Drudge Retort: The Other Side of the News
Sunday, November 19, 2017

Income inequality inspires fierce debate around the world, and no shortage of proposed solutions. As global billionaires bid up the price of a da Vinci painting on Wednesday, to $450.3 million, Congress debated tax reforms that many analysts said would give the largest benefits to the richest 1 percent of taxpayers. In the United States, the richest 1 percent have seen their share of national income roughly double since 1980, to 20 percent in 2014 from 11 percent. This trend, combined with slow productivity growth, has resulted in stagnant living standards for most Americans. No other nation in the 35-member Organization for Economic Cooperation and Development is as unequal, and none have experienced such a sharp rise in inequality.

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So What's Going On?

Almost all of the growth in top American earners has come from just three economic sectors: professional services, finance and insurance, and health care, groups that tend to benefit from regulatory barriers that shelter them from competition.

The groups that have contributed the most people to the 1 percent since 1980 are: physicians; executives, managers, sales supervisors, and analysts working in the financial sectors; and professional and legal service industry executives, managers, lawyers, consultants and sales representatives.

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"Others are noticing these trends. A new book, "The Captured Economy" by Brink Lindsey and Steven Teles, argues that regressive regulations -- laws that benefit the rich -- are a primary cause of the extraordinary income gains among elite professionals and financial managers in the United States and of a reduction in growth.

This year, the Brookings Institution's Richard Reeves wrote a book about how people in the upper middle class have shaped both legal and cultural norms to their advantage. From different perspectives, Joseph Stiglitz, Robert Reich and Luigi Zingales have also written extensively about how the political power of elites has undermined markets.

Problems cited by these analysts include subsidies for the financial sector's risk-taking; overprotection of software and pharmaceutical patents; the escalation of land-use controls that drive up rents in desirable metropolitan areas; favoritism toward market incumbents via state occupational licensing regulations (for example, associations representing lawyers, doctors and dentists that block efforts allowing paraprofessionals to provide routine services at a lower price without their supervision).

These are just some of the causes contributing to the 1 percent's high and rising income share. Reforming relevant laws can make markets more efficient and egalitarian, and in contrast with trade, immigration and technology, the political causes of the 1 percent's rise are directly under the control of citizens."

#1 | Posted by Corky at 2017-11-17 10:35 PM | Reply

makes sense until the last sentence lobbyists are more often than not, directly in charge of writing legislation. Citizens have no say 99% of the time.

#2 | Posted by bayviking at 2017-11-18 05:59 AM | Reply | Newsworthy 1

Crony capitalism. Taxing the rich will not solve this.

Expand the right to work laws to include these trade/professional organizations.

#3 | Posted by sawdust at 2017-11-18 08:58 AM | Reply | Funny: 1

"Crony capitalism. Taxing the rich will not solve this."

Actually it would solve it, has solved it before. This isn't America's first rodeo. 1932 FDR increased taxes on the rich and slowly solved the problem of the Great Republican Depression of 1929. Created the greatest era of growth in world history. Don't try to deny the most obvious event in world history that justifies higher taxes on the rich.

#4 | Posted by danni at 2017-11-18 10:01 AM | Reply | Newsworthy 8

"Crony capitalism. Taxing the rich will not solve this."

Oookay.

Any thoughts on what will, or is there even anything to "solve?"

Perhaps you're one of those who doesn't think it's a concern that "Since 1975, practically all the gains in household income have gone to the top 20% of households."

#5 | Posted by snoofy at 2017-11-19 03:11 PM | Reply

5 | POSTED BY SNOOFY

While you continue to ignore the great immigration influx since the 70s.

You read the stats off like an IBM typewriter, but continue to ignore the cause.

#6 | Posted by AndreaMackris at 2017-11-19 03:20 PM | Reply | Funny: 1 | Newsworthy 1

Making Foreign Investors rich again:

This analysis also finds that foreign investors would receive a significant share of the benefits -- $22 billion in 2027. As explained in the methodology section, corporate tax cuts mostly benefit the owners of corporate stocks, and recent research finds that foreign investors own 35 percent of stocks in American corporations. The benefits flowing to foreign investors would be slightly larger than the $18 billion increase in taxes paid by the bottom three-fifths of income-earners in 2027.

