Thread: Obama and the Middle Class

alloak41 - 7/26/2013 at 06:25 PM

President Obama is in the process of fundamentally transforming the 40 hour work week into 30 hours. How does this help the middle, lower middle and working poor? Millions will have their hours cut from 40 to 29 and most likely I will be one of them. Others will fall victim to staffing cuts, as companies seek to get below the 50 employee threshold. Good luck affording Health Insurance then!

If Obamacare goes into effect, this part will have a devastating effect on the economy and I fear it will ultimately lead to the creation of essentially two classes - Upper and Lower. The 40 hour work week has been the cornerstone of Middle Class America. Doesn't he realize that?




dutchoneill - 7/26/2013 at 09:55 PM

Of course he realizes but he's growing the economy from the middle out.

He said so himself.


dougrhon - 7/27/2013 at 02:54 AM

quote:
President Obama is in the process of fundamentally transforming the 40 hour work week into 30 hours. How does this help the middle, lower middle and working poor? Millions will have their hours cut from 40 to 29 and most likely I will be one of them. Others will fall victim to staffing cuts, as companies seek to get below the 50 employee threshold. Good luck affording Health Insurance then!

If Obamacare goes into effect, this part will have a devastating effect on the economy and I fear it will ultimately lead to the creation of essentially two classes - Upper and Lower. The 40 hour work week has been the cornerstone of Middle Class America. Doesn't he realize that?

He doesn't care.





jerryphilbob - 7/27/2013 at 03:18 AM

Isn't financial warfare fun ...

As many know, I work retail commission sales. Our numbers are still good, but we are just seeing fewer and fewer people in the stores. The upper middle class is still spending money, but our traffic is way down.

The middle class is getting wiped out.

I wonder what this little campaign tour is costing America? What a waste of time and money trying to convince everyone that everything is fine? I guess if he keeps saying it enough, even Obama will believe his own words. What a joke.

Too bad America hasn't figured out that everything they are telling you on TV is a lie. Turn that crap off. I don't care if you watch MSNBC or FoxNews, they are all lying to you about everything. It must taste good, America keeps drinking.


Fujirich - 7/27/2013 at 03:16 PM

While it is true that Obama's economic program (even calling it a "program" gives it too much credit) has been terrible for the lower classes, the real problem stems from how we're managing our currency. That means that the source of the problem is the Federal Reserve.

The cycle of events that happen in the life of a fiat money system means that the disintegrating value of the currency erodes what little wealth the lower classes manage to put together first. Without the knowledge, help, and volume to find investment opportunities fast enough to outrun currency devaluation, the value of what they have drops faster than they can replace it. They are on a treadmill that requires them to run faster and faster, and eventually tosses them off.

Like a Ponzi scheme, a fiat money system requires ever-larger currency creation to pay the interest of past debts. Fiat systems inspire spending via credit; especially by gov't. New credit means more future interest. When insufficient growth doesn't create enough new wealth to pay the interest, more credit is required. More fiat money is created, devaluing what is currently held. This leads to the Ponzi cycle where eventually hyper-inflation destroys the currency.

Combine this with poor trade, tax, regulatory, and legal policy, and the working classes have little hope. But not understanding these factors, they are easy prey for charlatans promising farcical ideas like "an economy built from the bottom up".

All the while, the $85 billion a month being created at the Federal Reserve is a firehose of money being thrown at the 1%, making the trickle down tax policies of Reagan look absurdly small by comparison. Of course, in Reagan's time, people were still investing their wealth primarily in the US, so there was some benefit from those policies. Three decades on, that is no longer the case, so much of this money flows overseas. What used to benefit our industries and jobs no longer does so because we have allowed the equation that inspires productive investment to be destroyed here in the USA.

I watch the President run out and give speech after speech standing in front of a select group of people, hand-picked to fit that day's agenda. I wonder if those people even remotely understand what is being done to them, and the utter hollowness of his words. I wonder if they would agree to stand behind this fool if they really knew.


mainebigdog - 7/27/2013 at 08:47 PM

fujirich,


you're right..the value of people's savings aren't keeping up with devaluation of the dollar because interest paid on savings is around 1% apr..what a joke


Fujirich - 7/27/2013 at 09:06 PM

Which is why people must risk their money in the stock market.

The central bankers manipulate interest rates to force people to place their money in investments they probably know little about. When the smart money (ie: the bankers) run out of the market and it crashes, who gets stuck? The average Joe's, who are busy living their lives instead of working and monitoring their investments every day.

I know lot's of people rolled their eyes at Ron Paul and all his references about sound money. But with sound money, these things don't happen. That's not to say there aren't economic cycles and fraud. But you don't have bankers with carte blanche manipulating and destroying everyone's wealth. Sound money keeps them - and politicians - on a shorter leash so that less harm is possible.


alloak41 - 7/29/2013 at 01:02 AM

A look at Obamanomics and it's effect on the Middle Class...

http://washingtonexaminer.com/middle-class-has-been-left-behind-by-obamanom ics/article/2533547


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