Up w/ Chris Hayes panelists Karl Smith, assistant professor at the University of North Carolina at Chapel Hill; Betsey Stevenson, former chief economist in the Obama Labor Department; Dedrick Muhammad, senior director of the Economic Department at the NAACP and guest Peter Schiff, former economic adviser to Ron Paul's 2008 presidential campaign, discuss the asymmetry of political pressures on the Federal Reserve.
You're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
Over the past decade, Americans watched in bafflement and rage as one institution after another – from Wall Street to Congress, the Catholic Church to corporate America, even Major League Baseball – imploded under the weight of corruption and incompetence. In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters.
How did we get here? With "Twilight of the Elites," Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it.
Leave a Comment:
Some body get the hook!
There is one elephant in the room no one addressed - the deleveraging that needs to occur. In other words, the awful personal debt we got into over the last 30 years that we decided we wanted to pay off - student loans, mortgages, credit cards. And we got into that debt to maintain a standard of living commensurate with the increase in GDP while not being paid more.
So now we are living within our means (personally) and the ober wealthy are complaining because we are not consuming their output. Yet "they" are sitting on $2T of cash with nothing to spend it on. Until they share that cash wad with consumers, we are going nowhere.
Now a little inflation will "reduce" the value of the debt (not numerically), return to earlier tax rates on the wealthy that will pay for their share of education, nation defense, court system, ... that is so essential for their wealth. (If they don't like it, they can go to Mogadishu to run their business.)
What a piti this talkative Mr. Schiff stole the time from
other interesting guests and their view points. My Family is so disappointed.
Chris Hayes has a quick mouth- and armwork: Develope a personal way to use one hand as a very CLEAR STOP!(in reserv also eyecontact and finger-on-lip-sssh) - then a quick free hand to an other guest as a Come-Come-Please-Go-on-Speak
What do we know today? Well, we know there is a god, no matter how small, insignificant, and inconsequential he or she or it may be. We know this because no one brought up the "GOLLLLLLDD STANDARD. If some one had, Little Moses would have come out from behind The Burning Bush (1 or 2) with a Les Paul guitar and started singing "Where is my sunshine." That's not a question. It's a fact.
I'm not generally one of those who jumps on the "why did you have someone who is to the right of the rest of the panel?" bandwagon, but this morning, I have to say, I was truly stunned to see Mr. Shiff on the show.
Ron Paul supporters have made a reputation for themselves as "winning arguments by being the loudest voice in the room".
Is that really what you want on UP?
Someone needed to stop Schiff from interrupting every other guest and making their presentations disjointed. It's not always the host. A guest can say I didn't interrupt you, now let me speak.
Please don't invite filiburstering Paultards back to the show.