[CanadianFella]

Down the road, American citizens will be unemployed and forced down to lower levels," he said. "The (stockholders) aren´t benefiting, it´s only the executives.

WRONG. Economic ignorance is a bliss...

[NoControllingLegalAuthority]

Mister, I have seen it happening in 15 counties of Tennessee. Real jobs at living wages are being destroyed by sending the work to nations that pay slave wages. Real income of Americans is headed down as unemployment rates go up.

At the same time, illegal immigrants are taking many of the jobs still left for Americans to do. Illegal Mexicans live 20 to a house and sleep on the floor and work for half or less than do Americans. The only way Americans can compete is to live 20 to a house and sleep on the floor.

[RogueIsland]

WRONG. Economic ignorance is a bliss...

Actually, he has been proved right time and time again in the real world. Of course, those who prefer textbook pure economic models pretend the real world doesn't exist if it contradicts their pet thesis.

[Leisler]

Wasn't labor cheeper in India in the '70's? 1770's that is. And the 1870's and in the 1970's and every year inbetween. So, how did we get richer? This is where the "we stole from the American Indians" argument comes in.

Now I get it. D'oh!

[meadsjn]

Down the road, American citizens will be unemployed and forced down to lower levels," he said. "The (stockholders) aren´t benefiting, it´s only the executives.

WRONG. Economic ignorance is a bliss...

Please explain how the statement you criticized reflects ignorance.

The stockholders are not benefitting when eight trillion dollars is missing from the economy, as reflected by the devaluation of market equity. Five trillion of that lost money can be accounted for by the absence of the five million lost high tech and engineering jobs at an average of $100,000 salary with a multiplier effect of x10.

Since 70% of our economy is driven by consumer spending, this current depression can be directly attributed to this drop in consumer income since 2000.

The executives have benefitted because they operate on a hit-and-run principle. They contract for specific terms, make short-term decisions which rewards them at the long-term expense of their company and the overall economy, then they exit with their loot.

If economic ignorance is bliss, it will only be so temporarily. Repeating those tired cliches from a Danny Devito 'B' movie does not make for sound economic policy.

Rule #2: Second effects count.