In fact, by 2027 foreign investors would benefit more than American households overall under the bill as written. While some households would pay more and others would pay less, in 2027 the average net effect for U.S. households would be a tax cut of $8 billion, which is much smaller than the $22 billion benefit to foreign investors.

itep.org

#7 | Posted by Gal_Tuesday at 2017-11-19 04:59 PM | Reply | Newsworthy 3

What's Making the 1% So Much Richer in U.S.

Simple - private election funding creates a government which only serves donors. Policies are created which benefit only the rich.

If you want to fix ANYTHING, you have to fix election funding first.

Bernie knew this. Hillary called him unrealistic as she took donations from the same fatcats that are ruining the country and the world.

#8 | Posted by SpeakSoftly at 2017-11-19 06:27 PM | Reply | Newsworthy 9

"You read the stats off like an IBM typewriter, but continue to ignore the cause."

Go ahead and explain how immigration causes it then.

I worked alongside plenty of H1-B visa holders in IT jobs. The only way I can see not filling those jobs with highly qualified immigrants would reduce wealth for the 1% is because hiring underqualified Americans makes the business less profitable overall.

#9 | Posted by snoofy at 2017-11-19 06:41 PM | Reply | Funny: 2

#9 | Posted by snoofy

I have too. They usually bring in underqualified foreigners that are simply cheaper than Americans.

#10 | Posted by GalaxiePete at 2017-11-19 06:49 PM | Reply | Newsworthy 2

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Ask obama as during his eight years of his administration their assets grew dramatically in value.

#11 | Posted by MSgt at 2017-11-19 06:50 PM | Reply | Funny: 3

Blame Obama.

It's getting old.

#12 | Posted by rstybeach11 at 2017-11-19 07:15 PM | Reply | Newsworthy 2

Increasing taxes, several stimulus packages and dramatically increasing economic regulations has resulted in a "lost generation" of economic growth in Japan. I suggest we don't try to replicate Japan's "success".

#13 | Posted by JeffJ at 2017-11-20 11:37 AM | Reply | Funny: 1

Crony capitalism is not real capitalism. We have allowed corporate control of our government to crush small businesses and stifle innovation. Crony capitalism only benefits the dirtbags in charge and that is our problem. Whether it can be fixed is debatable bc most Americans have been conditioned to rubber stamp the election of candidates from corporate owned parties.

#14 | Posted by Sully at 2017-11-20 12:00 PM | Reply | Newsworthy 2

#13 Japan's immigration control policies may be the main cause of the lost generation in Japan, why would that work in the US?

#15 | Posted by bored at 2017-11-20 12:35 PM | Reply

Increasing taxes, several stimulus packages and dramatically increasing economic regulations has resulted in a "lost generation" of economic growth in Japan. I suggest we don't try to replicate Japan's "success".

#13 | Posted by JeffJ

Economic DEregulation collapsed the entire economy in 2007. Remember?

Japan isn't growing partly because they aren't having kids. They aren't having kids because they are working too hard.

That's the part we're currently replicating.

#16 | Posted by SpeakSoftly at 2017-11-20 01:19 PM | Reply

Simply put, the rich have investments which have gone up in value as the stock market rises, thereby increasing their self worth. We are not rich by any stretch of imagination, but my investments and my wife's 401k have also tremendously increase in value due to the bull market :)

#17 | Posted by MSgt at 2017-11-20 01:19 PM | Reply | Funny: 1 | Newsworthy 1

"Crony capitalism is not real capitalism."

In other news, I've been working on my novel lately, it's a Young Adult werewolf themed romance, but that's not important.
The important part is I heard down at the coffee shop that the USSR was not real Communism.
Oddly enough, the guy in a beret and suspenders who mimed this to me (it's truly an expressive art form) had a nametag that said "Sully."
Probably just a coincidence that our Sully told me the exact same thing, but from the other side of the looking glass.

#18 | Posted by snoofy at 2017-11-20 01:25 PM | Reply

SUNDAY, NOVEMBER 19, 2017
What's Making the 1% So Much Richer in U.S.?

