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Subj: Re: Depression historian warns of a 1929 repeat.
Posted: Mon Dec 18, 2017 at 09:42:20 am EST (Viewed 87 times)
Reply Subj: Re: Depression historian warns of a 1929 repeat.
Posted: Mon Dec 18, 2017 at 08:41:45 am EST (Viewed 92 times)
Quote:The party in power will really be the one punished for thing. One does have to give some credit to the GOP and express frustration over the ignorance of people. Cut taxes and increase the deficit and debt. Demand cuts to pay for it and keep repeating. Particularly when Dems are in power.
Quote:Just keeps going down the same hole.
Even beyond the tax cuts, I'm worried about the deregulation and the drastic shift towards anti-evidence based 'solutions' to America's problems. It seems like Americans have given up on gritting their teeth and getting hard stuff done, and have opted for quick and easy patch jobs (which is what Trump sells). An ignorant electorate allows for the GOP to push their tax cuts.
I'm sure you're aware of the list of words now banned by the Trump admin pertaining to the CDC. It's outright lunacy.
Quote:The tax cut, at least at this point, as a whole, and the lies being told to sell it make no sense either. Given high employment at the moment I am not sure where they are thinking all of the jobs are going to come from. If anything, there are already an increasing number of jobs of varying kinds but there are not enough workers to fill them. This should force increase pressure to increase wages but it has not to any high level yet, but some indications it is starting.
Based on history, companies and the rich will sit on the money and/or give it to investors and buy back stock. If they increase wages, that sets a precedent that will be difficult to roll back. It's not in the nature of most companies to voluntarily and generously increase wages, even though happy workers are more productive workers.
Minimum wage, adjusted for inflation, should be like $23.
Quote:Paul Ryan made some comment about American's needing to have more babies to keep things moving like they are, but another way that the GOP ignores that is much more useful for the now is immigration. If you need more people to do a given job or set of jobs than the economy really does not care where those people come from in the first place.
A very good case could be made by the GOP that skill-based immigration needs to be stepped up (while not closing the door on refugees). However, anti-immigration groups have a real lobbying presence within the Trump admin, and an open ear with Trump.
Families just can't make people like they used to, mostly for economic reasons. Just an anecdotal example, my brother and his wife work three jobs between the two of them, and struggle to take care of a single child. One of those three jobs JUST BARELY pays for child care. This is a middle class family. They couldn't afford another child if they wanted one. That's what's suppressing family growth. The Middle Class used to be sustained easily by a one-job income, rather than just scraping by with three.
Regarding immigration, in Canada, every second doctor is a first or second generation Indian (from India, not indigenous Canadians). We largely recognize the need to repopulate via immigration. The older work force is dying off. I understand that Canada is a more sparsely populated country than America (30 million versus 300 million), but the problem is going to bite just the same when the baby boomer generation goes into retirement (basically now). I'm not a financial or economic guru by any stretch, but it seems the strain on social security combined with a sparse workforce is going cause 'bigly' problems.
Quote:The GOP happily ignores that in their zeal to attack foreigners.
It's going to bite them in the end. There are not enough angry white conservatives left to win elections. The youth vote are not only more liberal, but are more tolerant of immigration and welcoming of diversity. The poison that the GOP peddle in is only going to motivate them to turn out the vote. They never should have burned that Republican Autopsy from 2012. It was their path to relevancy.
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