posted on Jun, 17 2011 @ 02:07 PM
reply to post by Vitchilo
Ok...This guy either intentionally or through Keynesian sun glasses ignored some very important issues.
1st. Why does he think that wages adjusted for inflation staying flat is a cause of class warfare between the rich and everyone else?
Answer: He either doesn't know, or doesn't care to admit that money printing is the cause of all of this and has been for some time. He either doesn't
know or doesn't care that the American people have borrowed and spent that money tirelessly for almost 20 years. This eventually lead to a big crash
in 2008 as consumer credit hit a wall and they COULDN'T continue to draw upon credit aggregates to supplement their income. Have we learned nothing?
2nd. Services aren't going away because there isn't enough tax money. They're going away because governments in all 50 states relied heavily on
municipal bonds and ambitious, yet superbly costly projects, wages, and unsustainable benefits far beyond that of the private sector...Which is the
bread and butter... that have rendered many states and locales BROKE. They didn't bother planning ahead. Evidence in this is layoffs of public sector
workers, furloughs, and benefit adjustments at state and local levels and municipal bonds. So when consumer credit hit the wall in 2007/2008 the basis
of their promise to pay back those obligations also hit a wall. And since they didn't bother to plan ahead for bad times governments began running
The funny thing about fluid credit is that it has the appearance of making you think you're richer than you are.
Again, have we learned nothing?
edit on 17-6-2011 by projectvxn because: (no reason given)