The truth about the American economy

[pawnshop-guitars]

Very interesting video by Robert Reich:
http://www.youtube.com/watch?v=JTzMqm2TwgE&feature=player_embedded

p.s. Yes Maxi, I did get this from Gladstone

[Max_Power]

Yes, we all know the economy's fucked. And it's not just the Americans

[Adriana Galore]

Thanks for posting this one pawn. I am going to "terrorize" my friends (on FB) with this one.  

You guys did watch Charles Ferguson's "The Inside Job"? In the documentary it's said 60% goes to wealthy ones. Everyone should watch that documentary. It's since months free online. Just use google.

[Ice Blue]

Its unbelievable Jeff!!

[Crazy Child]

Very interesting video by Robert Reich:
http://www.youtube.com/watch?v=JTzMqm2TwgE&feature=player_embedded

p.s. Yes Maxi, I did get this from Gladstone

All of that is ABSOLUTELY TRUE! The problem is that no one here in the States wants to hear it, esp. Obama, Congress, and, of course Big Brother, and Big Business! Banks don't want to lend, we are paying more for everything and getting less pay, the rich are taxed less comparatively, etc. It is a huge mess!
Funny, I was discussing this the other day with someone, and we both agreed how much inflation has increased compared to wages. You hear old timers  from the Depression and WW II era saying " Work hard, then you can buy a home, car, etc". REALLY? Yes, you were making 2 grand a year, but new cars cost less than a grand. How does this compute today?
I have a list in front of me of costs in 1970:
New Home $23, 400.00
Average Income $9, 357.00 yr.
New Car $ 3, 979.00 :'(
Gas .36 Gallon!!!!!!!!!!!!!!!  
etc. You get the idea.
What is the average income in the US now, 41 years later? About $36,000.00 year! 
New Home, varies depending on the area and home size, but a quarter mil would be on the low side! If it is brand new, add another 150 thousand minimum, so $350,000.00! 
New car, again depends on the make and model, but average is about $30,000.00! 
Gas $ 3.70 gallon(at this writing).
So you see WHY no one can make it! I am no mathematician, but everything has gone up tenfold, but income has only quadrupled. THERE is the problem, folks!
I want to know WHO thinks they are going to solve this? companies are not going to pay more, and the cost for things is not going to go down....What a mess! AND THIS is SUPPOSED to be the big American DREAM! PULEEZE!

I am not saying all of this to bitch and complain. I am merely pointing out facts to those who may not be aware of how we are being sodomized by businesses, Congress, and our country...

Believe it or don't, check it out for yourself....
 Just sayin'....

Is it any better in Europe?

[pawnshop-guitars]

No, I would say the situation in Europe is just as bad (look at the Eurozone problems). Another problem Reichs doesn't go into is that people are living longer, meaning the population is increasingly made up of pensioners, who do not, economically speaking, contribute anything, and are in fact taking away from the state. So the workers are having to prop up the ever-increasing numbers of old people. This all adds to the problem - even if we had the same amount of money as before, we now need to make it go further.

[Crazy Child]

No, I would say the situation in Europe is just as bad (look at the Eurozone problems). Another problem Reichs doesn't go into is that people are living longer, meaning the population is increasingly made up of pensioners, who do not, economically speaking, contribute anything, and are in fact taking away from the state. So the workers are having to prop up the ever-increasing numbers of old people. This all adds to the problem - even if we had the same amount of money as before, we now need to make it go further.

Very valid points to add to the problems...years ago, when SS started in  the US, the life expectancy was less than the retirement age. Now people are living 10, 20+ years after retirement, not a factor that ws figured in when SS was created. Furthermore, there are LESS people in the workforce to cover all the people now on SS due to low birth rates.
It's a a giant mess. I was hoping Europe was better, as I have just about had it with the BS here. Perhaps a tropical island in the South Pacific might get me away from this...Hey, Gauguin did it (he got syphillis though, but they do have a remedy for that one now! ). He left France for Tahiti and French Polynesia and never looked back...