Take a good look where spending leads.

You can argue the why it happens (which I think is certainly open to debate). But at the end of the day, reckless spending, with a small percentage of people paying taxes, leads to no longer being able to afford spending. This, of course, leads to austerity when bills can't be paid. Austerity cuts bring people who contribute nothing to the streets (because their freebies go away). Then comes the blame, the division and who's fault it is. We're seeing the early blame game right now - It's all the fault of the Rich. They don't pay their fair share - despite a good portion of us paying a net nothing.

You folks on the left think you're dealing with an extreme section of the conservative movement in the Tea Party now? Wait until you see what happens to the country when the poor take to the streets and begin to accept more extremist views. I've said it all along, that is when dictators come to power.

Read what is going on in Greece.

http://www.reuters.com/article/2012/11/12/us-greece-crisis-dawn-idUSBRE8AB09F20121112

 

You still haven't figured out Greece. They cannot print their own currency, so they cannot manipulate variables like money supply, interest rates, and exchange rates. Thus, during a crisis, they are at the mercy of the (nascent) European central bank. Their situation is akin to a poor US state which was (and is still being) propped up financially by the federal government.

"Invest in Greece, it's booming!"
"Why is Greece booming?"
"Because of all the investments there!"

 

I've figured it out just fine, and I am aware of the "reserve currency" argument crap. YOU still think a country can devalue it's way to prosperity, despite no one ever succeeding at this in the history of the world. Whether people end up in the streets because they no longer get their welfare checks, or whether they are there because of a $15 loaf of bread and $18 gallons of gas is irrelevant. In once scenario, the payments stop. In the other scenario, the payments are next to worthless.

But the people still go to the streets and everything above comes to pass. Both paths lead to the same final destination!

 

My income is growing at a faster rate than inflation, isn't yours? What are you worried about?

 

The majority of Americans whose arent. I thought you were all about helping the poor.....

 

Ricter, how many people can say that? Try to be open and honest, please.

 

Ah, Max already said it.

Ricter continues to fight the "rentier" class, but that's only when he's not behaving like the rentier class.

 

I don't rent money for a living, I build and sell useful things. Don't you?

 

So we have unequal rates of income growth, but under the same rate of inflation. Hmm.

 

You don't have to rent money to exhibit characteristics of people who do.