Suggested Answers to Short Quiz

[johnkarls]

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SHORT QUIZ -- THE PRICE OF INEQUALITY

Editorial Note = Although there are 12 questions, the first three focus on inner-city education or lack thereof (on which we have launched 4 different Six-Degrees-Of-Separation E-mail campaigns over the years), and the last eight focus on how the American Jobs DESTRUCTION Act of 2004 caused the 2008-9 economic meltdown and, indeed, would have caused it whether or not there had been any weakness in the mortgage market (on which we have focused 3 times during recent years but somehow failed to launch a Six-Degrees-Of-Separation E-mail campaign). The reason for Q&A-9 and Q&A-10 is that we really should have a Six-Degrees-Of-Separation E-mail campaign on the American Jobs DESTRUCTION Act of 2004 because both Mitt Romney and President Obama’s Deficit-Reduction Commission are proposing doing the same thing all over again and, if we are right, they will cause another economic meltdown on the same order as 2008-2009.

Question 1

Does Prof. Stiglitz focus at all on the fact that America has created a permanent under-caste from which there is virtually no escape despite the fact that identical-twin studies consistently demonstrate that inner-city children have the same level of IQ as suburban children?

Answer 1

No.

Question 2

What does Prof. Stiglitz propose for addressing the fact that for more than 50 years, the US Government has constantly reported that 30% of the American population is illiterate in terms of being unable even to read the warning label on a can of rat poison?

Answer 2

Nothing.

Question 3

In other words, has Prof. Stiglitz joined the chorus recommending school choice in order to give mainstream America permission to blame inner-city residents for their own plight? Rather than do the heavy lifting necessary to solve the problem? [Which, of course, condemns the next generation of inner-city children to a fate worse than death!!!]

Answer 3

Yes.

Question 4

What does Prof. Stiglitz propose with regard to out-sourcing American jobs?

Answer 4

He talks about out-sourcing, but doesn’t appear to have any specific recommendations.

Question 5

Is Prof. Stiglitz even aware that US-based multi-national companies are exempt from US corporate income taxation on their profits from exporting American jobs so long as they loan those profits to unrelated CHUMP American companies that have not exported American jobs? And that US-based MNC’s that have exported American jobs put virtually all of their world-wide profits in tax-haven subsidiaries and then claim that those profits came from exporting American jobs so they are exempt?

Answer 5

He doesn’t have a clue!!!

Question 6

Is Prof. Stiglitz even aware that the American Jobs DESTRUCTION Act of 2004 meant that from 2005-2007 the CHUMP American companies that had not exported American jobs had to reduce their payroll and capital investments by $4 TRillion - $5 TRillion in order to repay the American companies that had exported American jobs? [For details, please see Participant Comments for our 5/11/2011 meeting on http://www.ReadingLiberally-SaltLake.org.]

Answer 6

He doesn’t have a clue!!!

Question 7

Is Prof. Stiglitz’ ignorance of the effect of the American Jobs DESTRUCTION Act of 2004 the reason why he mindlessly subscribes to (and thereby helps to perpetuate) the Great American Myth that the 2008-2009 economic meltdown was caused by the real-estate-mortgage market?

Answer 7

Probably. And he does claim incessantly that the Great American Myth is gospel!!!

Question 8

In other words, has Prof. Stiglitz even focused on the fact that the 2005-2007 reductions of $4 TRillion - $5 TRillion in payroll and capital investments that were forced on the CHUMP American companies that had not exported American jobs, would have produced the 2008-2009 economic meltdown whether or not there had been any problems in the real-estate-mortgage market?

Answer 8

No.

Question 9

In other words, wouldn’t reductions of $4 TRillion - $5 TRillion in American payroll and capital investments (the latter of which also has unemployment implications for suppliers of the capital goods) -- and the cascading unemployment caused by both -- have caused virtually the entire 2008-2009 economic meltdown whether or not some of the Americans who lost their jobs due to the American Jobs DESTRUCTION Act of 2004 had less than 20% equity in their homes?

Answer 9

Of course.

Question 10

Is Prof. Stiglitz aware that both Mitt Romney and the Simpson-Bowles Deficit-Reduction Commission appointed by President Obama are calling for another $4 TRillion - $5 TRillion reduction in American payroll and capital expenditures of the CHUMP American companies that have not exported American jobs?

Answer 10

He doesn’t appear to be.

Question 11

Isn’t it time that we took a stand against these policies, even if Prof. Sitglitz doesn’t oppose them?

Answer 11

Of course.

Question 12

Why are the Prof. Stiglitz’s of the world less interested in the destruction of American resources than re-distributing what’s left of them?

Answer 12

God only knows!!! [Unless you are a cynic!!!]