The Economy In About 2 Minutes.

It’s probably a bit facile to say one could understand the reasons for the problems in the US economy in under three minutes, but Robert Reich does a nice job of supplying the basic starting points for research.

Check it out.

7 thoughts on “The Economy In About 2 Minutes.

  1. I saw that a couple of days ago. Most of it has been that simple for quite some time, and the “real” Americans have been buying the bullshit the rich have been telling them for awhile now. The thing that drove me crazy was in the last presidential election, that whole business of “we” need to drill here and Congress had to let “us” drill. Us? We? Big Oil is not we or us and, like every rich person, huge company or industry, does not necessarily have the interests of the US and its citizens at heart. Tax cuts to rich people and companies does not mean they’ll magically create jobs or stimulate the economy by spending via trickle down economics. They horde, often in offshore accounts and spend outside of the US and/or on non-American made products.

    There’s a new ad attacking Gov. Christie airing now showing how his cabinet is made of millionaires, his friends are millionaires, he’s a millionaire, and that his tax breaks for himself and his friends are killing NJ.

  2. Indeed… it’s so amusing that conservative, average Americans (in terms of income), buy into the Right Wing rhetoric – as if it somehow benefits THEM and their families. This is so much like religious beliefs and no small coincidence that so many lower income conservative Americans are…. you guessed it…. “good, god-fearing people”. You know – morons.

    • The ability of the politicians to persuade the voters to vote AGAINST their best interests always amazes me. If one thing, you have to give them credit for That. They are good at taking advantage of the gullible. You’re right. There is no coincidence that the right wing of the Republican party is both pro-corporation and fundamentalist Christian. They go hand in hand. Complete and utter blind faith is necessary for both.

  3. Big Oil is not we or us and, like every rich person, huge company or industry, does not necessarily have the interests of the US and its citizens at heart.

    Actually, Big Oil is not we or us and, like every rich person, huge company or industry, does not have the interests of the US and its citizens at heart. FTFY. 😉

  4. What has happened to “the economy” has been in the works for a long time, I actually read about the “plan” in 1973.
    In that same time period in a section of Time magazine there was even some commentary that the big selling job was going to be to convince the public that they must have less simply so that business could have more.
    Royko, Buchwald, and a few others wrote columns about this “new” economic model being talked about. They tried to be humerous, but no one laughed who actually paid attention.

    Again, the cultural indoctrination has worked. People are, in an orderly fashion, allowing themselves to be divested of almost every vestige of actual, meaningful citizenship, but they still, as Mencken put it, think of themselves as “millionaires-in-waiting”. So, they live by the slogan and platitude, they do the “Napoleon” role in “Animal Farm” and will reap the same result.
    Problem is, the “opposition” doesn’t really offer them anything, either, really.

  5. Problem is, the “opposition” doesn’t really offer them anything, either, really.

    Evo mentioned once that there is only one political party – the Corporate Party – with two wings, the Republican and the Democratic. The only difference between the two are cultural, and hence, from a political POV, meaningless and irrelevant.

    • I play at a lot of social gatherings of the party “elites”, and I have noticed certain people besides me who seem to attend both. These people always have a check handy.
      Plus, as we are of an age, do you remember when George Wallace simply shrugged over the R & D s and what they represented, said there wasn’t a “dimes worth of difference” between them?
      But the real political reality was indicated when Cheney was informed by a shouting reporter that certain policies weren’t wanted by the public.
      His succinct response, turning on his heel, giving that angry, belligerent glare, and uttering the single syllable: “So”? displayed the whole thing.
      The fix is in no matter who you select. There was a whole lot of truth to the “Simpsons” cartoon which spoofed the Dole/Clinton election.

      But, the economics… I live in Altoona, which (hard to believe) was, in living memory, once the cultural and economic peer of San Francisco, Seattle, and some other notable places.
      You can guess, the glory days are long gone.
      I was sitting in the VA in the oncology clinic to get more bad news, and I always listen to what’s being said around me. Very interesting sometimes.
      Heard the usual: how great it was that bin Laden had been assasinated, who should be next on the list (Kaddafi seemed to place prominently), how much they hated the “liberals” and Obama (seems to me he’s another “great” republican president, simply a more personable, articulate, intelligent, melanistic Reagan/BushBush. Just as ruthless and “pragmatic”, but with a lot more finess and polish) and two WWII vets were talking about “The Economy”.

      One of the men had been lucky and worked in “The Shops” after he quit school, one had another trade, had run his own business.
      The one who’d had his own business said that he’d bummed, rode the rods before WWII, had known times when he literally didn’t have the nickel or dime for a single cup of coffee. Not a piece of small change to bless himself with, or swig some bitter, over-boiled herbal drink.
      He said that during WWII he actually got money, afterward he’d started his own business, and did very well, No matter how broke he had ever been during his ups and downs, there was never a time that he didn’t have enough in his pocket that he couldn’t go into an eatery and get something to eat and drink.
      He figured he’d been set for kife.
      But in the last five years he actually thought about what he would do with his money, He had enough for the coffee, but he really couldn’t afford it. He’d need it more for something else, couldn’t have both like was once the case.

      There was a TV on, and they were giving economic news reports, and I thought for a bit.
      We were all in the oncology waiting room, under treatment for a part of ourselves which was once essential but had decided at some level to look out for itself, expand, and draw resources from the rest of the body with no thought for the consequenses.
      Just expansion and consumption for its own sake.
      Take until there is no more to take. It’s what this process does. No more, no less.

      And I got the feeling that I was watching its societal analogue being discussed as they spoke of markets, corporations, etc.
      But there was no cure or curb being discussed for what was gnawing away at the body of our society. It was sacred, and to be left alone, viewed with awe until it’ had nothing to shove in it’s maw.

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