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Description edit
Arianna Huffington, who, with the must-read Huffington Post, has her finger on the pulse of America, unflinchingly tracks the gradual demise of America as an industrial, political, and economic leader. In the vein of her fiery bestseller "Pigs at the Trough", "Third World America" points... read more
Ridiculously Simplified Synopsis edit
Summary edit
It’s not an exaggeration to say that middle-class Americans are an endangered species and that the American Dream of a secure, comfortable standard of living has become as outdated as an Edsel with an eight-track player. That the United States of America is in danger of becoming a third world... read more (warning: may contain spoilers)
People edit
- Bill Clinton: As the 42nd President of the United States, Clinton's economic message was "All prosperity, all the time".
- George W. Bush: As the 43rd President of the United States, Bush's administration gave so much freedom to companies operating in the free market that their selfish interest backfired.
- Barack Obama: As the 44th President of the United States, Obama's focus has been the middle class, but there has not been much success.
- Massey: Add a description of this character.
- Diana
- Robert Rubin
- Alan Greenspan
Quotes edit
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“Luck. That’s what the American Dream now rests on. It used to be about education, hard work, and perseverance, but today the system is rigged to such an extent that the middle-class life is the prize on a scratch-off lottery ticket.”
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“A major nation must be able to maintain a balanced current account (and trade balance) over time, and goods are far more tradable than services. Without something to export, a nation will either become over-indebted or forced to reduce its standard of living.”
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“Forty years ago, top executives at S&P 500 companies made an average of thirty times what their workers did—now they make three hundred times what their workers make.”
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“The core idea of the American Dream—work hard and advance up the ladder—has been gutted. Now the American Dream is try to not fall, or do all you can to slow your rate of decline.”
- Popular Highlights from Kindle Customers
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“Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and not clothed. This world in arms is not spending money alone. It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.”
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Since the fall of the Roman Empire, one of the hallmarks of nations in decline has been increased military spending at the expense of other essential priorities.
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“One in five Americans is unemployed, underemployed or just plain out of work.4 One in nine families can’t make the minimum payment on their credit cards. One in eight mortgages is in default or foreclosure. One in eight Americans is on food stamps. More than 120,000 families are filing for bankruptcy every month. The economic crisis has wiped more than $5 trillion from pensions and savings.”
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It’s not that capitalism isn’t working. It’s that what we have right now is not capitalism. What we have is corporatism. It’s welfare for the rich. It’s the government picking winners and losers. It’s Wall Street having its taxpayer-funded cake and eating it, too. It’s socialized losses and privatized gains.
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Unemployment for those making $150,000 a year, the study found, was only 3 percent in the last quarter of 2009. The rate for those in the middle income range was 9 percent—not far off the national average. The rate for those in the bottom 10 percent of income was a staggering 31 percent.
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Forty years ago, top executives at S&P 500 companies made an average of thirty times what their workers did—now they make three hundred times what their workers make.23
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In other words—it’s supposed to serve our economy, not become our economy.
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The share of our economy devoted to making things of value is shrinking, while the share devoted to valuing made-up things (credit-swap derivatives, anyone?) is expanding. It’s the financialization of our economy.
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“A major nation must be able to maintain a balanced current account (and trade balance) over time, and goods are far more tradable than services. Without something to export, a nation will either become over-indebted or forced to reduce its standard of living.”
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This is what happens when a country is willing to spend trillions of dollars fighting unnecessary wars while allowing college tuition to rise out of the reach of so many of its citizens. And it’s what happens when a country turns its economy over to the casino of Wall Street.
Highlighted by 59 Kindle customers
First Sentence edit
"Third World America."
Table of Contents edit
Preface
1. Third World America
2. Nightmare on Main Street
3. America The Beautiful(cross out beautiful) Dilapidated
4. CSI USA: Who Killed The American Dream
5. Saving Ourselves from a Third World Future
Themes & Symbolism edit
- The American Dream: The pursuit of a quality life by working hard and continually stepping up the ladder of success.
Series & Lists edit
This book is in New York Times Bestsellers (Current). (authoritative list)
Authors & Contributors edit
- Arianna Huffington (Author)
First Edition edit
Original Language: English
Publisher: Crown Publishers
Country: USA
Publication Date: 2009
ISBN: 978-0-307-71982-9
Page Count: 276
Publisher: Crown Publishers
Country: USA
Publication Date: 2009
ISBN: 978-0-307-71982-9
Page Count: 276
Classification edit
- Library of Congress: HC106.84 .H84 2010
- Dewey: 320
Subjects edit
Popular Tags
Links to Supplemental Material edit
- Huffington Post: Author is co-founder of this site.
- Arianna Huffington Official Biography
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