According to a new report, ever since Bill Clinton granted permanent normal trade relations to China, the U.S has lost over 64,000 manufacturing firms and at least 5.8 million manufacturing jobs.
Bud Meyers's blog
Having the mightiest military, more powerful than the world has ever seen, doesn't make America exceptional. An ever expanding middle-class, equal opportunity for all, fairness in the political process and worker's rights was what had also made America exceptional since World War II—when the rising tide of capitalism had once lifted all boats. Now it just lifts the biggest yachts.
Whether ideologically or politically motivated, economists and politicians on both sides of the aisle have been debating as to the reason for the falling labor participation rate.
From Adam Smith, to John Maynard Keynes, to Milton Friedman, to Robert Reich and Paul Krugman.
The wealth of the entire world is now divided in two, with almost half going to the richest one percent, and the other half to the remaining 99 percent.
In November 2013 the World Economic Forum released a 49-page report titled Outlook on the Global Agenda 2014. It says that, based on those surveyed, inequality is "impacting social stability within countries and threatening security on a global scale."
In order to detect and eradicate wasteful government spending, we first have to identify and define just exactly what we consider to be "wasteful". But it probably depends on who you ask, and who benefits the most.
The ultra-wealthy uses the tax code as a weapon in their class-war against the poor by paying less than their fair share of taxes, when in a progressive tax system, the most wealthy are supposed to pay a greater percentage of their incomes --- because they are more able to contribute more, which benefits the most.