The Future of the Middle Class

Feb 2, 2011 | Posted by: Mr_Bill | Full story: www.theatlantic.com

Perhaps the most important questions for the America economy are: Why did the middle class meltdown happen, and can we fix it?

Derek has also written for BusinessWeek , Slate , and The Daily Beast . Derek Thompson is a blogger at TheAtlantic.com and an associate editor for the Business Channel, where he writes about economic policy, technology, and the media industry.

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21 - 34 of 34 Comments Last updated Feb 6, 2011
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“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#23
Feb 3, 2011
 
Eristotle wrote:
<quoted text>
http://en.wikipedia.org/wiki/Office_of_the_Co...
Preemption of state banking regulation
In 2003, the OCC proposed regulations to preempt virtually all state banking and financial services laws for national banks and their diverse range of non-bank, corporate operating subsidiaries.[1] Despite opposition from the National Conference of State Legislatures[2], the OCC's regulations went into effect. In Watters v. Wachovia Bank, N.A. in 2007 the United States Supreme Court validated the preemption of state regulations by the OCC, ruling that the OCC, not the states, has the authority to subject national banks to "general supervision" and "oversight":
...State regulators cannot interfere with the business of banking by subjecting national banks or their OCC-licensed operating subsidiaries to multiple audits and surveillance under rival oversight regimes.
Democrats can't resist the urge to micro-manage something regardless of their qualifications to do so...that's why we lost the Viet Nam war without ever losing a major battle.
This is exactly the type of lying neo-conservative FEDERAL regulation that shows what hypocrits they are.

A) This Ron Reagan policy caused credit card rates to rise from 8-12% up to 18-24%.

B) Why?
To wring money out of working Americans. This is how much the GOP does for middle income Americans...IT MILKS THEM DRY.

1) We did not lose the Vietnam war.

2) We did not win, either; because we backed the wrong side. Presidenty Eisenhower turned down nationalist Ho Chi Minh when Ho aske for help to remove the French colonial government from his nation. Ike said no; we can't turn ouur back on our WWII ally Gen DeGaulle. Some decision!

3) We face a similar situation right now in Egypt.
Eristotle

Indianapolis, IN

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#24
Feb 3, 2011
 
Mr_Bill wrote:
<quoted text>
This is exactly the type of lying neo-conservative FEDERAL regulation that shows what hypocrits they are.
A) This Ron Reagan policy caused credit card rates to rise from 8-12% up to 18-24%.
B) Why?
To wring money out of working Americans. This is how much the GOP does for middle income Americans...IT MILKS THEM DRY.
1) We did not lose the Vietnam war.
2) We did not win, either; because we backed the wrong side. Presidenty Eisenhower turned down nationalist Ho Chi Minh when Ho aske for help to remove the French colonial government from his nation. Ike said no; we can't turn ouur back on our WWII ally Gen DeGaulle. Some decision!
3) We face a similar situation right now in Egypt.
Civics 101...

Presidents don't pass laws...Congress does...and both the Senate and the House were controlled by Democrats during the Reagan administration.
LMAO

Guston, KY

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#25
Feb 3, 2011
 
I vote Democrat because like most Americans I trust lawyers more than anyone else; I think only lawyers should run the government, and all the Democrat Leaders are lawyers: Barack Obama, Michelle Obama, Joe Biden, John Edwards, House Speaker Nancy Pelosi, Senate Leader Harry Reid, Bill Clinton, Hillary Clinton, and John Kerry, to name just a few.(Al Gore dropped out of Law School, so I don’t trust him as much, except on Global Warming.)

I vote Democrat because the Democrats support the trial lawyers and I think this country needs more lawsuits and less tort reform. And I don’t believe the trial lawyers’ contributions have a thing to do with it.

I vote Democrat because Congress has done such a wonderful job under Democrat leadership the last two years, that I want a lot more of the same.

I vote Democrat because I want to get my health care from the same competent, efficient, cost-effective, customer-service-focused folks who run the US Post Office, the Pentagon, FEMA and the state Registry of Motor Vehicles.

I vote Democrat because I'm way too irresponsible to own a gun, and I know that my local police are all I need to protect me from murderers and thieves.

I vote Democrat because Obama has promised to cut the taxes of 95% of the people, including the 30% who don’t pay taxes.

I vote Democrat because Obama has promised to take away the secret ballot in union elections, and I think the union bosses should know if a workingman or woman is with them, or against them.

