America’s Descent into Poverty

Discussion in 'Economy' started by hvactec, Sep 3, 2012.

  1. hvactec
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    hvactec VIP Member

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    By Paul Craig Roberts on August 28, 2012 at 5:57pm
    The United States has collapsed economically, socially, politically, legally, constitutionally, and environmentally. The country that exists today is not even a shell of the country into which I was born. In this article I will deal with America’s economic collapse. In subsequent articles, i will deal with other aspects of American collapse.

    Economically, America has descended into poverty. As Peter Edelman says, “Low-wage work is pandemic.” Today in “freedom and democracy” America, “the world’s only superpower,” one fourth of the work force is employed in jobs that pay less than $22,000, the poverty line for a family of four. Some of these lowly-paid persons are young college graduates, burdened by education loans, who share housing with three or four others in the same desperate situation. Other of these persons are single parents only one medical problem or lost job away from homelessness.

    Others might be Ph.D.s teaching at universities as adjunct professors for $10,000 per year or less. Education is still touted as the way out of poverty, but increasingly is a path into poverty or into enlistments into the military services.

    Edelman, who studies these issues, reports that 20.5 million Americans have incomes less than $9,500 per year, which is half of the poverty definition for a family of three.

    read more America
     
  2. uscitizen
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    uscitizen Senior Member

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    The inevitable outcome of globalization and "free" trade.
     
  3. Nova78
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    Nova78 Silver Member

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    Yea ,and Obama wants 4 more years to finish his wrath of terror......


    $article-1388125-0C1F02B600000578-848_634x546.jpg

    $job-fair-line_gi_top.jpg

    $10_1o025_gasparinoc--300x300.jpg
     
  4. uscitizen
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    uscitizen Senior Member

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    Either way we get 4 more years of continued Bush policies.
     
  5. whitehall
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    whitehall Platinum Member

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    Roberts was once a pretty level headed guy who worked in the Reagan administration. Somewhere along the line he developed a crazy hatred hatred for President George W. Bush that may have caused him to crack up. Now he blames Jews for all the problems in the world and recently he claimed that a neoconservative conspiracy was trying to force the US into a nuclear war with modern Russia. The guy is off his rocker.
     
  6. Rshermr
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    Rshermr VIP Member

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    Ah, you mean to undo the great republican recession of 2008. How short your memory is, when all you want to do is post conservative dogma. Eh, Nova78. Must be easy when you need not have any knowledge, except how to post dogma from right wing web sites.
     
  7. Rshermr
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    Rshermr VIP Member

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    He no longer supports the repub party blindly, as he once did. He has a lot of very rational opinions, but repub con tools are not going to like him. Because he thinks for himself.
     
  8. Nova78
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    Nova78 Silver Member

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    Womb to tomb entitlements is no way to balance the books.:eusa_hand:
     
  9. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    well then we should make trade illegal so everyone has to make everything themselves??

    A liberal will be way to slow to understand that more with whom you trade the richer you get!!


    Free trade has not worked so well for America lately because rather than become competitive Americans have turned to liberal welfare entitlements.
     
  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    The rich gettin' richer...
    :eusa_eh:
    World's 100 richest people got $241 billion richer in 2012
    January 3, 2013, Their aggregate net worth climbs to $1.9 trillion, according to the Bloomberg Billionaires Index, a daily ranking of the world's 100 wealthiest individuals.
     

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