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    Further evidence that the rich are getting richer

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    Soxillinirob
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    Further evidence that the rich are getting richer

    Post by Soxillinirob on Sun Jan 21, 2018 8:39 pm

    Nevermind whose fault it is that this is the same news every year about this time.  As is typically the case, almost all gains every year go to the people who already have all of the money.  This is no way to grow an economy.  Handing all of the gains to millionaires and billionaires is no way to grow your middle class and ensure growth in consumption.  Supply side and trickle down don't work.  That's been proven.  We need tax policy that encourages more of the annual income growth going to the middle class and working class, and discourages it going to billionaires who won't spend it anyway.

    http://money.cnn.com/2018/01/21/news/economy/davos-oxfam-inequality-wealth/index.html

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    Re: Further evidence that the rich are getting richer

    Post by Guest on Mon Jan 22, 2018 10:28 am

    The KARK must enjoy the stupidity of the Schmuck at some perverse level


    Clearly the Schmuck lacks reading comprehension.


    First, his linked article is about the world economy, the the US economy.  Apparently the Schmuck can't tell the difference between a 3rd world shithole where corrupt governments keep the population poor while keeping the wealth for themselves and a free market system where a rising tide raises all boats


    Second, if you read the last line of the article, it suggests using tax policy to reduce wealth.  Wealth is not the same is income.  Gee, you would think a banker would know the difference.  Maybe the dumb Schmuck should write his commie heroes in Congress to do a wealth tax.  Say 1% of all net assets over 1 million


    Third, the Schmuck outright lies about billioniares not spending their wealth.  After the Trump tax cuts, just look at how many companies gave bonuses and how many companies are planning to invest within the US.


    Fourth, the Schmuck also lies about our tax policy sending income to the wealthy.  I'd love to hear this one, but I'm sure he'll lie about not having any time or maybe he'll pick on my spelling or grammar.  anybody with a brain should understand a tax cut means people get to keep more of what was already theirs in the first place


    Fifth, you know the Schmuck is lying becuase just last week he was bragging how great things have been going in the Z family household and that he is 11 years away from retiring and traveling the world at the relatively young age of 63.  Amazing how the "powers that be" are allowing this to happen.  


    However, I'm certain that the evil capitalists will steal all of the Schmuck's wealth right after the remember they forget to put our $2 gas back to $5
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    Hawk Harrelson
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    Re: Further evidence that the rich are getting richer

    Post by Hawk Harrelson on Mon Jan 22, 2018 10:46 am

    Hopefully Murph can keep SFOD strong!!
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    Soxillinirob
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    Re: Further evidence that the rich are getting richer

    Post by Soxillinirob on Mon Jan 22, 2018 10:56 am

    Deplorable Mark wrote: Wealth is not the same is income.  Gee, you would think a banker would know the difference.  Maybe the dumb Schmuck should write his commie heroes in Congress to do a wealth tax.  Say 1% of all net assets over 1 million

    I don't think anyone, including myself, is conflating income with wealth.  Granted, the two tend to get conflated and used interchangeably, akin to debt and deficit, but I'm pretty sure we all know the difference between wealth and income.  


    Third, the Schmuck outright lies about billioniares not spending their wealth.  After the Trump tax cuts, just look at how many companies gave bonuses and how many companies are planning to invest within the US.

    they've been well publicized.  We're all well aware.  But when the Walton family gets a tax cut that will drop another 7-8 billion in their laps, and they cut $1,000 bonus checks to their 20 yr employees, amounting to $5 or $10 million, they are basically throwing bread crumbs to the birds.  Is that bonus nice?  Is it appreciated?  Yes.  But does the overall policy amount to a further separating of the rich from the not-rich?  I believe so...yes.  If someone gives you billions of dollars (pulled from the federal revenues, mostly), which will lessen the safety nets that the gov't can offer to the less fortunate, my guess is that you'll gladly dish out a hundred million or so to guys like me and the rest of this board, because after that you'll still have billions left.  Trickle down!  Yay.


