Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Instead of complaining how the 1% have half of the world's wealth, you should be making your own wealth, and keeping that wealth among the people you want to be wealthy.
Instead of complaining how the 1% have half of the world's wealth, you should be making your own wealth, and keeping that wealth among the people you want to be wealthy.
This is over simplification of a very serious problem. While many on the left do not fully understand what it is they are fighting, many, left and right, recognize that the issue is tied to the central banking system, the Federal Reserve, which is a private corporate bank that loans money to the US government with interest. This literally means that the US is in a state of perpetual debt that can't logically be repaid as it's not based on any physical substance (the gold standard was tossed away in the 1930).
The '1%' most likely has some kind of connection to the central bank, which relies on the burden of debt and political influence to keep out of trouble. The issue with the 1% is that their money might not have actually been earned or even exist validly. Many on the left have over simplified this by saying things like 'raise the minimum wage' or 'pay CEOs less.' Neither of these actually solve a real financial problem.
The 1% aren't just the wealthy though. Plenty of people who are upper or upper middle class earned their wealth simply by working. True, they probably work for (be it directly or via chain of command) a 1%, but not always. The issue isn't just for those who have more than they need; the real issue is those who have what they have without doing anything or doing something that is incredibly unethical, like creating a corrupt central banking system.
Instead of complaining how the 1% have half of the world's wealth, you should be making your own wealth, and keeping that wealth among the people you want to be wealthy.
I agree.
I made my own wealth......and try to buy locally as much as possible.
If I do not like a company......I will pay more money to buy from their competition.
Instead of complaining how the 1% have half of the world's wealth, you should be making your own wealth, and keeping that wealth among the people you want to be wealthy.
Marriner S. Eccles, who served as Franklin D. Roosevelt's Chairman of the Federal Reserve from November 1934 to February 1948, detailed what he believed caused the Depression in his memoirs, Beckoning Frontiers (New York, Alfred A. Knopf, 1951).
As mass production has to be accompanied by mass consumption, mass consumption, in turn, implies a distribution of wealth -- not of existing wealth, but of wealth as it is currently produced -- to provide men with buying power equal to the amount of goods and services offered by the nation's economic machinery. [Emphasis in original.]
Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped.
Marriner S. Eccles, who served as Franklin D. Roosevelt's Chairman of the Federal Reserve from November 1934 to February 1948, detailed what he believed caused the Depression in his memoirs, Beckoning Frontiers (New York, Alfred A. Knopf, 1951).
That is funny. Mr. Eccles was the one most responsible for turning a recession into a depression. He allowed the money supply to drop dramatically. I suggest reading Milton Friedman's views on money policy and the Great Depression.
Quote:
The Great Depression, like most other periods of severe unemployment, was
produced by government mismanagement rather than by any inherent instability of
the private economy.
This is over simplification of a very serious problem. While many on the left do not fully understand what it is they are fighting, many, left and right, recognize that the issue is tied to the central banking system, the Federal Reserve, which is a private corporate bank that loans money to the US government with interest. This literally means that the US is in a state of perpetual debt that can't logically be repaid as it's not based on any physical substance (the gold standard was tossed away in the 1930).
The '1%' most likely has some kind of connection to the central bank, which relies on the burden of debt and political influence to keep out of trouble. The issue with the 1% is that their money might not have actually been earned or even exist validly. Many on the left have over simplified this by saying things like 'raise the minimum wage' or 'pay CEOs less.' Neither of these actually solve a real financial problem.
The 1% aren't just the wealthy though. Plenty of people who are upper or upper middle class earned their wealth simply by working. True, they probably work for (be it directly or via chain of command) a 1%, but not always. The issue isn't just for those who have more than they need; the real issue is those who have what they have without doing anything or doing something that is incredibly unethical, like creating a corrupt central banking system.
Amen! Well said! The same corrupt banks The Fed deems "too big to fail or jail" today were the banking institutions that conspired to create our financial system in 1910-and people STILL don't get it.
Instead of complaining how the 1% have half of the world's wealth, you should be making your own wealth, and keeping that wealth among the people you want to be wealthy.
Even if we admit it, what are we going to do about it, nothing.
Quote:
Originally Posted by TheHurricaneKid
Instead of complaining how the 1% have half of the world's wealth, you should be making your own wealth, and keeping that wealth among the people you want to be wealthy.
That is laughably the answer that came from the mouth of every person who never worked for a damn thing.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