I vote Democrat because Obama has over three years experience in the Federal Government, and “Hope” is a great strategy.

I vote Democrat because Obama voted “present” instead of “yes” or “no” over 120 times in the Illinois State Senate, and I think we need a decisive president.

I vote Democrat because I think that drilling for American oil is foolish, when we can buy oil from the Middle East.

I vote Democrat because I think windmills (except off Hyannis) are a better answer to reliable, clean energy than Nuclear Energy.

I vote Democrat because I don’t think we give enough to other countries in foreign aid.

I vote Democrat because I’m for putting up barriers to free trade, as they did in 1930 with the Smoot-Hawley bill. That made things much better then.

I vote Democrat because I miss the high unemployment, inflation and interest rates of the Jimmy Carter years.

I vote Democrat because parents shouldn’t get to choose the school their kids go to. Parents should leave their children’s education to the teachers and stay out of it.

I vote Democrat because I think this is the perfect time to raise the Capital Gains tax and drive investment money out of the stock market.

I vote Democrat because I believe oil companies' profits of 4% on a gallon of gas are obscene, but the government taxing the same gallon of gas at 15% isn't.

I vote Democrat because I believe the government will do a better job of spending the money I earn than I would, and I want to spread my wealth around to those who earn less—or nothing.

I vote Democrat because freedom of speech is fine as long as nobody is offended by it.

I vote Democrat because, when we pull out of Iraq, I trust that the bad guys will stop what they're doing because they now think we're good people.

I vote Democrat because I believe that people who can't tell us if it will rain on Friday CAN tell us that the polar ice caps will melt away in ten years if I don't start driving a Prius.

I vote Democrat because I'm not concerned about restoring partial birth abortions so long as we keep all death row murderers alive.

I vote Democrat because I believe that small businesses should not be allowed to make a profit. They need to break even and give the rest away to the government for redistribution to people who didn’t start businesses.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#26
Feb 3, 2011
 
Eristotle wrote:
<quoted text>
Civics 101...
Presidents don't pass laws...Congress does...and both the Senate and the House were controlled by Democrats during the Reagan administration.
It was not a Law, it was a decision, a regulation, of the Reagan White House.
You should know what you are talking about. It had nothing to do with Congress. It was a regulatory stripping of states' rights for the benefit of the credit industry.
Assstrolnut

Scottsdale, AZ

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#27
Feb 3, 2011
 
Mr_Bill wrote:
<quoted text>
It was not a Law, it was a decision, a regulation, of the Reagan White House.
You should know what you are talking about. It had nothing to do with Congress. It was a regulatory stripping of states' rights for the benefit of the credit industry.
Dr. Bill! show em dis Law ;)
http://en.wikipedia.org/wiki/File:John_Law-Ca...

you trying to be da teacher in here? ;-000
Eristotle

Indianapolis, IN

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#28
Feb 3, 2011
 
LMAO wrote:
I vote Democrat because like most Americans I trust lawyers more than anyone else; I think only lawyers should run the government, and all the Democrat Leaders are lawyers: Barack Obama, Michelle Obama, Joe Biden, John Edwards, House Speaker Nancy Pelosi, Senate Leader Harry Reid, Bill Clinton, Hillary Clinton, and John Kerry, to name just a few.(Al Gore dropped out of Law School, so I don’t trust him as much, except on Global Warming.)
(Sorry, had to edit due to space limitations)

I don't vote Democrat because I can't keep mutually exclusive ideals in my head and give them equal validity...

Such as preferring Darwin over a supreme being but denying that the womb contains a future human being.
Apparently, a pregnancy might as easily result in passing a turnip or snail darter...or even an Al Gore...oh wait...that actually did happen (that's his "parents" story, and they're sticking to it)

Or claiming to speak for those who can't speak for themselves, while denying a voice of those fetuses that absolutely can't speak for themselves.

Or allowing future humans to be put to death and discarded, while fighting for the right-to-life of a convicted murderer, who has proven to have no empathy for others.

Holding mutually exclusive ideals in one's head and giving both equal legitimacy is a sign of schizophrenia...proving Liberalism is a mental disorder.

But then, everyone already knew that, as witnessed by asking a person a direct question, and the answer is a totally unrelated "Hate Bush" or "Hate Reagan" or "Hate Republicans" rant...it's hilarious.
Eristotle

Indianapolis, IN

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#29
Feb 3, 2011
 
Mr_Bill wrote:
<quoted text>
It was not a Law, it was a decision, a regulation, of the Reagan White House.
You should know what you are talking about. It had nothing to do with Congress. It was a regulatory stripping of states' rights for the benefit of the credit industry.
I'm assuming you have some data that you forgot to post with your comment...anxiously waiting to see it...but not holding my breath.

