Welcome login | signup
Language en es fr
OccupyForum

Forum Post: Why we are on the brink of the greatest Depression of all time...

Posted 2 years ago on Aug. 26, 2012, 12:29 p.m. EST by Uneasy (19)
This content is user submitted and not an official statement

Why we are on the brink of the greatest Depression of all time

By Wayne Allyn Root, Published August 23, 2012

Everywhere from FoxNews.com to CNBC.com, I suddenly see commentators warning of pending doom, economic collapse, and a new Great Depression. Welcome to my club. Perhaps America's politicians and economists should have paid attention to an entrepreneur and small businessman that has been warning of economic collapse and a new Great Depression publicly for over two years.

More importantly, none of the current commentaries mention the "why's" of this slow motion economic collapse...beyond the obvious -- mountains of deficit and debt. None of them mention the dysfunctional structure of the current U.S. economy and the massive changes in the work ethic and mindset of the average American.

I am a successful small businessman and a patriot who loves America and always sees its greatness. I am also an optimistic, positive thinker who always sees the glass half full.

But not this time.

This time we are in such deep trouble, the only solution is a radical restructuring of the politicians, the economy, and the way we view personal responsibility versus government handouts. If those changes don't come then we are facing a long decline and the eventual end of America.

This time the results are going to be dramatically worse than 1929. This time we are facing The Greatest Depression ever.

Why? Because The Great Depression had NONE of the structural, economic, and social problems, nor the massive obligations we are now facing. Read the facts:

In 1929 America was not $16 trillion in debt, plus facing over $100 trillion in unfunded liabilities. That’s over $360,000 in debt per citizen.

In 1929, most of our states were not bankrupt, insolvent and dependent on federal government handouts to survive. One county (Cook County which includes Chicago, Illinois) now owes over $108 billion in debt (the biggest part of it in unfunded government employee pensions).

In 1929, we did not have 21 million government employees with bloated salaries, obscene pensions, and free health care for life. Today 1 out of 5 federal employees earn over $100,000.

Today, 77,000 federal employees earn more than the governors of their states.

Staggering numbers of federal government employees retire at a young age with $100,000 pensions for life.

Unfortunately on the state and local levels it’s even worse. There is now nearly $4 trillion in unfunded pension liabilities for state government employees.

Protected by their unions and the politicians they elect, government employees are bankrupting America. In Illinois there are retired government employees making over $425,000 per year.

No one could have imagined any of this in 1929. There is no possible way to pay these bills moving forward.

In 1929, Social Security, Medicare, and Medicaid didn’t exist. The federal government had no such obligations threatening to consume the entire federal budget within a few years.

In 1929, there was no such thing as welfare, food stamps, aid to dependent children, or English as a second language programs. American’s didn’t consider it the responsibility of government to pay for breakfast and lunch for school students -- let alone for illegal immigrants at school.

Who could have imagined back in 1929 that one seventh of America's population would be on food stamps…and the federal government would ADVERTISE to encourage even more Americans to sign up for food stamps and welfare.

Who could imagine back then that the federal government would team up with the President of Mexico to encourage Mexicans living illegally in America to sign up for food stamps?

Who could have imagined back then that the president would offer not just welfare, but waivers to allow any state to opt out of requiring work to receive welfare?

Back in 1929, who could have imagined 86 pregnant teenage girls all in one Memphis high school?

In 1929 we had families, moral codes, and churches to prevent this kind of tragedy. Do you actually believe this is just one abnormal high school? There must be record numbers of pregnant teens all over America. They have figured out that the choice is to either work a drab, depressing job paying minimum wage, or pump out babies and have government pay your bills for decades to come. But where will the money come from? This will overwhelm the system with generations of massive debt. This is a nightmare.

In 1929, legal immigrants wanted only to work. My grandparents, who came to this country from Russia and Germany, received no government benefits. They worked day and night to provide for their family and become American citizens. It was sink or swim. My grandmother Anna Root never took a penny in welfare, even when my grandfather died and left her with no job, no money, and 7 young children. So back in 1929 immigrants cost us very little.

Today we have millions of illegal immigrants and their children collecting billions of dollars in entitlements from U.S. taxpayers.

In one state (California) illegal aliens cost taxpayers over $10.5 billion annually just for education, health care and incarceration. Do you now understand why California is bankrupt and insolvent? This is spreading across the country.

