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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (695051)1/24/2013 3:39:06 PM
From: i-node  Read Replies (1) of 1576588
 
Post WWII, we had periodic recessions, much milder than the Panics and Depressions that marked the 18th and 18th centuries. And the middle class blossomed. Starting with the Reagan administration, we started to implement Friedman's policies. And the middle class started a long decline. Culminating with the great belly flop of 2007. Now you could argue that there were many factors that led to it, but the same has happened in every country that has implemented those policies. Including the decline of the middle class.


I'm sorry but I don't see it as a positive when a nation usurps the standards of living of its children in order to prop up the standards of living of its adults. Which is what we're doing. Our kids and grandkids have to pay for this travesty.

The middle class is bifurcated, not universally declining -- a lot (perhaps most) of which has to do with policy that corrupts normal market forces. Markets work, consistently -- with very few exceptions (all of which are easily identifiable).
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