If we have wealth, it will be protected from inflation and possibly even enhanced in value.
From William Greider
The economy is not governed with the bottom half in mind.
In 1900 Americans on average lived for only 49 years and most working people died still on the job.
Children born today have a fifty-fifty chance of living to 100.
If US per capita income continues to grow at a rate of 1.5 percent a year, the country will have plenty of money to finance comfortable retirements and high-quality healthcare for all citizens, including those at the bottom of the wage ladder.
Obviously, people with low or even moderate incomes could not afford such savings rates, and even diligent savings from their low wages would not be enough to pay for either retirement or healthcare.
The do-it-yourself version of pensions is a flop, as many Americans have painfully learned.
If you think about it, Washington's overwhelming power in the world is founded on death, the awesome arsenal for killing people.
The point is, the political reporters are the ones who no longer understand the ritual they are covering. They keep searching for political meanings in the tepid events when a convention is now essentially a human drama and only that.
The threat to globalization is not the wasted American dollars but Washington's readiness to mix US commercial interests with its self-appointed role as global protector.
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