Whats the problem with the US Economy

[CrusaderFrank]

The problem with the American economy is the 1%.

Over the last 30 years, the economic philosophy has been to enrich these folks with money and tax incentives in the hopes that they would trickle the wealth down to the rest of us.

Never happened.

Unfortunately, we still live in Reagan and Bush's America when it comes to economic philosophy. The real "takers" are the multi-nationals and the super wealthy. The producers and the drivers of the economy work to send everything up the ladder wholesale, and what they've gotten in return is higher health care costs, less job security, broken contracts, broken unions, stagnant wages, no benefits, and job outsourcing.

All the rules have been written by the people that these folks own in Washington, and they continue to benefit the most from the system that exists today. The average American will either tell you things are about the same or just a little bit better or worse than 4 years ago. However, there is not one single 1%'er who could be justified in saying the same thing. Not Romney, not Trump, not the estate of Steve Jobs, not the Facebook guy, not Sheldon Adelson.

Those people had 4 amazing, record-breaking years, thanks in part to "rules and regulations" that have been written to specifically benefit them.

It all goes back to the Nationalist Reagan Socialist economic philosophy that says we all slave away in order to make the top guy rich and then and only then will he rain cash upon us all. What a fucking lunatic way to run a country, but that's where we're at and hopefully that'll start changing as the fiscal cliff approaches.

Reagan is not President, neither is Bush

Are you saying we have too many rich people in this county, or that we have rich people at all?

10 Countries With The Most Billionaires

Check out number one.

You and Obama are working on correcting that, right?

 

[LibertyLemming]

Success is disgusting.

 

[TakeAStepBack]

We should have the state confiscate all their assets and money and give it to the poor.

 

[LibertyLemming]

Word bro

 

[TakeAStepBack]

Proletarians Unite!!

 

[Sallow]

Reagan is not President, neither is Bush

Are you saying we have too many rich people in this county, or that we have rich people at all?

10 Countries With The Most Billionaires

Check out number one.

You and Obama are working on correcting that, right?

Can't "correct" it over night.

But heck, CF, you think it's a good thing that there are people in this country with more money then they, their kids and their kid's kids can spend in multiple life times while we still have poverty in this country?

Makes no sense.

Even less so given that most of these folks are making their loot with massive government support.

You folks haven't backed away from Bachmann, who while ranting against pork, took FAT GOVERNMENT CHECKS, to help her farm.

And she's small potatoes.

Bachmann Has Income from Subsidized Farm - Bloomberg

 

[LibertyLemming]

Down with wage labor!

 

[TakeAStepBack]

Yeah, how can people make their money with other people in poverty?
It should be outlawed to make more than 20K a year until all poverty is cured.

 

[LibertyLemming]

Government should just take control of all industries and regulate all profits. Provide for each person. From each according to his ability, to each according to his needs.

 

[TakeAStepBack]

Government should just take control of all industries and regulate all profits. Provide for each person. From each according to his ability, to each according to his needs.

Amen! Proletariat Unite!

 

[Sallow]

Down with wage labor!

Another reason you guys lost.

You folks hate labor.

But love dynasties.

 

[TakeAStepBack]

 

[CrusaderFrank]

10 Countries With The Most Billionaires

Check out number one.

You and Obama are working on correcting that, right?

Can't "correct" it over night.

But heck, CF, you think it's a good thing that there are people in this country with more money then they, their kids and their kid's kids can spend in multiple life times while we still have poverty in this country?

Makes no sense.

Even less so given that most of these folks are making their loot with massive government support.

You folks haven't backed away from Bachmann, who while ranting against pork, took FAT GOVERNMENT CHECKS, to help her farm.

And she's small potatoes.

Bachmann Has Income from Subsidized Farm - Bloomberg

Yes, I believe its a good thing that people can come here and become ridiculously wealthy.

If you looked at the Forbes 400, there is almost no similarity with the people on it today as the people on it even 20 years ago.

People with Obamaphones aren't the ones hiring.

 

[LibertyLemming]

lol @ everyone voting for successful people

 

[Kimura]

The US economy has significant structural problems. Too much of an emphasis was put on the financial system - the FIRE economy. The US is turning into a post-industrial wasteland. It started under Carter, accelerated under Reagan and Bush, then went into warp speed under Clinton.

The banks were given trillions - around 28 trillion in total bailouts and the Treasury assuming liabilities. The large Wall Street banks are technically insolvent (zombie banks) and they continue to borrow money at 0% from the discount window. According to a report issued by the Dallas FED, the top five Wall Street banks control 50% of US banking assets - domestically.

 

[EdwardBaiamonte]

According to a report issued by the Dallas FED, the top five Wall Street banks control 50% of US GDP.

utter idiotic gibberish which is why it did not occur to you to provide evidence.

 

[Kimura]

According to a report issued by the Dallas FED, the top five Wall Street banks control 50% of US GDP.

utter idiotic gibberish which is why it did not occur to you to provide evidence.

I can't posts URLs until I've made fifteen posts.

Google 'Choosing the Road to Prosperity – Why We Must End Too Big to Fail—Now' + 'Dallas Fed'

Its only around 40 pages.

*edit to add. It's US domestic banking assets, not GDP, my apologies. Long day and not enough caffeine.

 

[EdwardBaiamonte]

According to a report issued by the Dallas FED, the top five Wall Street banks control 50% of US GDP.

utter idiotic gibberish which is why it did not occur to you to provide evidence.

I can't posts URLs until I've made fifteen posts.

Google 'Choosing the Road to Prosperity – Why We Must End Too Big to Fail—Now' + 'Dallas Fed'

Its only around 40 pages.

so in your own words, dear. We can all post millions of URL's. This is a debate site not a post URL site. Get it??

 

[AquaAthena]

Pick one. Dazzle us with your insight

I'm going to say, infatuation with Obama, is still the main reason.

The problem with the economy are the Obama policies and increasing entitlement spending, being driven up with deliberation.

But they luvd `em!

Barack Obama ushered in America’s first large-scale experiment in personality-cult politics. The experiment continues apace. Obama got reelected because he enjoys a degree of personal popularity disconnected from his record. No modern president has ever been returned to office with employment figures and right-track-wrong-track numbers as poor as those Obama has achieved.

Obama couldn’t run on his record, which proved to be no problem—Americans didn’t vote on his record. According to exit polls, 77 percent of voters said the economy is bad and only 25 percent said they’re better off than they were four years ago. But since six in ten voters claimed the economy as their number one issue, it’s clear this election wasn’t about issues at all.

Democrats Better Start Soul Searching « Commentary Magazine

 

[Kimura]

utter idiotic gibberish which is why it did not occur to you to provide evidence.

I can't posts URLs until I've made fifteen posts.

Google 'Choosing the Road to Prosperity – Why We Must End Too Big to Fail—Now' + 'Dallas Fed'

Its only around 40 pages.

so in your own words, dear. We can all post millions of URL's. This is a debate site not a post URL site. Get it??

You asked for evidence. The Dallas FED report has the statistics relating to US banking concentration and their assets. In 1950, the top 5 banks controlled 17% of US banking assets; by 2010 the number became 52% of US banking assets.