but first
it now are trying to sell it
or are not going to write a seven-hour colours that when you look at the
thirty-four richest countries in the world the organization economic
cooperation of all the deal e_c_ countries
and you look at the relative well of their middle classes
were numbered twenty seven
you thought we were number one
we thought we had the strike is felt was the world but we did before reagan
but we don't anymore twenty to gain of thirty two years of reaganomics we're
now number twenty seven austin peterson is on the line is the director pressure
her freedom worst remarks dot org
the website
and uh... austin
here we go out uh... you noted thirty two years of reaganomics thirty two
years of neil libertarian philosophy thank your libertarianism weed is called
feudalism we we haven't completely gotten there but we're moving in that
direction
this is what a brings us
you know and i was still fairly i mean if you think about and look at the
countries that are above us who wants to live in cyprus kuwait at our current us
address
yeah it's a good sides servers and that what they're not doing very well with
the currency right now they've got a big problem but the problem is not with the
distribution of wealth
the problem is who has access to the nonetheless offers full-time cypress has
is that they have an economy dependent on bank srs
the you know that there are times when writing love is based on a dime another
you know hiding banking things and that's like not good
it's not about hiding baking things that's about the valuation the currency
and non transparency of their banking system you see people all over the world
have been or that they need a central bank in order to manage their money
supply but what happens is that when you give the banks control the money supply
you see what they do time and time again the secretaries at the bottom of the
pile with us in kuwait and australia is a very hot
and it's a transit set up a little bit federal elections at the site at the top
of that no one thousand uninhabited without a but japan is not be began of
innovation that they used to be because of their central banks your member
during that buoyed by the nineteen eighties the reaganomics that u
but you said the spies there was a great inflationary period that happened in
japan what happened was
when those banks were when those banks finally collapsed because of the weight
they had me when he and and that is on the part of those banks by bailing them
out and we are doing the same thing here in the united states
i mean i would rather live in the united states and japan because at least we
have innovation here in the united states but if you want to talk about
well stratification you have to look at the monetary policy these countries are
young and i think this adding this is an article by israel
it does because what happens if not in the middle class has to pay a higher
percentage of their income into necessities group of the richer people
who don't care about inflation because the middle class they they don't have to
spend as much money are you have inflation right now on to mrs
is what you're suggesting is that our middle class has been wiped out by
thirty two years reaganomics
because basic while we don't have any related into new and emerging our
currency has been deflated when in fact ya those top one percent are doing just
fine thank the top twenty percent are doing just fine but are you rail against
the uh... be financial leader new rail against gangsters and then you say that
there's no inflation when you know for a fact that goods like gasoline
and milk and other essential items that people have to buy have been rising at a
rate of five to eighty percent
so if you say there's no no no we are doing world you're taking home around
ordinarily government you're carrying a garage arabic as there is a zero things
you need to the united states
they're not unique united states and therefore that's not why were number
twenty seven in the world were never twenty seven in the world
disease used to be
that that that the wealthy people in america earned about thirty times with
the average worker did the c_e_o_'s are about thirty guys with the average
worker did and the reason they did make the dinner more than thirty times was
because when you get thirty times the average worker's salary then a seventy
four percent to income tax rate kicked in and people didn't wanted pay that and
so they just said you know i'll just sold for three million dollar your
income that's enough i mean that's a c_e_o_'s used to make lee iacocca
famously made you know uh... yeah a dollar a year for one year in a million
dollars year after that ambulatory slowly turning down a bit was the
problem is is that if you're looking at well disparity you're forgetting about
class mobility
and so we're assuming you're assuming that people who have cohort has worsened
the have-nots are always the past and what happens is we don't really know
they are in the united states because we have but we have this drastically since
reagan reduced social mobility
now we have more social mobility then we had some for reagan we do know interest
if you have a large there are an easel asher months is a hostile at the same
people don't always social mobility is down in the united states in fact the
united states the u_k_
of the of the thirty four o_ e_c_ countries
united states the united kingdom ends and um... uh... what's a singer port are
the three worst
well what you want to do is you want to talk about what is well stratification
and if certain people in certain countries
r_r_ are closer to the rich iden will go to matter if you're living in a poor
country elsewhere vacation is a function of taxes
now it's wet ish as a function of our trip although it's a it's a function of
how money is distributed in the society in the major variable that determines
how money is
distributed society
is taxation well i don't understand what how it is that you can rail against the
bank srs and then go ahead and spew their propaganda by saying that there's
no inflation
you sit there and you say that your champion of the people you come here to
get going back to larry was related to a tiny slice in argyle as strong an
argument about right now i sensed income from a meeting from rock obama right now
because ben bernanke you well this you know this is their days are there
talking points about what their plight hilarious read something that
by cutting taxes from seventy four percent down to twenty eight percent
for people making over three million dollars a year on their three million
and first
when going from ceos making thirty times at the average worker makes to making
six hundred times the average worker makes but that had no impact on the fact
that are middle class has gone from being the strongest in the world before
reagan to number twenty seven dot authored a lot of the thirty four
richest countries now
know what i'm saying is that the rich people in this country are gonna hire
less people and there's going to be a lesser were middle class because there
is no as an outside policy
you're not you're not talking economics time you're just saying that which
people don't hire people because of how much money they have a higher people
for businesses don't have any has this demand even after services if you have a
lot of people who are business practices are dumb
economics is a social science okay it's not a perfect side to start mathematics
you can't just say okay with these people have a lot of money so we're just
gonna take it from and then give to other people that say economics that's
just that's been communism now that's that's not a theft nor communism that
that is status quo resin tech session
and all the other countries the world that has stronger middle classes than
ours
like australia austria in australia and canada and france in norway in finland
in great britain and and iceland and and belgian animal in japan letter they all
have off straddles the all-out higher tax rates anyway on that our air waves
right then we do
what about the middle class in a bit they want to have a bit lower than a
prosperous democrats
now we want to stay middle class the wire and actually might have i got a
very happy early mother's illness in light of my daughter advanced auto
rental class
will ultimately go we have a middle class people we should inspire the
middle class to be the higher class we want people to go off and be rich people
call we don't want us to use force selling snake oil so you're telling me
that i represent all americans game can become billionaires
i'm telling you that should help of course not that it will be in town
that's what kind of nicer way and that's why we need to have all of us are
selling which the rotarians understand that economics the way that they weren't
worth is that there will be a simple stratification of wealth but that a
rising tide lifts all boats
uh... it's a nice slogan and has supposed works in the marina
but i don't think confidently that demonstrated that doesn't work very hard
to be displayed on the freemen stuff
thanks for being with us off