We are better off than we were 6 years ago!

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George Will destroyed obamas better off comments, but i cant embed the video, here is a link to the video, followed by the transcript.

http://www.realclearpolitics.com/vi...ama_is_practicing_trickle-down_economics.html

GEORGE WILL: The president went to the state of Illinois to brag about the economy. Illinois has 300,000 fewer jobs than it had in 2008. For the last four years in the state of Illinois, the number of new food stamp recipients has increased twice as fast as the number of new job recipients. He was speaking in Illinois on a college campus. He did not mention that 40 percent of recent college graduates are either unemployed or underemployed -- that is, in jobs that don't require college degrees -- and one in three recent college graduates is living at home with their parents.

Now, the president, we just heard, disparage trickle-down economics while bragging about doubling the stock market value. He is practicing trickle-down economics by doubling the stock market. He, and, for six years now, and most recently under his choice to be head of the Fed, Janet Yellen, have had zero interest rates, the intended effect of which is to drive people out of bonds and into assets like farm land, but particularly into stocks. That is why this has been a boon to the 10 percent of Americans who own 80 percent of all the directly owned stocks. And this is why 95 percent of the wealth created in the last six years have gone to the dreaded top one percent.
I never thought I'd see the day Will would admit (albeit by accident), that we have a distribution of ownership problem. Good job, George.
 
"In fact, the primitive community, far from being happy, harmonious, and idyllic, is much more likely to be ridden by mutual suspicion and envy of the more successful or better favored, an envy so pervasive as to cripple, by the fear of its presence, all personal or general economic development. The German sociologist Helmut Schoeck, in his important recent work on Envy, cites numerous studies of this pervasive crippling effect. Thus the anthropologist Clyde Kluckhohn found among the Navaho the absence of any concept of “personal success” or “personal achievement”; and such success was automatically attributed to exploitation of others, and, therefore, the more prosperous Navaho Indian feels himself under constant social pressure to give his money away. Allan Holmberg found that the Siriono Indian of Bolivia eats alone at night because, if he eats by day, a crowd gathers around him to stare in envious hatred.

If every time someone saves more, he is pressured to relinquish his “excess wealth,” that can only discourage savings."
http://www.lewrockwell.com/2014/10/dan-sanchez/the-greatest-economic-comic-book-ever-written/
 
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