I don't think that it matters whether the jobs are overseas or here in America or whether products are made here or in America. The situation doesn't change in the slightest because the wealth will still be disproportionately spread. There are many protesters who have jobs but want more money. Bringing remedial jobs back into this country means more people will make minimum wage but the rich will still be rich and the poor will still be poor.
I think this is another issue too. When people create corporations, they don't do it to support Americans or to create jobs... those are issues for the government. People create corporations primarily to make money. So when someone comes and says, "Hey this isn't right, you are making a lot of money" it seems pretty obvious that this was the whole point of the corporation from the onset. By asking a corporation to spread wealth or distribute money evenly, you are asking them to run inefficiently based on what they know they can make normally.
I agree that the average American has an embarrassing amount of financial knowledge and have their priorities out of order, but again, this is asking the average consumer to spend more for the sake of the country. Either the products made will cost more because Corporations have to pay more money to workers than if they were outsourced, or the Government will have to put tariffs on competing goods so that everything is expensive or will have to pay the corporations with public money via a subsidy.
People make money to spend on their own individual wants and needs, not for the greater good of a country. *insert discussion about the Invisible hand of the economy here* That is why I think that the idea of paying more to buy America will fail whenever it is brought up.
To avoid anarchy lol. Seriously though, people are just as uneducated about politics as they are with finance. And when the general public gets caught in gossip, irrelevant tidbits and silly catch phrases instead of learning about the real issues, is there any wonder that we are in the situation that we are in?
Last edited by Bermudan Option; October 17th, 2011 at 04:58 PM.
Lol @ craziness for a while. That sounds like a bit of an understatement personally. Insolvent banks brings economies to an immediate halt and the Great Depression was not craziness 'for a while'. Do you think that it is fiscally irresponsible to let the world burn to prove a lesson to a few overzealous bankers?
It is not as simple as 'bad banks gone, new banks take over'. It is bad banks gone -> everyone with money in those banks is now poor -> rush on remaining banks that were not involved -> mass chaos -> anarchy ->????
So is there something against wanting to make money? How about to become rich? Are you suggesting that everyone should earn the same amount of money? I am intrigued and would like to know how the capitalistic foundations that the country was built on is suddenly terrible.
Corporations are not evil. They are the separation of legal responsibility from person and business. Corner shops can have corporate licenses. The pursuit of money to make a living is not a bad thing.
Lol. I pray to God you never become a regulator. You are basically saying that the American dream of working hard and becoming rich is just greedy. Being financially rewarded for providing a service is what Capitalism is all about.
the great depression, or what i like to call the rubber band effect/market reset, led to arguably the biggest bull market ever? happened in the 80's aswell(where btw unemployment was higher).. no, i believe in the free market.. if you fail you fail... yuh, it could get really scary, but thats what risk is.. the govt shouldnt have their hand in on the free market.. to me the only thing the govt has ever done really well is our military, and lots of parts of that it is supported by the private sector.. (btw im not saying every decision we have made, war wise or intervention, but when the military does something wrong or right it generally gets the job done..)
dont believe anything you hear and only half of what you see
So you wouldn't mind suffering for 10 years if we have a bull market that lasts 20. What if you are 58 and that means you can't retire when you want to? What if you just had a baby and now it is impossible to save up for a college education thanks to the return on bonds because there is no growth expected for the next ten years? What if you are thinking of opening a business but can't get a loan because banks know that the next 10 years will be shit? There is so much cause and effect that you don't seem to be factoring into your response. It is not as simple as "if you fail, you fail". These are banks if they fail they are taking a hell of a lot of innocent people with them.
Sure, one can argue that this happened with the housing crisis, but I am relatively sure that the issue would have been magnified 10 fold if people woke up in 2007 and realized that they were completely broke and that there saving accounts were reset to 0. With the housing crisis, people got burned but how many of them were overleveraged? How many where trying to flip houses like they saw on tv? How many had all of their money invested in the house? There was a lot of errors made and people are paying the price. If banks were allowed to fail, people that made no errors at all will be fucked. That will lead to chaos.
I'm all for delayed gratification but I am glad that the people in power did not make the decision to roll the dice and let things get really scary. The government protected the population from unnecessary risk and shouldered the risk themselves. Of course there will always be critics who disagree and would rather they played Russian Roulette with our future but c'est la vie.
Last edited by Bermudan Option; October 17th, 2011 at 05:08 PM.
The following user says Thank You to Bermudan Option for this post:
So I walked over to Zuccotti Park/Wall Street area this weekend. I went there on Saturday when almost everyone had marched to Times square. Even then Zuccotti park was overflowing with protesters.
Not quite the arab spring, but still the protesters have a lot of energy and frustrations. They are smart, well educated. getting well organised, there is a medical clinic, enough food to feed 2,000 people a day. donations are starting to flow in, I read today, NYC occupy wall street has over 300k in their bank account.
I hope the movement lasts and grows, the 99% of us need a voice!
Occupy Wall Street is leaderless resistance movement with people of many colors, genders and political persuasions. The one thing we all have in common is that We Are The 99% that will no longer tolerate the greed and corruption of the 1%. We are using the revolutionary Arab Spring tactic to achieve our ends and encourage the use of nonviolence to maximize the safety of all participants.