    Fourth, the Schmuck also lies about our tax policy sending income to the wealthy.  I'd love to hear this one, but I'm sure he'll lie about not having any time or maybe he'll pick on my spelling or grammar.  anybody with a brain should understand a tax cut means people get to keep more of what was already theirs in the first place

    Sending income to the wealthy?  No.  It's policy that is far more beneficial to the growth and wealth of the already rich and wealthy, and not beneficial to those who are week to week, or paycheck to paycheck.  Not sure what grammar has to do with that, but when you often can't formulate a coherent sentence on your best day, it's perhaps unwise to call others stupid, or whatever adjective you're using that day.


    Fifth, you know the Schmuck is lying becuase just last week he was bragging how great things have been going in the Z family household and that he is 11 years away from retiring and traveling the world at the relatively young age of 63.  Amazing how the "powers that be" are allowing this to happen.  

    I've been an avid saver and investor since the day I graduated from college.  Nothing more than that.  If you've been investing for the past 30 yrs, then you are probably very happy about how things have gone during the past eight years.  


    However, I'm certain that the evil capitalists will steal all of the Schmuck's wealth right after the remember they forget to put our $2 gas back to $5

    I'm still waiting for you to give me directions to where I can get me some of that there $2.00 gas.
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    alohafri
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    Re: Further evidence that the rich are getting richer

    Post by alohafri on Mon Jan 22, 2018 11:28 am

    Soxillinirob wrote:


    However, I'm certain that the evil capitalists will steal all of the Schmuck's wealth right after the remember they forget to put our $2 gas back to $5

    I'm still waiting for you to give me directions to where I can get me some of that there $2.00 gas.

    I do that Jewels thing, and even with a 20 cent per gallon discount, I'm still paying $2.49 a gallon.
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    alohafri
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    Re: Further evidence that the rich are getting richer

    Post by alohafri on Mon Jan 22, 2018 11:29 am

    Hawk Harrelson wrote:Hopefully Murph can keep SFOD strong!!

    Trust in Murph!
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    Soxillinirob
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    Re: Further evidence that the rich are getting richer

    Post by Soxillinirob on Mon Jan 22, 2018 11:45 am

    alohafri wrote:
    Soxillinirob wrote:


    However, I'm certain that the evil capitalists will steal all of the Schmuck's wealth right after the remember they forget to put our $2 gas back to $5

    I'm still waiting for you to give me directions to where I can get me some of that there $2.00 gas.

    I do that Jewels thing, and even with a 20 cent per gallon discount, I'm still paying $2.49 a gallon.

    I believe I paid something like 2.47 at Costco recently.  


    Check that...just paid 2.33 at Costco today.
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    Soxillinirob
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    Re: Further evidence that the rich are getting richer

    Post by Soxillinirob on Fri Feb 02, 2018 12:44 pm

    Things I've observed lately...mortgage rates are climbing very precipitously.  I don't "blame" this on Trump.  When they fell, I didn't "credit" Obama.  Granted, Obama took some actions (qualitative easing) to stimulate the markets and that indirectly lowered rates and Trump is doing things that are meant to improve our trade deficit (and I assume he'll succeed in this endeavor, eventually), but those things are lowering the value of the dollar and indirectly pushing loan rates much higher.  The housing affordability index is now falling precipitously as buying a home becomes more costly and difficult.  It was at its best and most affordable point in 2012, when buying a home was the easiest and most affordable that's been seen in many decades and/or generations. 

    Today's stock market is said to be dropping significantly out of fears of inflation.  Inflation is good and bad, depending on why it's happening and who's experiencing it.  Inflation will surely render our deficits and debt as less painful, but it'll cut into our supposed income gains and stock market gains.  None of this is rocket science.  In fact, there are some economists that would LOVE to see some inflation.

    I point these things out not to rip on Donnie.  Donnie is an asshole and a piece of shit without any of this post.  But Donnie's policies will do some positive things to the economy, just as Obama did.  Donnie's policies will have some negative, unintended consequences, just as Obama's did.  We might see some growth for the next 12-18 months.  it's hard to do a tax cut and not get SOME growth.  Once that new amount of cash in the economy becomes the norm (mid 2019), the growth stops and we then hope and pray for no recession and the $1.5-$2 trillion deficit it'll bring.  

