vania-janet/multiturn-rag-retrieval-data huggingface dataset:
First, you are describing trickle down economics; which has been disproved.  Since, the wealth gap in America is the highest it has ever been; and continues to grow.  Second, please provide your data to backup your point of countries slipping into poverty; because, of progressive tax rates.   I will give you one example contrary to your statements:  [Sweden](https://www.theatlantic.com/business/archive/2017/09/sweden-startups/541413/)  Look it up, generous government spending (from high taxes) have the put the Swedes in a great position.
This chart is full of shit. Iraq War costs barely register a blip.   [From NYT article](http://www.nytimes.com/2009/02/20/us/politics/20budget.html)  *WASHINGTON — For his first annual budget next week, President Obama has banned four accounting gimmicks that President George W. Bush used to make deficit projections look smaller. The price of more honest bookkeeping: A budget that is $2.7 trillion deeper in the red over the next decade than it would otherwise appear, according to administration officials.*
Are you fucking stupid or just retarded?  There isn't another country in the world remotely with the size of economy we have or that are starting wars like we are.  Do you understand that wars are 10-15 year commitments with tens of trillions ~~wasted ~~ stolen ?  I'm not going to argue with the flat earth society.. go troll someone else with your fantasy arguments.
Slippery slope logical fallacy. Nobody is talking about exceeding the GDP per capita, just increasing the minimum wage to a level where someone can actually survive without working 80 hours per week. As it stands, [there is not a single county in the nation where someone can afford to rent a 1 bedroom apartment on the current federal minimum wage](http://www.cnbc.com/2017/07/14/only-point-1-percent-of-us-minimum-wage-workers-can-afford-a-1-bedroom.html).
&gt; WTF is 'non-government' savings?  The non-government consists of the private and foreign sectors. That is, everyone not the government.  Every year the government pays the non-government (ie: us) more than it taxes us, our savings increases. Every year it taxes us more than it pays us, our savings decrease.  &gt; Its not a bad thing... unless interest rates rise.  The Fed sets the risk-free rate on USD, and there isn't much one can do with USD that's lower risk than loaning it to the US government.  It's for this reason that Japan doesn't run out of yen. The Japanese government's debt is just the huge pension funds accumulated by the risk-adverse aging population. Every year the Japanese private sector saves yen, the Japanese public sector is left dissaving it. It's not a problem though, as the Japanese government's no more going to run out of yen than the US government USD.
It's sad but, remember that if any thought is applied to this, the people who make the things that Chinese/Indian/Ghanan/Indonesian make for pennies on the dollar is that those people's wages will eventually rise enough that there can be a middle-class, at which point the companies involved simply move on to a country that does not have a middle-class or a higher-working class. Forever. That's...the multinational plan. Capitalism, remember, is a system based on unlimited expansion. It just is. No arguing round that one. And finally, 'fiscally sensible' means, to me, that a country retreats from the goddamn cliff it's on when it sees that if it carries on this way, it's truly, amazingly fucked. The debt ceiling fiasco earlier nearly plunged the world economy into recession, in spite of the fact that it should have been a done deal, something nobody anywhere got their tits up about. But no. Politicians literally ransomed it for things that they wanted that were kinda contrary to the interests of the US economy at large, and therefore the fucking WORLD economy at large. If the US had defaulted, it would have fairly literally fucked to rest of us. And I mean the other 670,000,000,000 people alive right now. All coz your Republicans didn't like a black guy. What? Barack Obama does things by pretty classical Keynesian economics. By following those tenets, the whole goddamn world enjoyed a period of uninterrupted growth and prosperity from 1948 to about 1970, depending on where you are. Talk to me all you like about Europe's destroyed industry from WW2 but the simple fact is that the maxim of 'save during booms' and 'spend during busts' created more jobs and helped more economies that you can name. Thanks to political expediency, however, and apparently Reagan, the US at large seems to believe that anything even approaching left-wing politics (and for the purposes of this argument that includes healthcare and, y'know, not caring what or who a woman puts up their vagina) is anathema. It simply isn't accepted, and decried as 'socialism' by any opponents.
