In The News Today...

Quote: 1nickelmiracle

Without real trade deficit reversals Evenbob, the middle class has to be attacked because everyone else knows how to defend themselves too well. Elections don't matter and doesn't matter if red or blue. I don't even believe anything can be fixed with our system in place and I wouldn't even know how to do it if I had three wishes. It has already been decided we will become a third world country decades ago.

To me, wage gap is the issue. The US addresses this by reducing taxes to the poor. However, because they are the only western country that has private health care with costs out of control, the effective "tax rate" is actually much higher than most western countries. The typical attack from the right is for the poor to contribute more and to keep minimum wage low and to pass on the cost of benefits to workers. The typical attack from the left is to raise taxes for the rich and to raise minimum wage to something that is unsustainable for businesses.

The end result is that most people have less money to spend and sharpens the income gap in the USA despite them working hard. Most western countries have a high minimum wage and a progressive tax on the rich to even the playing field somewhat, and to achieve a balance between the rich and the poor. The general result is less freedom and more happiness, both of which the average DTer seems to abhor.

Quote: boymimbo

The end result is that most people have less money to spend and sharpens the income gap in the USA despite them working hard. Most western countries have a high minimum wage and a progressive tax on the rich to even the playing field somewhat, and to achieve a balance between the rich and the poor. The general result is less freedom and more happiness, both of which the average DTer seems to abhor.

Sorry, I just don't see how someone paying confiscatory tax rates is supposed to make me "more happy." Nor do I see what it matters what "the rich" make in relation to "the poor."

A major reason so many stay so poor in the USA is they do not get skilled. The best way to not be poor is finish high school and not have kids until your early to mid 20s. Skilled people do well, those that are waiting for a company to train them not so much.

Try living in another country, and you'll see the differences.

Quote: boymimbo

Try living in another country, and you'll see the differences.

Is that an offer? Heck I'd love to. By any chance are you hiring yanks up there yet?

Quote: boymimbo

Somewhat true, that said, economic policies and how their countries do during bad and good times are mitigated through their government's actions. For example, Canada fared well during the tough times because their banks avoided the banking crisis. They avoided the banking crisis because they limited what investments their banks were able to buy based on risk. Other countries fared better or worse based essentially on government policies. The

And while the global recession happened, some countries kept on truckin', like any country that wasn't heavily tied to the greenback or US banks.

So even if the global economy does start to boom, America might (and probably will) lag behind because of tax structures, wage gaps, and debt servicing.

First let me say that whatever I say now or in the future don't take it to mean that I don't really care for Canada and Canadians, I love the place and the people. Just like here in the States it's generally the governments that aggravate me. With that caveat let me say.

Canada's central bank is the worst capitalized in the western world with less than .5% capitol reserves. They have done the same incredibly stupid things with housing as the US.

Largely a beautiful and pristine country is being destroyed by the tar sand extraction that can be seen from space. What is being done to your forests is sinful [as is done many places down here] with no plan to reforest. If the price of oil declines below around 82 $ per bbl, look out.

http://www.zerohedge.com/news/2014-09-03/presenting-worst-capitalized-central-bank-west-hint-not-fed#comments

Quote: boymimbo

Try living in another country, and you'll see the differences.

Right! That explains why the USA is the most immigrated to country in the history of the world!

Quote: chickenman

Your glass will be in a world of hurt when she runs out of other people's money

+1

Quote: AZDuffman

Skilled people do well, those that are waiting for a company to train them not so much.

+1

Corruption convictions today. Guess it doesn't qualify as propaganda news.

Quote: 1nickelmiracle

Corruption convictions today. Guess it doesn't qualify as propaganda news.

Foxnews.com has it. Is it buried at MSNBC?

Quote: AZDuffman

Quote: 1nickelmiracle

Corruption convictions today. Guess it doesn't qualify as propaganda news.

Foxnews.com has it. Is it buried at MSNBC?

lol only commenting on how this thread works.