Too many Liberals seem to think their opinion is proof enough.
Chicago Guy

Wilmette, IL

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#30
Feb 3, 2011
 
Eristotle wrote:
<quoted text>
(Sorry, had to edit due to space limitations)
I don't vote Democrat because I can't keep mutually exclusive ideals in my head and give them equal validity...
Such as preferring Darwin over a supreme being but denying that the womb contains a future human being.
Apparently, a pregnancy might as easily result in passing a turnip or snail darter...or even an Al Gore...oh wait...that actually did happen (that's his "parents" story, and they're sticking to it)
Or claiming to speak for those who can't speak for themselves, while denying a voice of those fetuses that absolutely can't speak for themselves.
Or allowing future humans to be put to death and discarded, while fighting for the right-to-life of a convicted murderer, who has proven to have no empathy for others.
Holding mutually exclusive ideals in one's head and giving both equal legitimacy is a sign of schizophrenia...proving Liberalism is a mental disorder.
But then, everyone already knew that, as witnessed by asking a person a direct question, and the answer is a totally unrelated "Hate Bush" or "Hate Reagan" or "Hate Republicans" rant...it's hilarious.
Those are all the same reason.
Sammy Snodgrass

AOL

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#31
Feb 3, 2011
 
Middle class America is alive but suffering but so to say, a case of flue. Time will tell but I believe it's only a matter of time before they're back stronger then ever. Our very nature keeps us striving for better, bigger and faster. That's one of Middle Anericas' great strong points.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#32
Feb 4, 2011
 
Eristotle wrote:
<quoted text>
I'm assuming you have some data that you forgot to post with your comment...anxiously waiting to see it...but not holding my breath.
Too many Liberals seem to think their opinion is proof enough.
Here you go...
http://en.wikipedia.org/wiki/Main_Page

“It's a Brand New Day”

Since: Feb 06

New Rochelle

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#33
Feb 4, 2011
 
Sammy Snodgrass wrote:
Middle class America is alive but suffering but so to say, a case of flue. Time will tell but I believe it's only a matter of time before they're back stronger then ever. Our very nature keeps us striving for better, bigger and faster. That's one of Middle Anericas' great strong points.
YES!
But it is a case of the flu with no one else to shovel the walk, and no money for both medicine and the kids college, and the mortgage is due in two weeks, and there is not enough money left for food and mortgage; not to mention the charge cards. And the damned flu makes you tired, and your bones hurt. And it keeps getting worse.

http://www.youtube.com/watch...
Eristotle

Indianapolis, IN

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#34
Feb 5, 2011
 
Mr_Bill wrote:
<quoted text>
Here you go...
http://en.wikipedia.org/wiki/Main_Page
Opening paragraph from link you posted:

Shale oil extraction is an industrial process for unconventional oil production. This process converts kerogen in oil shale into shale oil by pyrolysis, hydrogenation, or thermal dissolution. The resultant shale oil is used as fuel oil or upgraded to meet refinery feedstock specifications by adding hydrogen and removing sulfur and nitrogen impurities. Shale oil extraction is usually performed above ground (ex situ processing) by mining the oil shale and then treating it in processing facilities.

Oh yeah, that clears everything up.

<:)
Knoxin Boots

Birdsboro, PA

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#35
Feb 5, 2011
 
Minimum wage is a joke. Minimum wage as it stands should be called "Working homeless wage".

Let's face it not everyone is college material. Businesses these days are downright unpatriotic. This country is just a collection of bank statements.
Eristotle

Indianapolis, IN

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#36
Feb 6, 2011
 
Knoxin Boots wrote:
Minimum wage is a joke. Minimum wage as it stands should be called "Working homeless wage".
Let's face it not everyone is college material. Businesses these days are downright unpatriotic. This country is just a collection of bank statements.
Barney the Dinosaur, or the Liberals, have brainwashed you into thinking you have some intrinsic value...you don't.

Minimum wage is paid to workers because they have minimum skills...anyone who stays at minimum wage for more than a year at the same job, probably is over-paid...or should find another employer.

The higher minimum wage goes, the fewer people businesses will hire on as unskilled, entry-level personel.

Too bad they aren't teaching economics in schools anymore.

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