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This "free market" that so many on CD have determined as the best construct to set wages by, has failed to materialize as a viable system for the prevention of manipulation. It's noteworthy that people seem blind to the practical realities of our financial system, instead it is commonly seen a a kind of neutral haven of separate but equal interests. Worse is the growing suspicion of the poor, as though they account for what is wrong with western economics. All in all, I'd have to say, those in power have quite a grip on the public consciousness.
This "free market" that so many on CD have determined as the best construct to set wages by, has failed to materialize as a viable system for the prevention of manipulation. It's noteworthy that people seem blind to the practical realities of our financial system, instead it is commonly seen a a kind of neutral haven of separate but equal interests. Worse is the growing suspicion of the poor, as though they account for what is wrong with western economics. All in all, I'd have to say, those in power have quite a grip on the public consciousness.
Agreed. What the theorists never take into account is the reality of the human condition that includes corruption and those who don't mind breaking and flaunting laws in the quest of money. Unfortunately the corrupt have a major advantage in any kind of economic system and ultimately they do take over the government and the system itself. The poor and immigrants are always favorite whipping boys for the failure of the system itself.
Finally a progressive calls out the Fed for crony capitalism:
"On October 30, a very angry Ralph Nader wrote Janet Yellen an open letter on behalf of "Savers of America", asking her to imagine "what we, the savers, have to endure because of plutocratic, crony capitalism for which the Federal Reserve has long been a leading Tribune."
In the letter, reproduced below, Nader bashes the "tediously over-dramatic indecision as to when interest rates will be raised"; demands that the Fed not "lecture us about the Fed not being “political.” When you are the captives of the financial industry, led by the too-big-to-fail banks, you are generically “political.” So political in fact that you have brazenly interpreted your legal authority as to become the de facto regulator of our economy, the de facto printer of money on a huge scale (“quantitative easing” is the euphemism for artificially boosting the stock market) and the leader of the Washington bailout machine crony capitalism when big business, especially a shaky Wall Street firm, indulges in manipulative, avaricious, speculative binges with our money", and in short wants to know when the Fed will put the interests of Main Street over those of Wall Street, and stop crushing the savers of America."
We know that tons of money went from government to the rich, but, we see the raging debate not as a thing questioning this humongous theft but moreover the real anger seems to be coming from those who are upset over the fifteen dollar and hour minimum wage proposal. We truly hate the low men in America, elevating the rich seems to be an agreeable thing, but we don't want the poor to have
These types of comments are simply unnecessarily divisive and wrong headed. We need to get it out of our heads that the dollar amounts are more important than the underlying thinking. Greed is a mindset that spreads like a virus. Doesn't matter whether it's done by the rich or the poor, it hurts everyone. You can't excuse greed from one group while condemning it in another. It also presents false choice...that we must choose between fighting greed at the top or fighting it at the bottom. It's not either/or. It's both.
It's time we start fighting the right enemies.
A virtuous war would be one that rewards society’s honest earners and productive contributors, while punishing society’s predators, pirates, and parasites—all without regard to anyone’s income level.
These types of comments are simply unnecessarily divisive and wrong headed. We need to get it out of our heads that the dollar amounts are more important than the underlying thinking. Greed is a mindset that spreads like a virus. Doesn't matter whether it's done by the rich or the poor, it hurts everyone. You can't excuse greed from one group while condemning it in another. It also presents false choice...that we must choose between fighting greed at the top or fighting it at the bottom. It's not either/or. It's both.
It's time we start fighting the right enemies.
A virtuous war would be one that rewards society’s honest earners and productive contributors, while punishing society’s predators, pirates, and parasites—all without regard to anyone’s income level.
These types of comments are simply unnecessarily divisive and wrong headed. We need to get it out of our heads that the dollar amounts are more important than the underlying thinking. Greed is a mindset that spreads like a virus. Doesn't matter whether it's done by the rich or the poor, it hurts everyone. You can't excuse greed from one group while condemning it in another. It also presents false choice...that we must choose between fighting greed at the top or fighting it at the bottom. It's not either/or. It's both.