The willful participation of useful idiots like Boaz.

#19 | Posted by IndianaJones at 2017-11-20 01:27 PM | Reply

"We are not rich by any stretch of imagination, but my investments and my wife's 401k have also tremendously increase in value due to the bull market :)"

^
Nice work if you can get it!

(Notice how it's not work though. That's kind of why I said that. Working is not a way to get rich any more. That's the problem. Or, maybe it's never been a way to get rich, and this whole American Dream thing is just capitalist propaganda. That could be a problem too.)

#20 | Posted by snoofy at 2017-11-20 01:27 PM | Reply

Increasing taxes, several stimulus packages and dramatically increasing economic regulations has resulted in a "lost generation" of economic growth in Japan. I suggest we don't try to replicate Japan's "success".
#13 | POSTED BY JEFFJ

Yeah it was totally the stimulus package that slowed down Japan's economy and not, idk, a tsunami.

#21 | Posted by IndianaJones at 2017-11-20 01:28 PM | Reply

"Increasing taxes, several stimulus packages and dramatically increasing economic regulations has resulted in a "lost generation" of economic growth in Japan."

Meanwhile, speaking of "lost generation," "Since 1975, practically all the gains in household income have gone to the top 20% of households."

Growth is missing from the bottom tier for 40 years now. Unless you have rich parents you're part of our lost generation. I'm guessing you do, so that's why you can't see it.

#22 | Posted by snoofy at 2017-11-20 01:30 PM | Reply

Simply put, the rich have investments which have gone up in value as the stock market rises, thereby increasing their self worth. We are not rich by any stretch of imagination, but my investments and my wife's 401k have also tremendously increase in value due to the bull market :)

#17 | Posted by MSgt

Glad you're benefiting from the bull market created by replacing american workers with computers and foreign slave labor.

As long as YOURE benefitting, that's really what's important.

#23 | Posted by SpeakSoftly at 2017-11-20 01:32 PM | Reply

Oh well. I was really hoping Mackris would opine how immigration explains what's happened "Since 1975." I guess I'll never really get an explanation.

#24 | Posted by snoofy at 2017-11-20 01:32 PM | Reply

Yeah it was totally the stimulus package that slowed down Japan's economy and not, idk, a tsunami.

#21 | POSTED BY INDIANAJONES AT 2017-11-20 01:28 PM

Really, you believe a tsunami in 2011 has caused Japan's economic stagnation since the 1990's?

SMFH

#25 | Posted by Rightocenter at 2017-11-20 01:38 PM | Reply

#23 | POSTED BY SPEAKSOFTLY AT 2017-11-20 01:32 PM | FLAG: I can only assume from the tone of your comment that you have no pension plan or 401k or other investments; sorry for you.

#26 | Posted by MSgt at 2017-11-20 02:04 PM | Reply

"I can only assume from the tone of your comment that you have no pension plan or 401k or other investments; sorry for you."

Indeed.

Yes, the ridding tide may have swamped most people's small boats, but if you have a little extra money saved up, which most people don't, you can buy a life preserver off one of the mega-yachts!

You are quite the optimist.

#27 | Posted by snoofy at 2017-11-20 02:11 PM | Reply | Newsworthy 1

#23 | POSTED BY SPEAKSOFTLY AT 2017-11-20 01:32 PM | FLAG: I can only assume from the tone of your comment that you have no pension plan or 401k or other investments; sorry for you.

#26 | Posted by MSgt

I have plenty of investments because i'm not an idiot. But I'm not going to gloat about profiting off wall street's sociopathic behavior. I recognize that wall street benefits from making the working class suffer more and I vote in the interest of the working class, not wall street or my own investments.

#28 | Posted by SpeakSoftly at 2017-11-20 02:14 PM | Reply

No dude you have to talk about how awesome your table scraps are. It's proof how our system works, that a few of use are eligible for table scraps.

Have you ever gotten a job from a poor person? No. Enjoy your table scraps.

#29 | Posted by snoofy at 2017-11-20 02:16 PM | Reply

#25 | POSTED BY RIGHTOCENTER

I assumed you were referring to the post tsunami dip. I didn't think anyone was dumb enough to think Japan's economy has sucked since the 90s. They're the third largest economy.