One major point she has is that people take out a lot more debt and blow far more money on debt service, mostly on housing, than they did in the past.  Regardless of disputes over political structure, I think that we can all agree on that much.
"&gt;Actually the reason isn't because of the gold standard. The real reason is because we have seen a sharp increase in fruit imports over the past 5 decades. Huh? Agriculture is down to single digits as part of the GDP. What does that have to do with a gold standard and monetary policy? &gt;Productivity is up rather dramatically as compared to 40 years ago. Maybe you mean manufacturing? Productivity is up since say, the turn of the century but this is to be expected since we incorporated electricity, oil, automobiles and eventually computers. But as soon as the USA left the gold exchange standard, total factor productivity began to dramatically stagnate. That means the growth in productivity. You can see this best here: http://azizonomics.files.wordpress.com/2012/06/tfp.jpeg Think of productivity like GDP. It used to be 5 and was on its way to 6, but right as we went off the gold standard, productivity increases stagnated and by 2007 we're only at 5.5 instead of the expected 6. This uses a logarithmic function wherein 6 is 10x more than 5. So while productivity has not fallen in an absolute sense, growth in productivity which is more important than absolute GDP growth has fallen and is infact related to a decrease in productivity growth. &gt;The reason you're seeing the gains over the past several years shifting towards the rich is due to a combination of tax policy and a rise in cronyism caused by our campaign financing problems. Big businesses often have a lot of lobbying power to get laws passed that ultimately are felt by the rest of the economy. The reason it has shifted to the rich is because as the currency has debased the gains have gone towards the biggest companies, wealthiest individuals, assisted by government which works like an auction house to those with connections which is why lobbying ROI is huge. &gt;Fiat currency is a good thing for countries like the United States. We can safely finance and pay our debts for a few more years while wracking up debt without fear of hyperinflation. Because our massive debt is doing so well for us?
In that spirit, CEPR brings you the latest data and projections on the ratio of the federal government's interest payments to GDP, courtesy of the Congressional Budget Office (CBO). [T]he interest to GDP ratio is currently at a crushing 1.3 percent, near the post World War II low. However this figure overstates the burden somewhat. Last year the Federal Reserve Board refunded almost $80 billion to the Treasury. This was interest earned on government bonds and other assets it now holds. That leaves a net interest burden of 0.8 percent of GDP, by far the lowest of the post World War II era."" **TL;DR**: what matters is not total size of debt alone, but also borrowing costs and ability to inflate the debt away. Japan is paying very little on its large debt; Greece is paying a lot. **TL;DR TL;DR**: I'd like to borrow a few trillion dollars at 2%, too."
This is news?  Keynesians were making noise about this years ago and nobody listened.  There were headline articles and blog posts in the NYT in 2010 and nobody listened.  Krugman clamored on about it for all of 2011 and nobody listened.  OWS screamed for a year and nobody listened.  And now Bloomberg rehashes what has been said all along and people finally pick up on it?  Give me a fucking break.  We're years late to this party and a lot of damage has been done as a result.  I'm glad the facts are finally getting some of the traction they require but wow, what a fucking joke.
Cut back where exactly? Cut out 100% of social spending and you still have a deficit. So we cut back 20% of every Program including military, we now break even. 10s of millions now homeless and dying, unemployed, and starving. Or the 500 companies who make 1 trillion after taxes you make them pay for the deficit.
&gt;You linked to an article about 1 QUARTER in 2010 -   Sorry, here's one from 4th Quarter in 2011.  http://latimesblogs.latimes.com/money_co/2011/11/gdp-revised-downward-corporate-profits-up.html  I'm sure I could find more and more that prove your first assertion to be completely false.  &gt;If #2 is increased with NO INCREASE IN OUTPUT the cost of those goods is going up.   The cost of labor right now can't support consumption in our economy.  That is the simplest of economics.  What you're doing is claiming that businesses will be able to hike up prices without repercussions from consumers.
