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10/16/2011

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Jack

Tans, Thanks, and great! I've been urging you put forth some ideas beneficial to our working folk.

A few questions w/o spin or bias:

Do you think the wage disparity depicted in graphs I've often posted is:

A. Ideal

B. Should we continue to let yet higher percentages of our GDP consolidate in fewer hands?

C. If not should we do nothing and hope something will change the course of events w/o a guiding hand from political input?

And lastly: If we disagree about the solution, mine stated simply is that of recognizing the disparity as a PROBLEM that threatens the whole game and urge taking an activist, interventionist approach. I've NO hope that the collective bargaining of a mfg dominated economy can play the leveling role it did for several post WWII decades, leaving few effective tools.

What do you suggest? Jack

Jack

The top one depicts the overall trend well while the lower one tells the story of what is and has been happening to the "middle class".

http://lanekenworthy.net/2008/03/09/the-best-inequality-graph/

Jack

O'brien? On OWS? Isn't it refreshing? Finally! like a storm breaking a long drought! Working folk belatedly voicing the words of "Howard Beale" in the 1976 film "Network"

"Beale: I don't have to tell you things are bad. Everybody knows things are bad. It's a depression. Everybody's out of work or scared of losing their job. The dollar buys a nickel's worth; banks are going bust; shopkeepers keep a gun under the counter; punks are running wild in the street, and there's nobody anywhere who seems to know what to do, and there's no end to it.

We know the air is unfit to breathe and our food is unfit to eat. And we sit watching our TVs while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that's the way it's supposed to be!

We all know things are bad -- worse than bad -- they're crazy.

It's like everything everywhere is going crazy, so we don't go out any more. We sit in the house, and slowly the world we're living in is getting smaller, and all we say is, "Please, at least leave us alone in our living rooms. Let me have my toaster and my TV and my steel-belted radials, and I won't say anything. Just leave us alone."

Well, I'm not going to leave you alone.

I want you to get mad!

I don't want you to protest. I don't want you to riot. I don't want you to write to your Congressman, because I wouldn't know what to tell you to write. I don't know what to do about the depression and the inflation and the Russians and the crime in the street.

All I know is that first, you've got to get mad.

You've gotta say, "I'm a human being, goddammit! My life has value!"

So, I want you to get up now. I want all of you to get up out of your chairs. I want you to get up right now and go to the window, open it, and stick your head out and yell,

"I'm as mad as hell, and I'm not going to take this anymore!!"

Let's hope they/we can sharpen our message and rescue our failing nation!

Jack

Well, we could, and likely should, discuss Jeff Madrick's book "The Age of Greed" He was on Cspan's Book TV this week:

http://www.amazon.com/Age-Greed-Triumph-Finance-Decline/product-reviews/1400041716/ref=dp_top_cm_cr_acr_txt?ie=UTF8&showViewpoints=1

http://www.rollingstone.com/politics/blogs/national-affairs/jeff-madrick-on-how-wall-street-won-and-america-lost-20110624

NEH

Jack, After a quick review, Madrick's central premise about the deregulation of Banking and Finance since the 1970's and its consequent negative effects on the general economy at large sounds eerily like the arguments of the need for the creation of the First and Second U.S. National Banks in the 1790's and 1800's. Which were subsequently torpedoed by Andrew Jackson and gave rise to the Privatised State and local Banking System and Mints we have today in modified form. And the rise of Bank Panics, Currency Panics, Recessions and Depressions we all have had to suffer through history and as of late.

Back then it was question of Investment in Productive Enterprises vs. unrestrained Speculation. Today, once again, it's a question of Investment in Productive Enterprises vs. unrestrained Speculation. We just don't seem to learn and the Wheel just keeps spinning round...

Hopefully, this latest round of Economic Vodooism will scare enough that we will finally grab the "Bulls and Bears" by the horns and tail and get the whole thing under control, but I doubt it.

Jack

NEH --- because too many are still milking it and we've yet to elect and support anyone who'll stand up and wean them?

Madrick covered a lot of territory on Cspan books..... the gist of which is that our economic system in NOT a winner take all, devil take the hindmost game for the few, but a a tool and system for all to participate, benefit and feel they are a part of the whole. I can not imagine a winning argument to the contrary.

Ha! even now chilly Anchorage is having OWS demos on Saturdays......... pending approval of permits for a camp. Mark this down: This thing has LEGS!

NEH

Jack, "OWS"? But a "cry in the wilderness". The real issue is, if a tree falls in the forest and there is no one there to hear it or suffers from selective hearing, did it really fall? Not that it's going too make any difference...

Jack

Neh -- Ha! True, though however small Alaska does have a Congressional contingent, but your comment likely extends to the curious deafness to the roar of 20 million job seekers averaging 49 weeks on unemployment in the House, and perhaps both bodies.

At the closer to home level.......... If a man walks deep into that forest, so far that no woman could possible hear his voice and he says something; is he still wrong?

NEH

Jack, For the sake of peace on the Homefront, I'm going to answer "Yes". Although, I'm accused of excessive muttering from time to time. "The mark of genius is to know when things are better left unsaid"... ;)

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Having higher numbers of occupants per existing structure doesn't bode well for selling off the homes having fallen or about to fall into the laps of bankers.All of the sci-fi stories pointed to a shorter work week, more leisure time and industries developing around increased leisure time coupled with the income to enjoy it. We have nothing like that in place or even in mind. Instead those desperate for any kind of job are to work longer hours for less pay and be appreciative for their opportunity.

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All of the sci-fi stories pointed to a shorter work week, more leisure time and industries developing around increased leisure time coupled with the income to enjoy it.

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We have nothing like that in place or even in mind. Instead those desperate for any kind of job are to work longer hours for less pay and be appreciative for their opportunity.

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The bitter truth is that the employment prospects for a recent college grad are far more grim, especially full-time employment in their field of study.

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The Occupy Movement and everyone else worried about earnings inequality should be emphasizing the need to find ways to encourage more high school dropouts and high school graduates to get the required background and study habits so that they can, and want to, continue on for a college education.

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As compared to the post-World War II era, Americans with high school diplomas today are much less likely to find manufacturing jobs, because there are 2-3 billion people in emerging economies with similar skills who are willing to work more cheaply in order to have a shot at attaining a middle class standard of living.

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Global demographics instruct that manufacturing job growth in nations with emerging economies will continue to outpace manufacturing job growth in America.

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affl, As for being "well read", they're called Libraries, both Public and Private. Open to all comers, but only those with the desire, inclination and are willing to put in the effort...

Being fat and dumb is really no way to go through life. ;)

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All of the sci-fi stories pointed to a shorter work week, more leisure time and industries developing around increased leisure time coupled with the income to enjoy it.

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Global demographics instruct that manufacturing job growth in nations with emerging economies will continue to outpace manufacturing job growth in America.

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