America Can’t Even Produce the Things It Invented

Post by iphorde » Mon, Jan 04, 2021, 9:38 PM UTC

gregkerzhner wrote: post #73

iphorde wrote: post #60

Earlier quoted context omitted.

Right, the one guy trying to knock it all down, you decide to vote out of office, because the Elites said he was racist. Bravo! Typical stupid Americans doing exactlt what the Elites want.

I would say that Trump's ability to convince people he is knocking down the elites, and instead using the office to benefit both his elite self and his elite inner circle is his greatest hustle, but actually, its quiet an ordinary move that elites have been pulling since the start of time. I feel like to really knock down the elites, you need someone who is not elite. However, anyone who rises to this kind of status…

Post by icemelt8 » Mon, Jan 04, 2021, 9:39 PM UTC

whatshisface wrote: post #70

viburnum wrote: post #55

Earlier quoted context omitted.

Comparative advantage never made any sense. It's a model of a world without technology, without supply chains, without increasing returns to scale, and only two countries.

You sort of had me until the last claim (no more than two countries), I know for a fact their models are more advanced than that. Any actual economist care to chime in and explain comparative advantage?

Post by formerly_proven » Mon, Jan 04, 2021, 9:40 PM UTC

recursivedoubts wrote: post #81

babaganoosh89 wrote: post #48

Earlier quoted context omitted.

The problem isn't comparative advantage, it's that the US left the poor states to languish with poor education. So instead of higher quality manufacturing / blue collar jobs, non-educated folks got minimum wage service jobs.

The US is at or near the top of all western countries on educational spending per student: https://nces.ed.gov/programs/coe/indicator_cmd.asp

Post by esoterica » Mon, Jan 04, 2021, 9:41 PM UTC

blackrock wrote: post #87

recursivedoubts wrote: post #6

We were sold down the river by our own elites, particularly on Wall Street and with the full complicity of the Economics Departments of the west. "Comparative Advantage", something something about corn and wool, meanwhile the whole supply chain was moved to China, our middle class was decimated and we went into tremendous amounts of debt to pretend everything was fine... Left, right... whatever. The elites have faile…

Your politicians failed you. You vote for them, and you feel good if they win. But then what happens? Nothing. The rich keeps getting richer. While the poor stays poor. And the middle class becomes poorer. The elites just wants to make more money. And what do they do? They buy out the politicians, in order to keep themselves rich. And what’s the biggest lie that they’ve sold you? That trickle-down-economics works for…

Post by l3v3ll » Mon, Jan 04, 2021, 9:42 PM UTC

iphorde wrote: post #52

habosa wrote: post #25

Earlier quoted context omitted.

84% of wealth in the stock market is in the hands of the top 10% Not sure about housing.

Yea, this isn't true. Most of the money in the markets are from the average Joe's 401k, or pension. Wealthy people put their wealth to work in private equity, or venture capital. I am just disgusted at how incompetent people are, and how they reiterate what they heard from CNN, Foxnews, or morons like Ron Paul. Now, Banks, and Funds manage large amounts of cash, but again, Pensions and 401k's make up the most of it.