The Destruction of the Middle Class by Enriching the Super-Rich

[Bapak2ja]

Here is a brilliant analysis of the impact of current liberal Democrat policies. They have destroyed the middle class, enriched the super-rich, and made permanent the impoverished reliance on welfare for poor. Is this the hope and change you voted for?

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The Late, Great Middle Class | National Review Online

 

[CarmelHP]

Here is a brilliant analysis of the impact of current liberal Democrat policies. They have destroyed the middle class, enriched the super-rich, and made permanent the impoverished reliance on welfare for poor. Is this the hope and change you voted for?

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The Late, Great Middle Class | National Review Online

All of it is absolutely true, and obvious for all to see, but the public still sleep walks around and ignores its fleecing.

 

[Jludo]

I think the Federal Reserve does the most enrich the elites. Free money and a booming stock market isn't enriching the middle class right now.

 

[MisterChester]

I wouldn't put the blame solely on Obama and the liberal democrats for the fall of the middle class, but they sure did have a hand in it. The machine has been running for decades.

 

[5.56'aholic]

I wouldn't put the blame solely on Obama and the liberal democrats for the fall of the middle class, but they sure did have a hand in it. The machine has been running for decades.

Your right, but he and his cronies are the ones nailing the coffin lid shut.

 

[GodFearinGunTotin]

Never has it been so good to be invested in a vastly expanding federal government — either to distribute or to receive federal subsidies. Never has it been so lucrative to work in banking or on Wall Street. And never has it been so bad to try to find a decent job making something real.

I've been thinking I'd like to retire when I get my 30 years in next year and start a second career...I'm thinking a nice, cushy, .gov job might be the ticket. Good working hours, weekends and holidays off, top-tier compensation packages, exemption from ObamaCare---where do I sign up?

 

[Hohn]

I think the Federal Reserve does the most enrich the elites. Free money and a booming stock market isn't enriching the middle class right now.

I have to push back on this.

I'm surprised and more than a little dismayed at how many "conservatives" really have a liberal viewpoint of economics, class warfare and all that.

How wealthy does a person have to be to open a *free* scottrade account, pay $7 in commission and join the investor class? You're telling me that things are so bad that a single trip to McDonald's can't be skipped?

The elites have their connections and many of them are really benefitting now-- but that's because they were *already* rich and are well-positioned to capitalize on good opportunities.

When real estate prices are at a 30 year low, the person who has enough money to buy a couple dozen properties is going to be able to capitalize on the opportunity much more than someone who's just trying to pay his own mortgage.


The rich do get richer and the poor get poorer, 'tis true. But this is mostly because the rich keep doing the things that made or kept them rich, and the poor keep doing the things that are making or keeping them poor.


The FED is doing a brilliant job thus far of managing a very challenging de-leveraging for our national economy. We've gone many decades of spending more than we made, so we must spend less than we make.

Remember, your income is someone else's spending, and your spending is their income. We people de-leverage, they are wiping out the amount of credit in the economy, which is deflationary. The more credit there was previously, the more deflationary is the paying down of that debt.

That's why the Fed can increase the amount of "base money" from $800B to nearly $3T and you don't see a tripling of prices in aggregate.

Those who rail against the Fed are revealing their economic ignorance and misdirecting of anger.

They rail against the Fed because it 'creates money out of thin air." Guess what? WE ALL CREATE MONEY FROM THIN AIR.


Ever pay for a something with a credit card? Congratulations, evil central banker-- you have also created money from thin air. More accurately, you have created credit, which spends just like money and affects prices just like money. But in a sense, you created money. The retailer from whom you made the purchase got money at the transaction-- but your checking account was completely unaffected. In effect, the money you spent exists in two places at the same time-- it is BOTH in your checking account AND in the retailer's account. This can only happen because you "created" money when you made a credit transaction. When you pay your CC bill, you "destroy" money (credit) when you use hard money to pay. Reducing credit is deflationary in the same way that destroying money is.

This is why the Fed can print off a couple trillion dollars in currency and interest rates remain low-- the printed currency offsets the destroyed credit in the economy.

 

[CarmelHP]

Nonsense, the above is the single most ignorant pseudointellectual claptrap that I've ever read on INGO and that's saying something. We're all a little dumber for having read it.

 

[poptab]

Guess what? WE ALL CREATE MONEY FROM THIN AIR.

