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Eat Us And Smile
Cenk For America 2024!!
Justice Democrats
"If the American people had ever known the truth about what we (the BCE) have done to this nation, we would be chased down in the streets and lynched." - Poppy Bush, 1992 -
Eat Us And Smile
Cenk For America 2024!!
Justice Democrats
"If the American people had ever known the truth about what we (the BCE) have done to this nation, we would be chased down in the streets and lynched." - Poppy Bush, 1992 -
Wealth gaps are cyclical. The cycle seems to be 100 years. In 1915 the upper 1% made 20% of the income. It's about the same today. When nobody cared the upper 1% bribed politicians to get rid of legislation like Glass Stiegal that made collusion in the markets more difficult. Now with the citizens feeling the pain and the real estate, healthcare, and education bubbles ready to pop. The 1% take a big hit. Mid cycle you have an emerging middle class again (if you have a new wave of births or educated immigrants to drive the economy). Things should start to turn for the better around 2030.
Don't expect a quick turnaround on this. Things just have to crash first. I guess everyone has a depression in their lifetimes. This is ours.No! You can't have the keys to the wine cellar!Comment
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What depression? I've seen far worse economies than the current..."Ya know what they say about angels... An angel is a supernatural being or spirit, usually humanoid in form, found in various religions and mythologies. Plus Roth fan boards..."- ZahZoo April 2013
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One thing you can always count on with Ventura: how he unnecessary condescends to his guest.Comment
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Wait until real estate bubbles around the world start to pop. It started with the sub prime crises in 2008 and then the financial institutions were bailed out by the governments and there's been lots of quantitative easing with most of the money going into speculation. It's all just bought time for a bigger crash later. Especially in real estate. I predict the next ten years will be pretty rough going.No! You can't have the keys to the wine cellar!Comment
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JP Morgan Chase is essentially broke. Most these large banks are saddled with derivative debt to levels it cancels out any retained earnings they have. It's why they are called zombie banks and the only thing that keeps them going is government bailouts. Most this corruption would have ended by letting these banks fail. The big losers would be the people screwing us and better financial institutions would replace them. We need to let the losers fail. People are dumb enough to let broke banks buy up their government and get screwed. So who's fault is it? The people. Sheep get sheared.No! You can't have the keys to the wine cellar!Comment
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Thom Hartmann has predicted that things could turn really bad up there in 2016. I haven't read his book on the subject yet, but I'm not sure if he suggests there's a way out of it. But there is a way to keep it from happening again in the future, and that's to reinstate all the policies that FDR and his cousin Teddy put in place to fight the greedy bastards.Eternally Under the Authority of Satan
Originally posted by SockfuckerComment
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The major force behind economies is demographics. The cycle of births determines the cycle of economies. We are on the tail of the boom economy caused by the baby boom and now it's contracting.
Teddy Roosevelt was famous for busting the trusts and FDR was famous for legislation that made financial fraud more difficult. Why this happened was the public was fed up and demanded it. You get such political action when times are bad.
When times were good and nobody cared and legislation like Glass Stiegal were repealed. Right during a boom economy when Clinton was president. People didn't care. They were going to get rich quick in the stock market and flipping real estate.
People care now and with the baby boom aging and spending less there isn't anything to drive the economy up again until the next wave starts making money and spending it. With 20 somethings moving back in with mom and dad it's going to delay the recovery even more.
The government needs to arrest the crooks but it's difficult when Eric Holder is in bed with them. Obama does nothing. Also bailing the losers out was a huge mistake. Oh it bought some time but we are going to have a bigger downturn when the speculative bubbles driven by the funny money start popping. Get ready for a huge real estate collapse and it will take the rest of the economy down with it. Timing is difficult. When will it happen? Nobody knows but soon and it will happen. Of course without another bail out the fat cats everyone hates lose big time and guess what. These are the sort of things that shrink the income gap.
Let the losers fail.Last edited by Nitro Express; 08-04-2014, 03:31 AM.No! You can't have the keys to the wine cellar!Comment
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"Ya know what they say about angels... An angel is a supernatural being or spirit, usually humanoid in form, found in various religions and mythologies. Plus Roth fan boards..."- ZahZoo April 2013Comment
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