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All the bottom 50% have to do to have wealth is go out and EARN it. They don't HAVE it, ONLY because they HAVEN'T EARNED IT.
If I work hard, earn wealth and save it, why is that an issue in a bums, or serf's, to use your apparent self-description, failure to do so.
You all act like the reason you don't have wealth is because I do, and it isn't true.
Is that the motto, slogan and policy statement of Club "L".
"We are serfs only 'cause others have worked, earned and saved."
You haven't got squat. Whatever wealth you THINK you might have is akin to pimple on a flea's behind. You're a slave just like everyone else. How do I know? Because your every utterance proves it.
Wealth is not earned and saved ... it is accumulated. Nobody EARNS and saves 6 Billion Dollars ..... or even 1 Billion, or even 200 Million. To suggest such a thing is absurd. Such volumes of wealth are accumulated primarily by extraction/exploitation of monopolized, fixed markets, save for very rare exceptions who may have started out small, but eventually became that way in the end.
Sure, there are those examples of self made, successful individuals who have done quite well for themselves, and more power to them. I'm all for that, and applaud such success. But that is not what I'm referring to here ... I'm talking about the elite class of wealthy ... the corporate owners and industry giants. They didn't get that way because of hard work, and their rewards are only exceeded by the negative impact their brand of exploitation imposes on the overall economy and health of the system.
These corporations are financial predators, and yes, their gains most OFTEN come at the expense of everyone else. And frequently, not just at the financial level, but on many other levels as well.
Capitalism sucks. Period. I know that may sound shocking, but it's true -- at least of unregulated, laissez-faire "free market" capitalism. It screws the poor and middle class out of a decent living, while enriching the corporations that send our jobs overseas and making the fat cats even fatter. It is a disgusting, evil system based upon greed and avarice. It is based on the lust for more, more, MORE while stopping at nothing to feed that desire.
In a capitalist system, corporate execs will slash thousands of American jobs to add a few pennies to their annual bonuses. They will send skilled jobs to China and Cambodia, laying off American workers and forcing children to work in sweatshops for pennies per day. These soulless organizations will sell out American workers to save a pittance, reaping record profits while we grow more and more desperate. If people here are fortunate enough to keep their jobs, they'll see their wages slashed, pensions cut and benefits scaled back. When unions try to stand up for workers rights, the government moves in to bust the unions in the name of "saving money" (look at what's happening in Wisconsin). However, raising taxes on the rich and corporations is out of the question. The government gives corporate behemoths tax breaks and exemptions and even bailouts while cutting essential services like education and unemployment benefits. It is disgusting.
It's not just about jobs either. Take healthcare. A man works hard, goes to college, and gets a good job with health benefits. If he loses his "good job," he'll be out of luck, becoming one of the millions of uninsured Americans. At least in almost any other developed country, you don't have to worry about lacking health insurance because you lose your job. Also, what of all the people with pre-existing conditions - the private health insurance companies look for ways to deny them.
People keep talking about "high taxes" and how they don't want to pay taxes. I really don't get this. I'd rather pay higher taxes and get better services than save money on taxes and have to fight the corporate machine to get essential services like healthcare. I'd rather tax the living crap out of the rich and corporations to ensure everyone gets a free education, a living-wage job, a home, unlimited unemployment insurance and guaranteed access to free or very low-cost healthcare and prescription drugs.
100% correct. Chase, Citi and wells fargo get bailed out by Dems and repugs. Even if there is another financial meltdown, the SEC has no laws protecting the taxpayers from bailouts and bank fraud.
As you swipe your debit or credit card from Chase, know they are using that to build NEW nuclear reactors in South Texas, which they are lobbying for right now. With the same company from Japan involved with the current catstrophe and meltdown.
It is true that the hardest part is getting started, but I started my biz on credit cards. However, I don't think that is any way akin to be stolen, nor do I see it as devaluation of the currency.
I agree, starting a business on a credit card does not devalue the currency - unless the credit line is issued by the federal reserve by the billions, at no interest, and you're JP Morgan Chase.
My point was that for nearly 30 years we have a financial system where the goal has been to inflate the value of assets, by (more or less) letting the banks print money. This dilutes the purchasing power of everyone who doesn't have hundreds of millions in assets. The rest of us don't save, and instead we borrow to consume.
