Mav"Voters don't have the funds to eat at Mitt
Romney's $900 per plate dinners!"You forgot Obama's
$1000's per plate dinners. But there is a class of voters that
sure can be bought with cell phones and health care paid for by someone else,
the taxpayers.Eric:Debt does contribute to
recession/depression. There was large scale speculative borrowing before both
the great recession and the great depression. People borrowed to invest, in the
stock market (more so for the great depression) and in the housing market (more
so in the great recession). A large percent of those foreclosed on were
speculators. Many were second and third homes. Many more were purchased by
people knowing they were too much for the family budget, but thinking they would
sell in a couple years and pocket a big profit. In the case of the housing
debts, those are federal debts because the congress, with President
Clinton's signature, guaranteed those loans. Grover:"We have an economy based 70% on consumer buying."That is
a sick economy. A 50/50 consumer/production ratio would be healthier.Democrats punish productivity, and they are in charge. The result: Jobless
Recovery.More idle people.
Red: Maybe Margaret Meade would understand your tribal example as germane to
the discussion, but I don't. When 70% of the economy is driven by the
"masses" then it is in everyone's interest to protect their
economic vitality...even the wealthy it is or used to be called the commonweal.
You equate the wealthy with ambition when in fact ambition exists at every
economic level. Similarly envy and greed. History tells us that if the gap
between rich and poor becomes too great or that the middle class disappears,
societal chaos becomes more likely.
@ Grover - there is a big difference between greed and ambition. Ambition makes
the world go around. The fact is that the "poor" in America live better
than any people in the history of civilization- that's indisputable. A good
example would be a primitive tribe of people living a rudimentary lifestyle in
the jungle. There will be very little income disparity between the chief and the
lowest tribe member but neither would have a very high standard of living. Is
that what you would prefer in America? Would it make you feel better? @
Eric - where did you learn Economics? Let me guess- from Paul Krugman. Of course
the national debt is a huge drain on the economy. Of course the massive deficits
and debt are contributing to this feeble recovery. Let me ask you this- would
you buy a home in a city with huge unfunded pension liabilities? Because if you
did you'd be signing up to help pay for them through your property taxes.
So why wouldn't that translate to capital investment at the macro level?
While I liked this letter, it did seem to be discussing two, or perhaps even
three very separate issues. First, it suggested that there's some
relationship between the budget deficit, and the recession in which our economy
finds itself--the widespread joblessness. Those are two very different
problems. There is NO connection between the federal debt and the recession,
except in one sense--the recession caused the debt. But paying off the debt, or
even reducing the deficit will have no positive job creation impact--quite the
contrary. Income disparity is another separate issue, the fact that rich
folks have gotten richer over the past thirty years, while the middle class and
the poor have seen their real dollar incomes diminish. It'd nice to solve
that one too.
Red: The players on the Utah Jazz put fannies in the seats and as such they are
clearly worth what they are being paid. I don't recall the team ever
reporting a loss since the team has been here. The point of the letter is that
we are seeing the disintegration of our economic vitality as a nation at the
same time as the upper 1% are profiting handsomely. We have an economy based 70%
on consumer buying. What happens to everyone when the 70% lose their ability to
drive the engine of GDP? EVERYONE loses.PS. Last I checked, Greed
was also verboten in the Bible. Why is it that one bothers you so little but
coveting sticks in your throat? If you are going to chastise the poor
shouldn't you be evenhanded and do the same for the rich...er, job
Why is "Thou shalt not covet" one of the ten commandments? Probably
because it will destroy your soul if you are covetous. I wish I made Paul
Milsap's salary but I don't. Why should I concern myself with it? His
money isn't coming out of my pocket. How does it hurt me if the starting
lineup of the Jazz make more money in half a season than I'll ever see in a
lifetime of work? It's their money- not mine.
I thought it was more like $1500 and up to eat with Mitt.Some folks
have forgotten that ALL of us -- except perhaps some of the 1 percenters -- are
only one illness, one accident, one job loss, one layoff from joining those the
right loves to hate.
Yep.But who can stop the rich from doing this? Repubs are now
claiming that corporations are people and can contribute millions and millions
to candidates.No wonder why politicians (only) care about the rich!
Voters don't have the funds to eat at Mitt Romney's $900 per plate
It's the kardashian effect. The average person is now able to be distracted
by something as trivial and meaningless as a kardashian. So things that really
matter are not only ignored. They're downright held in disdain by the
people they affect most.