#30 | Posted by IndianaJones at 2017-11-20 02:39 PM | Reply

#28 | POSTED BY SPEAKSOFTLY AT 2017-11-20 02:14 PM | FLAG: I do not gloat, just state fact that I am proud of. I've never had anything handed to me in life, worked hard and earned what I have and do the best I can to increase net worth as my wife is 10 years younger than me, assume I'll probably die before her, and want to ensure she is fiscally comfortable in her old age. As for you hating Wall Street, there are 'socially conscious' funds you can invest in.

Took a lot to get where I am at. Married in early 20s and as a young buck sergeant at stationed McGuire AFB, NJ, I worked two part-time jobs on the side [70* hours for over two years straight!] to pay for her nursing degree so that we would have no loan debt. Not being able to take leave due to that I was able to sell back two months accumulated leave when I reenlisted, which was the beginnings of savings. Of course also did the big jar of change rolled and deposited once a year. It was years later that I learned about the stock market and what it to do for one. Almost every car I've owned was kept for 9 to 11 years, only replacing when not worth sinking more money into them.

Also made many dumb mistakes such as not finishing my degree until after retiring - had I finished in by late 20s to early 30s [which I could have] I could have gone commissioned and had a much higher officer's retirement pay. Another fiscal mistake was turning down E-8 which I had been selected for but since I was 40 decided instead to retire to do something different - dumb move as I gave up a higher retirement pay had I accepted the promotion.

Smart moves? We decided not to have children right away and I was 30 when he was born [more fiscally settled with only debt being a car payment]. Also, always being a two income family, then and with my current spouse,.was also good.

I have known and do know those who are dirt poor and I have known and know a few millionaires. I have regrets in life, but not many as even the bad decisions were my decisions which I can life with. Also, have never felt envy for those who have been more successful in life and can never understand those who are envious.

#31 | Posted by MSgt at 2017-11-20 03:21 PM | Reply | Funny: 1

. We are not rich by any stretch of imagination, but my investments and my wife's 401k have also tremendously increase in value due to the bull market :)

#17 | POSTED BY MSGT AT 2017-11-20 01:19 PM

401(k)s are just there to let you think you own stocks when in reality they are another mechanism to push money to the top.

The total amount of stocked owned by all 401(k)s combined is less than 4% of the total stock ownership. Legacy pension plans still hold more than twice as much as 401(k)s
The top 10% wealthiest Americans control over 80% of the domestically owned stocks.

The main purpose of 401(k)s is not to create retirement accounts for the general population. The main purpose was to get money held long term in defined benefit plans into the churn so active investors could siphon the wealth.

To profit from the stock market you have to buy low and sell high. The problem is that when the price is low nobody wants to sell and when the price is high nobody wants to buy. 401(k)s solved that problem. They have funds depositing weekly being used to buy stocks no matter how high the market goes. In addition unlike pensions, people facing hardship can withdraw funds from a 401(k). There is enough of this to provide a steady stream of people selling even when prices are low. The net effect is to siphon a steady stream of funds from passive 401(k) investors to active players at the top of the market.

#32 | Posted by hatter5183 at 2017-11-20 03:34 PM | Reply | Newsworthy 3

Expand the right to work laws to include these trade/professional organizations.
#3 | POSTED BY SAWDUST

Because taking away workers' power and giving it to business owners accomplishes what precisely?

#33 | Posted by Sycophant at 2017-11-20 03:45 PM | Reply

Expand the right to work laws to include these trade/professional organizations.
#3 | POSTED BY SAWDUST
Because taking away workers' power and giving it to business owners accomplishes what precisely?

#33 | POSTED BY SYCOPHANT AT 2017-11-20 03:45 PM

It makes all jobs other than CEO minimum wage. That saves money for the owners who can't understand the simple rule that if everyone is getting paid minimum wage they wont have any customers

#34 | Posted by hatter5183 at 2017-11-20 03:58 PM | Reply

"Also, have never felt envy for those who have been more successful in life and can never understand those who are envious."

And yet your investments make money because "greed is good."

