Corporate outsourcing from 2000-2010 kept wages flat for an entire decade, even as inflation ticked away every year, eroding the standard of living of the entire middle class. Obama responded with the tools of an old-school liberal - huge deficits, monetized debt, tax increases. A well-intentioned but ultimately self-defeating strategy at a time when the dollar is under such tremendous pressure because of our long-term structural deficits. Republicans have an equally self-defeating strategy in play right now - slash public benefits and lower taxes in an attempt to close the deficit and spur private investment. Those dollars are not going to be invested in the US for the simple reason that there are better opportunities around the world right now, and that will probably continue to be the case for some decades.
The social contract between the rich and everyone else has been broken. The social contract between older generations and younger generations has been broken. All hell could break loose sometime before the end of 2012. On Tue, Apr 19, 2011 at 7:49 AM, Sam <[email protected]> wrote: > > You mean 2008 -2011 > The new ruler has failed. > S&P has stated that as plain as can be. > > Oh, and there was never a surplus. > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:336416 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