    Not sure if this makes me a flaming lib or a an economic dumb ass, but I liked the steady, reliable growth we were having under Obama.  I don't mind sudden, huge growth, as we just experienced, but I've seen enough in my life to know there's a counter effect that we'll suffer through.  Just like when you get a span of 70 degree days in February, and then when that warm front leaves and you get a massive ice storm or 18 inches of snow as the cold front comes in, we'll see some kind of downside to this artificially created bump that's built mostly just on expectations in the stock market for 3.5% growth.  The new income levels and tax levels will be built in by 16 months from now and we'll be back to a mature economy growing at the usual 2-2.5% a year, unless we go into a massive span of inflation.   

    Again, this isn't meant to be a rip or complaint against Trump.  He can be ripped on all day for other reasons.  It's just me pointing out that the economy on a macro scale is going to go where it wants to go.  Donald is trying to get some kind of quick reaction on the positive side, which I guess I understand, but when you rush in the good, you're going to bring on the bad stuff more quickly, too.  We're somewhere between due and overdue for recessive times in this economy, so invest accordingly.  I've begun (as of a week ago) moving much of my 401k from growth funds into income funds and things that will lock in my gains and be less painful when the slowdown inevitably comes in a month, or a year or in two or three years.
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    Soxillinirob
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    Re: Further evidence that the rich are getting richer

    Post by Soxillinirob on Mon Feb 05, 2018 11:16 am

    US Treasury just announced that it'll need to borrow approximately $1 trillion to cover this year's deficit shortfalls, and that it'll need in excess of $1 trillion for each of the two years that follow this year.  What gives?  Aren't we supposed to be shrinking the deficit?  Are the tax cuts not going to result in increased revenues?

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    Re: Further evidence that the rich are getting richer

    Post by Guest on Mon Feb 05, 2018 3:04 pm

    Soxillinirob wrote:Things I've observed lately...mortgage rates are climbing very precipitously.  I don't "blame" this on Trump.  When they fell, I didn't "credit" Obama.  Granted, Obama took some actions (qualitative easing) to stimulate the markets and that indirectly lowered rates and Trump is doing things that are meant to improve our trade deficit (and I assume he'll succeed in this endeavor, eventually), but those things are lowering the value of the dollar and indirectly pushing loan rates much higher.  The housing affordability index is now falling precipitously as buying a home becomes more costly and difficult.  It was at its best and most affordable point in 2012, when buying a home was the easiest and most affordable that's been seen in many decades and/or generations. 

    Today's stock market is said to be dropping significantly out of fears of inflation.  Inflation is good and bad, depending on why it's happening and who's experiencing it.  Inflation will surely render our deficits and debt as less painful, but it'll cut into our supposed income gains and stock market gains.  None of this is rocket science.  In fact, there are some economists that would LOVE to see some inflation.

    I point these things out not to rip on Donnie.  Donnie is an asshole and a piece of shit without any of this post.  But Donnie's policies will do some positive things to the economy, just as Obama did.  Donnie's policies will have some negative, unintended consequences, just as Obama's did.  We might see some growth for the next 12-18 months.  it's hard to do a tax cut and not get SOME growth.  Once that new amount of cash in the economy becomes the norm (mid 2019), the growth stops and we then hope and pray for no recession and the $1.5-$2 trillion deficit it'll bring.  

    Not sure if this makes me a flaming lib or a an economic dumb ass, but I liked the steady, reliable growth we were having under Obama.  I don't mind sudden, huge growth, as we just experienced, but I've seen enough in my life to know there's a counter effect that we'll suffer through.  Just like when you get a span of 70 degree days in February, and then when that warm front leaves and you get a massive ice storm or 18 inches of snow as the cold front comes in, we'll see some kind of downside to this artificially created bump that's built mostly just on expectations in the stock market for 3.5% growth.  The new income levels and tax levels will be built in by 16 months from now and we'll be back to a mature economy growing at the usual 2-2.5% a year, unless we go into a massive span of inflation.   