You're not envious. You just want to have as much money as you can. And you know the best way to get it is by letting the greedy people manage your money so it makes more money than you could ever hope to make with it.


You use your money to launder your own greed.

#35 | Posted by snoofy at 2017-11-20 04:06 PM | Reply | Newsworthy 1

I assumed you were referring to the post tsunami dip. I didn't think anyone was dumb enough to think Japan's economy has sucked since the 90s. They're the third largest economy.

#30 | POSTED BY INDIANAJONES

Japan's economy has been mostly stagnant since the '90's. Now, most other countries would gladly have their economy because even though it's growing at a snail's pace, it's still much better than most other countries.

I wasn't bagging on Japan. I was bagging on the policies that contributed - I'd argue to a considerable extent - to their economic stagnation.

#36 | Posted by JeffJ at 2017-11-20 04:20 PM | Reply

#35 SNOOFY: No one manages my money as I do my own research and chose which stocks, MLPs, etc that I want. I do though, find your comments thoroughly amusing so keep up the 'good' work! However, if you consider it being greedy to want to ensure one's spouse is taken care of after gone, then I will gladly 'wear' that title.

#34 HATTER: My spouse's 401k serves two purposes [a] free money from the employer match that coworkers who chose not to fund one lose out on and [b] price appreciation over time of assets due to reinvestment of capital gains and dividends as well as advantage of dollar cost averaging from her weekly paycheck. I mange it for her by selecting which of the funds to have in to [there is quite a large choice offered]. The overall value has risen quite nicely over the years and should has even done decently in downturns like '08 due to more conservative investment with a farther out 'window'.

#37 | Posted by MSgt at 2017-11-20 04:25 PM | Reply

"I wasn't bagging on Japan. I was bagging on the policies that contributed - I'd argue to a considerable extent - to their economic stagnation."

And you'd be wrong. They experienced a huge bubble in stocks and real estate which collapsed. Had nothing to do with taxes but I'll bet more regulations would have helped prevent Fukishima.

#38 | Posted by danni at 2017-11-20 04:27 PM | Reply | Funny: 1

A huge bubble would explain an economic crash. A huge bubble bursting does not explain decades of stagnant growth.

#39 | Posted by JeffJ at 2017-11-20 04:28 PM | Reply | Newsworthy 1

I didn't think anyone was dumb enough to think Japan's economy has sucked since the 90s. They're the third largest economy.

#30 | POSTED BY INDIANAJONES AT 2017-11-20 02:39 PM

Nice try at a recovery, no one said it "sucked", Jeff was commenting on the well documented reasons for the "lost generation" of economic growth in Japan, you got called out on your BS about Fukushima and are now flailing to explain the comment away.

#40 | Posted by Rightocenter at 2017-11-20 04:35 PM | Reply

What's Making the 1% So Much Richer in U.S.

Easy question. The rich suckered the middle class into thinking they can gain at the expense of others. That would include almost everybody on this site.

#41 | Posted by Ray at 2017-11-20 04:43 PM | Reply

"However, if you consider it being greedy to want to ensure one's spouse is taken care of after gone, then I will gladly 'wear' that title."

Greed is good, MSgt.

You're not putting your money towards anything other than making more money. That's practically the definition of greed.

That's the whole point of a 401(K) and investing in general. You and I don't have the power to move markets, all we can do is buy a ticket to ride. And sell it later to the next young MSgt, hopefully at a tidy profit.

#42 | Posted by snoofy at 2017-11-20 04:44 PM | Reply

Japan's economy has been mostly stagnant since the '90's. Now, most other countries would gladly have their economy because even though it's growing at a snail's pace, it's still much better than most other countries.
I wasn't bagging on Japan. I was bagging on the policies that contributed - I'd argue to a considerable extent - to their economic stagnation.

#36 | POSTED BY JEFFJ AT 2017-11-20 04:20 PM

The thing is that stagnation is not a measure of a weak economy. The closer a country is to its maximum GDP (assuming no change in technology) the less it grows yoy.

#43 | Posted by IndianaJones at 2017-11-20 04:47 PM | Reply

The closer a country is to its maximum GDP (assuming no change in technology) the less it grows yoy.