More dysfunction? Today new studies show that almost 20% of American children under age 18 are obese and therefore prone to suffer pre-diabetes, diabetes, or cardiovascular disease.

Even worse, by 2020 experts predict that 52% of the adult population of America will have either pre-diabetes or diabetes.

Do you understand the cost of diabetes? This alone will overwhelm and bankrupt America's health care system.

In 1929 we had no federal disability program. Today almost 11 million Americans are on disability. There are more citizens on the disabled rolls than the population of 39 of our 50 states. This is far worse than the welfare or unemployment rolls- which have time limits. Disability is forever. The ratio of able-bodied workers to disabled in 1967 was 41 to 1. As of June 2012 it is now 16 to 1. It is impossible to pay this bill long term.

But wait...it gets worse. Now soldiers are in on the act. Are you aware 45% of returning vets are claiming "disability" -- a number that dwarfs all prior records in the history of warfare. No nation can afford this.

In 1929, we had an education system that was the envy of the world. Today our public schools are in shambles. We spend the most money in the world, and get among the worst results. The difference today? Teachers unions are in charge, instead of parents. Our students graduate with few skills, are qualified only for low paying manufacturing jobs that no longer exist -- they've been shipped to China and India. What will this workforce do for the rest of their lives? Live off the government dole? Who will pay for it?

In 1929 taxes were much lower. Forget the tax rates -- they were meaningless. In those days we had a cash economy, so most businesses paid little or no taxes. Sales and FICA taxes didn’t exist. Today the combined local, state, property, gas, sales, FICA and federal taxes are the highest burden in history.

Unconvinced?

When income taxes started in 1913, the average American was untouched. Only the richest 350,000 Americans paid a 2% income tax. Today the average American works until April 12th just to pay his or her taxes.

This stifles entrepreneurship and hinders the financial risk-taking necessary to create jobs and get out of a Great Depression.

New numbers just out for July back up my contention that disaster looms. Sales tax revenues plunged an alarming $539 million below expectations in California last month. The jobless rate rose in July in 9 out of 10 battleground states -- Iowa, Florida, Michigan, Nevada, New Hampshire, Pennsylvania, Virginia, Colorado and North Carolina all had higher unemployment (while Ohio held steady). They say bad news comes in threes. Well here's the worst news of all- the American Petroleum Institute reports that demand for oil in July was at the lowest level since 1995. These figures are alarming -- to say the least.

Do you get the picture? Our country is staring at the Greatest Depression ever. We face a long slow decline towards the end of America -- unless we change paths and policy quickly.

The economy is crumbling. The situation is turning more hopeless by the hour. The more government gets involved, the worse it gets. Coincidence?

The solution is actually simple: dramatically cut the size, scope and power of government; cut spending; cut entitlements; cut taxes; cut government rules and regulations that smother, damage and destroy businesses, prevent startups, and kill jobs; reform Social Security, Medicare and Medicaid; reform public employee pensions; stop the wars (we can no longer afford to police the world); end or reform the Fed; end bailouts and stimulus (ask Japan about the failures of repeated stimulus); end the Democratic obsession with green energy and high speed rail (ask Spain about the waste in those two programs); encourage oil and energy exploration; encourage job creation by small business and the private sector; term limit politicians; institute school choice; and back the dollar with a gold standard.

Or, like so many other great empires of history, America may never recover from this Greatest Depression of All Time.

58 Comments

58 Comments


Read the Rules
[-] 2 points by jrhirsch (4714) from Sun City, CA 2 years ago

HOGWASH! Our economy is staggering because the wealth of the many is being siphoned off by the few.

One tenth of one percent of the population makes 12% of the entire U.S. income. That's one person in a thousand.

The top one percent own 43% of the financial wealth in this country.

There just isn't enough wealth left for the rest of us, even though we were responsible for most of it's production.

Any economic plan that does not address this fundamental flaw of wealth inequality will fail.

[-] 0 points by Uneasy (19) 2 years ago

Those are BS numbers. They come from here:

http://www2.ucsc.edu/whorulesamerica/power/wealth.html

He makes numbers up. He doesn't cite the methodology to his studies and doesn't cite the raw data. Wolff is a liar playing off of emotion. All he states is it's "careful work". WTF does that mean? He shows nothing. You're just supposed to take his numbers on faith. Look under his heading on "further information" if you want to see the BS he sells.

