Here is a rough transcription of the presentation for people who are hard of hearing. Apologies for the lack of grammar, I am working to improve the automated transcriptions -
hello my Saturday was start with understanding that it is a but this is applicable for the Western world will start with a pew research hold tight thing a third of Americans now say they are in the lower classes of course the slightly exaggerated headline but down in the bottom right their share of public that self identifies as lower class 2012 2008 at United States of America and read the article for the different age groups in different part of Hispanic and black and all those type of people they asked how they thought about it but this is all adults and it’s quite shocking really 2008 25% of all adults thought they were in lower class but now four years later 2012 its 32% to come from a quarter to a third at one hell of a job in four years share of the public that self identifies as lower class for years its jump from a quarter to a third in America anyway let pop on our what we’ve got here in snip to is college tuition fees in green going up from 1980s about 1980 at a much much higher clip them all goods so that all goods is something like the CPI index something like that college tuition fees are going up and up and up like medical feats but the point here that are making in in this video is that Americans that pay those elevated college tuition fees and go on and get more and more education do not stay in the lower classes they go on and live to a greater extent the American dream whatever their American dream may might be if you want the American dream if you want to get on if you want to be the other than doing well other you have to pay that green line Okay now lots of people that for various reasons can’t don’t pay that green line this is from Ezra Klein again wonk blog and he’s not against this it’s this is into hatchet attack on people that haven’t taken the green line believes the problem that the United States has got and of course the Western world has got through just the end of August of this year according to the NTS the federal government has paid out of 594 billion in benefits from the old-age and survivors insurance trust fund this means the government has paid 3 billion more in Social Security benefits in just the first 11 months of this fiscal year and it paid in all of fiscal 2011 Tote about paying 10% more about this year for people in that particular group and is another group here through the end of August the federal government has paid 130 billion in benefits from the federal disability insurance trust fund through all of fiscal 2011 the government paid only 128,000 so it’s exactly the same as it’s never gone through the same amount of money as last year in 11 months of this year so it’s about 10% more give or take and this is the lot a lot of people are going over to disability benefits and in the United States because it is not a bad deal if you can live on a minimal amount of money but it’s a regular minimum amount of money and you get certain depending how long you’ve work when you get Medicare Medicaid it’s not a bad deal if you can if if you’re willing to accept the fact that the American dream is gone away from you and all your to do is survive out and that is what we’ve got this is the inequality that Stiglitz’s new books about the complete wenches being driven it’s not just American society it’s especially in the UK society as well Europe is trying to fight against it that is no doubt it’s driven into Europe as well is this it inequality think if you get a good start in life if you have especially where it’s the money basically if you can get to live in a decent area get to a decent school and afford to pay for more education the chances are you can stare ahead of this game but the people there on the other side of the wedge that fall on the wrong side are basically being lumped in with the Chinese and the governments are paying to keep them supported so they don’t clutter the streets up for the moment but that the bifurcations we have in the Western world the people that have advantages to start with our staying ahead and don’t have to play the compete with the Chinese but there’s an awful lot and increasing amount that do have to now compete with Chinese and it’s so it’s becoming clearer and clearer and the only way to stay ahead is to have an advantage to start with a lethality weekend by
Podcast: Play in new window | Download
