Question Of The Week, 8/6/06
Good morning. It has been real busy around here for the last couple of days. If your interested in what caused that see the post below this one. I'm still trying to catch up on my incoming e-mail. Every Saturday I record The National Debt, I'll e-mail a copy of that file to anyone that is interested on New Years Day, I'll mention that again when the date gets a little closer.After I'd updated that file I found two articles in my e-mail,here and here that helped me decide what this weeks Question Of The Week would be. So, now that you have read them this weeks Question Of The Week is. Is there another Great Depression in our near future? I'll post my answer in the Comment Section Monday night.
God Bless America, God Save The Republic.
God Bless America, God Save The Republic.
posted by David Schantz | 2:29 AM
6 Comments:
I had been having thoughts for several months that economically America was heading down a dangerous path. I suspect that all the increased government spending, supposed to help the economy, will finally turn out to be a curse in the long run. Sadly, I'm not sure whether people will lose the complacency and actually make the drastic changes required to turn things around, ignorance may be a blessing for one, but it's a curse for all.
About the national debt, I remember seeing a giant sign on a building in New York City which was displaying the debt live in front of everyone, things like that should be more common.
With today's news about the price of oil rising again...the fact that productivity gains are not being shared with employees...the fact that opposition to an increase in the minimum wage and the mentality behind it...the deindustrialization of America...are all indications that the economy is creeping towards a possible collapse.
People can defend the wealthy and promote trickle down economics, but there are rich people in Brazil, Haiti, and India. A middle class provides not only a good standard of living for a majority of people, but also maintains a stable political environment.
That is something that cannot be assumed to exist forever. It's a far more delicate balance than we realize.
What mentality behind the opposition to the min wage are you talking about Michael. In my opinion, if you try to raise the minimum wage, employers will probably just hire fewer people, it'd probably just encourage companies to ship away jobs.
Scriptor, the mentality I refer to is the one that holds to the notion that you never pay someone what they are worth, and scream socialism when the government steps in to do just that.
It is unusual for state as conservative as North Carolina to raise its minimum wage after waiting years for the federal government to do so.
The arguments you mention, not hiring as many people or encouraging employers to ship jobs overseas portrays business as so dependent upon cheap labor that I have to wonder what our Civil War was about in the first place.
Renting slaves IS cheaper than owning them.
First I want to thank you for stopping by to answer this weeks question. Me posting my answer doesn't mean your to late, your never too late. If you want to go back and answer the very first one, feel free, that would be in the archives, May 8, 2005. Is there another Great Depression in our near future? I've been recording the National Debt (not at this site) every Saturday since 1/1/05. That file could be used as an example when someone is explaining out of control spending. The people that are running up that tab (our elected officials)tell us the economy is doing great (it would be for the money lenders). So a lot of "We The People" follow their lead and spend like there is no tomorrow. I'm afraid there will be and when it comes the lenders will call in all their markers and our great economy will come crashing down. Yes there is another Great Depression in our near future.
God Bless America, God Save The Republic.
The signs are all there, but I just don't think we will get bogged down in a 'great depression' again. I think that a recession is now inevitable, but we will bounce out of it relatively quickly.
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