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Reply #120: The conditions you noted are not the ROOT cause, but the result of exported jobs and huge deficits. [View All]

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AdHocSolver Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-04-08 05:51 PM
Response to Reply #117
120. The conditions you noted are not the ROOT cause, but the result of exported jobs and huge deficits.
Stagnant wages are due to the lack of jobs and American workers competing for jobs against Chinese workers who are paid one-twentieth the American wage rate.

The Social Security Fund is not growing because fewer wage earners in the U.S. means a lower collection of FICA taxes. More American workers would mean more Social Security taxes paid into the fund.

Fast rising home prices are due to the huge Federal deficits plus consumer debt coupled with the Fed setting artificially low interest rates that fuels speculation in real estate.

The causes you mentioned are intermediate causes. The wealthy elite point to those causes to convince people that the ruling elite somehow has no control over the situation. That is nonsense.

The sending of jobs overseas with the resulting trade deficits plus artificially maintained low interest rates are the mechanisms used by the wealthy elite to subjugate Americans into a modern form of serfdom.

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