America, A Rich Country With Poor People - Video

[DamianTV]

http://www.youtube.com/watch?feature=player_embedded&v=V_3zmBUCVcI

[Anti Federalist]

Why was this rated one star?

What is the premise of the video?

That stagnating or dropping wages are creating an underclass?

Pffft...that should be obvious to anybody with eyes to see.

Wal Marx jobs will NOT support a middle class.

So, we'll have what most of humanity has always had:

An elite ruling class of about 5 ten 10 percent of the population...and bare sustenance for the rest of us.

And, by doing that, you'll keep everybody in line, especially if you throw them some bread and hold some circuses from time to time.

Or you'll promote Bolshevik revolution.

I'm not sure what option the elites are angling for right now...could go either way.

[DamianTV]

In all fairness, the video is rather boring and not as revealing as it should be. Like it is designed as a "fluff piece".

The point of the video however remains exactly the same. Education and Experience now have nearly zero influence on Job Opportunity other than Wal Marx. Say someone had four years of training in how to build mechanical typewriters or film based cameras. The experience / training is now completely irrelevant as those two trades and the jobs they created are now defunct and obsolute in favor of electronics. Thats not a great example to support the claim however. The more relevant point is addressed by the first interviewee in the vid. College Education is required for a low paying News Director job in one of the highest rated markets in the US. Look at how many people with Masters Degrees have no other opportunity than to get a McJob just to put food on the table. How many people with experience in other trades now have no other choice but to work at a low paying part time job.

There is a new term in the english language: The Educated Poor.

Also to be fair to whoever rated the video as a 1 star, no real solutions are offered. Even in the Peter Schiff 15 for 15, no real long term solution is presented. People could easily live on $5 bucks an hour if the Value of the Dollar was higher. Yet, more often than not, I hear people cry for an increase in the Quantity of Money coming to them instead of demanding that each Fiat Dollar they earn to be given more Value. In the 1960's, one hours worth of work at Minimum Wage at the time would buy you 22 Candy Bars. Today, one hours worth of work at Minimum Wage will buy 6 or 7 Candy Bars. The quantity of money paid for Minimum Wage today exceeds the quantity of money that was paid in 1960.

The problem is NOT Quantity, but Value. And our Fiat Dollars have lost almost ALL of their value, which causes a lack of Jobs, even for those with an Education. Having a College Degree in any course of study does not help getting a job as a Waitress or Bartender, which sometimes can pay more than jobs that do require a College Degree. Hell, look at Strippers, vs Pizza Delivery. Consider also the prize of Pizza, and Food in general. Average increase of 9% per year since 2008. Its not the Quantity of money that people are paid, it is that more money is printed, which devalues every dollar in your pocket. Solution is not to get paid a higher quantity, it is to get rid of the money at the top and due to scarcity, increase the value. Would people expect an annual pay raise for the same job if the value of the dollar did not continuously go down? That may be in interesting point of contention, so please debate.

[heavenlyboy34]

Unfotunate the vid's primary claim seems to be (only watched ~half) that the minimum wage isn't sufficient enough-and that's the problem. Great idea for a documentary, just a tad misguided.

[Anti Federalist]

Unfotunate the vid's primary claim seems to be (only watched ~half) that the minimum wage isn't sufficient enough-and that's the problem. Great idea for a documentary, just a tad misguided.

Well, it's not. I don't know many places where you could keep yourself going for $290 a week, gross.

But trying to change economic reality by government diktat is as foolish as Cnut the Great giving orders to the tide.

[heavenlyboy34]

Well, it's not. I don't know many places where you could keep yourself going for $290 a week, gross.

But trying to change economic reality by government diktat is as foolish as Cnut the Great giving orders to the tide.
Yes, I was referring to State-mandanted minimum wage. Thanks for clarifying, though. :) ~hugs~ (love your metaphors and figurative language :cool: )

[muh_roads]

Why was this rated one star?

Krugman lurks the forums.

[enhanced_deficit]

To be fair, it is much much easier to recruit a large military force to send to dangerous foreign lands when there is a sufficiently large economically impovrished class. Where would millions of men/women rotated in/out of Iraq/Afgahnsitan freedom wars have been recruited from if everyone in US had millinaire parents? Sure you can open Mexico border with "fast track" immigration carrot as Bush tried on limited scale during Iraq freedom war but that puts the country back to square one.

On the other hand, I read last week that 90% of wealth gains in the US since 2010 or so went to top 1% of population.

[Zippyjuan]

Historically, a strong and large middle class has actually been a rarity. Most societies have been economically polarized with the wealthy controlling a huge portion of the economy. We didn't really have one until after WWII.

[enhanced_deficit]

Historically, a strong and large middle class has actually been a rarity. Most societies have been economically polarized with the wealthy controlling a huge portion of the economy. We didn't really have one until after WWII.

Historically, Equal Opportunity and Equal Rights for all have also been a rarity and one form or another of slavery/exploitation have been common. But modern times bring different expectations.

[Keith and stuff]

With 1 working parent and 3 kids, you might be on welfare. Go figure...