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Goodbye, American Middle Class - 8/1/2010 12:42:24 PM

AnimusRex

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Final nail in the coffin of the American Dream- Financial Times articulates how the American middle class has withered and died over the past few decades, while the rich have prospered and grown fat.

On a related note, David Stockman, Reagan's Director of Management and Budget, discusses how the Republican party abandoned its principles of responsible finance and became the Santa Claus party of magical thinking on tax cuts and government ennabling of Wall Street:

Republicans used to believe that prosperity depended upon the regular balancing of accounts — in government, in international trade, on the ledgers of central banks and in the financial affairs of private households and businesses, too. But the new catechism, as practiced by Republican policymakers for decades now, has amounted to little more than money printing and deficit finance — vulgar Keynesianism robed in the ideological vestments of the prosperous classes.

This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.

The most striking thing about this is that the "New" Republicans- the Tea Party types- are actually pushing this madness further and more vociferously than ever- demanding tax cuts and endless wars whilehowling about deficits. The old-line Republicans who preached genuine fiscal conservatism have been purged in favor the cult of supply siders.

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RE: Goodbye, American Middle Class - 8/1/2010 8:32:20 PM

Marini

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I agree that the middle class is shrinking, faster than the shrinking woman.
I think that soon, you will either be "Upper Middle Class'', which means you are doing okay, and have at least a safety net, and "Lower Middle Class" which means you are about 2 paychecks away from being poor, and probably homeless. There is a real, thin, thin fine line between "Lower Middle Class" and "Lower Class".

What used to be solid Middle Class, will be one for the history books and Gone With the Wind.

< Message edited by Marini -- 8/1/2010 8:49:52 PM >

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RE: Goodbye, American Middle Class - 8/1/2010 9:16:37 PM

Musicmystery

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quote:

This approach has not simply made a mockery of traditional party ideals. It has also led to the serial financial bubbles and Wall Street depredations that have crippled our economy. More specifically, the new policy doctrines have caused four great deformations of the national economy, and modern Republicans have turned a blind eye to each one.

The most striking thing about this is that the "New" Republicans- the Tea Party types- are actually pushing this madness further and more vociferously than ever- demanding tax cuts and endless wars whilehowling about deficits. The old-line Republicans who preached genuine fiscal conservatism have been purged in favor the cult of supply siders.

Victor Frankenstein, meet your monster.

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RE: Goodbye, American Middle Class - 8/1/2010 9:20:58 PM

subrob1967

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But, but, but, I thought the Democratic party was the blue collar party for the people, now you're telling us that it was all a lie?

They couldn't do a damn thing to help out the little guy over the last 30 years?

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RE: Goodbye, American Middle Class - 8/1/2010 9:21:53 PM

TheRaptorJesus

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quote:

ORIGINAL: subrob1967

But, but, but, I thought the Democratic party was the blue collar party for the people, now you're telling us that it was all a lie?

They couldn't do a damn thing to help out the little guy over the last 30 years?

...

How can someone with reading comprehension as bad as yours navigate a website?

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RE: Goodbye, American Middle Class - 8/1/2010 9:42:00 PM

juliaoceania

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Class warfare is fomented by the haves against the almost haves and the have nots. In other words the middle class and the working poor are at odds against each other because of entitlements, and the working poor and those on government assistance are pitted against each other...

It is rather sad, most of us are fighting for the scraps off the table of the very rich, and there is never enough that trickles down to the masses...personally, I don't like fighting for a random piece of cold potato when the rich are feasting on filet mignon at the rest of society's expense

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RE: Goodbye, American Middle Class - 8/1/2010 10:04:08 PM

Musicmystery

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quote:

ORIGINAL: TheRaptorJesus

quote:

ORIGINAL: subrob1967

But, but, but, I thought the Democratic party was the blue collar party for the people, now you're telling us that it was all a lie?

They couldn't do a damn thing to help out the little guy over the last 30 years?

...

How can someone with reading comprehension as bad as yours navigate a website?