A couple of points to note  Illinois has not stopped collecting taxes and has survived with only emergency stop gap measures for the past 3 years.  According to the Zero Hedge article cited in the video, Illinois has a backlog of $3 Billion in bills yet the GDP of Illinois in 2015 was $772 billion which was 5^th in the nation.
This is why it bothers me when State Governors get up there and crow about how they balanced the States Budget.  Really? what are the negative consequences someone else is going to have to bear 10 years down the road?
Collapsed? BWhahahahahahahahah! No junior mommy and daddy (Republicans and Democrats) are having a spat over the family finances. Sure it looks bad, and some bills are behind, but it would take a whole hell of a lot more than this to collapse Illinois.   We got something like 39 billion dollars in expense and are only collecting 36 billion in revenue. If we raise revenue, i.e. increase taxes a bit and hold the line on spending then this mess will eventually work itself out.  One thing that most don't get and don't report on is there is really no more fat in the Illinois budget to cut. The cuts Republicans want are to school funding, hospitals, infrastructure, etc... We have all ready cut almost everything else out of the budget.   The reason Rauner can't get his budget passed is no politician is going back to their school district and telling them they are taking another 20% cut on top of everything else. No Democrat is going to allow him to destroy unions and he won't compromise.  This is a pissing match between him and Maidigan and if you have not been paying attention it looks like Rauner is going to lose. He may have vetoed the budget and tax increases, but it looks like a veto proof majority can be created, as the fiscally conservatives won't let Illinois bonds go to junk status.
I just got a degree in economics. Not that it makes me an unparalleled expert, but I do believe that many of these graphs are misleading and readers should be wary. The scales on the chart are not consistent, even in regards to stats the author purports to be comparable (example: the scale on the debt of households, corporations, and government are vastly different). The government not being bloated argument begins with an analysis of how there are (supposedly) not a crazy number of government employees. But this would appear to leave out *military contractors, and perhaps even some soldiers*. These are artificially created jobs paid for by tax dollars that ought to be lumped into a fair analysis of the total number of government employees. That's just to get started on my criticisms.  Edit: a word
The primary difference between Japan and most other developed nations is who owns their debt.  Japan's debt is almost entirely internal.  That is it's actually borrowed from within Japan.  It's not owned by China or anyone else.  Additionally, Japan owns a fairly substantial proportion of the USA's debt which provides additional security.  It's a favorite complaint of Romney and his friends that American is borrowing from China to finance public spending.  A lot of people don't realize, that in fact Japan was until very recently, America's biggest source of borrowing.  And is still number 2 by a substantial margin.  Combine this with pretty careful regulation by the Bank of Japan, low bond yields, and a much larger economy, still with a decent manufacturing base, and Japan's situation isn't remotely like Greece despite it appearing worse.  In a nutshell, the Japan is the educated university graduate with a reasonable income, who like many of us who buy a house that costs many multiples of our annual salary, and can afford to service the debt even if it needs to be carefully managed.  Greece is the homeless, one-armed drug addict with no prospects that struggles to find a few bucks to spend a night in a hostel.  The size of the debt is more or less irrelevant.  It's the ability to pay it that really matters.  Of course this doesn't mean that if circumstances change, things couldn't go south badly, but right now Japan isn't in trouble and the 230% vs 130% misrepresents the reality of the situation.
Anytime someone mentions a specific year something will happen on economics they lose credibility in my book. That said, it does look like government has run itself off a financial cliff. Its like Looney Tunes, once we look down we will fall
The sad thing is that if you were to tell people that our economy has dropped by 50% in the past decade, many would believe you.  It's hard to wrap your mind around the huge difference between a 1% and 3% annual GDP growth rate.  A 50% GDP drop would be worse than Godzilla destroying Silicon Valley then grabbing Mothra and punting him face first into the New York Tri-State Area hugging an EMP.  I would mention Chicago but [I think they're already under attack by a kaiju](http://3.bp.blogspot.com/-2wweA-K6Vh4/UuDWvRGNLiI/AAAAAAAAhsY/xlFXqL_8YQQ/s1600/ford+bumbaclot.jpg).
