On Sat, Sep 4, 2010 at 12:21 PM, Robert Munn <cfmuns...@gmail.com> wrote: > Take a look at this guy's argument. He calls 2000-2010 the worst > financial decade in history, and he has pretty good evidence as to > why.
I didn't say that 2000 to 2010 was a good decade financially. Quite the opposite. I just said that stock market did fine. I'll go through that guy's article in more detail later but I'm not terribly convinced that dollar value vs gold is a particularly useful economic indicator. I'd focus more on the decline of real wages and the growing wealth gap (which also is reminiscent of 1929). > > >> Business investment in the US starts with consumer demand. Agreed? >> What increase there has been in consumer demand has been absorbed >> through excess production capacity. Agreed? >> Hiring and capital investment will occur only when consumer demand >> outpaces excess production capacity and productivity increases. >> Agreed? >> >> Now, tell me how tax cuts for the rich will increase consumer demand. >> > > People in the upper income brackets account for 1/3 of all consumer > spending. That's why you can't raise their taxes without having the > economy take a pounding. Define "upper income brackets" there. I've read that the top 10% of income earners account for roughly 20% of consumer spending. No one that I've seen has proposed raising the taxes of the lower 90%. In fact, most of the plans I've seen call for not renewing the tax cuts for only the top 1% of earners. I've yet to see any economic data that the top 1% account for any significant portion of consumer spending. Judah ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:326921 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
