I am just going from memory here, but I seem to remember that the reparations that were required from Germany for the 1st world war were so high that they bankrupted the German economy, and brought down the Democratic German Government and then Hitler (who was a talk show host) gained prominence as the catspaw of Tyssen Steel who subsidized radios so that the populous could listen to the Rush Limbaugh of the day . Tyssen of TyssenKrupt fame, and IG Farbin. Prescott Bush's German Company, a subsidiary of Standard Oil, who owned a little wholly owned subsidiary that made chemicals and aviation gas out of coal mined by slave labor, named IG Auschwitz. Private Industry influenced government.
Why don't you drive down to your local hospital and donate some of your time and stop wasting it sounding like a pomous arrogant asshole on elite-fucking-trader.
you picked the wrong time to say that dumb fuck already donated 10 hours of my time in the last 2 weeks while u can fuck around and fail like the rest of them and i still probably make 5x what your dumb ass does so STFU and get back to making me a fucking tuna melt bitch
If you do then why do you say ignorant things about people who happen to fall on hard times through no fault of their own? I find it hard to believe that you donate your time with the left hand and deliver 20 lashes with the right. And you don't know the first thing about me to assume you make 5x what I make and I can assure you I don't make tuna melts
100 years ago people like you were bemoaning the loss of jobs caused by factory automation. Strangely, despite a century of relentless technological progress and the destruction of obsolete jobs that are now done more efficiently by machines, the long-term unemployment rate did not soar as the luddites predicted. Doesn't that give you pause for thought? I'm interested, have you read much about the economics of trade? Comments like yours are pretty much the financial equivalent of going to a doctors' conference, telling them that antibiotics don't work, and advocating a return to the days of using blood-letting and leeches. Why not educate yourself on the subject? It would take a bit of effort but you'd have a much better understanding and could then see the obvious fallacies and oversights you're guilty of.
I don't see anything in Misthos' post that appears fallacious. He's spot on. Things were quite different one-hundred years ago as there was far less competition. Today, a baby born in America is going to have a rough time earning a livable wage unless he/she plans on becoming a doctor.
100 years ago the world population was a lot less than it is now, and technology barely replaced manual labor. 90% of the world 100 years ago was living the same way people lived 300 years ago. True de-industrialization in the US accelerated in the late 1960s and early 70s. So... global trade kool-aid drinker are you? You think it was wise introducing 4 Billion people into the global marketplace from Asia that are willing slaves? That will work for one dollar a day and take shit from their government? That will put up with their kids getting cancer at ten years old because the factory in town doesn't have to comply with the environmental laws the Western countries have? You want our middle-lower classes competing with that? Oh wait... we can outsource all those jobs because we're "smart." We'll replace those lost jobs by creating an asset based debt driven economy and tap on computer keys all day. Instead of factory lines, we'll have our people working in seas of cubicles. We'll have lawyers, paralegals, secretaries, insurance salespeople, mortgage lenders, loan processors, title companies, real estate agents, data entry, typists, stock brokers, credit card customer service reps, etc... But here's the problem. When the debt based monetary system expands beyond incomes... what happens to asset values? And if asset values collapse because of debt defaults, what happens to many of those jobs I listed above? You're one of those pie-in-the-sky believers in the "new" economy aren't you? Open your eyes.... it's collapsing and now we're importing the poverty of India and China. We have lost many of the "fluff" jobs created by the dotcom "new economy" and the jobs of the debt based asset value economy - the Finance Insurance Real Estate (FIRE) economy. NOW WE HAVE NEITHER THOSE JOBS OR THE OLD MANUFACTURING JOBS. WE PISSED IT ALL AWAY. By sending those older manufacturing jobs abroad, we basically exported labor and imported poverty from India and China and Vietnam, etc... How's that kool aid taste? Take another chug. Looks to me like you don't like to deal with reality.
It is the same underlying factor, that is a problem in Education and the workforce as that which was linked to the Home Bust. Too many Universities lowered admission standards to inflate their bottom line of "MAKING MONEY"! The financial world hired far to many "Paper Pushers" during the "BULL from 99 into the cheap money erra. More Prop shop trading firms, more Lending Brokers, more car salesmen, more RE SALES.....the list goes on and on and on. Now the the bubble has popped, and getting back to Normal Unemployment is going to be a long long road. I don't think we will see 4% unemployment ever again. Maybe 7% or 6% will be the norm. also, take into the account of all the NAFTA job shifts and soon to be flood of companies leaving the US under the OBAMA administration if it reaches for the "TAX" button on all producers. Get use to high unemployment and a lot of "Educated" people working at Starbucks.
By sending those older manufacturing jobs abroad, we basically exported labor and imported poverty from India and China and Vietnam, etc... How's that kool aid taste? Take another chug. Looks to me like you don't like to deal with reality. _________________________________________________ BINGO! Let those Obama Knows folks eat their own shit sandwich. However, the Republican's have to fight for Manufacturing in this country and move away, far away from NAFTA. Otherwise, build you wall, post your 50 cals. and move your ass to Texas as it is the strongest Economy in the US......unless Obamanation pass the cap and trade....then TEXAS will be its own country.