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Video: The American Dream is Vanishing

Troglodite Wrote: Aug 10, 2012 7:42 PM
Some smart scholars have claimed that the American dream started to vanish when Nixon, inheriting and continuing LBJ's policy of "guns and butter," took the U.S. off the gold standard. More and more since then, our policy has been one of printing money and going into debt in order to maintain a high level of consumption. (That applies to the Feds, state and local governments, businesses, and individuals.) The model was bound to be unsustainable and is now in the terminal stages of becoing unglued. Some conservatives and libertarians may understand; liberals have not a clue.
z Wrote: Aug 10, 2012 8:03 PM
You're (almost) quoting Karl Marx.
z Wrote: Aug 10, 2012 8:03 PM
(He was a brilliant economist/sociologist/philosopher/historian - so no offense.)
Troglodite Wrote: Aug 10, 2012 8:13 PM
No offense at all taken. If, per accidens, I happen to agree with Marx, I will not change my mind just for that reason. Of course, I think that I come at it from a somewhat different point of view: we have been using the dollar's status as the international reserve currency to maintain levels of consumption higher than warranted by our productivity. We have justified this with nonsense about how "the American consumer is the locomotive of the global economy" and about "a mature service economy" and, of course, about how we owe it to ourselves. This cannot go on forever--so it will eventually end.
Buck O Wrote: Aug 10, 2012 8:24 PM
Really, zippy? Which part of what Marx wrote is he quoting.
Georgia Boy 61 Wrote: Aug 10, 2012 8:43 PM
Z, Marx was correct about a few things, but very, very wrong about many more...
MudontheTires Wrote: Aug 10, 2012 11:56 PM
"(He was a brilliant economist/sociologist/philosopher/historian - so no offense.)"

Marx was a selfish nutcase(like most progs) who refused to provide for his family. 3 of his 7 children died in childhood from neglect.

The American Dream is still alive, but not for long warns Daniel Garza, Executive Director of The LIBRE Initiative, an organization committed to increasing economic freedom particularly in the Hispanic and Latino community. In the video below Garza shares his family’s story of climbing the economic ladder in America. Today, however, the path to freedom “is on the verge of vanishing,” he says.



“My parents’ American dream had become a reality. My family and I have succeeded by following the path to freedom but...