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Third World America?
Arianna
Huffington was interviewed on Tech Ticker on Wednesday discussing America's
shrinking middle class:
In a Wall
Street Journal op-ed today, former “Car Czar” Steve Rattner, a
multi-millionaire from decades as an investment banker, says Wall Street
is ignorant to the dangers of America’s growing wealth disparity.Rattner
rattles off some shocking stats in the piece:
- -- “Incomes
of the average American worker (after adjustment for inflation) was
lower in 2008 (let alone 2009) than it was in 1999.”- --
"30,000 Americans command a full 6% of income in this country (a higher
percentage than at even the end of the Roaring '20s)"Tech
Ticker discussed the growing income divide with Arianna Huffington,
co-founder and editor in chief of The Huffington Post.
“We
are in danger of becoming an America with a rich and the poor,"
Huffington tells Aaron in this clip, taped at Tuesday’s CM Summit in New York City. "And at the
heart of America has always been a middle class,” the erosion of which
threatens to upset our democracy, she says.
At the heart of the problem is high unemployment. The broadest
measure of unemployment (U6) stands at 16.6% and a record 46% of
America's unemployed have been out of work 6 months or longer.
Because
of that “the American dream has been reduced to luck… and the odds
right now are against people,” notes Huffington, author
of several books, including the forthcoming "Third World America".
But we are not hopeless or helpless, she
says: “There’s a lot we can do both at the government level and at the
individual level.”
In an update on the old "think global, act
local" campaign of the greens, Huffington promotes getting involved in
local causes, be it working in a food kitchen, unemployed white collar
workers volunteering their skills, or trying to start a business.
But
income inequality isn't just an American problem, it's pretty much a
global problem. Nowhere is poverty growing more rapidly than among
elderly population, and the problem is getting worse. Consider this:
- Fewer
than half of Canadians approaching retirement age have an income
strategy in place, and two thirds haven’t considered the possibility
that they could outlive their savings, according
to a report by the BMO Retirement Institute. - In the UK,
pension savers could be facing a bleak retirement, that’s
the message from pension specialist Partnership. According to
Partnership, nine in every 10 pension savers retiring in the last five
years had less than £50,000 and eight in 10 had less than £30,000 saved
up.
As you listen to the interview below, you get a sense that
we're heading down the wrong path. When foreclosure lawyers are busier
than manufacturers, it's the sign of a sick economy. And while
fundamentals are improving, serious long-term structural issues remain.
Pension poverty is one of the issues that far too many will struggle
with. Wonder if it will be discussed at the G-20 (don't hold your
breath).
»
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Yep and the press doesnt support a movement by and of the people. Instead they label something bad so they can navigate around it. It is totally BS.
And as we peacefully demonstrate (and clean up after ourselves) The Tea Party movement is getting down to work at local levels. Tea Bagging rascists such as myself are spending their weekends reaching out to diverse communities filled with conservative people of all color who just don't vote that way (RagingElephants.org). There are no "leaders" in this movement per se, it's a state of mind and people are finding hundreds of ways they can get involved (homemakersforAmerica.org Precintproject.org Goooh.org etc). Find one and plug in! Long live Rick Santelli!!!
(and clean up after ourselves) imho, the most potent action you've all undertaken so far (that's a compliment btw). now if you can find some creative uses for that trash, you might be able to win some new hearts & minds.
uh-huh
And while fundamentals are improving...you keep saying that, and yet for the generation you are writing about, they aren't and never will. The subsequent generation is in no better shape and the likelihood of benefit cuts is high and rising.
What's Ariana's solution?
This is hardly news. Anyone remember that decade before the bonanza of looting the former communist countries of their prime assets and human capital?
South Bronx, 1980s: http://forum.skyscraperpage.com/showthread.php?t=153781
Russia also had quite a lot of improving fundamentals in the 1990s... if you were fundamentally opposed to anyone stopping you from looting, that is.
The US and others are becoming third world but fundamentals are improving? You are a logical genius, a waste of time. I promise never to respond again to anything you post and encourage others not to respond to your bullshit because it only encourages you as you are impervious to logic or facts that contradict you positions.
Walking contradiction partly truth and partly fiction.
http://www.youtube.com/watch?v=-qb4KHlQx5c&feature=related
!
Huffington is a Machiavellian, but at least I'm glad she's high up in the media ecosystem, so she's unlikely to advocate war to shore up the Greek government.
Crossing my fingers on that one.
Isn't HuffPo partly responsible for all this by selling the notion that
putting the economy in the hands of Dem Party operatives would solve
things?
She does a good liberal* shtick but she used to be a republican. In case you're not aware, she publishes this awful internet rag called the Huffington Post. Except for its liberal* slant, I can't see much difference between that and Rupert Murdoch's excrescences. Methinks I don't like her very much.
*Liberal is a word that used to mean free-market oriented, but now it seems to mean statist, the way some former republicans decide to become democrats.
If by Republican you mean RINO then yes she used to be a Republican, but since then is nothing more than Soros' progressive mouthpiece in the media.
She was "assigned" the left side of the media WWE game show event by the masters and she executes very well.
facts are facts... you people need to filter opinion and then it doesn't matter much the source
For those with the ability to see through the filters, I guess not.
2010 Liberal = "Where is my bag of free shit!"
So does this mean to buy the solars and is it still a generational opportunity on the tech stocks you spoke of a few days ago and a few percent higher.
When I saw the words "third world", I thought that would be with respect to our infrastructure, which is becoming more third world everyday. Potholes in the roads, electricity blackouts every time it sprinkles, sewage backing up in the basement, no paint on the highways and streets, telephone system that goes down everytime lightning strikes, overcrowded airports and flights that are not on time, etc.
Arianna should be sending teams of reporters to our enemies France or China to see how they manage to have a modern infrastructure.
I thought third world meant Titan (2nd being Mars)
what's the housing starts on those two?
The fact that we can even discuss buying Chinese solars shows how absurd the "third world" label is.
It's a long way down to "third world": http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
Long as we got fillin' stations, TV & KFC we lead the world damn it! What else do ya all need?
I'm with you. Did Leo "Pollyanna" croak or what?
He had a "Wanger moment".
It is perfectly normal. I mean, it won't make you go blind or anything.
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