Figured I'd kick the bee hive. Video is about a year old. But, in my opinion, and many others, it is accurate.
Eat the rich.
1) Win the next game.
2) See goal #1
"The problem with internet quotes lies in verifying their authenticity."
Probably around the same time last year.
http://www.huffingtonpost.com/2012/0...n_1419008.htmlIncome Inequality Worse Under Obama Than George W. Bush
The biggest reason administrations and FED policy of trickle down quanitative easing and the rich haven't seen gains since fast gains since the late 90's globilisation and internet boom.
In an interview on "Squawk Box," the founder of hedge fund Duquesne Capital said that the Federal Reserve's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer will be paid by future generations.
"This is fantastic for every rich person," he said Thursday, a day after the Fed's stunning decision to delay tightening its monetary policy. "This is the biggest redistribution of wealth from the middle class and the poor to the rich ever."A stream of new data on inequality also suggest that the gap between the wealthy and the non-wealthy is growing, due largely to rising stock markets. New data from Emmanuel Saez, an economist at the University of California Berkeley, found that the top 1 percent captured 95 percent of the gains during the recovery.Economist Anthony Randazzo of the Reason Foundation wrote last year that QE "is fundamentally a regressive redistribution program that has been boosting wealth for those already engaged in the financial sector or those who already own homes, but passing little along to the rest of the economy. It is a primary driver of income inequality."
And then there's Donald Trump—not usually one for distributional analyses of monetary policy. He said on CNBC last year that "People like me will benefit from this."
But to not be completely provincial, not something only done in the USA...
Last month, the Bank of England issued a report that must have made Fed chairman Ben Bernanke squirm.
It said that the Bank of England’s policies of quantitative easing – similar to the Fed’s – had benefited mainly the wealthy.
Specifically, it said that its QE program had boosted the value of stocks and bonds by 26 percent, or about $970 billion. It said that about 40 percent of those gains went to the richest 5 percent of British households.The reason is simple. QE drives up the prices of assets, especially financial assets. And most of the financial assets in America are owed by the wealthiest 5 percent of Americans.
According to Fed data, the top 5 percent own 60 percent of the nation’s individually held financial assets. They own 82 percent of the individually held stocks and more than 90 percent of the individually held bonds.
By helping to reinflate the stock market in 2009 and 2010, the Fed created a two-speed recovery. The wealthy quickly recovered much of their wealth as stocks doubled in value. But the rest of the country, which depends on houses and jobs for their wealth, remained stuck in recession.
Last edited by Eshlemon; 10-28-2013 at 05:31 AM.
Not you guys.
Why do you guys think I'm on the global financial melt down bandwagon. I want the greed to become so big and out of control that it topples the whole system, because it will eventually.
Financial revolution will be the next great chapter in American History, I just want to be alive to see it.
"We made too many wrong mistakes." ~ Yogi Berra
A very interesting and alarming video. It illustrates a carefully crafted message. That social justice and income redistribution is a good thing. I disagree. We are heading to a greater divide.
The flood of uneducated illegals has expanded the poor class and the loss of manufacturing jobs has hurt the middle class. Everyone cannot be a CEO.
On a side note, with all the money, additional programs, and focus being put on education, why has this trend gotten worse over the last 40 years?
I would like to see the wealth demographic include race. That would be interesting.
my idea for wealth redistribution is take the 400 billionaires in the usa, have them each pony up $1,000,000.00 cash. that gets us 400 million dollars.
distribute 1 million dollars to every man, woman and child in the usa. have every man, woman and child pay 10% federal taxes and let the economy roll.
change the tax laws to a fairtax, where everyone pays taxes on things they buy (not income) . everyone will have to get a bank account, because nobody can just carry around 900K dollars. everyone will be able to afford housing, food, cars, TV's, computers, jewelry, trips, etc. no more welfare, food stamps, entitlement programs, saving the government lots of money.
simple solutions for simple minds.