Posts Tagged ‘Economics’
Economics – The Middle Class – It Was Nice Knowing You
Elizabeth Warren is the Leo Gottlieb Professor of Law at Harvard and the Chair of the Congressional Oversight Panel created to oversee the banking bailouts. She is without question “The People’s Champ.” In an article I just read, she poses this dilemma: “Can you imagine an America without a strong middle class? If you can, would it still be America as we know it?” She goes on to say that 1 of every 5 Americans is either unemployed, underemployed or just flat out of work altogether. One in 9 American families can not make their minimum monthly credit card payments. Credit cards are one of the biggest, if not thee biggest, scams perpetrated on the American people in my humble opinion. While I can afford to pay my monthly payment, I am very overextended with credit. My bad all the way.
Whereas, it is true that many of these jobs leave the country because of the low pay of employees in other countries, a good bit of the problem actually resides on the union’s shoulders for their manipulation in our political landscape. The reality is that it’s time for the American workers to stop blaming China, and help improve the efficiency of the corporations they work for, work harder, and demand less.
What if your arm was a state which grew a large percentage of the crops for our nation? And what if it wasn’t getting the right flow of money, or the banking system was not working in that region of our country? The farmers cannot get the money they need to deliver the crops, and therefore, the nation wouldn’t do as well either.
I can not say it any better than Elizabeth Warren has. She concludes her Huffington Post article with these cautionary words: “America today has plenty of rich and super-rich. But it has far more families who did all the right things, but who still have no real security. Going to college and finding a good job no longer guarantee economic safety. Paying for a child’s education and setting aside enough for a decent retirement have become distant dreams. Tens of millions of once-secure middle class families now live paycheck to paycheck, watching as their debts pile up and worrying about whether a pink slip or a bad diagnosis will send them hurtling over an economic cliff. America without a strong middle class? Unthinkable, but the once-solid foundation is shaking.”
I saw a very interesting piece online recently that only half-jokingly called for Ms. Warren to become our next president. No one I know of has spoken truth-to-power more loudly and more consistently over the years as she has. Elizabeth Warren for President? Not a bad idea. Not a bad idea at all!
Resource Author Francisco Rodriguez H.
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