Don't take my word for it. Let this snake oil salesman sell himself:

http://www.levyinstitute.org/publications/?docid=1235

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

The figure for the tenth of one percent's income comes from this graph by Picketty and Saez. If you can provide a more accurate figure with your source please do so.

http://desertbeacon.files.wordpress.com/2012/07/top-income-composition.jpg

[-] 0 points by Uneasy (19) 2 years ago

Scam artists.

Thomas Piketty, Professor, Paris School of Economics, Emmanuel Saez Professor of Economics, University of California, Berkeley.

Oh yes, they're definitely unbiased! /sarcasm off

[-] 2 points by jrhirsch (4714) from Sun City, CA 2 years ago

Provide some unbiased figures then with their sources.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Still waiting for your rebuttal with facts and sources.

[-] 1 points by Uneasy (19) 2 years ago

I'm still waiting for any factual information from you.

[-] 2 points by jrhirsch (4714) from Sun City, CA 2 years ago

If you have no facts to support your argument that Piketty and Saez are scam artists, your argument proves nothing.

[-] -1 points by brudlo (-454) 2 years ago

its the GOVT. SPENDING, stupid. the constitution guarantees equal opportunity NOT equal outcome, thats up to you, your ambition, your drive, your talents.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

"your ambition, your drive, your talents" and your greed.

[-] -1 points by brudlo (-454) 2 years ago

" greed"? really? indivdual ambition ,drive and determination made this the great country that it is.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

John Paulson, a hedge fund manager made $4.9 billion in 2010. Over $2 million an hour. What benefit did he provide? A few of these so called driven people at the top are feeding on the economic body we all helped to grow. And they're consuming a portion that belongs to you as well.

[-] 0 points by brudlo (-454) 2 years ago

so what? he made a lot of money. again , so what? what benefit does he provide? JOBS. his company is successful, everyone that works there benefits. his clients benefit. they all spend their money on goods and services which benefit everyone .

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Paulson didn't make money by providing a service, he made it by gambling. He made his money at someone else's loss. If everyone gambled for a living, what would happen to our economy?

[-] -1 points by brudlo (-454) 2 years ago

what do you think the stock market is? it is NOT a sure thing when you invest your money. or didnt you know that? people make money, people lose money ( facebook is an example) UNIONS invest in the stock market. so, according to you unions are gambling with pension funds.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Let everybody quit their jobs today and start investing in the stock market. What will happen tomorrow?

[-] 0 points by brudlo (-454) 2 years ago

if you're working, go ahead and quit. if you're not working , do what you want with your time . my understanding is that you're stupid, your posts are the giveaway.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Answer the question. It will expose an important truth many don't want to face.

[-] 0 points by brudlo (-454) 2 years ago

its a ridiculous scenario. i'v already said that the market is never a sure thing . BUT people still invest in it ( along with all unions) with the prospect of gains. if not up front than long term. also, people are invested in stocks and bonds that pay dividends, at a rate higher than can be obtained in any bank. if you have cash and do nothing with it ( current interest rates are exceptionally low) it has no chance for growth. once upon a time, under carter, the interest rate was around 17%, great if you wanted to buy a CD, not so great if you wanted ( needed )to buy a car or a house.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Government spending? Look at this graph and tell me where the money is really going.

http://stateofworkingamerica.org/who-gains/#/?start=1968&end=2008

[-] 0 points by brudlo (-454) 2 years ago

the graph has NOTHING to do with govt spending, its about personal income.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Exactly the point. You say that our economic problems are the result of too much debt due to government spending.

The graph clearly shows why we are in debt. The lower and middle classes are not making their fair share of income because most of the money is going to the top 10%.

Many of the government services that provide a safety net, like unemployment insurance, food stamps, and healthcare have grown so large because people living on marginal incomes can't make it. Try to survive on minimum wage, $7.25 an hour and less than 30 hours a week.

I would rather see the wealthy pay a living wage instead of having the government with it's incredible inefficiency redistribute a fraction of the wealth it takes in.

[-] -3 points by brudlo (-454) 2 years ago

enough of that tired " fair share " mantra. you're jealous of eople that succeed, you want what they worked to achieve . you feel that successful people should be punished.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

No jealousy here, just plain facts. The top 10% take 50% of the income. One person out of 10 takes the wealth produced by 4 others. The other 9 scramble for the rest.

[-] -1 points by brudlo (-454) 2 years ago

the top 10% pay most of the taxes. those people dont " take" anything, they work for it. how do you feel about multi million $ salaries of athletes or " movies stars"?

