Post Comment Preview Comment
To reply to a Comment: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
View All
Favorites
Recency  | 
Popularity
Page:  « First  ‹ Previous  1 2 3 4 5  Next ›  Last »  (71 total)
photo
humanbeing-rick
Born in the USA 1947
09:55 AM on 02/14/2012
Goldstein's defeatist attitude on America is due to his fervent ideological goal of a new world order, where the ultra-rich globalists control everything.
"The U.S. economy is transitioning to a new normal in which businesses invest less and consumers spend less" -- is a self-serving pronouncement that will help line his own pockets.
We can take back our former greatness with some reform and policy changes.
photo
HUFFPOST SUPER USER
Izzy66
Curb your Amygdala
09:59 AM on 02/14/2012
Sure. But do you see anyone in our government able to do reform and policy changes?

....thus the defeatist attitude.
This user has chosen to opt out of the Badges program
photo
08:01 AM on 02/14/2012
Reality is that people should of been prepared for an economic emergency and saved six months of their income. People should of realized that you cannot buy a house with no downpayment and count on everything to be hunkie-dorry. You always have to plan for crisis even if the crisis never happens.
This economic crisis is just a repetition of the 20's crash of the stock market on a global scale. Once nations compensate for their overspending (pay their debt) and realize that a balanced buget is a necessity the world economy will rebound. Individuals need to show their own responsibility, pay their own debts and quit envying those that are capable of making more money than others. There will always be someone who earns more, grows more, eats more, laughs more, grow up and quit your gripping!
This user has chosen to opt out of the Badges program
09:51 AM on 02/14/2012
Workers' share of national income has been decreasing since at least 2001, which makes it hard to save...

http://www.nytimes.com/2006/08/28/business/28wages.html
Real Wages Fail to Match a Rise in Productivity - New York Times

"...In another recent report on the boom in profits, economists at Goldman Sachs wrote, “The most important contributor to higher profit margins over the past five years has been a decline in labor’s share of national income.” ..."

Now U.S. workers' share of national income is at an all-time low:

http://research.stlouisfed.org/fred2/series/PRS85006173
FRED« Nonfarm Business Sector: Labor Share

While corporate profits are increasing:

http://research.stlouisfed.org/fred2/series/CP
FRED« Corporate Profits After Tax

Mainly because of reduced wages and benefits:

"JPMorgan’s July 11 “Eye on the Market” newsletter put it, “Reductions in wages and benefits explain the majority of the net improvement in [profit] margins… US labor compensation is now at a 50-year low relative to both company sales and US GDP.”
HUFFPOST SUPER USER
Carl Caroli
I just don't understand people
08:00 AM on 02/14/2012
Yes, experts have done so well in predicting what has happened thus far, we need to listen carefully to their sage advice. Then go see Madam Marie for the real deal.
07:48 AM on 02/14/2012
Consume(especially eat) less, people - it's not gonna _kill_ ya.
HUFFPOST SUPER USER
Nick Tarlton
06:09 AM on 02/14/2012
What I found interesting that we already knew was that employee wages have actually fallen when compared to inflation. How do you expect and economy that is based on 2/3 consumer spending to survive when wealthy are sucking up all the money in the economy. It was bound to happen. We are repeating history here. During the Great Depression or just before Income inequality was at an all time high and companies were in control of our government. Smart policies were put into effect to stop the control of government by corporations, regulations were put into place that stopped banks from gambling people's money yet we erased all those protections. Combine all this with a new world economy and it spells disaster. Demand has to increase, but in order for that to increase the consumers have to have money to spend.
photo
HUFFPOST SUPER USER
RedDog79
09:48 AM on 02/14/2012
We actually make less per hour - minimum wage - than we did in the 60s.
photo
runswithscissors
Hobson's Choice ≠ Free Will
11:42 AM on 02/14/2012
"How do you expect and economy that is based on 2/3 consumer spending to survive when wealthy are sucking up all the money in the economy. It was bound to happen."