I get that. However, Japan's growth since the '90's has been considerably less than US growth. I would't make the case that Japan was and is closer to maximum GDP than the US

#44 | Posted by JeffJ at 2017-11-20 04:50 PM | Reply

BTW Jeff

Look up "Plant Paradox" on Amazon. I think you'll find the book useful.

#45 | Posted by Ray at 2017-11-20 04:58 PM | Reply

Will do, Ray.

I enjoyed the last reading recommendation I took you up on ("Dependent on DC").

#46 | Posted by JeffJ at 2017-11-20 05:01 PM | Reply

#42 | POSTED BY SNOOFY AT 2017-11-20 04:44 PM | FLAG: Since that is your attitude I would suggest you set your money in the bank and ;get'a few CDs and good luck with that. Or, maybe you could invest in a baseball collection where again one hope to sell to another for a tidy profit - good luck with that. Oh, you could buy bitcoins as we know how dependable that is too :)

#47 | Posted by MSgt at 2017-11-20 05:10 PM | Reply

#34 HATTER: My spouse's 401k serves two purposes [a] free money from the employer match that coworkers who chose not to fund one lose out on and [b] price appreciation over time of assets due to reinvestment of capital gains and dividends as well as advantage of dollar cost averaging from her weekly paycheck. I mange it for her by selecting which of the funds to have in to [there is quite a large choice offered]. The overall value has risen quite nicely over the years and should has even done decently in downturns like '08 due to more conservative investment with a farther out 'window'.

#37 | POSTED BY MSGT AT 2017-11-20 04:25 PM | REPLY

They have you suckered into funding their double digit gains by allowing some people to average 8% They have suckered you into believing that letting you spend your own money to buy a retirement package is a benefit they are giving you. They conned you into believing that taking home salary MINUS your 401(k) is better than getting full salary now and pension later

Ask the people who retired 2 weeks before the "downturn" how they did in the "downturn"

If you get lucky and stay healthy until you retire and get lucky again by not having a market "downturn" after you retire you can do ok. Reality however is that many people can't afford to fund their 401(k) unless they go without meds or rent or something else.

You have a job that pays enough to live OK AND fund your 401K. good for you but that doesn't mean people who don't are lazy or stupid. They are just underpaid

#48 | Posted by hatter5183 at 2017-11-20 05:26 PM | Reply

I have known and do know those who are dirt poor and I have known and know a few millionaires. I have regrets in life, but not many as even the bad decisions were my decisions which I can life with. Also, have never felt envy for those who have been more successful in life and can never understand those who are envious.

#31 | Posted by MSgt

Don't mistake anger over injustice for envy.

I'm not JEALOUS that billionaires have bribed half of congress to do their bidding, I'm angry that ANYONE is allowed to do that.

Get rich all you want. If you do it ethically, good for you. But if you then use your fortune to corrupt the government to your personal benefit, then you deserve all the criticism that comes your way.

And you did not succeed on your own. You succeeded with the support of the people who came before you. Today's generation of rich ------ thinks they succeeded all on their own and therefore they are refusing to support the society which enabled their success.

#49 | Posted by SpeakSoftly at 2017-11-20 05:43 PM | Reply | Newsworthy 1

I'm not JEALOUS that billionaires have bribed half of congress to do their bidding, I'm angry that ANYONE is allowed to do that.

Half? The whole DC establishment is bought. What do you have to offer? One measily vote.
You've been getting scammed.

#50 | Posted by Ray at 2017-11-20 05:55 PM | Reply

You've been getting scammed.

#50 | Posted by Ray

No you have. By the billionaires who tell you there's no point in voting because the parties are the same.

#51 | Posted by SpeakSoftly at 2017-11-20 05:59 PM | Reply

#51 | POSTED BY SPEAKSOFTLY

Two parties. So what? It's still the same government of the rich, by the rich and for the rich.
To these people, you're livestock.

#52 | Posted by Ray at 2017-11-20 06:06 PM | Reply

Two parties. So what? It's still the same government of the rich, by the rich and for the rich.
To these people, you're livestock.

#52 | Posted by Ray

Wrong as always stupid. This current party is going to raise taxes on the working class and cut them for the rich.