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

If the top 10% make 50% of the income, it would be reasonable to assume that they pay at least 50% of the taxes. If they made 90% of the income and paid 90% of the taxes would you still defend them?

[-] -1 points by brudlo (-454) 2 years ago

thats not the way the tax code is structured. obama is in the top 1% , he and his wife used the legal tax code to shelter $52,000. any complaints about them?

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

I have more complaints about Obama than you do. Ask anyone here. Search my other posts.

[-] 0 points by brudlo (-454) 2 years ago

are you voting for him?

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

Absolutely not.

[-] 0 points by brudlo (-454) 2 years ago

who? every candidate has some party name attached to them.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

There are a few Independents out there. I vote for the person, regardless of party affiliation.

[-] 0 points by brudlo (-454) 2 years ago

third party?

[-] 2 points by jrhirsch (4714) from Sun City, CA 2 years ago

Selection by person, not party.

[-] 1 points by Carroll (40) 2 years ago

You are in business; you should be able to follow the business of the American government. The mechanism that moderates the political system is a capital market and always has been. Depending on their means, people purchase influence in government to get the legislation that will benefit them. We overthrew the king because he could not deliver for the new middle class. In the early days of the Republic there were no super rich people to throw the system out of balance so the average of the successful business people, buying influence for their economic needs, delivered for the whole country legislation that provided for the common wealth. Politics was a capitalist market. If Congress ruined the economy, the voters replaced them and bought the necessary influence to see that harmful directions are abandoned. That is a capitalist market self-correcting to its greatest gain.

Once the new corporate laws appeared and took effect by the mid 19th. Century, so much wealth could be concentrated in the new corporations that the market of politics became unbalanced. A few could dominate the direction of legislation. The new corporations built the transcontinental railroad and were given leeway by Congress (they bought it) to drive American agriculture into depression, setting the stage for the general collapse of 1929.

The imbalance has simply become more severe since. 2008 was another tipping point, and yes, worse is ahead, because all capital markets self-correct to their greatest gain. Congress and special interests are growing better at what they do every year. At this point the voters mean nothing because Congress and the special interest are locked onto each others sweet spot like lamprey eels.

All of the ideological sides want to blame this symptom or the other, such as the 1% or the failing moral standards. They are fitted with ideological blinders and set out to do battle. They are led to do that by the political system that does not want people to make a practical critique of the imbalance that exists therein. Can we honestly expect Congress to let the teat slip from their mouths? They are content, rather, to set one political persuasion against the other.

If the fault lies in the capital market that moderates the political system, then what is the answer? Let's look at some possible solutions: 1) take money out of politics. Other than the fact that it can not be done (it has been tried--back in the 70's for instance), it also goes against all of of our political history. It was intended from the start that a capitalist mechanism set up within the political system would guide the nation to keep self-correcting to sound economy and the commonwealth. 2) undo the legislation that allowed the modern corporation to emerge. Dumb down our corporations till they can no longer tilt the scales in their favor and let the average of everyone's interest once again find the right people to put in Congress, people who are then beholden to the influence over their behavior that has been bought and paid for through the political system. I'm afraid such weakened corporations would not be able to compete in the world economy and that in itself would work against the commonwealth. 3) find a way to re-balance the system. Find a power great enough to challenge or serve as a countervailing power to special interests. The only source of such financial muscle is the US Treasury, the very funds that Congress has assumed private ownership over to use as barter with the special interests. So how do we take that ownership away? We can not strip Congress of the right to spend the money AND keep our Constitution. The ownership must be balanced by a competing private ownership by the individual taxpayers. Think of the government as a business. People pay in Capital to the Treasury and then the managers get to spend it. In a business, the owners will be pissed if the managers spend it to fill their own pockets. We as taxpayers can do nothing aboust such abuse even though everyone knows the score. Whoever is elected is admitted to the same private club and lock onto a few teats. How to break out of the impasse and put the weight of the nation's wealth to work FOR the commonwealth again? Issue ownership Stock to the individual taxpayers, pro-rated to the payments they made into the system. Make them active players in the capital market that moderates the political system. If their 'managers' pass legislation that takes care of the economy, the value of the taxpayer/voters' Stock will rise. If they return the nation to a surplus again, the taxpayers can cash in their Shares if they choose before Cheney can start another war to suck the money up. Over time the capital market will self-correct to its greatest gain which is also the commonwealth. Voters will check the value of their Stock before heading to the polls. 4) Throw out the Constitution and soak up the blood of a civil war leading to outright corporate capitalism, known as Fascism in the last century.