Quote:
Originally Posted by jeffington
What does devalue the currency is giving it to people who buy stuff with money that was given to them for "free", ie, not in exchange for anything of value, i.e. "welfare".
maybe in theory.
in practice, the "welfare queens" of this country are the primary dealers
You haven't got squat. Whatever wealth you THINK you might have is akin to pimple on a flea's behind. You're a slave just like everyone else. How do I know? Because your every utterance proves it.
Wealth is not earned and saved ... it is accumulated. Nobody EARNS and saves 6 Billion Dollars ..... or even 1 Billion, or even 200 Million. To suggest such a thing is absurd. Such volumes of wealth are accumulated primarily by extraction/exploitation of monopolized, fixed markets, save for very rare exceptions who may have started out small, but eventually became that way in the end.
Sure, there are those examples of self made, successful individuals who have done quite well for themselves, and more power to them. I'm all for that, and applaud such success. But that is not what I'm referring to here ... I'm talking about the elite class of wealthy ... the corporate owners and industry giants. They didn't get that way because of hard work, and their rewards are only exceeded by the negative impact their brand of exploitation imposes on the overall economy and health of the system.
These corporations are financial predators, and yes, their gains most OFTEN come at the expense of everyone else. And frequently, not just at the financial level, but on many other levels as well.
Your post must have a lifetime Gold Card membership in Club L. All you do by such titlting at windmills in continue your lack of success. Instead of resenting the successfull, you should respect and emulate them, so one day, you too could leave Club L and join Club W - like me!!
You haven't got squat. Whatever wealth you THINK you might have is akin to pimple on a flea's behind. You're a slave just like everyone else. How do I know? Because your every utterance proves it.
Wealth is not earned and saved ... it is accumulated. Nobody EARNS and saves 6 Billion Dollars ..... or even 1 Billion, or even 200 Million. To suggest such a thing is absurd. Such volumes of wealth are accumulated primarily by extraction/exploitation of monopolized, fixed markets, save for very rare exceptions who may have started out small, but eventually became that way in the end.
Sure, there are those examples of self made, successful individuals who have done quite well for themselves, and more power to them. I'm all for that, and applaud such success. But that is not what I'm referring to here ... I'm talking about the elite class of wealthy ... the corporate owners and industry giants. They didn't get that way because of hard work, and their rewards are only exceeded by the negative impact their brand of exploitation imposes on the overall economy and health of the system.
These corporations are financial predators, and yes, their gains most OFTEN come at the expense of everyone else. And frequently, not just at the financial level, but on many other levels as well.
I have pity for you and your distorted view of life. You live in the land of opportunity, of Milk and Honey, and all you can do is bemoan the fact that some who started earlier than you, worked harder and smarter than you, have more than you.
Boo Hoo, Boo Hoo, Boo Hoo...... Club LLLLLLLLL (self imposed) GET A CLUE.
It never fails. Always the false assumptions and jumping to conclusions. First, I'm not a liberal, so your entire rant is .. baloney.
The most likely reason for this confusion of yours is that you falsely believe you are in a free market capitalist system ... that too is baloney.
What we have is a gigantic ponzi scheme posing as free market to keep the suckers in play. The dealer stacked the deck ... you're a mark, pure and simple.
I'm all for free market capitalism ... in theory, it should work great. But until we have such a thing .... it's still a theory.
If your post thinks what I wrote is a rant, then your post is a bigger fool than I thought it was.
Your post must have a lifetime Gold Card membership in Club L. All you do by such titlting at windmills in continue your lack of success. Instead of resenting the successfull, you should respect and emulate them, so one day, you too could leave Club L and join Club W - like me!!
Quote:
Originally Posted by jeffington
I have pity for you and your distorted view of life. You live in the land of opportunity, of Milk and Honey, and all you can do is bemoan the fact that some who started earlier than you, worked harder and smarter than you, have more than you.
Boo Hoo, Boo Hoo, Boo Hoo...... Club LLLLLLLLL (self imposed) GET A CLUE.
Quote:
Originally Posted by jeffington
If your post thinks what I wrote is a rant, then your post is a bigger fool than I thought it was.
I feel horrible for people who even dare to respond with zeal and passion on the subject, assuming others wouldn't respond as trolls.
I agree, starting a business on a credit card does not devalue the currency - unless the credit line is issued by the federal reserve by the billions, at no interest, and you're JP Morgan Chase.
