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Old 05-15-2015, 04:06 PM
 
69,372 posts, read 55,398,572 times
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Quote:
Originally Posted by dv1033 View Post
I said the result of catastrophic success.....

The poor having those things is partially a result of welfare, not entirely "capitalism".
And yet people still complain about their chosen conditional way of life, as if its someone elses fault.
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Old 05-15-2015, 04:17 PM
 
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How childish.

If you paid everyone $1000/hr you would get massive amounts of very rapid inflation for absolutely no reason. People wouldn't be able to afford those things because the prices would go through the roof overnight. All that would happen is that you would completely destroy the currency. The wealth gap would completely disappear, however.

What right-wingers don't seem to understand is that raising minimum wage isn't going to make everyone rich.
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Old 05-15-2015, 04:19 PM
 
Location: Philadelphia
11,881 posts, read 10,354,540 times
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Quote:
Originally Posted by Spatula City View Post
How childish.

If you paid everyone $1000/hr you would get massive amounts of very rapid inflation for absolutely no reason. People wouldn't be able to afford those things because the prices would go through the roof overnight. All that would happen is that you would completely destroy the currency. The wealth gap would completely disappear, however.

What right-wingers don't seem to understand is that raising minimum wage isn't going to make everyone rich.
Do you think creating $4 TRILLION in made up money since 2009 via quantitative easing will destroy the currency?

If not, why not?
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Old 05-15-2015, 05:04 PM
 
2,778 posts, read 1,421,998 times
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Quote:
Originally Posted by 2e1m5a View Post
Do you think creating $4 TRILLION in made up money since 2009 via quantitative easing will destroy the currency?

If not, why not?
I only understand enough basic economics to know that a lot of cd posters know even less than I do, but if I had to guess, I would say no... mostly because that money isn't actually entering the consumer marketplace.

The way I understand it, one of the reasons that the wealth gap is much wider than it was is because most of the QE money went into stocks and bonds. The poor/working class/people in debt/people who lost their jobs during the recession probably wouldn't have been in a position to profit from the markets because they would have been unable to borrow money (regulations helped to kill the predatory lending practices) and wouldn't have had any savings... if they had stocks but no nest egg, they would have been more likely to sell at a loss.

Keeping all of that wealth at the top, concentrated in only a few hands, is actually helping to curtail inflation because the wealthy can only buy so much and will only drive up the prices of things like expensive homes and luxury items... not consumer goods, which have a more general target market. Price fixing has been a thing in consumer markets for years, so it wouldn't surprise me if there was some negotiating going on between the govt and the big players, which are also pretty much the sole determining force of consumer pricing.

But yeah, feel free to chime in and help me out with this because economics isn't my thing, unless we're talking about the most basic level.

Last edited by Spatula City; 05-15-2015 at 05:47 PM..
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Old 05-15-2015, 05:41 PM
 
Location: ATX-HOU
10,218 posts, read 6,780,574 times
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Quote:
Originally Posted by pghquest View Post
And yet people still complain about their chosen conditional way of life, as if its someone elses fault.
Ok? Your point?
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Old 05-15-2015, 05:46 PM
 
Location: ATX-HOU
10,218 posts, read 6,780,574 times
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Quote:
Originally Posted by Spatula City View Post
I only understand enough basic economics to know that a lot of cd posters know even less than I do, but if I had to guess, I would say no... mostly because that money isn't actually entering the consumer marketplace.

The way I understand it, one of the reasons that the wealth gap is much wider than it was is because most of the QE money went into stocks and bonds. The poor/working class/people in debt/people who lost their jobs during the recession probably wouldn't have been in a position to profit from the markets because they would have been unable to borrow money (regulations helped to kill the predatory lending practices) and wouldn't have had any savings... if they had stocks but no nest egg, they would have been more likely to sell at a loss.

Keeping all of that wealth at the top, concentrated in only a few hands, is actually helping to curtail inflation because the wealthy can only buy so much and will only drive up the prices of things like expensive homes and luxury items... not consumer goods, which have a more general target market.

This is why being in debt is so risky.
It was meant to provide liquidity so banks could keep loaning. Good idea except, the central government didn't do enough to create more demand (the private sector can't do it during a recession) so most of the gains went to the folks at the top.
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Old 05-15-2015, 06:01 PM
 
2,778 posts, read 1,421,998 times
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Quote:
Originally Posted by dv1033 View Post
It was meant to provide liquidity so banks could keep loaning. Good idea except, the central government didn't do enough to create more demand (the private sector can't do it during a recession) so most of the gains went to the folks at the top.
The early bird catches the worm, I guess.

I'm not sure how else they would have created demand. Free money seems pretty appealing to me, but then again I've sworn off borrowing ever since my student loan experience.
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Old 05-15-2015, 06:46 PM
 
Location: ATX-HOU
10,218 posts, read 6,780,574 times
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Quote:
Originally Posted by Spatula City View Post
The early bird catches the worm, I guess.

I'm not sure how else they would have created demand. Free money seems pretty appealing to me, but then again I've sworn off borrowing ever since my student loan experience.
A larger stimulus. The stimulus that occurred wasn't large enough or targeted enough. A chunk of it went to state's budgets that were decimated when tax revenues plunged (like my state of texas), which helped keep some jobs. We needed more money to use on infrastructre building and research.
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Old 05-15-2015, 06:50 PM
 
Location: ATX-HOU
10,218 posts, read 6,780,574 times
Reputation: 2033
Quote:
Originally Posted by PuddingPops View Post
Why is personal responsibly never part of the equation in a liberal's mind?
It is, but most close-minded, ideological people only deal in absolutes and generalities.

Quote:
Here are the real TWO ways to approach this:

1. People working for minimum wage learn some job skills and take the initiative to improve their lives

2. Read point number 1 again.

When I was growing up and making $7.25 an hour, I never expected to raise a family on it, or go out and buy a house. I knew I had to learn a skill and get good at something marketable, so I did, and I make much more now because of it. Libs crack me up... give us cheaper housing. We already have that.. it's called section 8 here. From what I hear, it's a very wonderful place to live...
Education is certainly the answer, but the how is the question.
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Old 05-15-2015, 07:38 PM
 
Location: Wisconsin
7,215 posts, read 7,890,381 times
Reputation: 7740
Quote:
Originally Posted by Spatula City View Post
How childish.

If you paid everyone $1000/hr you would get massive amounts of very rapid inflation for absolutely no reason. People wouldn't be able to afford those things because the prices would go through the roof overnight. All that would happen is that you would completely destroy the currency. The wealth gap would completely disappear, however.

What right-wingers don't seem to understand is that raising minimum wage isn't going to make everyone rich.
Yeah, but, how about we just go back to jerking off to Fox News like the OP?
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