It's time we start fighting the right enemies.
A virtuous war would be one that rewards society’s honest earners and productive contributors, while punishing society’s predators, pirates, and parasites—all without regard to anyone’s income level.
Thanks for your opinion, the fact of our disagreement doesn't necessarily validate either of our views as a righteous thing seeking universal agreement. I'll add to my comment a thought that pertains to your contention of greed on the part of those seeking a just compensation in the form of wages.
"Fighting greed"on the bottom, in light of our recent experience with Wall street excesses, doesn't seem to have the same value as an effort to fight greed at the levels where it's ability to harm is greatest. I'd much rather weigh the two with regard to the potential for damage and determine the need to fight on that basis, if that seems divisive from where you stand, so be it. The "greed" of those on the bottom is simply wishful thinking, the greed of those on top is a real threat to your financial position as we have already witnessed in the last economic meltdown. I don't fear the low man's greed...
Greed is simply the wanting of excess, I don't equate the acts of those on the bottom with the type of greed we have seen in the latest round of Wall street malfeasance, nor is the labor demand of fair compensation a thing comparable to the systemic greed we know is an integral part of our financial system. To hear the constant badgering of the low men in society on various forums is a divisive experience, and I'm not fearful of a divisive society to the extent that I fear the blaming of the poor for our troubles caused by those on top.
So, feel free to fear the low mans ambitions, call it greed, castigate him for his wanting, lump him in with the likes of Bernie Madoff if that makes you feel better, but please try to understand the difference between hoping for something that improves your life and that wanting which brings misery to millions. The divide you allude to is present in all of the conversations surrounding the minimum wage disputes, I'm not seeking to further that division but I'm certainly not going to accept the attempts to raise the MW as a comparison of Wall street greed.
With U6 unemploynent below 10% (finally!!!) and wage gains being solid in an economy with historically low inflation, where is the justification for keeping rates this low?
The fed needs to raise the interest rate. This has gone on for long enough. Our economy is getting addicted to low interest rates like a heroin and that isn't good.
With U6 unemploynent below 10% (finally!!!) and wage gains being solid in an economy with historically low inflation, where is the justification for keeping rates this low?
The fed needs to raise the interest rate. This has gone on for long enough. Our economy is getting addicted to low interest rates like a heroin and that isn't good.
You don't get it, don't you? There is no real economy. Our economy has been dead since 2001 and can't come back unless we go thru the dark forest of deflation and experience some pain. No real economic growth is possible until deflation is allowed to do it's job.
What we had since 2001 is interest rate manipulation and since 2008 massive theft of public money. The Fed has stolen trillions of taxpayer money and gave it to the Rich, to speculator class, to Wall Street.
Everything besides stocks and real estate feels like we are in depression. That is becuase we are in depression and the Fed just proped up stocks and real estate with our taxpayers money.
Raising interest rates will bring the end to this Scam. The Fed knows that and that's why is afraid to raise rates. We never had any real recovery in America since 2008. It was all one big scam and greatest theft of public money in the history of the world.
You don't get it, don't you? There is no real economy. Our economy has been dead since 2001 and can't come back unless we go thru the dark forest of deflation and experience some pain. No real economic growth is possible until deflation is allowed to do it's job.
What we had since 2001 is interest rate manipulation and since 2008 massive theft of public money. The Fed has stolen trillions of taxpayer money and gave it to the Rich, to speculator class, to Wall Street.
Everything besides stocks and real estate feels like we are in depression. That is becuase we are in depression and the Fed just proped up stocks and real estate with our taxpayers money.
Raising interest rates will bring the end to this Scam. The Fed knows that and that's why is afraid to raise rates. We never had any real recovery in America since 2008. It was all one big scam and greatest theft of public money in the history of the world.
Chill out with the doom and gloom. It's not all so bad. An increase in interest rates isn't going to cause a deflation spiral. Our country hasnt experienced one of those in over a century and it isn't going to happen anytime soon.
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