New financial innovations which act as short term solutions but in the long term only exacerbate the problem. The obvious one is credit, which bridged the disequilibrium and made it possible for rising demand and falling wages to coexist. But that well is all dried up. There will be another though, and people will once again be easily herded to an even shakier financial future for slight short-term gains.
photo
bdgrizcp
Fan of Clanthus
02:55 AM on 02/14/2012
We overspent, overbuilt, overborrowed (on anything of value). When the bottom fell out, we pulled back but not quite fast enough. Our population is aging quickly, and older people tend to spend less (even if they have the money). And if all of that wasn't bad enough, the big three items that the middle class relies on for retirement (housing equity, investment income, retirement benefits) are all losing value or are under pressure. Talk about getting your shoes squeezed! For those who got bumped out of high value jobs, the replacement jobs are typical of what you'd expect in a buyer's market: lower pay, less benefits. We've replaced the middle class with a new two-tiered system: those who work for money and those for whom money works. Good luck with the new normal.
This user has chosen to opt out of the Badges program
photo
02:05 AM on 02/14/2012
It might not be such a bad thing. If we start to value quality over quanity and cheap goods, I'd be all for that way of life. We'll see. It can all change on a dime so I never pay much attention to the prophets.
02:01 AM on 02/14/2012
Freedom is available by appointement only
This user has chosen to opt out of the Badges program
01:54 AM on 02/14/2012
http://www.commondreams.org/views04/0929-04.htm
Rethinking Free Trade

"by Robert Kuttner

WHEN PAUL Samuelson, the dean of American economists­, begins questionin­g the benefits of free trade, it is a bit like the pope having doubts about the virgin birth. But Samuelson, a Nobel laureate and the author of America's best-known economics textbook, has reopened a debate on the most settled issue in economics. He's done it with a stunner of an article in the Journal of Economic Perspectiv­es that has created immense controvers­y -- and an opportunit­y for Americans to rethink previously unchalleng­ed assumption­s.

[snip]

But here Samuelson dissents. What if the lower-wage country also captures the advanced industry?

If enough higher-pay­ing jobs are lost by American workers to outsourcin­g, he calculates­, then the gain from the cheaper prices may not compensate for the loss in US purchasing power. In other words, the low wages at Wal-Mart do not necessaril­y make up for their bargain prices.

"Free trade is not always a win-win situation,­" Samuelson concludes. It is particular­ly a problem, he says, in a world where large countries with far lower wages, such as India and China, are increasing­ly able to make almost any product or offer almost any service performed
in the United States.

If we trade freely with them, then the powerful drag of their far lower wages will begin dragging down our average wages..."
This user has chosen to opt out of the Badges program
photo
02:07 AM on 02/14/2012
Is this news? Honest question.
This user has chosen to opt out of the Badges program
02:18 AM on 02/14/2012
For someone with an economics background, no.

I have a followup post.
This user has chosen to opt out of the Badges program
02:19 AM on 02/14/2012
Re: "any product"...

http://www.flightglobal.com/articles/2010/11/05/349329/china-special-c919-update.html
CHINA SPECIAL: C919 update

"...CFM Internatio­nal Providing the Leap-X1C engine that will power the aircraft. Has signed agreement with AVIC's Commercial Aircraft Engine to study the feasibilit­y of an assembly line and engine test facility in China.

GE Aviation Supplying the core processing system, cockpit display systems, on-board maintenanc­e systems and flight recorders with partner AVIC Systems.

Rockwell Collins Supplying the communicat­ion, navigation and surveillan­ce systems on the C919, as well as the in-flight entertainm­ent system and cabin core system. It is doing the work with Chinese partners China Electronic­s Technology Avionics (part of state-owne­d China Electronic­s Technology group), AVIC's China Leihua Electronic Technology Research Institute and AVIC's Shanghai Aero Measuremen­t-Controll­ing Research Institute.

