BBC shows how to open a segment on COVID-19
Vua Econospeak, hat tip commenter Ken Melvin for this example from Crooks and Liars of a BBC anchor being straight forward:
BBC News to American Brodcasting: How to Open a News Segment
Relevant and even prescient commentary on news, politics and the economy.
Thanks for posting, Dan. Last week PBS’s Newshour interviewed two EMTs from NY State. They spoke of 24 hr shifts, crying at the end of a shift, the almost certainty of their contracting Covid-19, … Pay? $37K/yr without healthcare’
40% of the nation’s workforce is not making enough to live on. This growing inequity began around 1980; maybe before. It isn’t about there not being enough income, it is about the distribution.
I would argue your wrong, because you ignore the debt based nature of “growth” since 1980 and you can’t argue since the middle of 2000. The wealthy aren’t growing anything, because there is little to grow. You are just watching paper boom from debt and including that as “wealth equality”. Let it die, watch capitalism die. 75% nominal contraction in GDP would be brutal.
BS.
You are wrong.
Completely and totally.
I’ll let Ken Melvin explain it to you, he is much better at this than I am. Which goes to show if I know you are wrong, you are really wrong.
I am very right. Most growth over the last 2 decades has been a majority credit/debt based. Paper boom in financial assets. The structure in the economy and frankly national socioeconomic system based on endless economic growth is over. Let’s see how long you want to stay in the matrix.
Bert:
In 2006 when Warren started to talk about the two income family when moms went to work to support the family, it was about income not keeping up with costs which forced them to borrow against future income even with mom working. In 1978, Marquette Nat. Bank v. First of Omaha Svc. Corp. was decided in SCOTUS which untethered banks to state usury laws allowing them to charge interest rates well beyond what was regulated by states. By itself and not considering interest rates, the cost of living rose faster than salary increases for the two income family. https://harvardmagazine.com/2006/01/the-middle-class-on-the-html
Of course interest and borrowing was a factor. The bigger factor was income to the two – income family which did not keep up with increased costs.