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Forum Post: The Capitalist Bubble

Posted 4 years ago on Aug. 21, 2014, 2:51 p.m. EST by Crackpot (53)
This content is user submitted and not an official statement

Dedication of the G.W. Bush Presidential Library in Dallas, Texas, in April 2013 was an historic occasion that brought all the living former Presidents -- Jimmy Carter, George H.W. Bush, Bill Clinton and George W. Bush -- together for the first time since right before President Obama took office in 2009.

Why hasn’t there been a White House Round Table gathering of former US Presidents, cabinet members, Nobel Laureates, leading academics and industrialists, Congressional leaders to solve the problems of the Great Recession: American labor, low salaries, unaffordable housing, education, and building a sustainable crash-proof economy? There may be several answers to this question, but they are not very good answers. How could it be possible that our government allowed the Great Recession to happen in the world’s wealthiest country?

From the 20th century forward with exception of Franklin Roosevelt, the trend of White House policy seems to have been against the middle class instead of its partner and protector.

The American middle class is a social class in the United States. While the concept is typically ambiguous in popular opinion and common language use, contemporary social scientists have put forward several more or less congruent theories on the American middle class. Depending on the class model used, the middle class constitutes anywhere from 25% to 66% of households.

One of the first major studies of the middle class in America was White Collar: The American Middle Classes, published in 1951 by sociologist C. Wright Mills. Later sociologists such as Dennis Gilbert of Hamilton College commonly divide the middle class into two sub-groups. Constituting roughly 15% to 20% of households is the upper or professional middle class consisting of highly educated, salaried professionals and managers. Constituting roughly one third of households is the lower middle class consisting mostly of semi-professionals, skilled craftsmen and lower-level management. Middle-class persons commonly have a comfortable standard of living, significant economic security, considerable work autonomy and rely on their expertise to sustain themselves.

This definition of the American middle class omits the global view of middle class. On the world scale the American society is upper middle class and lower middle class because there is no royal, noble, clergy, bourgeoisie, and proletariat class strata in the United States. On this global scale, American society is the equivalent of bourgeoisie and proletariat classes.

Glass-Steagall, The Complete Story...


How the Middle Class Got Screwed


The Coming Collapse of the Middle Class with Elizabeth Warren


The living Presidents of the United States should have expertise and insights that would help solve problems in the economy. Every initiative from the White House in the past 3 decades has been for deregulation and tax cuts for the rich instead of more regulation and raising taxes on the rich.

Savings and Loan Scandal: Taxpayer Bailout


The Savings and Loan Banking Crisis: George Bush, the CIA, and Organized Crime


Deliberate implosion of US economy - Former Bush Sec. of Housing Catherine Austin Fitts


Bush vs. Clinton Record: Do Tax Cuts Work?


Tax Cuts For Rich Don't Work - Cenk On MSNBC


President Bush: Bush Tax Cuts Destroyed US Economy


alan greenspan on george w. bush, taxcuts, and cheney


McCain: Fundamentals of Economy Are Strong


The Meltdown of 2008

Subprime Crisis in a Nutshell - 2008, Financial Meltdown Explained


2008 Financial Crisis: Credit Rating Agencies commit fraud/ incompetence


The USA has been living in a Capitalist bubble since the Spanish American War.

"26 TRILLION Dollars In Bank Bailouts! That's Not Including TARP!" Alan Grayson


Alan Grayson Laughs In Ben Bernanke's Face


Alan Grayson Grills Timmy Geithner


$9,000,000,000,000 MISSING From The Federal Reserve


Who Repealed Glass-Steagall


The White House has been the source of most of the problems in the economy since Richard Nixon.

The Men Who Crashed the World - Meltdown Part 1


The Men Who Crashed the World - Meltdown Part 2


The Men Who Crashed the World - Meltdown Part 3


The Men Who Crashed the World - Meltdown Part 4




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[-] 2 points by Ihippy (49) 4 years ago

"Why hasn’t there been a White House Round Table gathering of former US Presidents, cabinet members, Nobel Laureates, leading academics and industrialists, Congressional leaders to solve the problems of the Great Recession"

because the people with the power to change it would have to accept a smaller portion of the pie as part of the solution. They know this and are unwilling to change it. So, they have decided to continue exploiting the citizens instead.

[-] 1 points by Ihippy (49) 4 years ago

God willing, it'll pop very soon so we can get on with a real recovery and a democratic economy.

[-] 1 points by turbocharger (1756) 4 years ago

Gonna happen sooner or later, right? Might as well get it done with..