We all know it costs the lives and health of our soldiers, but when old men send young men to war, it costs huge amounts of money too, and now that we’re in a recession, we have to ask ourselves: Was it worth it?
Over a decade after the invasions of Iraq and Afghanistan, our coffers are empty, after spending billions of dollars on those two wars.
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Every month, the US economy becomes more automated. Robots can cut manufacturing costs, but the problem is that they can’t SPEND any money (NOTE: Subscribers can still listen to this show), so the items they create may go unsold. It’s just another example of how income inequality causes recessions.
German and Japanese factories are largely staffed by industrial robots, and China is catching up: A restaurant in northern China has become the first to have only robot waiters.
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If there isn’t a big enough middle class, it hurts EVERYBODY (NOTE: Subscribers can still listen to this show), because historically, times like this have led to recessions and even depressions. This is because middle class consumers are our biggest spenders–not the rich–and they keep the economy going, creating jobs.
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During the recent financial crisis, it was the very people you’d think would KNOW BETTER who went most deeply into debt–the BETTER EDUCATED consumers!
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