A Quote by Barack Obama
If the global economy is unresponsive to people who feel left behind, if inequality continues to grow, then we could end up seeing more and more of these divisions arise throughout advanced economies around the world.
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We're grappling with the same issue facing all advanced economies - how to revive growth and distribute its fruits more fairly. An America that can tackle that problem head-on can perhaps help revive a stagnant global economy.
Seeing games become more of a young person thing, I feel like a toy I grew up with has been left behind. I don't want to. I want this thing to be respected by adults. I want this thing to be growing with me. It's important to have games that could be more nuanced and reflective of the real world and relevant to adults.
A possibility is that we see more and more leverage, and credit-to-GDP ratios rise once more to even higher levels; eventually the banking systems of all advanced economies reach magnitudes of 500 percent, 1000 percent or more of GDP, so that every economy starts to have financial systems that resemble recent cases like Switzerland, Ireland, Iceland, or Cyprus. That might be a very fragile world to live in.
The de industrialization of the US. economy based on the migration of corporations into third world areas where labor is very cheap and thus more profitable for these companies creates on the one hand conditions in those countries that encourage people to emigrate to the US. in search of a better life. On the other hand, it creates conditions here that send more black people into the alternative economies, the drug economies, women into economies in sexual services, and sends them into the prison industrial complex.
We're living in a world that's divided into two economies: the economy of the 1%, and the economy of the bottom 99%. I guess you could be more "centrist" and say the top 10% versus the bottom 90%. But there's definitely a stratification at work here.
What is certainly true is that the American people, just like the German people, just like the British and people around the world, are seeing extraordinarily rapid change. The world is shrinking, the economies have become much more integrated and demographics are shifting.
Destroying the nation state are mainly three things: the global economy, global communication technology and global culture. And this is where we are lost in the process. What could be something that can provide us a transversal political sense of belonging? At the end of the day, without an alternative we end up with populism in the name of very narrow identities.
Part of the reason we're all committed to coordinated stimulus is we want to stimulate the global economy. We're in a global economy, not just our national economies.p
The switch has been built. Maybe you trust Barack Obama not to throw that switch, and maybe you trust George Bush not to throw that switch, but as we look towards the future, we see inequality becoming more and more acute. We're seeing more and more protests against cops and this kind of thing. We're also seeing more and more natural disasters. We're seeing more and more environmental insecurity.
I live for that exhilarating moment when I'm in an airplane rushing down the runway and pull on the stick and feel lift under its wings. It's a magical feeling to climb toward the heavens, seeing objects and people on the ground grow smaller and more insignificant. You have left that world beneath you. You are inside the sky.
The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.
China is an old nation with a colourful history. Its booming economy has triggered an appetite and a curiosity around the world for its art and culture, one that continues to grow. I can, however, tell people that it is a show with no actor.
Becoming involved in sports and traveling the world and seeing how people of color were treated around the world, and America being such a great nation, probably the greatest nation in the world, I think that the thing that would destroy this nation more than anything is the inequality that we have amongst people of color.
The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).
The first commandment of economics is: Grow. Grow forever. Companies get bigger. National economies need to swell by a certain percent each year. People should want more, make more, earn more, spend more - ever more.
The first commandment of the Earth is: enough. Just so much and no more. Just so much soil. Just so much water. Just so much sunshine. Everything born of the Earth grows to its appropriate size and then stops.
Our view is that economic isolationism is the wrong way to go. Vibrant, successful growing economies that advance the interests of their citizens engage the global economy. And, we're committed to engaging the global economy.
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