Yuku free message boards

HattieB99 wrote:

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Just a quick Economics lesson for those who do not understand:

First, this is a GLOBAL economic crisis that has (based on leading ECONOMISTS' assessment) and was rooted in corporate greed. (See Crash of 1929) The fact of the matter is that the middle class is what keeps in major economy functional, the middle class is the buffer. During the Clinton WH, more moved into the middle class than any other time in American History, those same people who saw upward mobility were the first to feel the effects of the economic downturn.

Second, our economy was based solely on the success of the housing markets. As early 2004, many economists were calling the housing market a financial bubble that could not be sustained. If anything, what happened with Enron and Arthur Anderson should have been a neon sign of things to come. A significant majority of American 401k plans were invested in stocks that were held up by the "housing market". Merryll Lynch was just one of the companies to encourage investment into this type of market. Add to that the number of real estate speculators (house flippers and rogue mortgage brokers) used this as a financial gold mine. Eventually what you had were people being sold the American dream, blindsided by a rose colored glasses, deceptive administration.

Third, we are fighting two wars. Two wars where a majority of our spending is going to defense contractors. Defense Contractors who are making billions off the backs of our soldiers. This is not "theory" "speculation" "conspiracy theories" this is fact. No government can fight two costly wars and not suffer some economic fallout. In fact, China the Saudis, etc are pouring money thus they have debt.

Fourth, healthcare, healthcare, healthcare.

Last, tax cuts. It has been said repeatedly, you do not cut taxes in the middle of a war. That is unheard of and irresponsible. Tax cuts are great when they benefit the buffer group, ie the middle class.

Going back to my previous points, when you have the owners, etc making more than their workers then how are workers expected to buy the products of said firms? This may sound fairly simple and rudimentary, but it is simple economics at its most basic form. Again, I am not an economist, nor do I pretend to be. I loathed econ in college. However to do read and study so that I can understand those things that are going on in my world. So that I will have a better grasp rather than relying on over simplistic explanations and 20 sec soundbites from an infotainment driven media.