Ben Stein answers your economic questions
Famed economist takes the 'Hot Seat'
- Duration 3:31
- Date Feb 8, 2013
Famed economist takes the 'Hot Seat'
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This transcript is automatically generated
As promised may have content is extraordinary and sign on the hot seat theory is that this literally depreciated ten taking our viewer questions this wanna remind everybody -- as a book.
Had a really ruin your financial life in portfolio.
And that is something we -- really want to avoid that I'm -- launch into.
Our viewer questions because they've been waiting and good -- Brian wants to know.
Had really get the middle class -- -- been working his whole life he still can't afford this house.
How does the middle class come back.
One at a time one job at a time one -- on -- One additional scale the government can't do it they -- all guys about it and say the government's got to bring back the middle class can't be done the middle class has to get back there by itself it's a very hard -- -- we've been drastically affected by a foreign government that is especially.
People are in the middle class in manufacturing have been whacked by an unbelievably hard.
-- I there is no overall lawn they can be weighed down by the government but.
By dint of hard work and that's drift and persistence people will get back into that if there out of it they'll standards are headed -- -- it it -- move up the upper middle class.
Chris is doing -- -- from Valencia California -- and Netherlands needs you love Valencia I'm glad when they're -- extra special today urine doesn't know about America's manufacturing.
And you know what that's going to look like -- the next several years.
Well we we we know who -- very very good at high tech developments.
But we're not very got a high tech manufacturing -- -- I don't know there's ever been a major manufacturing industrial Bauer.
That has recovered after being pushed -- side.
By low wage but high tech economies so I think where we're facing a prolonged.
Slowdown in manufacturing and be able to talk although -- a -- About government bring him back but I think the trends are extremely adverse and grow up and you are manufacturing -- good manufactured in Thailand are gone.
For a small percentage of -- -- manufacturers where the US you're gonna manufacture there I mean that's just.
Why in the world -- it's a very sad thing but.
I don't do the -- manufacturing as being particularly strong people got to get an education to get in no I think white collar are extremely skilled.
Blue collar work my -- and I had -- similar -- Yeah I actually got a hundred dollars an hour -- if you Lotto anybody of his skills to Oregon steel manufacturing you can be an electrician do.
So no manufacturing jobs sent it to Valencia California although it's nice places as you've told us Mary and I could fashion -- Carl he was taking a look at the sixteen point five.
I trillion dollar debt and his question was what to really sustain -- -- -- what number are really shooting for here when it comes in the debt in this country bad.
Well we don't know we've got to imagine that we haven't yet we're zig and a 100%.
Of our gross domestic product which is a dollar output of the United States and in the most recent here.
Japan has a total that would just 240%.
Which is that -- -- -- Glenn Ford times.
They're gross domestic product and they're very far from being Bagram so there's there's a quite a long way we can go we were Ben -- But it's a discouraging situation a government.
I can just ban this ban has been without any regard -- -- is coming in.
That's really -- an extreme in discipline and -- Wii is damaged we all be broke very quickly.
And that senator I think we don't want that no.
And great to see as always I was very -- see you on all of that is Amir thank you expand we'll be right back what happened thank -- and.