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Old 11-17-2010, 10:28 PM
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harryconway harryconway is offline
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Join Date: Jan 2006
Location: Pasadena, California, U.S.A.
Posts: 9,178
Default Re: A funny state of the economy

Poly ... good marks. Yes, the "Tea Party" (without straying to far away from an ecomonic thread), is just really ... a reaction, a distraction, of about 18%. Made up of "all types".
The people who "run this country" ... who "call the shots"... who "have the wealth ... and the power" are the top 5%. They control 95% of the wealth.
In my lifetime, I've lived thru 3 major recessions. And with each recession, the collective wealth of a part of a generation is destroyed. Most people don't get to inherit millions/billions from dad. Instead, they're lucky to get their parents house. But with every recession ... people loose their jobs ... so they can't pay their mortgages ... so they loose their homes .... and the family "wealth", gone. Everything mom/dad worked for, for 25 years, gone.
Combine that, with "medical bills". In a "non-recession" environment, something like 80% of forclosure is triggered buy the need to pay "medical bills". And hey, everyone dies, and when all someone has is a home, and it costs around $100,000 a year to die ... sorry kids ... and grandkids ... no handed down wealth for you. Forget about grandma/granddad's "master plan .... the golden age of retirement ... people born in 1920, with 1950's thinking, making "financial" commitments in 1980, are being blindsided right and left, in 2010. And say "bye-bye" to handing down "anything" to anyone. Not exactly the "American" dream they were "sold".
I like Donald Trump, a lot. He's a straight shooter. Says what he thinks. Got enough "cash" in his pocket, that no one can "buy" him. He commented, the other day, about how the "Chinese" are laughing at us right now. "They" can't understand why "we" let "them" get away with as much as we do. That's bad. ..... and the other thing Mr. Trump said, was "America" needs to stop relying on OPEC oil.
Now, a lot of this applies to the rest of the world, also. Except, globally, 95% of the wealth is controlled by less that 1%.... and that 1%, they ain't gonna give "any" of it up.
In 2010, the Chinese produced and sold 13 million cars. They sure didn't sell any here. Japan produced 8 million cars, with only 1/3 of their market to the US. The US produced 6 million cars, and 2/3 of our auto sales went oversea's. Clearly, China and India are the fastest growing "consumer" markets. The "players" in the game clearly know where the field is. The "spectators" .... a lot of them don't even know they're in the wrong "parking lot" ... they're too busy having their tailgate party.
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