OT: $18 trillion is just a drop in the bucket

[appalachiatiger]

WARSH AND DRUCKENMILLER: An asset-rich, income-poor economy. "The aggregate wealth of U.S. households...just hit a new high of $81.8 trillion.

That's more than $26 trillion in wealth added since 2009. No wonder most on Wall Street applaud the Fed's unrelenting balance-sheet recovery strategy. It's great news for those households and businesses with large asset holdings, high risk tolerances and easy access to credit.

Yet it provides little solace for families and small businesses that must rely on their income statements to pay the bills. About half of American households do not own any stocks and more than one-third don't own a residence.

Never mind the retirees who are straining to make the most of their golden years on bond returns." Kevin Warsh and Stanley Druckenmiller

 

[GaTiger04Ever]

The rich get richer....

 

[appalachiatiger]

thats the capitalsim is suppose to work

it grows the total economy really fast and becomes top heavy

then when it stalls- the govt has to take the wealth and redistribute it

so the rich can have a game again to accumulate it all

thata the game

if u redistribute and keep even steven all the time- then an economy will not grow

and capitalism will fail if when it all accumulates tat the top that its not taken away and redistributed

 

[FreeSC]

Actually, most people are getting richer, including the "poor".
There is no upper limit on wealth, nor should there be. But there is a lower limit. It's zero. So by definition, yes, the rich will get richer, unless it is stolen from them, either by an individual, or by a despotic government (as the communists have historically done. Of course, in those countries, absolute poverty pervades. Hope no one on here is foolish enough to want that.)

 

[appalachiatiger]

If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.

-Henry David Thoreau, "Walden"

 

[appalachiatiger]

free sc

that first line is non sense

love most your post but saying the poor are getting wealthier

or even the middle class

over the last 10 years you have seen scores of middle class drop richs and shop at wal mart

you have seen scores rely more on govt aid including food stamps

just pure non sense saying the poor are getting wealtheir lol

 

[1Clemzunfan]

Nm
This post was edited on 6/20 11:30 AM by 1Clemzunfan

 

[bigcatfg3]

Golly its so unfair that those who work hard and invest well are doing better.
They need to have that wealth taken from them and given to those who don't have as much.
If everyone had the same amount of money, everything would be OK.

 

[pharout73]

I think the wealthy should all volunteer to start over again....give it all to the government to be wasted...I mean invested.

New Game...

 

[appalachiatiger]

thats hilarious

but the bottom should at oeast be enough that the govt doesnt have to chip in

or at least thats what i think

leave the govt out of

but if u think its okay to pay people peanuts

AND the govt should help them either

then maybe thats just a southern baptist view

 

[appalachiatiger]

shoot i beet if carl icahn or warren buffets wealth was redsitributed

they would have most of it back in 20 years

 

[CU1TruTiger4Life]

Originally posted by appalachiatiger:
free sc

that first line is non sense

love most your post but saying the poor are getting wealthier

or even the middle class

over the last 10 years you have seen scores of middle class drop richs and shop at wal mart

you have seen scores rely more on govt aid including food stamps

just pure non sense saying the poor are getting wealtheir lol

The 'poor' in the US typically are in the top 20% of the wealthiest people in the world. At least 80% of humanity lives on less than $10 a day. I'm pretty sure anyone on government assistance lives on more than $10 a day. Even the panhandlers can bring that in. You'd be hard pressed to find someone in the US not among the top 20%. In terms of all of humanity, all Americans are getting richer. I'd venture a guess that if you own a car, a TV and have a roof over your head, you are probably in the top 5-10%

 

[nextoffensivecoord]

Originally posted by pharout73:
I think the wealthy should all volunteer to start over again....give it all to the government to be wasted...I mean invested.

New Game...

Yea, those roads and schools are a huge waste.

 

[appalachiatiger]

lol

is this what u meant to say just in larrys thread

"There are some selfish, greedy, self-serving, short sighted and ignorant people -"

thats what makes capitalism work now right? lol

 

[appalachiatiger]

holy batman lol

 

[GaTiger04Ever]

Nobody wants an unfair playing field, meaning if you get wealthy it is taken from you and given to the poor; you work hard, you should get to keep your money. The issue is the current state of things is slated unfairly in the opposite manner, the enormity of wealth being concentrated in the hands of a very few ultra(imcomprehensibly)wealthy is dissolving the middle class. Envision it this way, there is a finite pool of wealth that exists. This means the more of that pool the 1% absorb, the less wealth is available to the other 99%. They are draining the wealth available to everyone else, while inflation dn other factors cause things to continually get more expensive. Thus making nearly everyone "poorer" over time, relatively speaking. If you recall, the last time things were this out of balance, we had the Great Depression. And the look at where it is the lowest; when our the Greatest generation was working and the middle class amassed so much wealth and the country flourished like it never has before or since. When everyone recalls how great America was and they want to get back to...well, those are the years we all recall. This is not a sustainable situation, folks.

 

[nextoffensivecoord]

Igachoo's head will explode promptly after he reads this thread.

 

[Slick Willy]

Just curious, what % of taxes collected go towards roads and schools?

 

[scotchtiger]

Originally posted by CU1TruTiger4Life:

Originally posted by appalachiatiger:
free sc

that first line is non sense

love most your post but saying the poor are getting wealthier

or even the middle class

over the last 10 years you have seen scores of middle class drop richs and shop at wal mart

you have seen scores rely more on govt aid including food stamps

just pure non sense saying the poor are getting wealtheir lol

The 'poor' in the US typically are in the top 20% of the wealthiest people in the world. At least 80% of humanity lives on less than $10 a day. I'm pretty sure anyone on government assistance lives on more than $10 a day. Even the panhandlers can bring that in. You'd be hard pressed to find someone in the US not among the top 20%. In terms of all of humanity, all Americans are getting richer. I'd venture a guess that if you own a car, a TV and have a roof over your head, you are probably in the top 5-10%

Good point. A quick Google search revealed that if you make $34K in the US, you are a global 1%er.

It goes on to say that the global median income is $1,225 per year.

If you even attempt to work full-time, even at low wages, you are likely in the top 10% globally.

Let's get some perspective folks. This idea that we have to take from high achievers and hand that money out to folks who may or may not work hard for it and already have a far greater quality of life than the vast majority of the world seems, um, odd.

How do you go about determining the "fair" amount of someone's legitimate earnings that should be forcibly taken and redistributed to others anyways? It's a slippery slope when we start vilifying a segment of the population and targeting them in hopes of solving this problem.

Those darn 1%ers