Manufacturing *employment*. Manufacturing *output* has increased.  The people who used to be employed in manufacturing are slowly being shuffled to places where they can be more productive rather than taking up space in jobs where they have become extraneous due to productivity gains. This means a lot of retraining is necessary but there's really little alternative.  This has nothing whatsoever with the growth potential of the economy, so I'm not sure why you brought it up.
I thought your answer was spot on until I read this  &gt;With a little cash, the government can get that industrial machine working at efficiency again.  What is the industry that Spain can offer the world on a profitable basis?  There may be one, but I'll need someone else to tell me.
People with skills can still find good jobs. I live in one of the shittiest economic states in the country right now. The people that I know that went to college **AND** busted their ass to find a good job when they got out all had one within a couple months. The people that fucked around, sent out their resume to a few online job applications and didn't make it priority #1 to get a high quality job didn't.  Good jobs aren't easy to come by right now, but they are available.
Here's the thing, Japan produces and sells a lot of different products where as Greece sells Olive Oil. If Greece could somehow turn their olives into a fuel source, they would be the richest nation in the EU (Sean Lock in 8 out of 10 Cats). Sorry too lazy to find the episode , but it was really funny.
The economy would be a lot better if more people had money in their pockets to spend. The only ones with money are the GREEDY CEO and managers. The Rich list this year , the top 100 th wealth grew by £380,000,000,000 ...  I wonder how much better the economy would be better off with some of that money in the workers pockets ?  The only people with a Money Tree are Theresa May, and the rich list. http://i.imgur.com/BGapG2z.jpg
The reason you're being down voted is that inflation is nearly the lowest it's ever been.  Also for manufacturing, dozens of studies show that automation is causing most of the job loss. Our gross yields actually keep growing thanks to productivity gains.
Think again.    **All prosperity** ultimately comes from the generation -the *creation*- of wealth.    We create wealth out of the ether when we take a thing -a physical item- which is worth little and turn it into a thing that is worth more with the power of an idea and the application of labor.  On a macro scale, that translates into the manufacturing sector.  The manufacturing sector in the US has *changed*, it's not gone.  It's spectacularly healthy in a plethroa of new ways, while all the old ones have died off or are dying a slow death.  The new manufacturing sector demands skill, not just attendance.  *Unskilled* work is drying up, because under current laws unskilled people cost more to employ than they can possibly produce, but someone with a skill in trade can get a job in half a heartbeat, especially if they are willing to move to where the job is.  No nation of any size can prosper without the internal generation of real wealth.  The idea that we can be a nation of bankers and managers is laughable and is precisely what got us into our current situation.  The future is and *will always be* in making new things.  Labor is not a derogative word and it does *not* equate to a second-class existence, as pay rates are currently demonstrating.  It was geniuses working in the trades who were the innovators and entrepreneurs that built American industrial power (thus, economic power) in the first place.    It will be again.
It doesn't matter.  The effect of that money being spent and entering into the economy as a whole is strongly positive.  This moralist argument is that unemployment is somehow tempting or enjoyable, but the only real support for that is the loathing associated with it.  Fighting with imaginary demons can hurt real people and economies.
Now thats how you run a fucking economy . . .but I hope you know that if the Israelis or Americans attack you, that shit won't work, and most probably, they are the ones most likely to attack you.  Actually as the Japanese and Koreans found out, it just sounds really fancy and is really expensive . .doesn't do anything . .but looks really good
That's an interesting take, but I insist that their real wealth situation is better than ours because of the consistent positive infusion of foreign wealth from superior physical exports  &gt; I want to emphasize here that the printing press isn't some magic fountain of real wealth.  That's the argument you've been supporting this entire time!!! Nice pivot, man  &gt;: [
No Democrat is going to run for reelection saying the economy is expanding at a nice clip. The reason: it's not and mostly they have created low paying part time jobs. And no mention of the enormous debt and bonds piling up at the Fed. What are we at now? $4 trillion?
