Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (169548)	8/19/2011 3:06:23 PM
From: Mary Cluney	Read Replies (1) \| Respond to of 543147

<<<Yes they have to suck it up and yes it involves some pain and sacrifice. The sooner we learn to live within our means the sooner we get back to a healthy economy.>>> I am not an economist. I have not studied modern macro economics, but this is my sense of where we in the US are in terms of economics. 1. The top two percent have greater income and assets than they can ever spend. 2. The top ten percent have to budget, but basically they can do everything and buy anything they want (eg may not be a yacht but small boat, etc.) 3. The top 25 percent are living the American dream (house, vacations, maybe a second home, private schools - perhaps a parochial school, etc). 4. The next 25 percent are probably doing okay but if they lose their job or business, they are in deep doo doo). 5. Just as a speculative example I would use three people on this thread as a barometer (a reference point so to speak) the moderator, the progressive professor, and the California school teacher) are all in the top ten percentile. That is just a WAG. 6. The bottom half of our society is not in good shape. But basically we are not a Mickey Mouse country. Our people are hard working even people who are currently not employed - they would be hard working if given the chance. Most people are not free loaders. Most people try to live within their means (they don't shop at and have credit at Tiffany's). Of course we have criminals but basically we are not a criminal society. We don't live beyond our means but Ronald Reagan and George W. Bush have structured our economic system in a way that put many of our people in an economic bind. Instead of correcting what they did, there are people now either lecturing to us and or are trying to continue the policies that got go us into this situation. There are those playing the blame the victim game. They spent too much, they eat too much they bought things they couldn't afford, etc, etc. My main point is this: Based on our resources, our basic sense of values, we have sufficient wealth to sustain a high standard of living for most and a dignified standard of living for everyone.