My point was that for nearly 30 years we have a financial system where the goal has been to inflate the value of assets, by (more or less) letting the banks print money. This dilutes the purchasing power of everyone who doesn't have hundreds of millions in assets. The rest of us don't save, and instead we borrow to consume.
maybe in theory.
in practice, the "welfare queens" of this country are the primary dealers
Correct. And it's sad how many people don't understand how creating new money out of nothing devalues all money and assets denominated in dollars that already exist, including people's savings. But even those that understand this basic level common sense stuff, don't understand the full magnitude of the problem which goes far beyond that.
The problem is not a "1 to 1" equation .... it's not simple math such as doubling the money supply effectively halving the value .... it's way worse ... impossible to quantify ... and variable based on the interest rates.
For example, if the Federal Reserve creates, lets say, $1000 new dollars. They charge Uncle Sam (you and me) 2.5%. or $25. That is tacked onto the national debt. Now, the FED issues that $1000 to a bank at 2.5%. That has already added a 5% debt load on each dollar ... or $50 in this case. Now, that $1000 is really $950. The Bank can then take that $1000, and as permitted by the fractional reserve banking regulations, lend 10 times that amount, or $10,000, and charge what ever the going commercial or residential rates are for real estate loans or car loans or what have you. Let's say that averages out to a rate of 6%. That 6% isn't 6% of the original $1000 ... it is 6% of $10,000, or $600. So, add the initial debt load of $50 + $600, you have the FED and their Banking partner making a $650 profit from an "original" $1000. OK ? That's bad, but it's even worse than it looks. If that "original" $1000 was actually worth $1000, that would mean that the FED and their outlet Bank took $650 of that $1000, leaving only $350 of real cash for the "system". But since that original $1000 was created out of thin air, and not worth a single penny in reality ... where does that $650 profit the FED and the Bank made on the transaction actually come from? It comes from the collective value of that which exists inside the system at the time that $1000 was created.
So the theft is quite overt even though it is not being recognized. But it is felt in the form of rising prices, failing business, and lost jobs, because SOMEBODY or SOMETHING has to pay that $650 SOMEHOW.
The impact isn't immediate, because that $650 isn't extracted immediately, it is paid over time, which means it also isn't $650 ... it will be way more in terms of compound interest such as that of a home or car loan.
In such an "economic model" there is some production value that is generated by the injection of that $1000 turned into $10,000 by the Bank. Let's say that entire $10,000 was lent to a business that managed to turn a 15% profit on that money. This $150 profit to the business is still just a fraction of the $650 the FED and Bank made right from the start, and only reduces the amount being "extracted" from the system.
This is of course a "simplified" scenario, and there are many other elements and variables at work, such as the creation of a bond for that original $1000 ... an it's rate of return ... and where the $10,000 goes and the terms of repayment. ALSO ... the mechanisms at work literally does contract the actual cash supply in circulation, depending on methods of repayment. Whether or not the original $1000 was an electronic creation or actual printed money is irrelevant, since we know that the additional $9,000 created from the original $1000 by the Bank is electronic in nature. If the repayment of that money comes from cash payments, some portion of that cash is being removed from circulation.
With all of that said ... it really can be summed up in much fewer words. What this REALLY is, is a gigantic counterfeiting operation by the "Primary Dealer" .. the private international gangsters calling themselves the Federal Reserve, using their lackeys at the US Treasury to perform the labor of creating money from paper and ink, and bribing congress to pass phony laws allowing such counterfeiting to continue.
And since it's been going on for almost 100 years, the reality is you CAN "Fool most of the people, all of the time". The ones they can't fool or bribe, they kill.
Your post must have a lifetime Gold Card membership in Club L. All you do by such titlting at windmills in continue your lack of success. Instead of resenting the successfull, you should respect and emulate them, so one day, you too could leave Club L and join Club W - like me!!
In fairness, success is a state of mind; it is subjective.
Maybe he is emulating Mahatma Gandhi, Martin Luther King or Mitch Snyder.
I have pity for you and your distorted view of life. You live in the land of opportunity, of Milk and Honey, and all you can do is bemoan the fact that some who started earlier than you, worked harder and smarter than you, have more than you.
Boo Hoo, Boo Hoo, Boo Hoo...... Club LLLLLLLLL (self imposed) GET A CLUE.
What a mature response. I suggest you stick to the Xbox, and let adults deal with adult topics.
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To suggest such a thing is absurd. Such volumes of wealth are accumulated primarily by extraction/exploitation of monopolized, fixed markets, save for very rare exceptions who may have started out small, but eventually became that way in the end.
