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Economic Literacy and Rational Voters
Real Clear Politics ^ | 01 August 2007 | John Stossel

Posted on 08/01/2007 6:22:03 AM PDT by Titus Quinctius Cincinnatus

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To: Toddsterpatriot; econjack
Economic ignorance doesn't surprise me.In a discussion once with a college graduate about the minimum wage increase being debated at the time. I explained to him how it destroys jobs, increases inflation etc. and he asked me in all seriousness, "Why not just have the government print more money"?

For anybody that ignorant, there's no point in trying further.

21 posted on 08/01/2007 9:09:00 AM PDT by Graybeard58 (Remember and pray for SSgt. Matt Maupin - MIA/POW- Iraq since 04/09/04)
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To: Toddsterpatriot

Believe it or not blue collar workers understand that if their factory is losing money or technology improves and obsolete their products that they have to move on. No one disputes that. During the Reagan years when heavy industries closed due to competition form Japan, Brazil and South Korea, many blue collar workers tell their kids that there is no future in the factories and go get a college degree. Many of these kids were told by corporate America that the future lied in service jobs and high tech jobs. Many kids of blue collar families did go to college. Today many of them are in their 40’s, facing lower paying H-1B workers and off shoring tech and service jobs in a career field that was suppose to be the future for American workers. The last 15 years there career paths/salaries followed a saber tooth pattern until they are in their late 40’s were age discrimination becomes the new salary barrier. Those who did not go to college faced a shrinking job market and the remaining jobs are being displaced by illegal immigrants. Are these conditions caused by the changing world, yes, but could they be moderated by our leaders/CEO who made a ton of money on this new world global economy, yes, but it will not happen because our current corporate leaders want to eek out every dime and buying the politicians to make it happen. You are right change is coming and it ain’t going to be pleasant for the globalist and free trader politicians and advocates. Scuttling the illegal immigration shamnesty bill is the openning rounds of that change. The free trade agreements are next!!!!


22 posted on 08/01/2007 9:16:07 AM PDT by Fee (An American empire can only be built by leaders with the stomach of Romans.)
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To: Fee
Life is hard. Especially for people who don't format.

The free trade agreements are next!!!!

More expensive goods, for the blue collar workers!

23 posted on 08/01/2007 9:18:13 AM PDT by Toddsterpatriot (Why are protectionists, FairTaxers and goldbugs so bad at math?)
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To: Graybeard58

You can’t fix stupid.


24 posted on 08/01/2007 9:19:24 AM PDT by Toddsterpatriot (Why are protectionists, FairTaxers and goldbugs so bad at math?)
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To: Toddsterpatriot

If what you say is true, how come with the lowest employment numbers, growing economy, soaring stock market, people overall feel this country is headed in the wrong direction? The Dems understood this in 2006 and were able to field conservative populist candidates in mill town districts in the South and MidWest to beat the GOP incumbents. If the Dems (not likely to happen) adopted an anti illegal immigration stance, they will have the winning combination for decades to come (economic populism and anti illegal immigration). I am waiting to see which party lead by Yale/Harvard elites will figure this out. Right now I would lean toward Democrat figuring this out, because a number of their recent winners are from the anti immigrant south and midwest. They own half of the winning issue (economic populism) and it is a matter of time before the southern Dems will add illegal immigrants to their policy platform. They just need to figure out how to nullify their left wing in order to do that. The GOP will stubbornly cling on to their losing globalist/free trade policies and lukewarm on anti illegal immigrants. If they do not change soon, the Dems will win the race on adopting the two key domestic issues to win elections after elections. If neither party figures it out and the American people become weary of the polticial deadlock, then the first Third Party to figure it out will take the day.


25 posted on 08/01/2007 9:46:42 AM PDT by Fee (An American empire can only be built by leaders with the stomach of Romans.)
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To: Fee
Unreadable.
Here are some helpers.
<P><P><P><P><P><P><P><P>
26 posted on 08/01/2007 11:01:46 AM PDT by gcruse (Let's strike Iran while it's hot.)
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To: Fee
If what you say is true, how come with the lowest employment numbers, growing economy, soaring stock market, people overall feel this country is headed in the wrong direction?

Stupid people listening to the MSM.

They own half of the winning issue (economic populism)

It's true that economic populism made Pat Buchanan a successful two term president.

and it is a matter of time before the southern Dems will add illegal immigrants to their policy platform. They just need to figure out how to nullify their left wing in order to do that.

That's funny! Thanks.

After being here for nearly 7 years, you still haven't learned how to format? LOL!

27 posted on 08/01/2007 11:36:46 AM PDT by Toddsterpatriot (Why are protectionists, FairTaxers and goldbugs so bad at math?)
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To: Toddsterpatriot

But you don’t understand! We need Duncan Hunter to save us from the fur’ners!


28 posted on 08/01/2007 11:43:05 AM PDT by Titus Quinctius Cincinnatus (Fred Dalton Thompson for President)
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To: Titus Quinctius Cincinnatus

Only if Ron Paul is his VP.


29 posted on 08/01/2007 11:43:54 AM PDT by Toddsterpatriot (Why are protectionists, FairTaxers and goldbugs so bad at math?)
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To: Toddsterpatriot; Fee

A higher percentage of Americans own their own home today than ever before.


30 posted on 08/01/2007 12:00:08 PM PDT by metesky ("Brethren, leave us go amongst them." Rev. Capt. Samuel Johnston Clayton - Ward Bond- The Searchers)
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To: tcostell
My personal favorite was that each person’s vote should be multiplied by their prior year’s tax return. If you paid a lot, you get a lot of say, otherwise you get less, or none, if you were a net recipient of largess.

