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View Diary: "Unprecedented prosperity" (248 comments)

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  •  Wealth is measured in terms of time we are poor (4+ / 0-)

    ...very poor.

    Thank you Jerome for highlighting this fact.

    We work more and get less.  Our cost and risk exposure is at an all time high as well.

    Average Americans cannot save and build because of that cost and risk.

    The only way to fix that equation is to either:

    -go off and fight about it

    -start building things; anything really and it doesn't matter as long as the product of the labor is something of value,

    -sell off more of the nation to balance the debt.

    Of those three, only the building of things, the making of things, promises to bring us out of this whole, free and competitive.

    I really can't stand supply siders.  Not at all.

    Free Markets Do Not Exist; Free Market Supporters Value Money Over People.

    by potatohead on Fri Sep 11, 2009 at 07:49:07 AM PDT

    •  "We work more and get less" (1+ / 0-)
      Recommended by:
      greenearth

      The financial press calls that "increasing productivity".

      •  What should happen is more value created per (1+ / 0-)
        Recommended by:
        greenearth

        hour worked, resulting in higher wages over time as a reward for the successful execution of the wealth equation:

        Wealth = innovation applied to labor over time.

        Asses.

        And the thing that just kills me is most any middle school to high school student can understand that --if it was taught, like it was at my school.

        Now this is NOT taught.  None of my kids ever saw that simple relationship, and don't understand anything but supply sider ideas.

        It's very frustrating as a parent to have to go and explain this over and over, knowing it's likely futile as everything they see is framed in terms of this shit.

        What they call "increasing productivity" is actually over exploitation twisted in some Orwellian way to somehow justify it.

        Free Markets Do Not Exist; Free Market Supporters Value Money Over People.

        by potatohead on Fri Sep 11, 2009 at 09:04:25 AM PDT

        [ Parent ]

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