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thomasm · Joined: 01 Jul 2005 Posts: 5

From Janet Yellen, President of the San Francisco Federal Reserve Bank, the government agency which controls and coordinates banking in the United States:"There are signs that [income inequality] is intensifying resistance to globalization, impairing social cohesion, and could ultimately undermine American democracy."Do you agree that the gap between the rich and poor in this country is widening & the middle class status of many is deteriorating?What does this say about the President's economic policies of encouraging companies to export jobs to cheaper labor in other countries, tolerance of illegal immigrants filling American jobs at slave wages, granting tax breaks to the wealthy & cutting funding in educational, medical and social programs, including veterans' benefits?I think the economy under Bush has indeed been booming for the wealthy & upper middle class, but has been devistating for working class and poor Americans.What do you think?"USA go to hell" - what a screen name! Your belief that your knowledge surpasses one of the leading experts in the financial world actually demonstrates your ignorance, both general and financial. And your screen name says it all. I defend your right to despicable speech, but again it shows your true character and again, your ignorance. Having said all that, you are now blocked.Hey, great, intelligent answers on both sides of the issue, even the ones I disagree with (with of course that one exception). Such great answers I think I'll extend the question. It's going to be hard to pick a best answer. I might even have to pick one I disagree with, because even some of those are thoughtful and sincere (even if wrong!).

redslippers · Joined: 19 Sep 2006 Posts: 3

I am starting to be convinced we must be ready to take up arms against the globalists. They declared war on the American people when they made the Fedearl Reserve, eliminated the gold standard, left our borders open, and signed NAFTA/GATT

serena3116 · Joined: 21 Mar 2006 Posts: 5

I think I've heard this crap for 20 years. Can't you guys come up with something better?

JH8123 · Joined: 07 Oct 2004 Posts: 2

globalization is changing the economics of the world in gerneral. china and india are becoming comsumer nations also demanding a share of resources.i do not have a degree in ecomonics nor do i have info on the current stats about the widening gap but i know that our poor here in american have a higher standard of poverty than other countries. many, myself included that have limited income still own cars, tvs, sterios etc ..lol..i just have more month left at the end of my money than i use to when i was able to work.the past few presidents have had to deal with this issue and of course, the current admin bears the blame. we have to realize that new conditions require new solutions.

DeeLee · Joined: 01 Sep 2005 Posts: 6

I agree with you that the wealthy have gotten wealthier and the poor have gotten poorer. With all these recent stock market ups and downs I am getting a little worried about exactly how well balanced our economy really is. The thing is the rich know what to invest in. War is a business. As the national debt goes up the lower economic classes pay for it.

acermill7878 · Joined: 09 Nov 2003 Posts: 4

You are correct,unfortunately globalization will continue regardless of who is in the white house,this is the massive corporate interest at work.The two Bush administrations have advanced their agenda through fear and false promises to the most gullible segment of our people.I see no quick solution only a sure end to the "American Way" when the bill comes due, I mean that sooner or later the all mighty dollar will fall from the graces of the rich oil nation's instrument of trade.Just the mention of this send tremors throughout the economies of the world.

ownlyanangel · Joined: 01 Dec 2003 Posts: 5

I would love to know where it says that we are supposed to have income equality... in all of civilization, we have always had the rich & the poor. Now, comes the liberal ideaology that everyone should be equal??? please...

coolpanamania · Joined: 20 Apr 2006 Posts: 3

Yawn... Again, blame the President. First of all its a known fact that most economic situations are actually a result of actions by a previous president.The time it takes for reforms to take effect is ten years sometimes more. Now, I don't actually blame Clinton either, I personally believe that the financial market goes through cycles of ups and downs and there is nothing we can do to control it. I believe that the lady is also misinformed, while its true it is causing the poor to dislike globalization, they have every right to. limited globalization is not a bad thing, but it does take jobs away from the working classes. Everybody can have their own opinion though, because when it comes to economics we really don't know that much, its a newer science.

Ken_Russell · Joined: 17 Mar 2003 Posts: 5

I agree with the quote.The wealthy of the US have the skills required to subvert the legal means of distributing opportunity."W" is a shameful president and has damaged the US on many levels.(I'm too tired to give this a 'proper' response)"duping" large blocks of voters into choosing that which hurts them ... geeeze, what a masterful piece of deception.

pd11111 · Joined: 11 Oct 2004 Posts: 4

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ramen856 · Joined: 25 Feb 2007 Posts: 3

I believe that it is your misunderstanding of the Fed that has you looking for Executive solutions or causes. The Fed is a private, for-profit corporation of bankers, who lend the US money, not backed by anything of real value. They control the money supply, they control the interest rates, and they control inflation and employment levels. All of this without oversight. It is highly undemocratic and quite unconstitutional."Democracy is not about trust; it is about distrust. It is about accountability, exposure, open debate, critical challenge, and popular input and feedback from the citizenry. It is about responsible government. We have to get our fellow Americans to trust their leaders less and themselves more, trust their own questions and suspicions, and their own desire to know what is going on."Michael Parenti"[U.S.] domestic policy ... has focused on creating a massive welfare state for corporations even as the minimal welfare state benefiting the majority of the people was dismantled."Lawrence Shoup"George Bush and corporate America are intent on eliminating taxes on all capital incomes. Nor do they care if record budget deficits are the result. Many of their more right-wing friends, including those in Congress, actually want larger deficits. They see chronic, record deficits as producing the budget crisis necessary to use as an excuse to privatize Social Security and dismantle what remains of the Roosevelt New Deal programs of the 1930s."Jack Rasmus"[American leaders] are perhaps not so much immoral as they are amoral. It's not that they take pleasure in causing so much death and suffering. It's that they just don't care ... the same that could be said about a sociopath. As long as the death and suffering advance the agenda of the empire, as long as the right people and the right corporations gain wealth and power and privilege and prestige, as long as the death and suffering aren't happening to them or people close to them ... then they just don't care about it happening to other people, including the American soldiers whom they throw into wars and who come home - the ones who make it back alive - with Agent Orange or Gulf War Syndrome eating away at their bodies. American leaders would not be in the positions they hold if they were bothered by such things."William Blum

doctorwhofan23 · Joined: 05 Jan 2005 Posts: 3

Although I was a Bush supporter in many things I do not agree that globalization necessarily involves sending tons of jobs out of the county. However,it seems that most politicians on both sides support that form of globalization whether they admit it or not.You cannot convert all the ex- manufacturing employees intocomputer technicians.As far as immigration goes, it must be done legally. Punishment should be dealt to illegal aliens(no matter how nice they are). Also companies who hire illegal aliens should be severely fined as well as their board of directors. What scares me is that most politicians ( both sides)now have more of allegiance to big business than to their own countries.Although I believe in a capitalist system , love of our country should come first and still contain a benevolent world view.

Rhonda4676 · Joined: 18 May 2007 Posts: 8

gee, can you make your question shorter, there's not enough room to respond to everything in this box.