If idiots like you had voted instead of pouted, this wouldn't be happening.

#53 | Posted by SpeakSoftly at 2017-11-20 06:08 PM | Reply

This current party is going to raise taxes on the working class and cut them for the rich.

Like Clinton did.

You're in denial. The two parties only differ on how to scam the public.

Wrong as always stupid.

I would be stupid to continue to argue with you.

#54 | Posted by Ray at 2017-11-20 06:15 PM | Reply

I would be stupid to continue to argue with you.

#54 | Posted by Ray

Because you cant.

Are you saying clinton would have allowed hunters to bring elephant carcasses into the country again like trump did?

Are you saying clinton would have worked to fight clean energy and promote coal like trump is?

You're an idiot. And a baby.

#55 | Posted by SpeakSoftly at 2017-11-20 06:56 PM | Reply | Newsworthy 1

1. Lol I've been telling you all about QE 1,2, and 3 but you've refused to listen. So now your complaining about recovery and its results in the US economy???

2. Look at the top 10 US corporations, what do you see? Whether we like it or not the Facebooks, Googles, apple, Amazons of the world are doing much more with much less. The US is eating the world's lunch, basically.

Barron's compared Cat with Twitter. Both were 30 billion in market cap at the time. Twitter had only 5% of the workforce. Or consider FB and IBM. Fb is 4 times the market cap of, also has only 5% of the employees. At least all these techs are predominantly US corporations!!

#56 | Posted by DavetheWave at 2017-11-20 09:59 PM | Reply

"#42 | POSTED BY SNOOFY AT 2017-11-20 04:44 PM | FLAG: Since that is your attitude I would suggest you set your money in the bank and ;get'a few CDs and good luck with that"

My attitude?

It's a fact that when you invest, you're buying a chance to get more money than you paid. That's why you invest.

Not to make the world a better place. Just to make money.

CDs are likewise a sensible investment under many circumstances, and I might be even greedier than you were I to buy some; perhaps so greedy with my meager savings that I wouldn't want to risk losing any in the volatility of the market.

#57 | Posted by snoofy at 2017-11-21 12:38 AM | Reply

"The US is eating the world's lunch, basically."

Eating most of America's lunch too.

#58 | Posted by snoofy at 2017-11-21 12:39 AM | Reply

58 LOL what did you think would happen after OBAMA pumped 4.5 TRILLION dollars into this fact banksters' pockets????

#59 | Posted by DavetheWave at 2017-11-21 07:54 AM | Reply

......Fat Cat Banksters pockets.....

#60 | Posted by DavetheWave at 2017-11-21 07:54 AM | Reply

58 LOL what did you think would happen after OBAMA pumped 4.5 TRILLION dollars into this fact banksters' pockets????

#59 | POSTED BY DAVETHEWAVE

The economy would start moving again and we'd move towards job growth.

...which happened.

#61 | Posted by Sycophant at 2017-11-21 11:07 AM | Reply

And the unintended consequences of the pump would be???

Your have cemented too big to fail, you've destroyed (again) fha, and you've made the 1% richer. 3 cheers OWS!!!!

#62 | Posted by DavetheWave at 2017-11-21 12:26 PM | Reply

"And the unintended consequences of the pump would be?"

It made the 1% even richer?
No, wait, that's an intended consequence too.
I dunno, what is it?

For someone who is laughing all the way to the bank you sure seem angry about the good fortune bestowed upon you by our economic policies of rewarding the rich and punishing the poor.

What's up with that? Or is anger how you express happiness? You are happy about all that wealth flowing upwards, right?

#63 | Posted by snoofy at 2017-11-21 12:44 PM | Reply

This site was a prime supporter of OWS. Obama pretended to represent the 99% while secretly cohorting with the 1%. You all took the bait hook line and sinker.

Now you outraged at the results of QE. It's yours you own it.

#64 | Posted by DavetheWave at 2017-11-22 09:08 AM | Reply

"It's yours you own it."

And who owns resetting the fiscal sights of America from surpluses to deficits?

#65 | Posted by Danforth at 2017-11-22 09:30 AM | Reply

Comments are closed for this entry.

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