all to enjoy, Happy watching!

http://www.youtube.com/watch?v=nzk6AierhoI

1 Reply

@reasoning logic,

Is there any doubt about some of the leftists on this forum being a bunch of Marxists? Conservatives, pay attention to this video posted by "reasoninglogic." Interesting oxymoron for a name by the way! This Marxist loving claptrap is what lefties think is enlightening and brilliant. By the way, reasoning logic, how can you hope anyone can enjoy that crap, unless they are almost Karl Marx himself, then maybe?

In case anyone doubts what I say, here are the comments below the video:

"Devastating analysis. Make sure you watch this right through to the end. Marx makes even more sense today than 100 years ago.
bmsnz 5 days ago Socialismisdemocracy
1 week ago I am a big fan of Wolff! He tells the truth.
Socialismisdemocracy 1 week ago mattyelle1
1 month ago This has helped me understand the crisis even better. The middle-class is in the transition of become poor...just like feudalism.
The reason why we keep going down this route is because of international bankers (mostly zion-ist families), natural resources cartels (Rockefeller), and others who participate in secret societies. They plan collapse of economies, make $, finance both sides of a war, then make even more $. Governments fail, they take control.
mattyelle1 1 month ago MrSalamander7
1 month ago ******* brilliant lecture. Wolff is a great representative of Marxist Theory and Left Wing economics in general. We need more people like him."

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@okie,

okie, You missed the important message about government spending and borrowing. Our government owes China $1 trillion dollars, and at 4% interest, we pay them $60 billion in interest every year - that we don't have.

Try to wrap that in your brain if you can.

1 Reply

Now to something important that we could actually do to reduce the deficit. Get rid of NPR, as has been proposed.
http://www.foxnews.com/politics/2010/11/13/taxpayers-provide-percent-nprs-funding-analyst-says/

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@cicerone imposter,

cicerone imposter wrote:

okie, You missed the important message about government spending and borrowing.

The only thing I heard during the video was how Marx was a genius, and claptrap about class, and how free markets have failed. It frankly made me sick so that I wanted to barf on the computer. It was repulsive. How can you sit there and extoll the virtues of a video that brags on an idealogy that is responsible for hundreds of millions of human deaths and untolled suffering? How can you, ci?

1 Reply

@okie,

You heard only part of his speech. What he said was that the entrepreneurs of today in Silicon Valley are forming new companies as advocated by Marx. They don't like working for companies that restricts their ideas, and are being controlled by a small number of stock holders and the board of directors - all while they work more hours without the equality of pay. Wages have been stagnant since 1970. The only people who gained were the employers and stock holders - all while production increased.

You are deaf to the realities of facts. That's a disease you must live with.

1 Reply

@cicerone imposter,

You must have clicked on a different link? I clicked on the one reasoning logic provided, which is the post I responded to. Here is the title of it:
"Richard Wolff Delivers Hamsphire's 3rd Annual Eric Schocket Lecture"
And the link again.

1 Reply

@okie,

Let me put it this way; you don't know who Karl Marx is or what his thesis is, because your negative inference doesn't acknowledge how most of the so-called communist countries now operate.

Quote:

Karl Marx
First published Tue Aug 26, 2003; substantive revision Mon Jun 14, 2010

Karl Marx (1818–1883) is best known not as a philosopher but as a revolutionary communist, whose works inspired the foundation of many communist regimes in the twentieth century. It is hard to think of many who have had as much influence in the creation of the modern world. Trained as a philosopher, Marx turned away from philosophy in his mid-twenties, towards economics and politics. However, in addition to his overtly philosophical early work, his later writings have many points of contact with contemporary philosophical debates, especially in the philosophy of history and the social sciences, and in moral and political philosophy. Historical materialism — Marx's theory of history — is centered around the idea that forms of society rise and fall as they further and then impede the development of human productive power. Marx sees the historical process as proceeding through a necessary series of modes of production, characterized by class struggle, culminating in communism. Marx's economic analysis of capitalism is based on his version of the labour theory of value, and includes the analysis of capitalist profit as the extraction of surplus value from the exploited proletariat. The analysis of history and economics come together in Marx's prediction of the inevitable economic breakdown of capitalism, to be replaced by communism. However Marx refused to speculate in detail about the nature of communism, arguing that it would arise through historical processes, and was not the realisation of a pre-determined moral ideal.

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This week, one of David Letterman's Top Ten selections had to do with responses to the election (I was falling asleep, so I am not certain). One of the responses was, "Why haven't the Republicans fixed the economy yet?"

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@okie,

Quote:

I believe the role of government is to protect life, liberty, and property

Funny, aren't conservatives supposed to believe that government has no role?

Protecting life and liberty is vague indeed.

N.B: He believes . . . he doesn't know.

Quote:

I believe the rich pays far more than they should need to pay

I would suspect that okie is not in the top quintile, the only segment of American "workers," and I use the last word delicately because most in that uppermost segment do not work, but why he defends them is beyond me. Perhaps, okie suffers from Stockholm syndrome and has begun to identify with the robbers who hold the entire nation captive.

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@okie,

You must hate all those people who earn so little. What is the problem? Are they outside of the Calvinistic system to which you subscribe?

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@plainoldme,

POM, you are a very confused individual.

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@okie,

I watched the first half last night before seeing this post. I kept thinking about you, okie, and how you must be reacting. I got to the 57 min mark before I had to leave. I haven't decided if I'm going to spend another hour watching the rest of it. I may, if I get bored, just for the comedic value.

I thought it was wildly slanted which isn't surprising given the sponsor of the talk. It was very much "us vs them" and the poor working stiff is "us" and everyone who has run a business since 1970 is "them". Pretty funny stuff in absolutist terms.

Has anyone else noticed that it's always the woman's fault? If only she hadn't joined the workforce.... the family would still be functional, we wouldn't have divorces, we wouldn't have massive unemployment, etc. If only Pandora hadn't opened that box. If only Eve hadn't eaten that apple.

He made some valid points but, unfortunately, he made sweeping generalizations as if they were specifics and presented them with a sneer of self-aggrandizement that made me kind of ill too, okie.

1 Reply

@JPB,

I have another video that is in layman's terms that I think that you all may enjoy

http://www.youtube.com/watch?v=EewGMBOB4Gg

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@plainoldme,

That's because okie has his "own" interpretation of what that means.

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@plainoldme,

Quote:

I would suspect that okie is not in the top quintile, the only segment of American "workers," and I use the last word delicately because most in that uppermost segment do not work

Thats a pretty big assumption, that they dont work.
Can you provide any evidence that they dont work, or is that your bias speaking?

2 Replies

Where is the US economy headed?

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