Yeah, really. Non sequitur doesn't come close to whatever that was trying to be.

Used to be Democrats held circular firing squads. Now the Republican factions do it in lockstep.

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RE: Goodbye, American Middle Class - 8/2/2010 4:35:47 AM

DarkSteven

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quote:

ORIGINAL: subrob1967

But, but, but, I thought the Democratic party was the blue collar party for the people, now you're telling us that it was all a lie?

They couldn't do a damn thing to help out the little guy over the last 30 years?

Well, when Clinton was in office, the economy actually performed damn well.

The concept of deficit spending was turned by Reagan into an art form - he who said "deficits don't matter- and i to a sick parody by W. The GOP has developed a mantra about tax cuts and lower taxes that is noticeably much more powerful than their lip service to smaller government.

Any voices of fiscal sanity, GOP or Dem, have paled beside the idea of having it all and not paying for it. But the idea of out of control spending, supported by the concept of the Laffer curve, has solid GOP roots and has been practiced much more by Republicans once in office.

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RE: Goodbye, American Middle Class - 8/2/2010 11:05:44 AM

subrob1967

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quote:

ORIGINAL: DarkSteven

quote:

ORIGINAL: subrob1967

But, but, but, I thought the Democratic party was the blue collar party for the people, now you're telling us that it was all a lie?

They couldn't do a damn thing to help out the little guy over the last 30 years?

Well, when Clinton was in office, the economy actually performed damn well.

The concept of deficit spending was turned by Reagan into an art form - he who said "deficits don't matter- and i to a sick parody by W. The GOP has developed a mantra about tax cuts and lower taxes that is noticeably much more powerful than their lip service to smaller government.

Any voices of fiscal sanity, GOP or Dem, have paled beside the idea of having it all and not paying for it. But the idea of out of control spending, supported by the concept of the Laffer curve, has solid GOP roots and has been practiced much more by Republicans once in office.

Clinton had the dot com boom as well as a republican congress to hold his spending in check, or don't you remember Hillarycare?

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RE: Goodbye, American Middle Class - 8/2/2010 11:08:19 AM

subrob1967

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quote:

ORIGINAL: TheRaptorJesus
How can someone with reading comprehension as bad as yours navigate a website?

Everythin' I knows, I learnned from you, dear Jeebus.

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RE: Goodbye, American Middle Class - 8/2/2010 3:59:55 PM

Vendaval

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I refer to "trickle down economics" as "piss in the wind". One person gets relief, everyone else gets pissed on.

quote:

ORIGINAL: juliaoceania

Class warfare is fomented by the haves against the almost haves and the have nots. In other words the middle class and the working poor are at odds against each other because of entitlements, and the working poor and those on government assistance are pitted against each other...

It is rather sad, most of us are fighting for the scraps off the table of the very rich, and there is never enough that trickles down to the masses...personally, I don't like fighting for a random piece of cold potato when the rich are feasting on filet mignon at the rest of society's expense

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RE: Goodbye, American Middle Class - 8/2/2010 5:49:22 PM

Musicmystery

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quote:

Clinton had the dot com boom as well as a republican congress to hold his spending in check, or don't you remember Hillarycare?

Sure we do--the Republicans proposed an alternate plan that we just passed...only now they oppose it.

But then, they oppose everything now, so what's the difference.

I wish they'd have opposed a few things during the Bush years. We wouldn't be in this mess.

< Message edited by Musicmystery -- 8/2/2010 5:51:33 PM >

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RE: Goodbye, American Middle Class - 8/3/2010 4:07:22 AM

subrob1967

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quote:

ORIGINAL: Musicmystery

quote:

Clinton had the dot com boom as well as a republican congress to hold his spending in check, or don't you remember Hillarycare?

Sure we do--the Republicans proposed an alternate plan that we just passed...only now they oppose it.

But then, they oppose everything now, so what's the difference.

I wish they'd have opposed a few things during the Bush years. We wouldn't be in this mess.