Current Topics
The End of the Independent Judiciary
by Ma_Republican
0 seconds ago
Our modern Sinclair Lewis?
by pondering_it_all
Today at 07:10 AM
Code for no black people': New York bar's 'racist' dress code sparks online deba
by pondering_it_all
Today at 06:57 AM
RoundTable for September 2018
by pondering_it_all
Today at 06:53 AM
Answer (Fredric Brown, 1954)
by pondering_it_all
Today at 06:41 AM
A time when politics were not all about greed
by pondering_it_all
Today at 06:35 AM
The United States v Donald Trump
by rporter314
09/24/18 12:54 PM
How the octopus got its smarts
by Ujest Shurly
09/24/18 02:32 AM
Returning rationality to public policy
by NW Ponderer
09/20/18 04:03 PM
The Savage Breast: A Music Clip Thread
by Golem
09/20/18 12:58 AM
Yom Kippur and Kol Nidre
by Golem
09/18/18 06:57 PM
Miscellaneous humor thread
by Golem
09/17/18 10:21 PM
Justice is coming
by jgw
09/17/18 09:37 PM
Flor-i-duh's Governor's Race
by Greger
09/17/18 06:19 PM
‘Unprecedented’: Natural gas expert says ‘over-pressurization’ may be to blame
by NW Ponderer
09/17/18 03:02 PM
George Conway rips Trump over tweet about Obama's '57 states' gaffe
by pdx rick
09/17/18 04:37 AM
Obama's Friday Speech
by pondering_it_all
09/14/18 06:51 AM
Woodward book breaks 93-year publishing record
by Greger
09/14/18 03:01 AM
Mike Rowe on Nike / Kaepernick and 9/11 hero Tom Burnett
by Greger
09/12/18 02:17 AM
The nuclear option
by Greger
09/12/18 01:22 AM
Forum Stats
6248 Members
58 Forums
16385 Topics
282020 Posts

Max Online: 294 @ 12/06/17 12:57 AM
Google Adsense
Page 1 of 4 1 2 3 4 >
Topic Options
#301748 - 06/18/17 03:57 PM The Hoarding of the American Dream
NW Ponderer Online   content
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16205
The Hoarding of the American Dream. While I don't agree with all of the author's conclusions, he makes a valid point about "wealth advantage." Those that has, gets. Unlike him, though, I don't think economics is a zero-sum game.

I am one that has hovered on the edge of the top quintile for most of my career. I'm not rich, but comfortable. I live in the same modest house I've lived in for nearly 30 years (but never missed a payment). I drive low-end cars for 10+ years (but can buy new, for cash). As I've matured, my income has transitioned from wages to fixed-plus-investments. I've retired early, but don't really "scrimp." I provided college for both my children with only a few outstanding loans (although earned that through the GI Bill).

I've always supported higher taxes even when that is to my disadvantage. I "invest" in local public institutions - PBS, NPR, zoos, museums. The ACLU, Human Rights Campaign, Planned Parenthood, UNCF, Red Cross, and my alma maters count on me for modest, but regular, contributions. I was active in PTA and school support activities for my local schools. I buy locally as much as I can.

I don't think I'm an aberation. I think I'm a patriotic American.
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

Top
#301778 - 06/19/17 03:34 PM Re: The Hoarding of the American Dream [Re: NW Ponderer]
NW Ponderer Online   content
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16205
<bumpity-bump-bump>
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

Top
#303045 - 09/08/17 12:43 PM Re: The Hoarding of the American Dream [Re: NW Ponderer]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8872
Loc: New Mexico (not old Mexico)
Public control of money creation
Quote:
The power to create new money is something that the government could feasibly control and administer itself, for the benefit of all. But governments have surrendered their power of seignorage to the private banking system and its investors.

This has far-reaching, negative impact because, as Mellor explains, “It is the private, bank-issued money system that leaves us with a pernicious cycle of debt and growth. Money could encourage socially and ecologically sustainable production and consumption, but only if it ceases to be a creature of the market and is reclaimed as a social and public representation of value.”

