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URL:  http://boards.fool.com/cncquotthere-was-a-reduction-of-poverty-in-the-30932630.aspx

Subject:  Re: More Shutdown Fallout Date:  10/20/2013  12:19 PM
Author:  telegraph Number:  18690 of 19483

CnC:"There was a reduction of poverty in the 50's and 60's."

The 1950s was fueled by the simnple FACT that the manufacturing base of the US wasn't destroyed in WW2 and we simply turned that to producing consumer goods, plus....

we had a great base of HARD WORKING people after WW2 - the 'greatest generation' who WORKED HARD and produced.

Of course, poverty plummeted as everyone pursued the American Dream and lived within their means. Almost no one 'lived on credit.

I grew up in the 50s and 60s. It was a great time.

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" The frantic build-up of military prowess provided employment on a grand scale, With the end of the cold war, the stimulus (military buld-up) slowed. "


The cold war didn't end till Reagan, right ? In the 1980s.

You forgot the oil shocks and depressions of 1966 and the 1970s...several of them!......

And the Korean War and the Vietnam War.

We had 40% stock market drops, high unemployment in the 70s....and the Cold War was still raging with the Soviets....

You need a history refresher.

The War on Poverty began with the progressive Johnson, who also screwed up the Vietnam War.....badly...... got suckered into it by business interests and the Catholic church out to preserve 'the south' against those godless commies.

Once the War on Poverty started we spend a trillion dollars...and poverty has increased year after year thanks to that program. It took away personal responsibility and made folks dependent upon government handouts.

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CnC:" With the "Peace Dividend, the number of military-based companies shrunk, aong with the associated payroll."

The Cold War didn't end till Reagan ended it with a spending binge on Star Wars and everything else. We outspend the russians. They collapsed then. We will in 20 years.

It was the invention of the PC and software that spurred what happened in the 1990s....and much of that was spun out of the development of technology during the Cold War...


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Cnc:"That, along with the increased capability to export jobs to third world countries stunted job growth in the US."


Heh heh...heard that so many times and that is so wrong...first it was Japan is going to steal all our jobs....they could build transitor radios and TV sets cheaper than we could...... look at them now....a country in ruins financially.....a society slowly bleeding with too many elderly and too few young.....

What has caused lots of jobs to flee.....high energy prices due to oil shock and NATURAL GAS shortages during the 1970s. NG hit $15/mcf or 4-5 times the current price. Energy intensive business fled quickly to cheaper locations. Steel, plastics, foundries, etc. that was the start....

then, of course, regulation here helped cause another bunch of companies to flee..that and strong unions with gold plated benefits and union work rules that bloated payrolls and impeded productivity gains. Why fight obstinate unions? Move the jobs overseas

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CnC:" At first it was only the lowest level of employment that was hit, but by now we export all levels of jobs, from manufacturing to engineering, and more."

Wrong..first it was energy intensive business followed by 'the electronics' assembly business...... then call centers and manual labor jobs like equipment assembly and appliances.

High union labor was always a contributing factor.
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Cnc:"It's an overall good that countries in southeast Asia and Latin America are finally joining the technology era. Too bad we (0ur masters) can't keep up with them."

Yep, and there's a billion Chinese who want to own a car and have a refrigerator and an air conditioner and a big TV set....and will....if they have their way.


The US standard of living will decline as we borrow ourselves into financial health.

The sound economies are ones where people SAVE and the government doesn't borrow. Think China and India.

Don't think Europe and the US.



t.
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