Income Inequality

[Barefootsies]

Interesting.

I guess for those raised in the 50-70s you now see why it's the "golden age".

[sperbonzo]

Dumbest thing I've seen in a while. It doesn't measure average wealth per household, only the differences, so the fact that the average person makes more isn't shown. Also, the gap didn't "give us the great depression", there were a TON of factors, not least of which was massive government internvention in the markets that made it last much longer than it should have, and thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.



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[Barefootsies]

Originally Posted by sperbonzo

thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.

You missed the point jew.

The point was talking about who controlled most of the nation's income. During the U.S. "golden age" the 90% controlled 65% of the wealth. As of 2007, 15,000 Americans controlled something like 780 billion.

This is about who controls the wealth over the past century or so.

[mce]

It all boils down to minding your own business and not looking for excuses and blaming others. Worked in the past. Works now.

[Barry-xlovecam]

"On August 15, 1971, President Nixon announced on TV dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system."

Once the dollar was devalued income distribution began its current trend look at the dates on that chart. The Vietnam War had by then imposed financial hardship much like the wars of the present time. History does repeat itself.

An affluent working class beefs up this industry's sales. How many investment bankers spent money on your porn this week? They can afford live girls, coke, and cheap thrills -- most don't need you ...

[Freaky_Akula]

[woj]

Originally Posted by Freaky_Akula

how is all that connected to weather in china?

[Freaky_Akula]

[Rochard]

I don't understand why this is something we should even be discussing. At the end of the day, does it make a difference? Bill Gates and all of his money at the end of the day amounts to... Just money. He might have had a huge influence on modern culture, but it's not like he can make a phone call and get Julian Assange out the UK now can he?

[epitome]

Originally Posted by sperbonzo

Dumbest thing I've seen in a while. It doesn't measure average wealth per household, only the differences, so the fact that the average person makes more isn't shown. Also, the gap didn't "give us the great depression", there were a TON of factors, not least of which was massive government internvention in the markets that made it last much longer than it should have, and thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.



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So the government was supposed to hand over or guarantee hundreds of billions of dollars but then step back and let the market that caused the economy to crash to do as they saw fit?

Using the extreme opposite that is North Korea to try and prove a point is weak at best. There are plenty of thriving countries with much smaller gaps.

[epitome]

[GregE]

Originally Posted by Barry-xlovecam

An affluent working class beefs up this industry's sales. How many investment bankers spent money on your porn this week? They can afford live girls, coke, and cheap thrills -- most don't need you ...

Precisely.

[BIGTYMER]

Originally Posted by Freaky_Akula

[johnnyloadproductions]

Originally Posted by Barefootsies

You missed the point jew.

The point was talking about who controlled most of the nation's income. During the U.S. "golden age" the 90% controlled 65% of the wealth. As of 2007, 15,000 Americans controlled something like 780 billion.

This is about who controls the wealth over the past century or so.

As we branch off into space (if we don't kill ourselves off first) this will only increase by orders of magnitude.

[GrantMercury]

Originally Posted by mce

It all boils down to minding your own business and not looking for excuses and blaming others. Worked in the past. Works now.

That's stupid. There are reasons for the massive wealth gap - and it's NOT because the richest work harder - it's because the rich use $$$ to rig the system. True, some people come from nothing and make a fortune, but statistically, that's not what explains the wealth gap.

[GregE]

Originally Posted by sperbonzo

Dumbest thing I've seen in a while. It doesn't measure average wealth per household, only the differences, so the fact that the average person makes more isn't shown. Also, the gap didn't "give us the great depression", there were a TON of factors, not least of which was massive government internvention in the markets that made it last much longer than it should have, and thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.

Government intervention didn't cause the 1929 stock market crash but it most certainly would have mitigated (if not actually prevented) it.

Ditto re the 2008 meltdown.

Moreover, the 1930's depression didn't really end until after the government started spending unprecedented amounts of money preparing for and eventually entering WWII.

TRANSLATION: It took massive government spending to get us out of the last depression.

