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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (102761)	4/19/2009 2:28:20 AM
From: marcos	11 Recommendations Read Replies (1) \| Respond to of 110194

The Who also went on at length about our generation, which is relevant to the economic picture - there was a demographic sweet spot beginning in the sixties, as young adults came into their earning and high-spending years while the generation of their parents was still working, this gave a high proportion of employed taxpayers per unit of population, which would have made it possible to knock back further the war debts and improve infrastructure considerably - this opportunity was squandered by Johnson with his Vietnam and Great Society spending, both quite damaging to the nation and at huge economic cost ... nothing Nixon Ford or Carter did made any improvement to the situation, then along came that retread movie actor and blew the debt sky-high, looks dramatic on a chart but the roots of it were back there fifteen and twenty years previous LJ's point as i see it is that trying to score partisan political points will degrade any rational discussion of economics or financial matters, i agree with him ... of all the political parties in the three countries of this continent, there is not one with a cohesive programme stemming from first principles well-thought and well-planned, it's all mixed in with short-term vote-getting and bringing home the pork ... at the root of this, is that electorates are not particularly bright or far-sighted, the better grades of people do not go into politics and if they did they'd get ripped apart ... we're headed into an election here in BC, which is what brought this to mind, don't know what disgusts me more, the idiots i voted for last time or the other idiots i'm forced to vote against again, it's just best that nobody on SI say a positive word on any party anywhere until after the middle of may, lol

To: benwood who wrote (102761)	4/19/2009 1:22:02 PM
From: Skeeter Bug	3 Recommendations Respond to of 110194

benwood, one nuance is that the increased GDP has benefitted the wealthy much more than everyone else. for example, i read that less than 30% of rents, dividends and similar income went to the top 1% wealthiest people in the late 70s and now more than 70% go to the top 1%. that means that the tax burden on the middle class has, in fact gone up substantially unless the wealthy have their tax rate raised much higher than the middle class (unlikely to happen as the uber rich run government and fascism - corporate controlled government - isn't going anywhere).