"&gt;Average hours per worker has increased versus 30-40 years ago. That and better technology means we are more productive than ever. Production is great. Maybe it's too great?  You really don't see the problem with this? More and more Americans (and other countries) are struggling and forced to work extra hours, if not two or three jobs, just to get by. The productivity and GPD (and cost of living) of the average worker has increased by an ENORMOUS amount, ***SO WHY HAVEN'T THEIR WAGES?!***  &gt;If you slowed production, maybe you could prevent wealth from collecting in a few hands so quickly?  &gt;Wouldn't that be a ""weaker economy"" rather than a ""stronger economy""?  No one's arguing that. Straw man. What people really want to see is policy reform to give labour better compensation.  &gt;Here's the crux of your problem. America got incredibly wealthy from WW2. This is why 30-40 years ago, there was a rich middle class that was stronger than it is today. This was not ""the economy's"" success. This was luck (or strategy, depending upon how much government planned it out).  So where'd that wealth go? It just fucking disappeared, right? And the economy shrank? Fuck no. US GPD is [at ***record highs***](http://www.multpl.com/us-gdp-inflation-adjusted/table), but [***the compensation for labour has stagnated during those 30 years of prosperity.***](http://www.data360.org/dsg.aspx?Data_Set_Group_Id=773)"
That's not really true. Rather the US still has a kind of labor that is none existent in e.g Scandinavia or very small. The jobs of some guy packing your groceries in the store or someone shining your shoes for a dollar, those services do not exist in Sweden.
This is the first I've heard about manufacturing downturn. The article shows wages up in other sectors and the BSE is stronger than ever. Recent changes (currency + GST) are painful, but they seem necessary and beneficial in the long run. I'm still long.  Edit: GDP is down to 5.7% from 7.9% for the same quarter last year.
It isn't great news, but it is still slow improvement. Check the prime working age labor force participation rate, employment population ratio, average wage, or average hours worked. They all tell the same story. An economy that isn't recovering as fast as anyone would like, but one that is clearly recovering.
I mean, sure. But that has nothing to do with gdp-ppp, mostly because I'm pretty sure you can't pay for spying with yuan.  GDP-PPP is the metric people point when  they *really* want the US to no longer geopolitically matter.  In reality, China has got a long way to go before they get to the point of truly challenging the US.
Yes . .unfortunately this is related to our economy.  You see, Israel is basically a Jewish state and has spent the last 50 years, killing unarmed women and children in Palestine and building illegal settlements. They as a part of government policy deny their own Arab citizens rights, and as such are not a democracy, they are an Apartheid state.  Now Jews, are Jews first and then any thing else, like for instance American citizens, they are Jews first and will always put Jewry first.  Well thats all fine but, Jews also control the US economy and exert a great deal of control on the US politics via their control of the purse strings.  But America is supposed to be the defender of Democracy and Human Rights and is forced to publicly  support Israel which is now known to the world as an Apartheid State and a sower of discord and strife and the root cause of terrorism, and therefor by aligning with the Israeli's and giving them weapons and military aid, America shows it self as a hypocritical liar and a shallow state and grow in its isolation.  All the while Israel keeps harping about war and Iran and Syria and now Russia and forcing America to its own destruction while siphoning off all the fat from the US economy into Jewish pockets.  That Bedouin village is the Death of the US economy
Yes but it's more important to look at the longer term trends, which Schiff would actually probably support.   He is not anyone you should take very seriously for intelligent economic debate. His glory comes from calling the real estate bubble, which deserves some credit, but all of his predictions of what would occur during the fall out have been wrong and almost the exact opposite. He doesn't understand modern economics.
Did you look at my graph? I'm talking unionisation in general, and to say they have plenty of power doesn't line up with reality, as far as I can see.  The UAW is powerful? Give me a break. They've been giving up concessions for years.
"Of course! The Marshall plan helped, but if you check, it was a very small amount compared to the billions wasted today on ""nation building"" in countries that there's zero chances they will or are willing to build their nation."