    Again, this isn't meant to be a rip or complaint against Trump.  He can be ripped on all day for other reasons.  It's just me pointing out that the economy on a macro scale is going to go where it wants to go.  Donald is trying to get some kind of quick reaction on the positive side, which I guess I understand, but when you rush in the good, you're going to bring on the bad stuff more quickly, too.  We're somewhere between due and overdue for recessive times in this economy, so invest accordingly.  I've begun (as of a week ago) moving much of my 401k from growth funds into income funds and things that will lock in my gains and be less painful when the slowdown inevitably comes in a month, or a year or in two or three years.


    I GUESS WE ALL SHOULD HAVE PAID ATTENTION TO ROBZ LAST FRIDAY
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    Soxillinirob
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    Re: Further evidence that the rich are getting richer

    Post by Soxillinirob on Mon Feb 05, 2018 3:08 pm

    Deplorable Mark wrote:
    Soxillinirob wrote:Things I've observed lately...mortgage rates are climbing very precipitously.  I don't "blame" this on Trump.  When they fell, I didn't "credit" Obama.  Granted, Obama took some actions (qualitative easing) to stimulate the markets and that indirectly lowered rates and Trump is doing things that are meant to improve our trade deficit (and I assume he'll succeed in this endeavor, eventually), but those things are lowering the value of the dollar and indirectly pushing loan rates much higher.  The housing affordability index is now falling precipitously as buying a home becomes more costly and difficult.  It was at its best and most affordable point in 2012, when buying a home was the easiest and most affordable that's been seen in many decades and/or generations. 

    Today's stock market is said to be dropping significantly out of fears of inflation.  Inflation is good and bad, depending on why it's happening and who's experiencing it.  Inflation will surely render our deficits and debt as less painful, but it'll cut into our supposed income gains and stock market gains.  None of this is rocket science.  In fact, there are some economists that would LOVE to see some inflation.

    I point these things out not to rip on Donnie.  Donnie is an asshole and a piece of shit without any of this post.  But Donnie's policies will do some positive things to the economy, just as Obama did.  Donnie's policies will have some negative, unintended consequences, just as Obama's did.  We might see some growth for the next 12-18 months.  it's hard to do a tax cut and not get SOME growth.  Once that new amount of cash in the economy becomes the norm (mid 2019), the growth stops and we then hope and pray for no recession and the $1.5-$2 trillion deficit it'll bring.  

    Not sure if this makes me a flaming lib or a an economic dumb ass, but I liked the steady, reliable growth we were having under Obama.  I don't mind sudden, huge growth, as we just experienced, but I've seen enough in my life to know there's a counter effect that we'll suffer through.  Just like when you get a span of 70 degree days in February, and then when that warm front leaves and you get a massive ice storm or 18 inches of snow as the cold front comes in, we'll see some kind of downside to this artificially created bump that's built mostly just on expectations in the stock market for 3.5% growth.  The new income levels and tax levels will be built in by 16 months from now and we'll be back to a mature economy growing at the usual 2-2.5% a year, unless we go into a massive span of inflation.   

    Again, this isn't meant to be a rip or complaint against Trump.  He can be ripped on all day for other reasons.  It's just me pointing out that the economy on a macro scale is going to go where it wants to go.  Donald is trying to get some kind of quick reaction on the positive side, which I guess I understand, but when you rush in the good, you're going to bring on the bad stuff more quickly, too.  We're somewhere between due and overdue for recessive times in this economy, so invest accordingly.  I've begun (as of a week ago) moving much of my 401k from growth funds into income funds and things that will lock in my gains and be less painful when the slowdown inevitably comes in a month, or a year or in two or three years.


    I GUESS WE ALL SHOULD HAVE PAID ATTENTION TO ROBZ LAST FRIDAY

    Not just Friday last week.  I've been saying that kind of thing for weeks.  When you artificially stimulate the market with a tax break that'll add some cash to the markets, you're going to get a sugar rush for a bit.  If you think this shit sucks, wait until we start to have an economic slowdown, mixed with rising bond rates and growing deficits that mean absolutely no economic stimulus spending.  I just saw that the US Treasury is foreseeing approximately $1 trillion deficit this year, and even larger deficits in the following two years.  Yikes.

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