[-] 1 points by jph (2652) 2 years ago

yes, lets cut the military budget,. cut the subsidies to the oil industry,. cut the r/d to the weapons makers/distributors, cut the corporate welfare, cut the regulations that keep corporate monopolies in power,. cut funding the politicians that lie, cheat, and steal,. lets regulate wall street, and the corporations that lie, cheat, and steal,. or better yet lets just outlaw what they do! Lets redistribute the resources more equally, as they are all piled up in the hands of a tinny minatory,. lets free the wealth, the resources that belong to all of us,. not just the 1% Lets keep it green,. not this gold sht you are proposing gold is not food.

[-] 1 points by cajunMan (-10) 2 years ago

We are sliding into a deep depression and it is not very far away. It is going to be much worse than the first one also. Many people will suffer and there will be a lot of social unrest. I am fortunate that I do not live in or near a city

[-] 1 points by myows (133) 2 years ago

You make alot of legit points but due to your political ideology you also leave many things out at the other end of the spectrum. You need to mention that the rich are holding 15 to 30 trillion dollars offshore, You need to mention that PROSPEROUS companies are sending American jobs overseas and gutting employee healthcare plans and trying to grab their pension fund money. You need to mention that alot of rich individuals and corporations are paying alot lower tax rate (sometimes ZERO) than the average middle class worker. I could go on and on, but you get the idea. The only way this country is ever going to get straightened out is if a moral politician comes out of the woodwork and tackles the people that are gaming the system whether from above or below. I don't see that happening, so I guess I agree with you 100% that a bad time is coming,

[-] 0 points by Uneasy (19) 2 years ago

Well, 15 to 30 trillion is a big difference. Which is it? Where do you get any of these numbers? The M0 money supply (cash) is only $908 Billion as of July 2009 for comparison sakes.

Many businesses are paying taxes at the individual rate, since that's what they file at. What PROSPEROUS companies? Are they incorporated in the U.S.?

Are you just making stuff up, cuz it sure sounds like it.

[-] 2 points by myows (133) 2 years ago

up to 32 trillion hidden in offshore tax havens http://www.democracynow.org/2012/7/31/exhaustive_study_finds_global_elite_hiding

When firms pay their CEO more than they pay uncle sam, system is broken

http://www.latimes.com/business/la-fi-lazarus-20120828,0,2867291.column

Thirty companies that paid no income tax from 2008-2010

http://www.reuters.com/article/2011/11/03/us-usa-tax-corporate-idUSTRE7A261C20111103

Now here comes the part where you reply to me that the CEO of GE is a pal of Obama. Well, let me cut you off at the pass, I DONT GIVE A SHIT! I am not protecting one party or another, If a person is wrong, he's wrong, regardless of party affiliation. However I do think that overall, the Dems are slightly more sympathetic to the working class. About a month ago there was a bill in NY and NJ that would've stopped giving tax breaks to companies that outsource American jobs, every Republican voted against this bill! Nice guys.

[-] 0 points by Uneasy (19) 2 years ago

"have between $21 and $32 trillion of hidden financial assets around the world in what are known as offshore accounts or tax havens. The actual sums could be higher"

Big spread there. Just pissing in the wind? If it's hidden, how the hell do they know about it?

By the "tax justice network". WHAT THE FUCK???? LOL

They're literally pissing in the wind...

"Estimation Methods. As discussed below in more detail, this paper employs four key
estimation approaches: (1) a sources-­‐and-­‐uses model for country-­‐by-­‐country
unrecorded capital flows; (2) an accumulated offshore wealth model; (3) an offshore
investor portfolio model; and (4) direct estimates of offshore assets at the world s top
50 global private banks.

To compile its estimates, the paper uses latest available data from the World Bank and
IMF, the UN, central banks, and national accounts to explicitly model capital flows for
each member of a subgroup of 139 key source countries that publish such data.

The paper goes further, supplementing these models with other evidence, including (1)
data on so-­‐called transfer mispricing, (2) data on the cross-­‐border demand for liquid
mattress money like reserve currency and gold, part of which may move through
offshore markets; and (3) a review of market research by leading consulting firms on the
size of the offshore private banking market. (See Section 5, below, for more details.)