Honeywell Providing fly-by-wir­e flight control system, inertial reference and air data systems, auxiliary power unit, wheels and brakes. It is partnering China's Flight Automatic Control Research Institute, Hunan Boyun New Materials and Changsha Xinhang Wheel and Brake.

Parker Aerospace Supplying the aircraft's hydraulics system, flight control actuation and fuel tank systems in partnershi­p with AVIC Systems.

Liebherr-A­erospace Providing the landing gear and air management systems through partnershi­ps with AVIC's landing gear manufactur­ing subsidiary in Changsha and Nanjing Engineerin­g Institute of Aircraft Systems.

Eaton Supplying the fuel and hydraulic conveyance systems, cockpit panel assemblies and dimming control system..."
01:54 AM on 02/14/2012
RothRedChild is worth $ 500 Trillion dollars
1/2 of the worlds total wealth
ByAndForThePeople
and corporations aren't people!
05:18 AM on 02/14/2012
What the hell are you talking about?
10:01 AM on 02/14/2012
Who do you think is going to take you seriously if you are touting a conspiracy theory?
01:32 AM on 02/14/2012
When Obama was elected, there was a clergyman who said
" Chikens are comming to roost "
a lot of people right here in HP critisized him for being AnAmerican
So, I guess being underwater is American now ?
There was also another man who said the Earth was round
the know the rest of that story
09:27 AM on 02/14/2012
I refuse to listen to a guy who can't even spell "chicken."
photo
HUFFPOST SUPER USER
NanJac
01:29 AM on 02/14/2012
All my bills have gone up from food to health insurance......my income has not increased. Everytime I go shopping there is a rise in prices....if the price of a can of green beans hasn't up, the size has gotten smaller. How can spend more, when I have less to spend on any kind of luxury item. Most people are buying only what they need, because the money isn't there for anything else. Somebody is making money and a lot of it.....CEO's and other people in high ranking postions.'' GREED is what AMERICA a different kind of country, we once knew.

\
photo
HUFFPOST SUPER USER
Chucky Sly
Pass it pon de left hand side...
01:26 AM on 02/14/2012
That's what happens when you concentrate all of the nation's money in the hands of a select few.
Go figure.
This user has chosen to opt out of the Badges program
photo
01:14 AM on 02/14/2012
I checked my bills from last year, I used less natural gas, less electric this year,and my bills were higher. I am no longer afford to drive as my car insurance here in Michigan has gone up every 6 months.My rates are determined by my income, location, education, if I have health insuramce and my credit score. Unfortunately I don't have a job or health insurance, so I am penalized for this, even though I have nnever had a ticket and have always paid my bills on time. Why is it that all my information is at the disposal of just about anyone(corporations). Why is my entire life determined by a banks credit score of me. How was this allowed to happen and why does'nt anyone care? Everyone talks about privacy, but there is no such thing. It is now almost impossible for me, and others I know to get out of this cycle. This does not even take into account, the rise in prices on almost everything else like rent, food, gasoline,medical care,drivers license fees, car registration, household expenses and clothing. It seems like there is a deliberate effort on the part of those in charge to eliminate an entire segment of the population.
01:37 AM on 02/14/2012
' I wonder what I'll do with all that " freedom "
it's darn expensif
I hear rich people get their freedom candy wrapped
01:14 AM on 02/14/2012
U.S. markets buoyed as Greek government enacts austerity legislation
http://www.australiannews.net/story/203461549/ht/US-markets-buoyed-as-Greek-government-enacts-austerity-legislation

Conservatives Are Gunning for Eric Holder
http://motherjones.com/politics/2011/12/why-republicans-are-gunning-eric-holder-operation-fast-furious
Obama eliminated Osama and Kadaffi
Total Assets of the U.S. Economy $188 Trillion, 13.4xGDP Under Obama's Administration
http://rutledgecapital.com/2009/05/24/total-assets-of-the-us-economy-188-trillion-134xgdp/