Capitalism

Current Issues & the Constitution

Let’s Talk about – Capitalism/ Free Market

with Professor Wilson and Moderated by Felice Gerwitz

Capitalism/Free Market – HISTORICAL overview

Woody shares a recap of the historical significance of capitalism and free market in the USA. This begins this sessions.

We take a look at the Constitution:

Article 1, Section 8, Clause 3: To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

Economic Recovery?

• Third Quarter – GDP 5% growth in third quarter (July thru September)
• Fastest growth rate in 11 years
• Worst recovery in US history
• GDP growth lowest level since 1947
• Adult population employed 59%, down from 64% in 2000
• Stock Market up: Dow-Jones exceeded 18,000 for the first time
• Why? Internet sales are up, sinking personal debt, plunging oil prices, increased government contracts – the free market finally prevails
• Who takes credit?
• But, unemployment remains at 5.8%
• All net gains jobs since 2007 have gone to immigrants, legal and illegal – 2.5 million more immigrants, l.5 million fewer American citizens (Bureau Labor Statistics)
• Middle class wages stagnant
• 73% increase in health care premiums
• 35 million living in poverty, up from 18 million in 2007
• 2010-2014 – More small businesses closing than opening, 2% gap, taxes and regulation, ACA, focus on redistribution of wealth. Moving to European socialist government/economic system.
• How to stimulate small business growth, simple, tax cuts and deregulation.

Middle class economics?!?! – this is discussed.

Obama 2016 budget, $4 Trillion! ….

• $2.4 trillion spending increase
• $2.1 trillion tax increase
• $8.5 trillion national debt

John Boehner and Benjamin Netanyahu Controversy

• Cold shoulder, Hostility began 2008
• Last year Hamas attacks Israel – president urges Israel be patient, praises Palestinian authority
• Recent refusal to meet with Netanyahu
• State Department using American taxpayer dollars to campaign in Israel election against Netanyahu

Obama policy on Terrorism Back in the News

• Last six years

1. Arab Spring 2010 to present
2. Benghazi
3. Red Line
4. Syria – opportunity ignored
5. Iran and nukes
6. ISIS – “JV team”
7. Russia and Putin – open mike blunder

• Critics: top brass in Pentagon, Leon Panetta – former Obama CIA Director, Bob Gates – former Obama Secretary of Defense – Gen Jack Keene – Former Mideast negotiator Dennis Ross – General Mike Flynn, “you cannot defeat an enemy you do not admit exists.” Refusal to acknowledge Islamic, Muslim, Jihad elements of terrorism “How can you defeat an enemy if you don’t identify them?”

Self identified Republicans Presidential Candidates Poll

• Romney 21%
• Huckabee 19%
• Paul 10%
• Bush 9%

Romney drops out!

American Sniper Controversy

• American Sniper – A 2014 American biographical war drama film directed by Clint Eastwood and written by Jason Hall.
• Based on the book American Sniper: The Autobiography of the Most Lethal Sniper in U.S. Military History by Chris Kyle
• The film stars Bradley Cooper as Kyle and Sienna Miller as his wife Taya
• At the 87th Academy Awards, American Sniper received six nominations, including Best Picture, Best Adapted Screenplay and Best Actor for Cooper.

Shocker! Speaking at a veterans’ event, First Lady Michelle Obama urged Hollywood to give a more accurate portrayal of veterans and defended the Oscar-nominated “American Sniper,” which has received criticism for its depiction of war.

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