Capitalism's Failure: Part 3


	Capitalism's Failure: Part 3

baydawg

12-27-2008 1:50 PM

93 views

tags:

capitalism, failure, inflation, wages, family, greed

baydawg says:

the rich making war on america's families--free enterprise corrupted--

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4b6a02b3-f32b-4ea1-8eaf-6279f87f266d/B7473656-0C6B-47B4-BBC5-CAE877BA77C1/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://globalguerrillas.typepad.com/johnrobb/2008/12/the-great-moder.html" href="http://globalguerrillas.typepad.com/johnrobb/2008/12/the-great-moder.html" style="font-size: 11px;">globalguerrillas.typepad.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/johnrobb/2008/12/the-great-moder.html">rather than solving this political problem, economic policy retreated from full employment and assisted in the evisceration of unions. That lowered inflation, but it came at the high cost of two decades of wage stagnation and a rupturing of the link between wage and productivity growth.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/johnrobb/2008/12/the-great-moder.html">the great moderation has been driven by asset price inflation and financial innovation, which have financed consumer spending.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globalguerrillas.typepad.com/johnrobb/2008/12/the-great-moder.html">A better way to look at the "the Great Moderation" is that it was accomplished through the systematic financial and economic debasement of the American family (those at the top of American corporations and on Wall Street gained incredible wealth by participating in this process).  All we have left now are low wages, massive debt, and a crappy "service economy."</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B7473656-0C6B-47B4-BBC5-CAE877BA77C1/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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