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Income Inequality
Interesting.
I guess for those raised in the 50-70s you now see why it's the "golden age". |
Dumbest thing I've seen in a while. It doesn't measure average wealth per household, only the differences, so the fact that the average person makes more isn't shown. Also, the gap didn't "give us the great depression", there were a TON of factors, not least of which was massive government internvention in the markets that made it last much longer than it should have, and thirdly, everyone is much more equal in income distribution in north korea, so I guess you think it's the "golden age" over there also.
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The point was talking about who controlled most of the nation's income. During the U.S. "golden age" the 90% controlled 65% of the wealth. As of 2007, 15,000 Americans controlled something like 780 billion. This is about who controls the wealth over the past century or so. |
It all boils down to minding your own business and not looking for excuses and blaming others. Worked in the past. Works now.
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"On August 15, 1971, President Nixon announced on TV dramatic changes in economic policy. He imposed a wage-price freeze. He ended the Bretton Woods international monetary system." |
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I don't understand why this is something we should even be discussing. At the end of the day, does it make a difference? Bill Gates and all of his money at the end of the day amounts to... Just money. He might have had a huge influence on modern culture, but it's not like he can make a phone call and get Julian Assange out the UK now can he?
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Using the extreme opposite that is North Korea to try and prove a point is weak at best. There are plenty of thriving countries with much smaller gaps. |
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Ditto re the 2008 meltdown. Moreover, the 1930's depression didn't really end until after the government started spending unprecedented amounts of money preparing for and eventually entering WWII. TRANSLATION: It took massive government spending to get us out of the last depression. |
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Does some company actually pay you to post here? Or pay you to do anything? At all? WHY? WTF? Quote:
The original poster [Barefootsies, right?] DID explicitly mention North Korea right before he stated how incredibly fucking stupid you are - so you may be on to something. You can "guess" all you want. I KNOW that you are a brain-dead, bat-shit useless, drooling piece of masturbating shit. I "guess" that you are living in a long-term care facility for the clinically stupid. Probably paid for by taxpayers... And "thirdly..." Fuck me. Still, I'd like to live someplace where "everyone is much more equal". As long as they didn't force-feed me Lithium. Or cock. Or turds. |
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.:1orglaugh . |
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YUP. :2 cents: |
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Secondly, by 1935 to 1938, that new deal legistlation was being pushed back and overturned by congress. In fact New Deal legislation was so harmful to employment and capital formation that it was effectively halted altogether by 1938, because there was no way to build up to a war if the government was so restrictive of private business growth.. .:2 cents: |
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They saw the writing on the wall and that the govt wasn't going to act so they acted. Granted, it was pure self preservation. In reality they did it to buy themselves time so they could sell off stocks and send money out of the country before the larger crash hit. It was just a stop gap to give the insiders time to save their own asses. The same thing the stimulus package was created for, to give the insiders enough time to save their asses and stop the public from tipping the balance. Depressions and market crashes are purely mental. The market decides the gig is up and the money train comes to a halt. Until the people feel safe enough to start that train rolling again all anyone can do is try and spend their way out. Tony Soprano said it best "Stocks!? You have to be involved in some insider trading shit for that to pay off!" |
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The government not only spent money that it had not actually created, but instead took it, by printing, borrowing and taxing, it also then decreases confidence in future growth by passing new laws to try to control business centrally. Using the stock market as a measure of the economy then also points to WWII not being the cause of the recovery, since it did not really come back until the war was over. .:2 cents: |
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The Depression of 1920?21 lasted 18 months and it took no gov intervention to end it. In fact the Depression of 1920-21 was a result of the massive gov intervention during WW1. Gov intervention in the form of credit expansion by the Fed caused the bubble that led to the 1929 crash. Massive gov intervention under Hoover and FDR turned the 'natural correction process' that a depression actually is into "the Great Depression". Things only got better AFTER WW2 when the gov intervention was greatly reduced. Yes, it's true that the gov spent a lot of money during WW2 and this did result in high nominal wages. But what good were those when you couldn't buy anything with them?! People built tanks and bullets and got paid in USD, but they couldn't buy milk, butter, meat, sugar,... because all those things were rationed. At the end of WW2, the Keynesians screamed the world would end if the gov intervention wasn't continued. It wouldn't be the last time they'd get it wrong. |
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