Quoted for amusement

 

[churchmouse]

Yes. The general voting populace are living on money they are pulling from thin air. Revolving credit. Buy now.........hope you can pay later or answer one of the many legal adds on TV and file Chapter whatever is popular at the time.
We paid off and cut up our cards 5 years ago. No debt beyond house payment and taxes.

 

[traderdan]

Dave Ramsey is a good man.We all need to realize that we have been sold a Trojan horse,in that we seek to operate with a credit rating that allows us to live beyond our means...Credit is not to benefit YOU,but the banking system. If you cannot sell what you have and pay off everything you owe...You are BROKE! We are taught by media that we "need"many things that we do not! I like the article.It makes sense to me.

 

[churchmouse]

"and the man in the suit has just bought a new car from the profits he made off you dreams"
The low spark of high heeled boys. Steve Winwood.......oh to long ago.

 

[Hank in Indiana]

I've been thinking I'd like to retire when I get my 30 years in next year and start a second career...I'm thinking a nice, cushy, .gov job might be the ticket. Good working hours, weekends and holidays off, top-tier compensation packages, exemption from ObamaCare---where do I sign up?

Have you actually looked at the numbers or are you repeating something that you heard. I looked at the numbers and I can exept myself from obamacare by signing the paper and mailing it in. Here are the figures. If I sign the exemption my premiun goes up $50 a month for me and for my wife. If I don't sign , My premiun goes down $100 per month for me and $100 per month for my wife. That is for the same policy with the same company that I have now. That $200 per month that I get to spend on guns and bullets and keep the same benefits. My wife and I have paid taxes for almost 50 years it's about time we get something back besides 600 politicians shutting down, going home , and continuing to collect their paychecks.

 

[traderdan]

Have you actually looked at the numbers or are you repeating something that you heard. I looked at the numbers and I can exept myself from obamacare by signing the paper and mailing it in. Here are the figures. If I sign the exemption my premiun goes up $50 a month for me and for my wife. If I don't sign , My premiun goes down $100 per month for me and $100 per month for my wife. That is for the same policy with the same company that I have now. That $200 per month that I get to spend on guns and bullets and keep the same benefits. My wife and I have paid taxes for almost 50 years it's about time we get something back besides 600 politicians shutting down, going home , and continuing to collect their paychecks.

Sure sounds to me like your arm is being twisted to accept a government subsidized system that will be so inefficient that in the end,will not be truly available when you need it!

 

[Hank in Indiana]

Sure sounds to me like your arm is being twisted to accept a government subsidized system that will be so inefficient that in the end,will not be truly available when you need it!

That is exactly what the said about social Security and it would work fine if the politicians would stay out of it.

 

[GodFearinGunTotin]

Have you actually looked at the numbers or are you repeating something that you heard. I looked at the numbers and I can exept myself from obamacare by signing the paper and mailing it in. Here are the figures. If I sign the exemption my premiun goes up $50 a month for me and for my wife. If I don't sign , My premiun goes down $100 per month for me and $100 per month for my wife. That is for the same policy with the same company that I have now. That $200 per month that I get to spend on guns and bullets and keep the same benefits. My wife and I have paid taxes for almost 50 years it's about time we get something back besides 600 politicians shutting down, going home , and continuing to collect their paychecks.

That is exactly what the said about social Security and it would work fine if the politicians would stay out of it.

Imagine the money we'd all have if we got to keep the money we earned for ourselves if the government didn't confiscate--urr...tax it from us for SS and stayed out of the insurance business. But for every government program, for every tax dollar exacted to fund those programs, there is a satisfied recipient and a reliable voter.

 

[traderdan]

That is exactly what the said about social Security and it would work fine if the politicians would stay out of it.

I am not good with computers,but sometime ago someone sent me some info that showed clearly the wealth that the average working person could accumulate had he or she been able to invest privately the SSI funds withdrawn from the paychecks since the beginning of their working career. It was eye-opening to say the least!

 

[EvilElmo]

Nonsense, the above is the single most ignorant pseudointellectual claptrap that I've ever read on INGO and that's saying something. We're all a little dumber for having read it.

I believe this is what you're looking for:

[video=youtube;p7w64fbqYQY]http://www.youtube.com/watch?feature=player_detailpage&v=p7w64fbqYQY[/video]

 

[Manatee]

Mixing macroeconomic theory with micro economics or home economics is not very useful. But, what do you expect from a gun website?

 

[traderdan]

Seems to me that if everyone handled their micro economics with common sense and restraint,the macro economics would follow.