[garce]

Originally Posted by sperbonzo

Dumbest thing I've seen in a while. It doesn't measure average wealth per household, only the differences, so the fact that the average person makes more isn't shown. Also, the gap didn't "give us the great depression", there were a TON of factors, not least of which was massive government internvention in the markets that made it last much longer than it should have, and thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.
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Maybe try going to school and studying English. Google Translate doesn't actually work that well. Wait, you DIDN'T use Google Translate? Oops, sorry... I guess you are just fucking illiterate. Random caps and quotes for the Twitter generation. Yowsa!

Does some company actually pay you to post here? Or pay you to do anything? At all? WHY? WTF?

and thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.

Your "thirdly" is irrelevant... Considering that there was no "firstly" or "secondly" mentioned outside of your addled, drug-subdued "mind" (in quotes for a reason...), I have no idea how you managed to actually count to three. Who's fingers did you count to make it to three? I can picture you hugging your blanky, sucking your left thumb, and saying "Onedly, Twodly, Thirdly, Fordly..." as penises are shoved into your mouth. Then you giggle and curl up in a ball. Or is "thirdly" where your jaw finally got tired from sucking your... Nevermind... It could be worse. Tomorrow you''ll be studying "turdly".

The original poster [Barefootsies, right?] DID explicitly mention North Korea right before he stated how incredibly fucking stupid you are - so you may be on to something. You can "guess" all you want. I KNOW that you are a brain-dead, bat-shit useless, drooling piece of masturbating shit.

I "guess" that you are living in a long-term care facility for the clinically stupid. Probably paid for by taxpayers...

And "thirdly..."

Fuck me. Still, I'd like to live someplace where "everyone is much more equal". As long as they didn't force-feed me Lithium. Or cock. Or turds.

[sperbonzo]

Originally Posted by garce

Maybe try going to school and studying English. Google Translate doesn't actually work that well. Wait, you DIDN'T use Google Translate? Oops, sorry... I guess you are just fucking illiterate. Random caps and quotes for the Twitter generation. Yowsa!

Does some company actually pay you to post here? Or pay you to do anything? At all? WHY? WTF?



Your "thirdly" is irrelevant... Considering that there was no "firstly" or "secondly" mentioned outside of your addled, drug-subdued "mind" (in quotes for a reason...), I have no idea how you managed to actually count to three. Who's fingers did you count to make it to three? I can picture you hugging your blanky, sucking your left thumb, and saying "Onedly, Twodly, Thirdly, Fordly..." as penises are shoved into your mouth. Then you giggle and curl up in a ball. Or is "thirdly" where your jaw finally got tired from sucking your... Nevermind... It could be worse. Tomorrow you''ll be studying "turdly".

The original poster [Barefootsies, right?] DID explicitly mention North Korea right before he stated how incredibly fucking stupid you are - so you may be on to something. You can "guess" all you want. I KNOW that you are a brain-dead, bat-shit useless, drooling piece of masturbating shit.

I "guess" that you are living in a long-term care facility for the clinically stupid. Probably paid for by taxpayers...

And "thirdly..."

Fuck me. Still, I'd like to live someplace where "everyone is much more equal". As long as they didn't force-feed me Lithium. Or cock. Or turds.

I love you too....





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[LAJ]

Originally Posted by epitome

YUP.

[sperbonzo]

Originally Posted by GregE

Government intervention didn't cause the 1929 stock market crash but it most certainly would have mitigated (if not actually prevented) it.

Ditto re the 2008 meltdown.

Moreover, the 1930's depression didn't really end until after the government started spending unprecedented amounts of money preparing for and eventually entering WWII.

TRANSLATION: It took massive government spending to get us out of the last depression.

First of all, there was another crash in the early 20s. And though it was initially actually more severe than the Great Depression, it turned out to be relatively short and weak precisely because the federal government did nothing about it. The "Great" depression was made much worse and much longer because of New Deal legistlation. Look at things like the Smoot-Hawley tariff and the National Industrial Recovery Act, etc....

Secondly, by 1935 to 1938, that new deal legistlation was being pushed back and overturned by congress. In fact New Deal legislation was so harmful to employment and capital formation that it was effectively halted altogether by 1938, because there was no way to build up to a war if the government was so restrictive of private business growth..



