Upload
norah-banks
View
218
Download
0
Embed Size (px)
Citation preview
Economic Stagnation and the Prospect of Continued
Decline
The Evidence for a Catastrophic Depression Occurring in the United States
Edward J. Dodson, M.L.A.October 2011 / Updated March 2013
STRESS STRESS STRESS STRESS STRESS STRESS
“GDP is defined as the value of all goods and services produced within the geographic territory of an economy in a given interval, such as a year.”
Where We Are Today
Unemployment
Unemployment
Unemployment
Unemployed Without Benefits
Under-employment
Household Median Income
Elderly Poor
Elderly Poor
"Our rolls are swelling. There are more and more people on our rolls, there are more and more people in need of our services. The other side these numbers don't tell is the fact that seniors in this country are going hungry."
Hunger in America
Enid Borden, head of Meals on Wheels Association states:
Living Paycheck-to-Paycheck
Property Foreclosures
Source: RealtyTrac – Foreclosure Market Report
Property Foreclosures
Is Social Security Secure?
The Big Question
Savings Deficit
Creditworthiness of Americans
Asset and Wealth
Ownership
Child Poverty
Skyrocketing National Debt:
Soon to Exceed our Ability to Service?
What ECONOMISTS are Telling Us
Paul Krugman
Joseph Stiglitz
Mark Zandi
Mark Zandi
“Most tax expenditures are also inefficient and regressive. The mortgage interest deduction, for example, does nothing to improve housing affordability, its ostensible goal. Any tax benefit is simply capitalized into house prices, which rise as the deduction fuels demand. And the benefits go to owners of bigger homes with larger mortgages and higher incomes, who can itemize and thus claim the deduction.”
Paul Krugman
“[W]e shouldn't even be talking about spending cuts at all now. We have 9 percent unemployment. These spending cuts are going to worsen unemployment. That's even going to hurt the long-run fiscal picture because we have a situation where more and more people are becoming permanent long-term unemployed.”
Joseph Stiglitz
Repeal tax-cuts for rich Americans.
End wars in Iraq and Afghanistan that cost trillions of dollars.
Increase stimulus and programs that would get Americans back to work
Within Medicare, allow the government to negotiate prices with the pharmaceuticals, which would save the U.S. trillions.
Chief Economist of the National Association of Realtors
NAR Board Room
Chief Economist, National Association of Realtors -- 2007
“The steady improvement in [home] sales will support price appreciation ... [despite] all the wild projections by academics, Wall Street analysts, and others in the media.”
Alan Greenspan
“I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.”
How Can We Get Out of
This Terrible Mess?
A Plan
Tax Woes
SIMPLIFIED BUT PROGRESSIVE TAX REFORM
All other deductions and exemptions would be
eliminated
Fully amortizing
Public investment in infrastructure + population growth = rising land values
Fred Foldvary