We believe that the resulting estimates of unrecorded capital flows and accumulated
offshore wealth are the most rigorous and comprehensive ever produced.1 In the spirit
of open research, we hereby issue an open challenge to the IMF and the World Bank
to all comers, in fact to see if they can come up with better estimates. "

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CCAQFjAA&url=http%3A%2F%2Fwww.taxjustice.net%2Fcms%2Fupload%2Fpdf%2FPrice_of_Offshore_Revisited_120722.pdf&ei=bQU-UNi2IuWs6QGR7ICIBA&usg=AFQjCNFJtPPZca7BP_F1IE3fY-UHWXM5aw&cad=rja

In other words, we make up numbers. We are "Tax Justice... We show no raw data or methodologies. Please beat our made up numbers!

USE YOUR HEAD, YOU IDIOT.

[-] 1 points by myows (133) 2 years ago

If you want to know the reason this country is basically finished, the conversation here between me and you is a good indicator.First, you posted about gov't entitlements that are way out of control, and I basically agreed with you but also wanted you to be aware that those up above us are not innocent either with their tax dodging, taking pensions and healthcare from workers, outsourcing, etc... You accused me of making things up and I so I gave you some quick links. You reply that the articles are bullshit and I'm "an idiot" It's funny but if I agree with a person 50% and they then call me an idiot, they can't be too bright themselves. Have a great day and go look up "useful tool" if you don't already know the meaning, because that's what you are.

[-] 1 points by dreamingforward (394) from Tacoma, WA 2 years ago

Glad to see someone seeing the reality. It is worse than the Great Depression, it is more akin to entering a Dark Ages.

Occupy was the last hope, and now that it has been molested into silence, the infection has gone within.

[-] 0 points by Uneasy (19) 2 years ago

Occupy KO'd itself.

[-] 1 points by dreamingforward (394) from Tacoma, WA 2 years ago

Wrong, dumbshit. It was exercising it's rights. Just because it couldn't articulate itself well does not mean they should be assaulted or ignored.

[-] -1 points by Uneasy (19) 2 years ago

Oh, it should and is being ignored. Good luck, asshat.

[-] 1 points by MikeSmith (2) 2 years ago

Blame Ben Bernanke. Bankers and his Wall St friends profit major $$$ by bringing down the dollar.

[-] 1 points by Uneasy (19) 2 years ago

It takes a lot more than Ben Bernanke to take a country down. No, when more people can vote themselves free stuff and pay little or nothing for it, that's what brings a country down.

The dollar is being brought down by the demands of the welfare state for more printing of dollars, thereby making them worth less and less. It's economics. Nothing is free.

Frankly, I'm tired of the left trying to spread misery to try and even things out.

[-] 1 points by kaiserw (211) 2 years ago

It does take more than Bernanke, it's been a war waged against the poor (with all the best intentions for all eternity), doing "the greater good" which is good for no one. A half dozen generations of that, and you have this. Much of it can be blamed on the FED because it distorts incentives, until eventually, they're completely unrecognizable from the natural incentives.

Then there were a thousand well intentioned programs to help people like Pruitt IGoe (google it) that required for families to live there, no man could live with the family, thereby incentivizing splitting up poor families. You can't make this shit up. http://www.economist.com/blogs/prospero/2011/10/american-public-housing

[-] 1 points by Uneasy (19) 2 years ago

War waged against the poor? Horsesheit. We've been throwing TRILLIONS at the inner-shitties for decades, thanks to democrat mayors put there by the urban dwellers, more interested in $200 basketball shoes than learning math and english.

Meanwhile, an Asian comes over here with $500 dollars in his pocket, puts his mind to it and 25 years later owns three grocery stores and a couple of houses and his kids graduate with degrees in engineering and science. Explain that to me?

[-] 1 points by ogoj11 (263) 2 years ago

Cultural differences exist, but they come from history. Years of emasculation of African-American men by a system that feared any assertion of black power, that obliged all black males to look down and shuffle along or face lynching, have produced a culture of hyper-masculine self assertion in response.

You'd be happier if you joined the struggle against racism rather than trying to repress, rather unsuccessfully, that racial rage.

[-] 1 points by Proteus (141) from Quebec, QC 2 years ago

His mentality is different, he may be more indoctrinated too, some are retarded.

The Egyptians of old were slaves, they actually worked for free! Well, they needed food and things too, and they had them.

