Bloomberg: US Economy Resembles A "Third World Country"

Just like before the depression, there is plenty of money in the system.

And just like a deadly blood clot, it is concentrated in the top .1% or so.

The answer is to tax the rich.

Bloomberg does not give politically correct statements - but his correct in his assessment.....
http://thefiresidepost.com/2008/01/18/debtor-nation-and-deregulation-of-banking/

There's a difference between doing what's right, and doing what's profitable...

At least many third world countries have valuable commodities to sell. We've depleted many of ours, such as oil, and our capacity to produce farm commodities will be increasingly impacted by depletion of aquifers.

We'll be left with nothing to sell but waste such as cardboard.

Why was Bloomberg silent for seven years of Bush debt and crony capitalism?

Last year I was Time magazines person of the year, this year I am just a broke piece of shit. I need that "rebate", but I am with Bloomberg on this one. We can't afford it!
It's stupid! Lets fix the problems and get over all this "feel good" garbage that is "trickling down" upon us.

What we need is to borrow more to give more tax cuts, breaks, and subsidies to the ultrarich. We need to let people keep more of their own money.

So if our economy is resembling that of a "Third World Country" can someone explain why we continue to reward all the CEO's across the Nation?

Well he got one thing right. We are in a dive to a third would country on wages.

Bloomberg is right! We are sinking in the muck from Republican mismanagement. We do it every time they get into office. It's an orgy of military spending, wasting on pet projects and ignoring middle classed American's. But, Bush's stimulus package is the most asinine thing I have heard of recently. Should show the average American how much these whack jobs know about managing finances. He is borrowing how many billion from China to give us a rebate????? I know it never occurred to the man to stop his expensive wars in the middle east! That are destroying our economy, Army and ability to defend ourselves. Heaven forbid he should show a little intelligence and end it immediately.

The US economy mirrors the third world -- wasn't that what the Neocons were going for all along?

They've managed to engineer the drive to push the wage floor in the US down as far as it can go, like we're in a race to the bottom with Mexico -- that helps businesses with labor costs, right?

They've finessed yet another big bank bailout that makes the S & L meltdown during St. Ronnie's tenure look quaint in comparison -- which has only added to the burden taxpayers must assume, in addition to paying for never-ending defense contracting jobs in Iraq.

So, all in all, Wall Street has done a pretty good job of demonstrating what consummate assholes they are when it comes to "running" an economy!

Get a rope!!!

Thats right Blowberg; don't help poor people who may only lose their one piddly diddly 500,000$ house. No give money to those who truly need it, those in desperate straights, those who might have to sell one of their yachts, you know people like bankers and investors ,Realtors, politicians and arms dealers the "responsible people" members of the upper American society the people that caused this mess and are getting get thousands of millions of dollars right now!

Everything he is has said is patently obvious but thankfully someone of his stature has come to the party and said it. Now will the the Pelosi, the Reid and the not-so-right republicans, and anyone else with too much dough sit up and take notice. You can lean over the edge of the well once too often . There is an opportunity here that must not be ignored. As completely far out as this may sound - but can you imagine, without coming down with a pile of crappy comments, a ticket with mr Mayor Bloomberg as the running mate. Go back and read it again. Possible or not?

...misery waits in vague hotels to be a VICTIM....Eliane Elias.

Can't we all just take responsibility for our current effed up reality, instead of this continual stream of self pitying, victim mentality crap? We did it to ourselves with our own ugly, little, American Greed. Time to pay the piper, kiddies!

America is a third world country in many more ways than just the economy: rigged elections; an apathetic population; crumbling healthcare and educational systems; a culture that relies on the lowest common denominator. The list could go on and on.