Nov/09
2010
2010
Inflation begins!
Looks like we've begun to monetize our debt over the past couple of months. Good Job Bernanke.. Good Job Geitner. I guess our debt was a wee bit more than what you tools wanted to tell us.. yes? Funny how just 1 year ago you both are on all the news programs explaining how there is no way the Fed would ever attempt to monetize the debt, you even testified before a congressional hearing earlier this spring under oath that this would never happen. Fuggin liars. It all started by saving Fannie & Freddie now it's worse and you've decided to try to hide it.
All the other Countries holding our debt finance notes are about to get pissed - their investments are quickly turning into nothing but paper hardly worthy of wiping your ass or blowing your nose with. For the first time ever the demand in US treasuries from Countries abroad is plummeting, which any 8th grade economics student can tell you will drive up the interest rates. Gee.. I guess that means imported goods prices into the US will RISE since the dollar is worth jackshit which means .. um duh, inflation and ultimately higher interest rates to cover it. Meanwhile people don't want our money or goods anymore because it's too damn expensive to buy and way too damn risky to hold onto.
When are we finally going to realize that the needs of the few do not outweigh the needs of the many? How much longer do we want to continue to fund all these damn handouts and entitlements? How long did we think we could continue handing money out to those who are less fortunate? Hrm? It's all been fun and games with the class warfare. The politicians have successfully made greed and prosperity a target for those who don't have as much. Go ahead blame the people with money, sure, but those with money are what drive the economy - how can the poor drive the economy when they have nothing to contribute?
America is the land of opportunity.. not the land of the financially equal. There are and always will be the less fortunate in the USA, but in this day and age nothing is stopping them from becoming as wealthy as they want to be. Bad things happen to people, some will never amount to much of anything, some are less fortunate - everybody will not do well - it's a fact of life. The sooner we admit this to ourselves the better off we'll be.
Hold on to your asses people.. this is gonna get ugly.
7 comments
Comment from: odessa [Member] 
Although policies that rob people of their motivation to strive are bad, it is even worse when the top 1 percent earn nearly a quarter of the nations wealth. That equality can drive inflation.
(See http://worldofsuck.net/index.php/2010/09/03/the-rich-do-get-richer?blog=2)
The super rich are not driving the economy. They are treating the rest of us as slaves. I can not ever consider a CEO or a corporation more than a million times more valuable than the mail room clerk.
I'm comfortable. I'm not greedy, my piece of the pie is good. Good enough that I try to help my fellow man get his or her feet under them. However, the current policies are more inclined to dip into my pocket (or the pockets of the working poor) to for more taxes than the pockets of the super rich.
Monetization of our debt is bad, but when the politicians are reluctant to piss off their puppet masters it's what they do.
(See http://worldofsuck.net/index.php/2010/09/03/the-rich-do-get-richer?blog=2)
The super rich are not driving the economy. They are treating the rest of us as slaves. I can not ever consider a CEO or a corporation more than a million times more valuable than the mail room clerk.
I'm comfortable. I'm not greedy, my piece of the pie is good. Good enough that I try to help my fellow man get his or her feet under them. However, the current policies are more inclined to dip into my pocket (or the pockets of the working poor) to for more taxes than the pockets of the super rich.
Monetization of our debt is bad, but when the politicians are reluctant to piss off their puppet masters it's what they do.
11/09/10 @ 08:07
Comment from: Roulette [Member]
Wow. Just... wow. Bman. That's... special. You really think the top 1% drives the economy more than the bottom 15% living below the poverty line? Or the masses of working poor that scrape by just above that imaginary line? And that nothing is stopping those 40 million people from being as wealthy as possible? It's all just laziness and bad luck?
That really explains a lot of our disagreements.
That really explains a lot of our disagreements.
11/09/10 @ 17:45
Comment from: bman [Member]
Nowhere did I mention the top 1% or even the rich. I said "people with money" which does not mean just the extreme rich. Nobody is stopping anybody from further educating themselves.. nobody is stopping them from becoming entrepreneurs, nobody is stopping them from anything - but they have to want it badly enough to make it happen. Government grant money IS out there for further education.
Do people who choose to paint drawings for a living really think they'll make 100k a year? Do people who choose to work in the automotive repair business as a line mechanic really think they'll make 150k/yr for their lifetime?
Reality is that there are have's and have not's and most of the time it's due to a course they've decidedly taken in their lives, sometimes good, sometimes bad. We are only guaranteed the opportunity to succeed, not entitlements. The sooner everyone realizes that the better off we'll be.
Do people who choose to paint drawings for a living really think they'll make 100k a year? Do people who choose to work in the automotive repair business as a line mechanic really think they'll make 150k/yr for their lifetime?
Reality is that there are have's and have not's and most of the time it's due to a course they've decidedly taken in their lives, sometimes good, sometimes bad. We are only guaranteed the opportunity to succeed, not entitlements. The sooner everyone realizes that the better off we'll be.
11/09/10 @ 18:47
Comment from: u235 [Member]
The richest 1 percent of Americans now take home almost 24 percent of income, up from almost 9 percent in 1976. As Timothy Noah of Slate noted in an excellent series on inequality, the United States now arguably has a more unequal distribution of wealth than traditional banana republics like Nicaragua, Venezuela and Guyana.
C.E.O.’s of the largest American companies earned an average of 42 times as much as the average worker in 1980, but 531 times as much in 2001. Perhaps the most astounding statistic is this: From 1980 to 2005, more than four-fifths of the total increase in American incomes went to the richest 1 percent. - Kristof
Inequality isn't a social standard, it's a malfunction. You can't balance an engine if one piston produces all the power, eventually it will seize (if you're lucky) or throw a rod (if you're not.) Liberty, equality, fraternity. Those are revolutionary words...
C.E.O.’s of the largest American companies earned an average of 42 times as much as the average worker in 1980, but 531 times as much in 2001. Perhaps the most astounding statistic is this: From 1980 to 2005, more than four-fifths of the total increase in American incomes went to the richest 1 percent. - Kristof
Inequality isn't a social standard, it's a malfunction. You can't balance an engine if one piston produces all the power, eventually it will seize (if you're lucky) or throw a rod (if you're not.) Liberty, equality, fraternity. Those are revolutionary words...
11/09/10 @ 20:53
Comment from: bman [Member]
The "rich" you refer to such as the CEO's are the ones who employ you. Do you think the average Joe making $65k/yr is going to employ many people? Hrm? We don't have enough business movers and shakers in my opinion.
Your hatred for the "rich" is the hatred for the hand that feeds you.
Your hatred for the "rich" is the hatred for the hand that feeds you.
11/10/10 @ 04:41
Comment from: Jardineros en Madrid [Visitor] · http://jardinerosenmadrid.com/
The United States is a big and strong country, so you just need some time to recover. And you have so many opportunities... Other countries such as Spain is in a deep financial crisis, and recovery looks far far away
11/10/10 @ 07:51
Comment from: odessa [Member]
I hate that the "rich" are stingy with their table scraps. The middle class is taking the brunt of the financial woes in this country. I would venture a guess that big corporations stifle more innovation than encourage it because the big has the means and the opportunity to stomp on the little - so much for the movers and shakers.
11/10/10 @ 12:34
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