It is a mater of competition too, capitalism is an ego competition, in a lot of instances, the more you are ego driven, the more you'll suceed, that's what I call artificial selection. So if there are one job for 2 workers, the most motivated, or educated, will have it, in simple theory. And what to do with the worker left? Kill him? Bad for the election, and evil, drop him in the forest? The forest have become protected zoos and you would need many permits, costing money to survive. How about becoming a criminal? So you see, the cheapest option, for someone like you that want to keep a semblant of being a good person, is to permit him to survive, and that's still cheap as a notion in capitalism.

[-] 0 points by Uneasy (19) 2 years ago

Permit him to survive? How about s/he apply themselves and survive.

I hate moochers. It's just that simple. Third generation welfare sucks balls. It's time they get off their asses and stop making excuses. It gets old after a while. Get off the dole and toil like everyone else.

[-] 0 points by NOAMISRICH (28) 2 years ago

yeah yeah the stock market recovered and unemployment never hit 20%. The long term unemployed has ISSUES they won't tell you. Our nation has around 72 trillion in total assets. LOL

[Removed]

[Removed]

[Removed]

[-] -2 points by Stormcrow1 (-25) 2 years ago

What you post makes perfect sense. However, it's falling on deaf ears. The vast majority of people don't want to understand what you are saying but instead want to blame someone else because of it.

Watch all the posts coming in and you will see what I mean - if in fact they do post.

You as a businessman understand more then the vast majority who post here. There are very few here with any business experience and don't understand that it is the small businesses of this country that keep the economy going.

It is also the small businesses of this country who provide revenue to the government so that the government doesn't have to print money and shore up the economy.

Needless to say the last 3.5 years of what we have been faced with has been a result of our president wanting to take this country down to its knees so we will be equal in prosperity with the rest of the world - shoeless, living in poverty and shacks - that is where our present administration is driving this country.

And if you read the vast majority of posts on this site you will understand that they think the same way.

They will definitely consider you evil rich and wealthy because you own your own business and will place little or no regard in to what you have posted because they consider people who work for you slaves.

So be ready to get slammed.

[-] -2 points by freewriterguy (882) 2 years ago

I agree with your article that government overtaxation is the culprit. As for the illegal immigrants who are consuming billions of dollars of taxpayer money there is a human delimna, they have no where on earth to go. If this nation needs to come to its knees so that men may be free to till the earth and support their families again so be it. Recently I was talking to a homeless man that is going in and out of court for trespassing tickets. Everywhere he goes, he is given a ticket for trespassing or for loitering. One on occasion he was given a ticket for standing in line at the homeless shelter before the appointed time. He got out of that ticket on a technicality, now listen to this His drivers license listed the homeless shelter as his place of residency. The homeless man argued in court how can he be trespassing on his own place of residence. The state counter argued, do you pay rent there? He replied, no but you get paid for each and every one of us. They dismissed that case but he has 3 trespassing tickets pending, and has already spent 8 months out of the last 3 years in jail.

Now if I was God over the earth looking down over the workings of this people, I say this alone would be enough reason to remove the double portion blessing from us.

[-] 1 points by elf3 (2506) 2 years ago

Welcome to the Dickens novel... the scarcity of land is a portion of this problem - this is a great little docu on the subject and the economy ... Real Estate for Ransom on you tube if you don't want to follow the link

http://www.youtube.com/watch?v=XL3n59wC8kk

The other portion of this is the FED bank - lending money they are allowed to make (and virtually pull off an imaginary money tree) to the government at an interest rate of their choosing. The interest will always be more than the amount borrowed and thus the taxpayer will remain forever in debt to a wealthy elite powerful group of people given power by a Congress who is receiving a cut.

The last portion is the rise of the monopoly which has undercut entrepreneurship and the average worker in America

[-] 1 points by freewriterguy (882) 2 years ago

scarcity of land ISNT the problem. Take a drive in your area in any direction and what do you see? after an hour or so you see open land, The problem is someone has stolen the earth. They have laid claim to the entire earth and denied future generations any place of residency, except they should pay them first! What should occur is that people should be able to move onto undeveloped land especially far away from everywhere, and irrigate nearby streams, rivers, or dig a well, and cut down trees to build a home, and settle there. Without some other man saying, they need to pay them for the earth first. Its so bad, I wouldnt be surprized, if soon we will have to pay for the air we breath, after all, those plants are rooted in some other man's land.