Kingfish Posted February 7, 2009 Share Posted February 7, 2009 Less than 3 weeks into the Obama Administration and the conservatives are already bemoaning the "death of the nation". Amazing! At this rate we'll be having impeachment threads by March! Link to comment Share on other sites More sharing options...
StupidNation Posted February 7, 2009 Share Posted February 7, 2009 Less than 3 weeks into the Obama Administration and the conservatives are already bemoaning the "death of the nation". Amazing! At this rate we'll be having impeachment threads by March! If only they could all be impeached, all of them, with very few exceptions. I have another idea, why not review if they have taken their oath about upholding the Constitution. That would eliminate 99.5% of them. Link to comment Share on other sites More sharing options...
drnykterstein Posted February 8, 2009 Share Posted February 8, 2009 "You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. "You cannot multiply wealth by dividing it." The late Dr. Adrian Rogers, 1931 - 2005 I'm curious, what are you alluding to? I really have no idea. I mean my guess is the stimulus? But with that, a lot of money is going to the wealthy also. So I'm confused what you are trying to point out. Link to comment Share on other sites More sharing options...
John Adams Posted February 8, 2009 Share Posted February 8, 2009 Less than 3 weeks into the Obama Administration and the conservatives are already bemoaning the "death of the nation". Amazing! At this rate we'll be having impeachment threads by March! In fairness, Republicans have been singing the "We're doomed" song since women started showing their ankles and looking men in the eye. It's a tried and true way to hype up their concerns. Link to comment Share on other sites More sharing options...
KD in CA Posted February 8, 2009 Share Posted February 8, 2009 Hoarding wealth is what got us into this mess. The wealthy people in this country starting ripping off the less wealthy. Hoarding the wealth?? Would you care to explain how that works? I'm really curious, where exactly do you think the money goes that rich people put into those hedge funds? Link to comment Share on other sites More sharing options...
UConn James Posted February 8, 2009 Share Posted February 8, 2009 Hoarding the wealth?? Would you care to explain how that works? I'm really curious, where exactly do you think the money goes that rich people put into those hedge funds? Righ' ch'ere. Link to comment Share on other sites More sharing options...
UBinVA Posted February 9, 2009 Author Share Posted February 9, 2009 I'm curious, what are you alluding to? I really have no idea. I mean my guess is the stimulus? But with that, a lot of money is going to the wealthy also. So I'm confused what you are trying to point out. It's quite simple and pretty closely follows the 80/20 rule. Top 25% of the wage earners pays 86% of the Fed tax bill. 50% pay 97%. That means that close to 50% of the population do not pay income tax but get all the benefits from the rest of the 50%. We are close to the tipping point where this can not be sustained without a decrease in benefits. When the incentive to earn high wages is offset by a diminished return on hard work and investment, we will see the failue of the whole system. The tax base can not be sustained even with the cost remaining the same which they won't. Check out the tax tables your self. http://www.ntu.org/main/page.php?PageID=6 Link to comment Share on other sites More sharing options...
YellowLinesandArmadillos Posted February 9, 2009 Share Posted February 9, 2009 "You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. "You cannot multiply wealth by dividing it." The late Dr. Adrian Rogers, 1931 - 2005 But the wealthy and the powerful can take away freedom just as fast if not faster than the government and there is less recourse. I prefer the struggle, back and forth.... checks and balances if you will... Example, Wall Street Crooks over leveraging wealth so it is "disappearing like a fart in the wind." But you go on crying too about the government because it is your right, just as it is the right of every working man to cry about corporate scoundrels. Pot Meet Kettle! Link to comment Share on other sites More sharing options...
RLflutie7 Posted February 10, 2009 Share Posted February 10, 2009 Hoarding the wealth?? Would you care to explain how that works? I'm really curious, where exactly do you think the money goes that rich people put into those hedge funds? I think the wealth is going into 10,000 square foot homes - something that we've never really seen before - while those same sort of people buying those 10,000 square foot homes are screaming that their businesses are struggling to survive. Link to comment Share on other sites More sharing options...
jjamie12 Posted February 10, 2009 Share Posted February 10, 2009 I think the wealth is going into 10,000 square foot homes - something that we've never really seen before - while those same sort of people buying those 10,000 square foot homes are screaming that their businesses are struggling to survive. You see, KD... People are hoarding their wealth by buying assets that are worth half their value 5 years later... don't you get it? Don't you see all the wealth hoarding going on around you? Those rich millionaires with their worthless Citi stock. It's all part of their diabolical plan to lose millions (billions in the case of Dick Fuld and Jimmy Cayne), so that...they... can... 'hoard' their wealth in assets that lose their value? Link to comment Share on other sites More sharing options...
RLflutie7 Posted February 10, 2009 Share Posted February 10, 2009 You see, KD... People are hoarding their wealth by buying assets that are worth half their value 5 years later... don't you get it? Don't you see all the wealth hoarding going on around you? Those rich millionaires with their worthless Citi stock. It's all part of their diabolical plan to lose millions (billions in the case of Dick Fuld and Jimmy Cayne), so that...they... can... 'hoard' their wealth in assets that lose their value? It was a plan. Not a written plan, but it was a plan. The only problem is the plan failed. Because the people who wanted a two-class society (rich and poor) didn't realize that the plan would blow up in their face also. Link to comment Share on other sites More sharing options...