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[6South]

Originally Posted by sperbonzo

First of all, there was another crash in the early 20s. And though it was initially actually more severe than the Great Depression, it turned out to be relatively short and weak precisely because the federal government did nothing about it. The "Great" depression was made much worse and much longer because of New Deal legistlation. Look at things like the Smoot-Hawley tariff and the National Industrial Recovery Act, etc....

Secondly, by 1935 to 1938, that new deal legistlation was being pushed back and overturned by congress. In fact New Deal legislation was so harmful to employment and capital formation that it was effectively halted altogether by 1938.



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Actually the first crash was stopped by a group of Wall Street billionaires pumping a ton of money into the market to prop it up and boost confidence. Exactly what the government did with its "stimulus" package.

They saw the writing on the wall and that the govt wasn't going to act so they acted.

Granted, it was pure self preservation. In reality they did it to buy themselves time so they could sell off stocks and send money out of the country before the larger crash hit. It was just a stop gap to give the insiders time to save their own asses. The same thing the stimulus package was created for, to give the insiders enough time to save their asses and stop the public from tipping the balance.

Depressions and market crashes are purely mental. The market decides the gig is up and the money train comes to a halt. Until the people feel safe enough to start that train rolling again all anyone can do is try and spend their way out.

Tony Soprano said it best "Stocks!? You have to be involved in some insider trading shit for that to pay off!"

[sperbonzo]

Originally Posted by 6South

Actually the first crash was stopped by a group of Wall Street billionaires pumping a ton of money into the market to prop it up and boost confidence. Exactly what the government did with its "stimulus" package.

They saw the writing on the wall and that the govt wasn't going to act so they acted.

Granted, it was pure self preservation. In reality they did it to buy themselves time so they could sell off stocks and send money out of the country before the larger crash hit. It was just a stop gap to give the insiders time to save their own asses. The same thing the stimulus package was created for, to give the insiders enough time to save their asses and stop the public from tipping the balance.

Depressions and market crashes are purely mental. The market decides the gig is up and the money train comes to a halt. Until the people feel safe enough to start that train rolling again all anyone can do is try and spend their way out.

Tony Soprano said it best "Stocks!? You have to be involved in some insider trading shit for that to pay off!"

Those wall street billionaires could not pass the legistlation that I mentioned, they could only spend their OWN money. That did nothing to slow subsequent growth, and so "spending through it" could actually work.

The government not only spent money that it had not actually created, but instead took it, by printing, borrowing and taxing, it also then decreases confidence in future growth by passing new laws to try to control business centrally.

Using the stock market as a measure of the economy then also points to WWII not being the cause of the recovery, since it did not really come back until the war was over.


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[GrantMercury]

Originally Posted by GregE

Government intervention didn't cause the 1929 stock market crash but it most certainly would have mitigated (if not actually prevented) it.

Ditto re the 2008 meltdown.

Moreover, the 1930's depression didn't really end until after the government started spending unprecedented amounts of money preparing for and eventually entering WWII.

TRANSLATION: It took massive government spending to get us out of the last depression.

Thank you. Right on.

[u-Bob]

Originally Posted by GregE

Government intervention didn't cause the 1929 stock market crash but it most certainly would have mitigated (if not actually prevented) it.

Ditto re the 2008 meltdown.

Moreover, the 1930's depression didn't really end until after the government started spending unprecedented amounts of money preparing for and eventually entering WWII.

TRANSLATION: It took massive government spending to get us out of the last depression.

Common myth.

The Depression of 1920?21 lasted 18 months and it took no gov intervention to end it. In fact the Depression of 1920-21 was a result of the massive gov intervention during WW1.

Gov intervention in the form of credit expansion by the Fed caused the bubble that led to the 1929 crash. Massive gov intervention under Hoover and FDR turned the 'natural correction process' that a depression actually is into "the Great Depression". Things only got better AFTER WW2 when the gov intervention was greatly reduced.

Yes, it's true that the gov spent a lot of money during WW2 and this did result in high nominal wages. But what good were those when you couldn't buy anything with them?! People built tanks and bullets and got paid in USD, but they couldn't buy milk, butter, meat, sugar,... because all those things were rationed.

At the end of WW2, the Keynesians screamed the world would end if the gov intervention wasn't continued. It wouldn't be the last time they'd get it wrong.