GG Posted August 13, 2014 Posted August 13, 2014 novel approach. deny basic, well documented truths that don't fit your belief system. seems a nearly unique characteristic of the far right. It's a myth because I haven't seen anyone differentiate income from wealth in these diatribes. Until you learn the difference, it will be a myth.
Trump_is_Mentally_fit Posted August 13, 2014 Author Posted August 13, 2014 It's a myth because I haven't seen anyone differentiate income from wealth in these diatribes. Until you learn the difference, it will be a myth. Ignorance is Strength!
meazza Posted August 13, 2014 Posted August 13, 2014 Ignorance is Strength! Then you must be Hercules.
birdog1960 Posted August 13, 2014 Posted August 13, 2014 (edited) It's a myth because I haven't seen anyone differentiate income from wealth in these diatribes. Until you learn the difference, it will be a myth. the difference in terms is irrelevant because there's massive inequality in both and one exacerbates the other. they are synergistic. they both are deleterious to the economy as a whole. Edited August 13, 2014 by birdog1960
/dev/null Posted August 16, 2014 Posted August 16, 2014 http://www.realclearpolitics.com/video/2014/08/14/andrew_klavan_what_is_income_redistribution.html
birdog1960 Posted October 17, 2014 Posted October 17, 2014 (edited) seems janet yellen finds income inequality (or is that wealth?....janet! gg has a burning question) a big problem. http://finance.yahoo...-123219309.html. sounds like it's time to raise interest rates. btw gg, she says it's both. Edited October 17, 2014 by birdog1960
TakeYouToTasker Posted October 17, 2014 Posted October 17, 2014 seems janet yellen finds income inequality (or is that wealth?....janet! gg has a burning question) a big problem. http://finance.yahoo...-123219309.html. sounds like it's time to raise interest rates. btw gg, she says it's both. What do you think will happen when interest rates rise?
birdog1960 Posted October 17, 2014 Posted October 17, 2014 What do you think will happen when interest rates rise? i think the stock market bubble will burst like a balloon stck by a dart.
TakeYouToTasker Posted October 17, 2014 Posted October 17, 2014 i think the stock market bubble will burst like a balloon stck by a dart. I don't disagree. What else?
3rdnlng Posted October 17, 2014 Posted October 17, 2014 I don't disagree. What else? We'll have the Joe Biden Trifecta of (1.) out of this world national debt payments, (2) a decimated military, (3) an ebola crisis and (4) open borders allowing any and all to flood our country. Nice job Obama. You accomplished what you set out for and have fundamentally changed this country.
birdog1960 Posted October 17, 2014 Posted October 17, 2014 I don't disagree. What else? you're the laissez faire freemarket, liberterian. how bout you tell me why artificially maintained low interest rates are justified in light of your political philosophy. i think you can reason why i'm not a fan in regards to this thread.
Doc Posted October 18, 2014 Posted October 18, 2014 you're the laissez faire freemarket, liberterian. how bout you tell me why artificially maintained low interest rates are justified in light of your political philosophy. i think you can reason why i'm not a fan in regards to this thread. Who has been maintaining them at low levels? And how long should they have been kept low? Long enough to say, win re-election and help with the mid-terms?
birdog1960 Posted October 18, 2014 Posted October 18, 2014 Who has been maintaining them at low levels? And how long should they have been kept low? Long enough to say, win re-election and help with the mid-terms? that would be the fed. perhaps you'd like to know a bit more about it http://en.wikipedia.org/wiki/Federal_Reserve_System
TakeYouToTasker Posted October 18, 2014 Posted October 18, 2014 you're the laissez faire freemarket, liberterian. how bout you tell me why artificially maintained low interest rates are justified in light of your political philosophy. i think you can reason why i'm not a fan in regards to this thread. I'm not a fan of artificially low interest rates backed by loose Fed policy, as the fallout of those policies inevitably lead to greater, and more protracted pain down the road. When interest rates rise, and the market corrects in response, it will wipe out the 401k savings of the middle class. It will make it nearly impossible to buy a home or secure a loan. Jobs will disappear. The list goes on and on. There's a reason that quantitative easing only leads to more quantitative easing.
birdog1960 Posted October 18, 2014 Posted October 18, 2014 I'm not a fan of artificially low interest rates backed by loose Fed policy, as the fallout of those policies inevitably lead to greater, and more protracted pain down the road. When interest rates rise, and the market corrects in response, it will wipe out the 401k savings of the middle class. It will make it nearly impossible to buy a home or secure a loan. Jobs will disappear. The list goes on and on. There's a reason that quantitative easing only leads to more quantitative easing. this is the biggest myth among the many you've stated here. the wealth disparity is most evident in the holding of securities. 60% of americans have lass than $2500 in stocks. i guess the significance is dependent on how you define middle class. many, many people (in fact most) do not have nearly enough in their 401k to retire comfortably and never will. the market correction will change this very little as has the forming of a bubble. they're screwed regardless. mortgages and jobs have been historically easier to get in many periods of higher interest rates.
TakeYouToTasker Posted October 18, 2014 Posted October 18, 2014 this is the biggest myth among the many you've stated here. the wealth disparity is most evident in the holding of securities. 60% of americans have lass than $2500 in stocks. i guess the significance is dependent on how you define middle class. many, many people (in fact most) do not have nearly enough in their 401k to retire comfortably and never will. the market correction will change this very little as has the forming of a bubble. they're screwed regardless. mortgages and jobs have been historically easier to get in many periods of higher interest rates. First of all who's talking about stocks? I'm talking about qualified work place plans, more than 99% of which are mutual fund only plans. These are the plans that the overwhelming majority of Americans who have any retirement savings hold as their only retirement savings. These Americans would be crushed, and reduced to expected poverty in their elder years, despite their planning and saving, reducing them to rely solely on a failing and overburdened social security system. There will then be no middle class. There will be only the wealthy, who are in a position to go unaffected; and the working poor who might be fortunate enough to actually be working. Those people, whose assets have been decimated, and may no longer be working will certainly have a nearly impossible time securing any sort of loan, and if they did, the interest rates they would pay would be what you would describe as predatory.
keepthefaith Posted October 18, 2014 Posted October 18, 2014 The Fed (given our enormous debt) will be committed very long term to very low interest rates IMO. A rise in rates will cause the expense to service the debt to skyrocket so I would expect rates to stay very low and for that lever to be one of the last that any future fed chairman/woman will push and if pushed it'll be a nudge. .
TakeYouToTasker Posted October 20, 2014 Posted October 20, 2014 the difference in terms is irrelevant because there's massive inequality in both and one exacerbates the other. they are synergistic. they both are deleterious to the economy as a whole. The difference in terms is incredibly relevant. How do you not see the relevance?
birdog1960 Posted October 20, 2014 Posted October 20, 2014 The difference in terms is incredibly relevant. How do you not see the relevance? yellen doesn't think so. she sees both (kinda like me). hmmm, whose opinion do i put greater value in?
TakeYouToTasker Posted October 20, 2014 Posted October 20, 2014 yellen doesn't think so. she sees both (kinda like me). hmmm, whose opinion do i put greater value in? Since I can't ask Yellen, I'll have to settle for you: What's the difference between wealth and income? How does taxing $250k incomes at a 40% (or higher) rate create wealth equality?
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