VABills Posted February 10, 2009 Share Posted February 10, 2009 It was a plan. Not a written plan, but it was a plan. The only problem is the plan failed. Because the people who wanted a two-class society (rich and poor) didn't realize that the plan would blow up in their face also. So let's create plan like cuba has, where everyone is poor. A one class system to be proud of. You get no benefit from working hard, so why bother. Drunk and stupid what a way of life. Link to comment Share on other sites More sharing options...
DC Tom Posted February 10, 2009 Share Posted February 10, 2009 Hoarding the wealth?? Would you care to explain how that works? I'm really curious, where exactly do you think the money goes that rich people put into those hedge funds? It ain't just the rich. I just heard a guy on the radio complaining that the middle class is hoarding wealth rather than spending it like they should. That may be THE stupidest thing I've ever heard. Savings rates are up for the first time I can remember in my lifetime...and it's bad, because people are "hoarding". We are truly !@#$ed as a country. Link to comment Share on other sites More sharing options...
DC Tom Posted February 10, 2009 Share Posted February 10, 2009 It was a plan. Not a written plan, but it was a plan. The only problem is the plan failed. Because the people who wanted a two-class society (rich and poor) didn't realize that the plan would blow up in their face also. Yes, those rich people "hoarding" their wealth lent it to the "poor" class to buy houses outside their means to keep them poor but make them THINK they're rich, so that ultimately those damn wealth-hoarding Illuminati bastards could lose all the wealth they didn't hoard and thus become even richer. You're just ALL kinds of stupid, aren't you? Link to comment Share on other sites More sharing options...
YellowLinesandArmadillos Posted February 10, 2009 Share Posted February 10, 2009 Yes, those rich people "hoarding" their wealth lent it to the "poor" class to buy houses outside their means to keep them poor but make them THINK they're rich, so that ultimately those damn wealth-hoarding Illuminati bastards could lose all the wealth they didn't hoard and thus become even richer. You're just ALL kinds of stupid, aren't you? No, just stating really what happened... Can't say it was intentional though, more like leading a horse to water and then thirst took over. Link to comment Share on other sites More sharing options...
RLflutie7 Posted February 11, 2009 Share Posted February 11, 2009 Yes, those rich people "hoarding" their wealth lent it to the "poor" class to buy houses outside their means to keep them poor but make them THINK they're rich, so that ultimately those damn wealth-hoarding Illuminati bastards could lose all the wealth they didn't hoard and thus become even richer. You're just ALL kinds of stupid, aren't you? You hit the nail on the head. I can't figure it out either. Decisions made (low wages) and bad loans (to lose money) I can't figure it either. But that's what happened. I'm perplexed. Why would I (if I'm rich) lend that kind of money to someone who is broke? I need to you explain it to me! Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted February 11, 2009 Share Posted February 11, 2009 You hit the nail on the head. I can't figure it out either. Decisions made (low wages) and bad loans (to lose money) I can't figure it either. But that's what happened. I'm perplexed. Why would I (if I'm rich) lend that kind of money to someone who is broke? I need to you explain it to me! You know people are going to blame the gov't for "changing the rules"... And that they did. There has been major pushes for deregulation and laxing up on the lending criteria. And of course many used that to their advantage. The one's that got out before the "day of reckoning" were truly the shrewdest. Link to comment Share on other sites More sharing options...
DC Tom Posted February 11, 2009 Share Posted February 11, 2009 You hit the nail on the head. I can't figure it out either. Decisions made (low wages) and bad loans (to lose money) I can't figure it either. But that's what happened. I'm perplexed. Why would I (if I'm rich) lend that kind of money to someone who is broke? I need to you explain it to me! If "you", as a bank, have money, you have two basic obligations concerning it: keep enough to cover deposits ("reserve requirements"), and use it to make more money. The latter basically means lending it out at a certain rate of return. There's no "rich people hoarding money". Again, the financial industry's business plan is NOT "Gather all my money in a great big pile and roll around in it." Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted February 11, 2009 Share Posted February 11, 2009 If "you", as a bank, have money, you have two basic obligations concerning it: keep enough to cover deposits ("reserve requirements"), and use it to make more money. The latter basically means lending it out at a certain rate of return. There's no "rich people hoarding money". Again, the financial industry's business plan is NOT "Gather all my money in a great big pile and roll around in it." Funny how the term is called usury. Funny how some people in the world don't see eye-to-eye with us (you and me as active particpants in western society) with regards to usury. Funny how things are falling apart bankingwise... Strange coincidence, how some people are getting exactly what they wanted. Link to comment Share on other sites More sharing options...
RLflutie7 Posted February 11, 2009 Share Posted February 11, 2009 If "you", as a bank, have money, you have two basic obligations concerning it: keep enough to cover deposits ("reserve requirements"), and use it to make more money. The latter basically means lending it out at a certain rate of return. There's no "rich people hoarding money". Again, the financial industry's business plan is NOT "Gather all my money in a great big pile and roll around in it." You are not understanding my point. My point is the salary of the top people insulates them from reality. A bank executive can get careless with money and make stupid loans that have no chance of getting that "certain rate of return". Those loans default. But the top guy doesn't really care because he's too busy rolling around in all the money he "steals" from the bank that he works for. In a sense, they are hoarding money because they still get their pay and bonsues while wiping out shareholder value and making the bank insolvent. And if you look at the Lehman Brothers CEO, he's the only one left with money, because he made $450 million in salary in the 10 years before it went under. Not that he should apologize for it. But the compensation levels create the reality that is Lehman Brothers. Link to comment Share on other sites More sharing options...
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