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| Bush’s plan for economy actually worked |
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| Written by Jim Hightower / Minuteman Media.org / | |
| Monday, 18 February 2008 | |
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A commentary on America's economic downturn by Jim Hightower.
At last, economists have discovered that America is tumbling
into a recession.
Of course, most Americans have known for months, if not
years, that the economy is already in a recession or even a depression. The
disconnect is that economists live on a different planet than we do. Ours is
Earth. Theirs seems to be Pluto, which might not even be a planet.
For economists, a “recession” is a clinical term defined as
two or more consecutive quarters of decline in the gross domestic product.
(This GDP is the total market value of goods and services produced within the
U.S. in a year.) For several years, America’s economy has been expanding, while
the incomes of the majority of people have been falling, but economists haven’t
cared. For them, the measure of a healthy economy is simple growth — not
whether we all benefit from it.
Meanwhile, back here on Earth, most people’s definition of
recession is personal, based on whether their income can keep up with their
out-go. Income has not been keeping up, because real wages have been declining
for more than five years. Thus, there’s been a spreading and deepening
“people’s recession.”
This mass economic decline has not been an accident. Washington
has worked with corporate chieftains to rig the rules on everything from labor
law to trade deals to hold down the incomes of the workaday majority, so the
rich have literally gotten richer at the expense of the rest of us.
When George W. Bush first ran for president, he was asked
what his economic plan might be. “We ought to make the pie higher,” he
answered. People laughed, thinking it was another of his verbal stumbles.
Seven years later, we can see that he was serious. His plan
was to put our national economic pie on the highest shelf, so only the elites
can reach it. Now that the economy is falling into an “official” recession to
go along with the unofficial one that ordinary folks have long been
experiencing, even the economists and politicians can see that Bush’s plan
worked just as he wanted.
Jim Hightower is a national radio commentator,
writer, public speaker, author and a columnist for Minuteman Media.org.
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(18)
snopes.com has an analysis of the quote ("..pie higher"). It really looks like one of the so-called Bush dyslexicons. Still, the broader problem of the lack of growth in real incomes except among the very wealthy and those with professional/PhD degrees over the past 30 years is problematic and needs more attention.
Tell me Mark what is your solution for income disparity?
Tod you appear to be a man of great intellect. What would your suggestion be?
Scott: First, I forgive you for your volatility and insults over the last few days. Discourse is discourse and some temperaments are more volatile than others. As for the economic situation, I should not really care too much because I do quite well, in general, being among the fortunate set:-) But there are some ideas that I consider worth considering: the first is that technological change has been instrumental in US ascendence as a great power and should be encouraged. To encourage technological change we need support of advanced education, tax relief for R&D, and funding for basic research (following Vannevar Bush's lead). Productivity enhancement through technological change is one of the few trends that appears significant when viewed through a parsimonious filter (Occam's Razor).
…
written by the mind of Mark Davis, middle of the night- February 18, 2008 and so Mr. Hurban, my being a card carrying member of the elite 'fortunate set' of academia intelligentsia, putting my discourse in laymen terms so even the most dull witted amongst you conservatives may divine, it is advantageous for the country (and by extension- my fortunate set livelihood) to fund R&D (NASA, DARPA etc.) for research, including uses by the military I abhor but I draw the line at sending the troops to countries like Iraq, Serbia (sorry, liberal fight, Clinton, good war) to clean out peaceful-get-someone-else-to-commit-suicide-Mike-Moore-hero-type-minutemen rodent nests (note to self: al-Qeada apparently does not know the fight is in Afghanistan, must contact any remaining ambulatory fighters left in Iraq requesting they immediately leave to setup back in Pakistan) where not only did we find no WMDs but should you be so forward as to make a request I shall supply you the verified dates Saddam gave my comrades upon discontinuing his weapons programs. cont
written by the mind of Mark Davis, middle of the night- February 18, 2008
but let me continue, Bush, the white ‘white monkey’ as so aptly identified by my college Tod Harold having ownership of the prescient canine, is fully aware of the past and current recession everyone has known about for the last 7 years caused by the bad rich conservatives stopping all growth of real income over the past 30 years and spare me, do not be fooled by the fact that the poor in this country own much more of their own air-conditioned 2-car homes with phone, TV, computer with internet access (along with iPods, cell phones, computer games etc.) than any other country at any time in the history of the world and even though you (Mr. Hurban) rise to my baiting it only shows the level of contempt I hold the right in general while noting that nothing good came of Reagan, Carter was not the worst President in known memory, Bush 1- mediocre at best, all hail god-Clinton…thank you for your attention… another moment, universal healthcare free-for-all no matter what it costs because the government pays for it. Is this thing off? That ought to hold them… For I, am Intellect Man, bringing my fractured, distorted, myopic knowledge to all meaningless unclean conservatives. Conservative response from Dale Cose Mr. Davis, thank’s for playing.
