More Evidence Great Depression II Is Here: 30mm Unemployed in U.S. (19% of workforce)

[college_trad3r]

Quote from Ivanovich:

Please show me some study on any reputable site or periodical that states the United States of America is not considered the "first world".

it is well known the US is by GDP richest country in the world, but the riches are abnormally skewed to the 0,01% top earners who take 95% of the pie.

Income gap between rich and poor is excessive, which looks alot like third world countries who usually have large income gaps between rich and poor

 

[Ivanovich]

Quote from college_trad3r:

it is well known the US is by GDP richest country in the world, but the riches are abnormally skewed to the 0,01% top earners who take 95% of the pie.

Income gap between rich and poor is excessive, which looks alot like third world countries who usually have large income gaps between rich and poor

Please show me how other "advanced nations" rank in comparison between the rich and poor. Be sure to look at the number of middle class, too.

If you can't, then your opinion is irrelevant. Interesting, but irrelevant.

 

[Kassz007]

Quote from Ivanovich:

Kass,

I like you, mate, but having lived in Russia for years (in Moscow and having visited many other cities in all parts of the country) I can tell you it is most certainly third world.

It is true that it is nothing like, say, Rwanda or Somalia, but that doesn't preclude calling it a third world country. It is.

As an expat in Moscow, I was paid on a study (I forget the consultant study that most expatriates are paid under) that classifies countries in one of 4 buckets. The first being countries like the US, UK, France, Germany, etc...

The 4th bucket is Vietnam, Iraq, etc. Russia is in the third bucket (which incidentally results in a 100% hardship allowance on salary).

It's classified as third world. I wish it weren't, but it is.

Fair enough. You obviously have more Russian experience than I do. I think the confusion comes from my definition of third world country. As a previous poster has explained, third world countries are not the poorest of the poor, which I had assumed they were.

But no matter what your definition of a thrid world country is, the USA will certainly not get there any time soon.

It amazes me the amount of Americans who have no faith in their government/citizens to pull themselves out of this mess. I am not even from your country, yet I have great confidence in the USA to come out of this recession not as a third world country, but as a powerful nation.

 

[Kassz007]

Quote from Anaconda:

Retard,

You don't know WTF you are talking about. You never been to Russia, nor do you have any family there, let alone were born there. So just STFU. It is, right now, in third world status, again, as it was in 1990s.

Childish internet insults are not deserving of my reply.

 

[toc]

Government will keep throwing stimulus package after package to keep the daily going ons afloat.

This will certainly devalue the currency but the system will survive. The debt will slowly get reduced.

If anything, the recession can be prolonged, but Depression.........according to Economist Krugman has been averted.

 

[jjf]

Quote from Ivanovich:

Please show me some study on any reputable site or periodical that states the United States of America is not considered the "first world".

This is the worrying part, that you should feel the need to ask for proof.

There was a time not so long ago when this subject was not in question and now it is.

Surely that sets off alarmbells for people.

jjf

 

[Kassz007]

Quote from Ivanovich:

If the two of you cannot remain civil in your disagreements, I'm going to delete your posts. No reason that yet another discussion has to be thrown off track by a feud.

No worries. Childish beefs are not my style.

 

[ByLoSellHi]

Quote from Debaser82:

Will the US Become a Banana Republic?

by Marc Faber


http://www.lewrockwell.com/orig6/faber2.html

Fantastic article.


Thanks.


To Kass - Things are going to get bad enough in the U.S. where ordinary people will be unable to comprehend the dramatic decline in living standards they've seen in their lifetimes.

How that relates to some other third world nation is irrelevant.

To everyone: The gold standard of America's prosperity - a massive and prosperous middle class - is being wiped away right under all of our eyes.

So, the trend in America, regardless of how we currently compare to other nations, a rapidly shrinking middle class.

The BBC had a story on last night about the number of tent cities hosting formerly middle class citizens in the U.S., people with university degrees who were making close to 6 figure incomes, but who lost their jobs, health insurance and homes.

This is more than anectodal; it's becoming systemic.

The U.S. is headed for another depression.

 

[makloda]

Quote from Debaser82:

A panel of 24 of the nation's leading civil engineers

Seriously, you need to lay off the tinfoil hat.

Have you ever been to the US? It's a pretty damn good place to live in -- minus the taxes and crime. The cost of living is low, the standard of living is very high. The availability of high quality products and services is phenomenal and unmatched. If the US had an expat tax regime like the UK or Switzerland I'd have moved to the US a long time ago.

 

[GTS]

Quote from Debaser82:

I agree their conclusions are a bit strange to say the least but they had the most comprehensive criteria to form their 'ranking' on that I have come across

Take a look at this:

http://en.wikipedia.org/wiki/Human_Development_Index

The HDI combines normalized measures of life expectancy, literacy, educational attainment, and GDP per capita for countries worldwide. It is claimed as a standard means of measuring human development—a concept that, according to the United Nations Development Program (UNDP), refers to the process of widening the options of persons, giving them greater opportunities for education, health care, income, employment, etc. The basic use of HDI is to measure a country's development.