I am not necessarily saying that mainstream economists were intentionally wrong, or that they lied because it led to promotions or pleased their Wall Street, Fed or academic bosses.
Real household income in America has flat-lined, for instance, which means many middle-class families are barely keeping up with inflation. The exploding federal deficit hamstrings the government's ability to help.
One of the City's leading figures has suggested that inequality created by bankers' huge salaries is a price worth paying for greater prosperity.
PhD economist Faber states: How [am I] so sure about this final collapse?
This is quintessential Moore, with a clear-cut agenda: Capitalism has superseded democracy, encouraged corruption and greed, and failed our nation. Political bigwigs and wealthy executives may love it, but it's not working for the majority of Americans.
Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.
Down at the Chinese outlet store in Albany known as Wal-Mart, Chinese tires have so successfully undercut U.S.-made tires that the Cooper Tire factory in that south Georgia town had to shut down. Twenty-one hundred Georgians lost their jobs.
The implications of prolonged high unemployment—should it materialize—haven't been fully explored. People who don't have jobs don't acquire skills. Young college graduates are already having trouble getting work. High unemployment could depress wage gains for years.
Our present non-democratic combination of elite (plutocratic) capitalism is great for those at the top, while the rest of the heap get what's left. Lately, it has been less and less.
We certainly live in confusing times. Years ago there was a clear demarcation between capitalism and communism. Today, this difference is getting blurred. Communist China has emerged as a country with the most florid capitalistic system.
With home and auto sales up, many are predicting a recovery for the troubled U.S. economy. Peter Morici puts a damper on any celebration, noting that despite the new programs under the Obama Administration, many underlying problems remain.
The Russians said the United States would indeed self destruct from with in. It started in 1989 when NAFTA was first introduced pushed hard by George Herbert Walker Bush it was completed with the minor matter of Environmental hazards and impact to Mexico.
I am not necessarily saying that mainstream economists were intentionally wrong, or that they lied because it led to promotions or pleased their Wall Street, Fed or academic bosses.
Real household income in America has flat-lined, for instance, which means many middle-class families are barely keeping up with inflation. The exploding federal deficit hamstrings the government's ability to help.
One of the City's leading figures has suggested that inequality created by bankers' huge salaries is a price worth paying for greater prosperity.
PhD economist Faber states: How [am I] so sure about this final collapse?
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