Quote:
Originally Posted by bb4_96
^ you realize just about every engineer/manufacturing/development job is middle class right? were they too fat and lazy to become doctors and lawyers and push into that 100k+ range? Ah i see what your saying. The lazy middle class should start becoming movie stars and pro athletes.
The middle class performs jobs at wages that are flatlining because there is no money to propell that segment. The poor are another segment and fall into another category. I gree the poor ought to be thankful for wlefare but I'm not very concerned with the moochers well being. I'm worried about the skilled labor force of the middle class, college educated or career skilled.
The middle class did spend rampantly and its no ones fault but their own. But the wealthy came up with swell new ways to use derivatives and that is no ones fault but their own. I didn't open this to point fingers. The writer of the article foresees uprising against the wealthy which I'm not a fan of. But how else do you re-redistribute the wealth? It's not about work. There is a demand for work, there always will be, however there is no sustainable capital to fund any substantial work.
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Wow just wow, first off before you go blaming the economic malaise on the rich. You should understand a few things.
1. Cheap easy credit is something the Democratic congress during Clinton's years in office pushed for as a means to affordable housing. They approved it and he signed off on it.
This in turn led to an easy credit frenzy. a frenzy where people that should not have been purchasing houses, since they could not afford them in the first place ,did so anyways.
Where people bought stuff on credit because they could, not because they had the savings to back it up.
Where people took jumbo loans out. In order to buy houses that cost above, what they could afford because they could get the loan.
Where people took out second and sometimes third mortgages, to finance new cars or vacations, treating their homes like a bank.
Now, because of the extreme economic upswing during the late 90',s all of this was easy to do with easy credit and rampant speculation of rising Real Estate prices.
Given this, yes their was some corruption in the banking industry and loan industry , credit default swaps,bad mortgage backed securities and whatnot.
Though to lay blame, to one party and say the rich are at fault? That is the trumpet cry of the poor who have nothing and has gone on throughout history.
It also is the cry of the Communist. The rich have to much take it away from them. Give it to us. Even out the wealth. Guess what? That has never worked as of yet. The minute that kind of thing starts to happen the thugs step in and setup a totalitarian system. At which point the poor get exploited worse than they could have ever imagined.
The poor that could not afford housing, did indeed sign the doted line on stated income mortgage's . Which they knew they could not afford. Why you ask? Because they like everyone else got this crazy idea that home prices were going to keep on rising.
That they could refinance in two or three years at a lower rate. Trading on the supposed equity they were going to gain.
This is no one's fault but there own.
You do realize, that the rich still spend and that keeps the economic engine going? Or are you that blinded by the have not who wants some, but does not want to work for it?
Now on to your statement about engineering jobs and middle class type pay flat lining.
You obviously do not understand that in 2009 damn near everything flat lined.
Hell I did not earn a damn cent. I lived off my assets. This year is better but its not were it needs to be and growth while there is slow.
Oh and don't even get me started on your statement about Obama and the Senate and the House. They pretty much rubber stamp everything he wants.
Oh and fact is most of the shit being put to stimulus is for stupid little pet projects that Senators have been campaigning for, for their districts for years. Not real job growth. That is not the corporations fault that is our current House and Senate with our President at their best. LOL
Its funny how people whine and complain about the banks that got bailed out, are making money. Though those banks are the ones that have completely paid back the TARP money with interest.
That GM has managed to pay back theirs as well, that AIG might just pull it off themselves. Meanwhile Fannie Mae and Freddie Mac which are the current administrations darlings has not paid back a cent.
We are in a slow growth economic recovery at this point, to sit there and say we are not? Is to not have been following this the whole time. Or a severe lack of understanding of current economics.
In the end, yes America does need to improve its manufacturing base. The also people need to realize that the people who work harder will become rich and those that do not will not.
That you can have a nice life without having the most expensive shit.
The current middle class is partly a bunch of cry babies who do not want to take responsibility for their own actions and part in the mess. People who are more concerned with the new toy rather than living a decent life.
Rob from the rich give to the poor. LOL America is not in that sad of a state.
Economic revolt? We have already seen with the current administration and it is failing.
This was no one faults but their own . Robert Reich is a left wing economic rabble rouser . He actually speaks like a Communist.