Moral Outrage
Whew! God help us!

The U.S. Experiencing the Perfect Economic Storm

Robert Reich, former labor secretary during the Clinton administration, writes that the country is being threatened by what he calls a “perfect storm.”

The wind is blowing from three directions: The rich keep getting richer, with the top 0.1 percent of income earners making more money than the 120 million people at the bottom of the income scale. The rich are buying the elections. And meanwhile, the government is not helping the poor, and in fact is telling them: There’s no money left for you.

All of this is making radicals more vocal. “I think what we’re seeing now in America is an outbreak of isolationism, nativism and xenophobia,” Reich says, pointing toward animosity toward immigrants, accusations against China and growing skepticism of foreign trade.

“The US economy has been losing momentum for the last decade,” adds Edmund Phelps, winner of the 2006 Nobel Prize for economics.

According to Phelps, the US economy has undergone structural change as companies are dominated by investors interested only in the kinds of quick and large profits that can be achieved by reducing the workforce. Almost 6 million jobs have been eliminated since 2000.

[Der Spiegel]

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One Response to “The U.S. Experiencing the Perfect Economic Storm”

  1. IF THERE ISN`T ENOUGH JOBS AND MONEY TO GO AROUND THEN LET THE RICH SIGN ON THE AMERICAN PUBLIC AS HEIRS TO THE MONOPOLY AND TO BE THE BENEFICIARIES OF THIS WELL LAIDOUT PLAN TO MAKE AMERICA RICH. LITERALLY FORCE THE MONEY TO GO TO THE PUBLIC SECTOR AND GIVE THEM THE BENEFITS OF BEING AMERICANS LIKE THE ISRAELI`S AND THE GERMANS DID. THAT WOULD PUT THE MONEY HOGS OUT OF BUSINESS. OR PUT THEM AT THE NEGOTIATING TABLES TO DETERMINE HOW MANY PEOPLE THEY COULD EMPLOY,INSURE AND RETIRE WITH A LUSH RETIREMENT AND FULL BENEFITS AS DO THESE THUGS. THEN WE WILL ALL GET ALONG AND THERE WONT BE ANYMORE BULLSHIT GOING ON WITH HOW AMERICA`S GOVERNMENT IS DOING. WE WILL BE SELF SUFFICIENT. WHICH IS NOT A BAD PLACE TO BE IN WHEN WE CONSIDER ALL THE PROMISES THAT THESE PEOPLE MADE TO THE GOVERNMENT AND THE LIES THEY TOLD TO GET THAT RICH.. ONLY GOD WILL HAVE THAT KIND OF POWER, FOR NO HUMAN BEING IS WORTHY OF THAT POWER. WE MURDERED THE ONLY PERSON WHO WAS EVER WORTH THAT AND THE RICH CAST LOTS FOR HIS ROBE.


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