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The U.S. economy crashes when it becomes too top heavy because the economy depends on consumer spending to keep it going... For a time, the middle cl… - Robert Reich
" "The U.S. economy crashes when it becomes too top heavy because the economy depends on consumer spending to keep it going... For a time, the middle class and poor can keep the economy going nonetheless by borrowing. But, as in 1929 and 2008, debt bubbles eventually burst. We're getting dangerously close. By the first quarter of this year, household debt was at an all-time high of $13.2 trillion.
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About Robert Reich
Robert Bernard Reich (born June 24, 1946) is an American economist, professor, author, lawyer, and political commentator. He served in the administrations of Presidents Gerald Ford and Jimmy Carter, as well as serving as the United States Secretary of Labor from 1993 to 1997 in the cabinet of President Bill Clinton. He was a member of President Barack Obama's economic transition advisory board.
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Robert Bernard Reich
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Additional quotes by Robert Reich
I want to talk about symbols, images, and fascism. Here is Trump’s mug shot from his arraignment yesterday in Georgia. It’s a look of defiance — which I’m sure he practiced repeatedly beforehand — intended to make his supporters and his Republican base feel defiant, too. If a picture is worth a thousand words, this is Trump’s thousand-word response to Wednesday night’s Republican debate, which he declined to attend. He timed his arraignment in Georgia for yesterday so that it — and this photo — would dominate Thursday’s and Friday’s news, rather than anything or anyone emerging from the debate.
But a defiant photograph isn’t “news.” It’s a symbol, an image. Which is exactly what Donald Trump is. He has no political platform, no specific policy agenda, no new ideas, and no plan for what he’ll do if he gets a second term.
He exists as a symbol for the anger, discontent, bigotry, and vindictiveness he has unleashed in America.
He is as close as America has come to a fascist leader, who doesn’t want his followers to think or analyze. He wants them only to feel.
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