I actually enjoy Dale's occasional inputs and am not offended. It is moderately funny. I do actually make part of my living from government R&D that assists US military efforts (during the mid-90s I made almost all of my income from work for various parts of the government). To part ways on Dale's stereotype, though: to suggest I "abhor" the military is completely false or I wouldn't have worked for them and those who assist them. Having a nuanced view on individual conflicts is good patriotism.
Aside from the humor here, which is appreciated by me if by no one else in that it maintained an air of civility between both parties, I understand and somewhat agree with Mark’s comment.
I am wondering if we got into this financial mess because we started exporting $175 per day jobs to third world nations where those jobs only bring in an income of $10 per day with no restrictions on those industries, no health and safety standards for the workers and no substantial benefits for them. The demise of Holly Sugar was caused by exactly that. They were restricted by law from selling their product for more than it cost them to produce it and were regulated to death in favor of Caribbean and Central American sugar producers who could operate at a tenth of the cost without any restrictions and regulations and thus be able to manipulate the street price of sugar to the point where Holly Sugar could no longer survive on the meager subsidies granted it by the Feds. And shortly, the last sugar production plant located in the Central Valley, over in Madera, will be closing its doors for the very same reason. With barriers to business like this staring employers and manufacturers of America in the face, how can they possibly compete and how can they continue to pay for those jobs to be done by the American labor force? It seems all of our jobs are going off shore to areas where labor is cheaper and yet we wonder why our economy is faltering. If we as a nation don’t revitalize our production capabilities across the board and level the employment playing field, it won’t be long until none of us have jobs and then watch what happens to our economy. It’s not too late to turn all of this around, but it will be shortly if we collectively don't do something about it quickly.
One other note related to Dale's humorous ribbing: median family incomes have risen (hence all those neat things). The problem is that that growth has been almost all due to women entering the workforce and creating two-income families! So another way to grow the economy is clearly to send our children into the workforce :-)
Median income may have risen, after people were laid off, they used that fund from could have gone to workers before they were laid off, to raise income of competitive and most contributing employee. And they do not replace those who were laid off.
Improvement? Only for squatters, better pickings on foreclosed homes.
One other note for the specialist. NBER Working Paper 8359:
http://www.nber.org/digest/oct01/w8359.html
Not to sound off pie and despite the monlithic cerebral academiciism (it's my opinion), that Obama will win the Democratic primary and go-on to defeat McCain.
However, how does having a democratic president, prevent the out-sourcing of jobs, end the Iraq/Afghan war or boost the economy? Where's the Obama substantive solutions visual presentation aids? Since we're all being so civil...? Maybe we can use famous quotes and rhetorical speeches to talk ourselves into thinking everything's OK? Or the trickle-down wealth effect through extended social service programs and increased taxes? The burden still inevitably falls on top of the "middle class." As the previous comments and original commentator analysis have alluded to: Where's the pie chart? :-(
(cont.) While I give Hillary a hair in substance (I consider myself an indepedent moderate -which really stands for very little since Independent candidates don't have enough liquidity to flush into a two-party system), most military advisers will tell you that (female) foreign policy representatives are'nt taken particularly seriously -specifically in mesagonist countries whose their total GDP depends on ravaging and pilliging the neighbors or the wholesale exportation of terrorist(s) ideology. Hillary will evntually fall to a male candidate.
As many of you are aware the engine which drives the worlds' economy is U.S. consumer spending. However a majorative of America's GDP depends on wholesaling big ticket items. This is where I don't see Obama's inference. "One hall pass to the visual aids dept, please."
Mr. Vosburg, I am holding out hope that we still have enough people in this country that will not fall for Obamas pied piper campain. I cannot believe the number of people that follow him. Hope will not solve the problems we face as a nation. Facing facts and making tough decisions that may upset a lot of people is what we need, if those decisions are for the greater good of the nation. Give me the truth and not what you think I want to hear to make me feel all warm and fuzzy. I want a president, not a preacher. When I listen to Obama speak I get the sense he is either a hell of a salesman or downright delusional. Yep, that sounds like a preacher to me.
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Two recessions in two terms for Lil’ Bush, not bad for a dumb a**.
Lil Bush couldn’t run his own company let a lone this country. He must have been belligerent in the oval office the past 7 years.
I’m glad I never voted for that white monkey.