patrick.net

^ yup, plus until 1970 we actually, literally owned half or so of the oil in the mideast. Then the camel jockeys decided it was their oil.

Plus from 1946-1974 China was an economic black hole and not a trade competitor. Japan was more of a junior partner 1950-1980, until the strengthening yen increased their global footprint by an order of magnitude.

The rise of a middle class in India and their plugging into our economy via the internet is another dimension of this puzzle.

How can a guy with a $500,000 mortgage compete with a well-paid, for India, dude making $15,000 a year?

Japan was cleaning our clocks with the 250 yen exchange rate.

Remember, Volcker's 20% interest rates strengthened the dollar since funds wanted in for a piece of that action.

The Plaza Accord of late 1985 reversed this and restored some balance between Europe and the US at least (Japan didn't want anything from us).

http://en.wikipedia.org/wiki/Plaza_Accord

The North Sea oil coming online in the mid-late 80s tanked the price of oil, which also helped.

You asked why in the post-Reagan era things are so out of whack.

Looking at this chart it's clear to me that the Bush administration inherited an imbalanced system, and in their inimitable way did absolutely nothing to address it.

When I left the US in 1992 "Made in China" was a rarity. When I came back in 2000, it was a trend. By 2006, our entire economy was Made in China, or so it seemed.

http://www.cnn.com/2003/ALLPOLITICS/01/22/bush.boxes/

You keep jumping around. First to the japanese then the germans. Vw was the only volume car producer in germany in 1960. That means that 739,443 beetles was pretty much the entire output for all of germany for worldwide sales. How can you compare that to one model of car from one division of one american car company and say that the national auto industries were in any way shape or form comparable? That's just nonsense. American car companies sold over 6 million cars domestically alone. Japan's gdp in 1960 was 16 billion the US was 980 billion. The average japanese worker earned 10% of the average american worker in 1960. You really don't believe that Japan (and to a lesser degree Europe) was still recovering from WWII at this point? Japanese growth really took off in the 60's averaging about 10% a year, but prior to that they were struggling.

No our markets would not have been flooded with imports. The manufacturing capacity simply didn't exist overseas prior to the 1960's. That's a simple fact.

^ sure, I agree with that. The wealthy have interest earning interest earning interest now. At work a coworker was talking about how he got to pal around down in Carmel with a Johnson & Johnson fortune moneyed dude, how the dude's intergenerational wealth was simply throwing off cash too fast to humanly spend.

When 10% of the country owns 70%+ of the wealth (and more of the actual capital wealth), you're nearing the event horizon of feudalism and wage slavery.

All Clinton did was add two tax brackets to mildly redirect upper middle class and above incomes to the public sector, no Republican voted for this, and their doomsday fearmongering posturing BS did not come to pass. The opposite, in fact.

Anybody making more than $500,000/yr is making more than wages from labor. They're welcome to go Galt, in this economy somebody hungrier will be more than happy to take up the slack.

Why was this dusty thread resurrected?

Well Duck, it's like this, not all taxes are bad. But, when the government grows like really, really big and spends like billions and billions that turn into trillions on worthless endeavors, it might be time for the government's citizens to do their duty and question their government, or worse, hold them accountable for what they are doing with the PEOPLE'S MONEY. In your little, trusting, obedient world, that may not be a good thing to question your government. But in my world, I somehow was led to believe we have a government for the people and made up by the people that is answerable to the people. If you want to define that as "anarchy," be my guest. The problem with people like you is that you actually believe the best government is one that governs most; the antithesis of what Jefferson declared. I guess that makes Jefferson an anarchist too. LOL

I'm shocked beyond all description. Here all along I thought Obama was a radical lefty and now you're telling me he's actually Ronald Reagan in sheep's clothing. I did read somewhere Obama was reading up on Reagan ... this plot is beginning to thicken. And you know something else? Nancy Reagan was telling the dope heads to "just say no" and Michelle Obama is telling the fatsos to "just say no" and the more you think about it, the Obamas are acting like the Reagans, etc. Thanks for pointing all this out Ducky.

I just can’t believe anyone really pays 45% in the USA. I don’t see how it’s possible, even in California.

I'm in that very annoying spot where I paid out 42% last year in taxes. I guess it's a cost of doing business, in CA there is an added tax for certain corp entities.

Because our "representative" government is very corrupt and one sided. They skim money off the taxpayers and only represent those closest colleagues who provide them large donations. CA union thugs are the most disgusting political bribery ever. All while under pretense of helping the poor.

Every time in CA there is a talk about cutting some union benefits, unions spend millions of our tax dollars on attack ads defeating the measure. It's really disgusting.

Lately government went out all socialism for the hedge funds managers and financial tycoons, started picking winners and losers. BofA and GS - too big to fail. WAMU and Lehman - not in that club.

bob2356 says

Why do you insist that giving away his business is the only way wealth could be redistributed. Typical right wingnut tactics.

http://en.wikipedia.org/wiki/False_dilemma fallacy.

Troy says

bob2356 says

Why do you insist that giving away his business is the only way wealth could be redistributed. Typical right wingnut tactics.

http://en.wikipedia.org/wiki/False_dilemma fallacy.
“Nessuna soluzione . . . nessun problema!„

So what's the fallacy? That there is more than one way to redistribute wealth (ie higher taxes vs confiscation vs philanthropy) or that the right wingnuts usually insist on phrasing everything in ridiculous terms without ever providing any type of response to direct questions.

RayAmerica is actually a left wing extremist, planted on this forum to make the right wing (extremities) look even more stupid than they are. This is no small task, and we should all be grateful.

tatupu70 says

You can’t be this stupid.

Why can't he be?

marcus says

RayAmerica is actually a left wing extremist, planted on this forum to make the right wing (extremities) look even more stupid than they are. This is no small task, and we should all be grateful.

Marcus as a taxpayers employee (since I pay your salary through taxes) you should be a bit more grateful to those who work hard so that you can have a job with a salary. If people like Ray move to another state and stop paying taxes here, you'll be begging for hand outs again. When money dries up, its you on the chopping block not your glorious union leadership sitting cozily on top.

Hey, I must say it is way the heck faster to load only the 40 latest comments than to load 517 comments.

I'm thinking that my new comment pagination scheme is definitely worth the Sunday I spend on it.

kentm says

Why do you hate the gov?

GUBMINT did not ASK for the money to stop declining home prices.
(as if they could set home prices)
They stole it, Wagged the Dog, smiled confidently, and said, " RE-ELECT ME " .

I have worked at Auto Repair Shops that take advantage of customers ignorance.
I Spoke to an Engineer working on "Devil's Slide" last week.. I quote, "Talk about ripping off the taxpayer" !
Gubmint waste is beyond comprehension.