Excellent idea! It's a conflict of interest for recipients of largess to vote on largess.

31 posted on 08/01/2007 12:09:25 PM PDT by cynwoody
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To: Fee
how come with the lowest employment numbers, growing economy, soaring stock market, people overall feel this country is headed in the wrong direction?

Are you kidding me!?!? People feel this malaise because it's being pounded into them by the Democrat congress, print media, TV news, even radio news... The inflections, the lifted eyebrow, the whole woe-is-us 'tude permeates the editorial pages of the papers, the screaming heads on every 24/365 "news" channel.

But if you take a ride around "Anytown USA" all you see is cars and commerce, amazing growth even in socialist havens in the NE.

It makes the weak schizophrenic and vulnerable.

Small wonder the American psyche is on suicide watch.

32 posted on 08/01/2007 12:20:04 PM PDT by metesky ("Brethren, leave us go amongst them." Rev. Capt. Samuel Johnston Clayton - Ward Bond- The Searchers)
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To: MrB
I must admit, I haven’t. I re-tooled myself in the 80’s in the computer field and haven’t taught econ since 1992.
33 posted on 08/01/2007 2:06:58 PM PDT by econjack
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To: Graybeard58
...he asked me in all seriousness, "Why not just have the government print more money"?

Wow...how sad is that? Most schools require at least one econ course for all students. He must have slept through most of it.

34 posted on 08/01/2007 2:08:42 PM PDT by econjack
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To: metesky

BS. People had time to review what has happened to them personally. Nobody trusts corporations because the sense of nationhood means nothing to them and the workers who helped them make billions means nothing to them. Who sold the guidance technology to China, it wasn’t the Loral working man. Who hired illegal aliens and pressured INS thru complaints to their Congressmen when raids were conducted during the 1980’s, it wasn’t the American worker. This actually lead to the suspension of raids where the INS compared SSN to employer records. These raids were restarted two years ago. Guess who benefited during all those years when the raids were on hold, the corporations. Who was pushing for amnesty for illegals, it wasn’t the working man, it was corporate America. When amnesty was considered, guess who also wanted amnesty for not paying back federal and local taxes (because corporations became concern that if an illegal alien starts to pay his back taxes under the amnesty bill it may lead to an audit back to his employer) while most of us were busting our buns to meet the 15 April deadline, corporate America. When a company is going bankrupt, the CEO can still retire with bonuses in the 100 of millions, when you screw up and forced to retire, does your employer give you a handsome bonus???? Corporate leaders failed to lead and the government failed to look after the average American’s interest. Just look at the many underfunded retirement accounts that were suppose to be maintained so it can pay the workers the pensions they were promised. Who do you think resisted government attempts to keep the funds solvent thru increased premiums, corporate America, and guess who let them get away with it, the government. The average American sees this at his workplace, and hears about it from ther working relatives, neighbors and friends. They don’t need the MSM to report it to them. The free traders and globalists are trying to convince the working man to blindly trust the motives and designs of our beloved merchant class. People are not that stupid. They know that their jobs and standard of living are temporary, all of it could be swept away by a corporate decision to off shore their jobs, bring in lower paid H-1B workers to replace them or close the entire factory/center and move it overseas. This can all happen even if the company is making record profits. Famous incident happened when Bill Gates visited a university urging many of the young students to become computer and software majors. Gates lamented that there has been a drop in American software/computer graduates. A student raised his hand and declared to Gates - “I will switch majors to become a software engineer if you promise not to outsource me”. Gates stood silent because he knew the truth and had no response.


35 posted on 08/01/2007 3:29:33 PM PDT by Fee (An American empire can only be built by leaders with the stomach of Romans.)
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To: devolve; Titus Quinctius Cincinnatus; ntnychik; PhilDragoo; dixiechick2000

A few years ago I was watching Jay Leno do one of his interviews on the street. He had a group of younger school teachers and was questioning them about politicians or American history in general.

They were mostly clueless! Stood there laughing, giggling and not knowing most of the answers!

I was astounded!


36 posted on 08/01/2007 7:15:00 PM PDT by potlatch (MIZARU_ooo_‹(•¿•)›_ooo_MIKAZARU_ooo_‹(•¿•)›_ooo_MAZARU_ooo_‹(•¿•)›_ooo_))
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To: econjack

It’s probably too elementary for an econ prof, but it had so many “aha!” moments for me while I read it. I didn’t look at any issues the same after that - I have many “duh” and “of course” responses to what others see as peculiar responses to incentives.

Anyway, it’s a short read, and should be required reading for anyone that is an economic “progressive”, though they’d probably short out.

No numbers, just common sensical explanations of economics as predictable responses to incentives.


37 posted on 08/02/2007 5:23:07 AM PDT by MrB (You can't reason people out of a position that they didn't use reason to get into in the first place)
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To: MrB
I know what you mean. When I was teaching, I required my students to read the Wall Street Journal’s “Review and Outlook” editorial every day. It’s a great source for those “flat forehead” moments—you know, where you take the heel of your hand and slam it into your forehead while saying: “Why didn’t I see that before!”
38 posted on 08/02/2007 7:14:58 AM PDT by econjack
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To: Titus Quinctius Cincinnatus
People vote for Democrats because they're spending someone else's money. There's no incentive to vote in a rational manner because you're not the one that has to foot the bill.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

39 posted on 08/02/2007 7:18:48 AM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Fee

Will your union protect you?


40 posted on 08/02/2007 8:03:21 AM PDT by Toddsterpatriot (Why are protectionists, FairTaxers and goldbugs so bad at math?)
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