http://www.nytimes.com/2010/09/03/opinion/03reich.html?_r=2&ref=opinion&pagewanted=all
Great article in the Ny Times about what must be done to end the great recession. It mentions the true cause of the recession as the growing disparity between the ultra wealthy, and everyone else. The first fact it points out: "Even if nearly everyone was employed, the vast middle class still wouldnt have enough money to buy what the economy is capable of producing. " The next question would be Why. The answer is because the economic gains did not go back to the middle class and the general folk, the economic gains went primarily to the ultra wealthy. "In the late 1970s, the richest 1 percent of American families took in about 9 percent of the nations total income; by 2007, the top 1 percent took in 23.5 percent of total income. " So what is the problem with the rich getting more money? "The rich spend a much smaller proportion of their incomes than the rest of us. So when they get a disproportionate share of total income, the economy is robbed of the demand it needs to keep growing and creating jobs. " What is the end result of all this? What is the solution? "THE Great Depression and its aftermath demonstrate that there is only one way back to full recovery: through more widely shared prosperity. " And as we all know, that is not going to happen. So it seems that we're screwed. This article focuses on America, but it is true for the Caribbean, and the larger countries in South America as well. The toxicity of the American economy and the lack of ability for consumers to pay will also invariably affect Europe and the rest of the world as well. Of course, the article also assumes that the economic system that we created is to be maintained, and does not delve into alternate economic metrics which do not involve a Consumerist driven system of constantly purchasing new goods and services for surviva ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:326917 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
