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Old 03-30-2009, 12:15 AM
 
7,359 posts, read 10,285,004 times
Reputation: 1893

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Jeffrey Sachs: Making Rich Guys Richer

Thoughts?

(I am a Jeffrey Sachs fan. Big time. Just fyi.)

 
Old 03-30-2009, 07:40 AM
 
2,095 posts, read 2,583,610 times
Reputation: 1268
I never really believed the whole "making rich guys richer and poor guys poorer."

I can clearly see from the statistics that everyone was getting richer. It's more like rich guys getting richer, and poor guys getting richer. Only rich guys are getting richer faster and that led to a bigger wealth gap.
 
Old 03-30-2009, 07:42 AM
 
29,939 posts, read 39,489,971 times
Reputation: 4799
Well one believe in capital the other believes in debt... at least at this point in our history. Who do you think ends up wealthier? Now move up to a macro level. Places like Japan and China believe in capital while we grew on debt. Who do you think ends up wealthier? This is Obama's first Black Card though and first real responsibility which speaks volumes for the fumbling.
 
Old 03-30-2009, 09:48 AM
 
7,359 posts, read 10,285,004 times
Reputation: 1893
Quote:
Originally Posted by BigJon3475 View Post
Well one believe in capital the other believes in debt... at least at this point in our history. Who do you think ends up wealthier? Now move up to a macro level. Places like Japan and China believe in capital while we grew on debt. Who do you think ends up wealthier? This is Obama's first Black Card though and first real responsibility which speaks volumes for the fumbling.
Bull****. We grew in debt because of Bush. A little factoid that you refuse to face. And now Obama is forced to provide bailouts to save the banking industry. No "fumbling" about it. Don't even talk to me about "fumbling" when that little piece of snot you voted into office--twice--just about ruined this nation. Man up and face the consequences of your vote.
 
Old 03-30-2009, 10:01 AM
 
29,939 posts, read 39,489,971 times
Reputation: 4799
Obama is at the helm of this destruction. No one else. His policies, his tripling of the debt.

Democrats prosperity -$70k/person
Republicans prosperity -$35k/person



There won't be a need to man up, Obama has already castrated himself (and us) and obligated everything possible to "social justice". He forgot this part...

Quote:
"I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States."
He just spoke it..
 
Old 03-30-2009, 10:06 AM
 
69,368 posts, read 64,169,371 times
Reputation: 9383
Quote:
Originally Posted by MovingForward View Post
Bull****. We grew in debt because of Bush. A little factoid that you refuse to face. And now Obama is forced to provide bailouts to save the banking industry. No "fumbling" about it. Don't even talk to me about "fumbling" when that little piece of snot you voted into office--twice--just about ruined this nation. Man up and face the consequences of your vote.
Oooh I see, Bush was saving his little rich friends when he provided a bailout, but Obama is forced to take similar steps and save us all...

In addition, you start off with proclaiming that Bush grew us in debt, and then defended the increased in debt spending by Obama..

man, make up your mind, either bailing out the banking industry is good or its not, either debt is good, or its not.. Stop trying to have it both ways..
 
Old 03-30-2009, 10:12 AM
 
7,359 posts, read 10,285,004 times
Reputation: 1893
Quote:
Originally Posted by pghquest View Post
Oooh I see, Bush was saving his little rich friends when he provided a bailout, but Obama is forced to take similar steps and save us all...

In addition, you start off with proclaiming that Bush grew us in debt, and then defended the increased in debt spending by Obama..

man, make up your mind, either bailing out the banking industry is good or its not, either debt is good, or its not.. Stop trying to have it both ways..
Like I said, what's your alternative?

Oh right. Give more money to the rich, who've ruined our economy already.
Let them go bankrupt with no accountability whatsoever. Let them do whatever they want. And the rest of us can just go f*ck ourselves, because who do we think we are? Do we think we actually count in our own nation? That we should have any say whatsoever in how the nation is run? Don't we know that Business is King, and that the masses should step aside and let the Big Boys do whatever they want? Who do we think we are demanding fair wages and a humane working environment? Who do we think we are demanding accountability? Oh, you're so right. So, so right. We're not f*cked enough. Let's let the multibillionaire Captains of Industry f*ck us some more.
 
Old 03-30-2009, 10:22 AM
 
Location: LEAVING CD
22,974 posts, read 27,037,719 times
Reputation: 15645
Quote:
Originally Posted by MovingForward View Post
Bull****. We grew in debt because of Bush. A little factoid that you refuse to face. And now Obama is forced to provide bailouts to save the banking industry. No "fumbling" about it. Don't even talk to me about "fumbling" when that little piece of snot you voted into office--twice--just about ruined this nation. Man up and face the consequences of your vote.
Slow down, take another hit off the joint or you're going to blow a gasket which won't be good until national healthcare kicks in!

Obama is continuing and expanding many of the things that got us here to begin with, the sooner you admit it the sooner you'll be in recovery and have lower blood pressure.
This guy who's currently in charge has shown himself to be far from the savior the left had hoped and though a different hog to suckle from not much better than Bush.
BTW, the answer may not be to let big business run amok but the answer is certainly NOT to shovel money at people who don't/won't work to try and make 'em equal at the expense of everyone else.
 
Old 03-30-2009, 10:22 AM
 
69,368 posts, read 64,169,371 times
Reputation: 9383
Quote:
Originally Posted by MovingForward View Post
Like I said, what's your alternative?

Oh right. Give more money to the rich, who've ruined our economy already.
Let them go bankrupt with no accountability whatsoever. Let them do whatever they want. And the rest of us can just go f*ck ourselves, because who do we think we are? Do we think we actually count in our own nation? That we should have any say whatsoever in how the nation is run? Don't we know that Business is King, and that the masses should step aside and let the Big Boys do whatever they want? Who do we think we are demanding fair wages and a humane working environment? Who do we think we are demanding accountability? Oh, you're so right. So, so right. We're not f*cked enough. Let's let the multibillionaire Captains of Industry f*ck us some more.
My alternative, let AIG and C go bankrupt, their business would surely get picked up by other companies. Sure, temporary hardship but it wouldnt be the first time it happened.

As for your f*ck ourself statement, thats exactly what they are doing, or more correctly, doing to our children by increasing the debt and deficit to the point that it can not be paid back.

Do you really think that letting C and AIG go bankrupt wouldnt be cheaper than the trillions being spent to bail them out, let alone the tens of trillions we'll need to pay back due to compounded interest? Please, where did you learn accounting?

You stand here and righfully so, criticize Bush for bailing out the banks, where you lose all credibility is defending Obama for doing the EXACT same thing..
 
Old 03-30-2009, 10:23 AM
 
19,226 posts, read 15,335,661 times
Reputation: 2337
Debt is manufactured at the Federal Reserve Bank during the process of manufacturing "money".

It ain't a left or right thing.
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