_________________________
"You can't fix a problem until you understand what the problem is." Logtroll

Top
#303188 - 09/21/17 12:48 PM Re: The Hoarding of the American Dream [Re: logtroll]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8872
Loc: New Mexico (not old Mexico)
Another take on Universal Basic Income:

UBI could fire the imagination
_________________________
"You can't fix a problem until you understand what the problem is." Logtroll

Top
#303198 - 09/22/17 01:49 PM Re: The Hoarding of the American Dream [Re: logtroll]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8872
Loc: New Mexico (not old Mexico)
Quote:
So here’s a partisan YouGov poll on whether people think they could survive the apocalypse. Republicans think they’re more likely to survive the apocalypse than other people in their communities. Democrats and independents, less so. What do you guys think?

Rs or Ds more likely to survive the Apocalypse?

I think this indicates the most basic difference between Cons and Libs. Cons think in terms of defending what's theirs from others, Libs think in terms of cooperating to better survive.

Tendencies... not to be taken as a black and white absolute fact.
_________________________
"You can't fix a problem until you understand what the problem is." Logtroll

Top
#303204 - 09/23/17 03:38 AM Re: The Hoarding of the American Dream [Re: NW Ponderer]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7891
Loc: North San Diego County
But I thought Apocalypse includes Rapture. Why would all those Conservatives even care what happens on Earth once they are taken up by Jesus into heaven. Or do they not really believe they will be included? Christianity kind sucks if you know you will not be saved. Might as well be a hedonist, smoke pot, and go to orgies.

But I can tell you, with all the Conservatives up in heaven, us Liberals are all going to have a great time down here on Earth. We'll make the US a Democratic-Socialist paradise: Health care for all, be as gay as you want, legal pot, free abortion on demand (send those babies directly to heaven), Queer Jewish Woman for President, etc.

Top
#303286 - 10/02/17 11:33 AM Re: The Hoarding of the American Dream [Re: NW Ponderer]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8872
Loc: New Mexico (not old Mexico)
_________________________
"You can't fix a problem until you understand what the problem is." Logtroll

Top
#303293 - 10/02/17 06:59 PM Re: The Hoarding of the American Dream [Re: NW Ponderer]
NW Ponderer Online   content
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16205
The central quote:
Quote:
Adam Smith, the father of modern capitalism, envisioned financial services (and I stress the word “service”) as an industry that didn’t exist as an end in itself, but rather as a helpmeet to other types of business. Yet lending to Main Street is now a minority of what the largest banks in the country do. In the 1970s, most of their financial flows, which of course come directly from our savings, would have been funneled into new business investment. Today, only about 15 percent of the money coming out of the largest financial institutions goes to that purpose. The rest exists in a closed loop of trading; institutions facilitate and engage in the buying and selling of stocks, bonds, real estate and other assets that mainly enriches the 20 percent of the population that owns 80 percent of that asset base. This doesn’t help growth, but it does fuel the wealth gap.
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

Top
#303304 - 10/02/17 11:54 PM Re: The Hoarding of the American Dream [Re: NW Ponderer]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7891
Loc: North San Diego County
I just heard a funny story on PBS radio: Republicans want to "unleash the economy" by cutting taxes of business and the rich, but this kind of move will drive up prices and wages, spurring inflation.

Yellen and the Fed have been doing their best to keep inflation down and say the economy is doing pretty well. So Republican fiscal policy is fighting Fed policy!

The truly ironic thing about this is that people with dollars (IE. the rich) HATE inflation because it drains the value out of their assets over time. The rich should support Yellen and disavow Republican plans to fiddle with taxes to increase inflation. The poor and working class (with fixed rate mortgages) should love this plan because it makes their mortgages smaller in terms of their income.

Top
#303326 - 10/03/17 05:47 PM Re: The Hoarding of the American Dream [Re: NW Ponderer]
NW Ponderer Online   content
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16205
Big banks and investment "advisors" (i.e. finance industry) LOVE inflation. They thrive on "churn" - the rapid turnover of assets - because they make their inordinate money on transactions, not holding assets. Inflation increases turnover, hence their bottom line. That's why they're promoting Kevin Warsh as Yellen's replacement as Fed chair. It would not be good for Trump, though, so if be skeptical (since the bulk of Trump's money comes from borrowing).
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

Top
Page 1 of 4 1 2 3 4 >

Who's Online
0 registered (), 23 Guests and 2 Spiders online.
Key: Admin, Global Mod, Mod
Newest Members
TrentonP, Nosf50, erumonej, Jensen Breck, Albertapkr
6248 Registered Users
A2