http://www.latimes.com/news/local/la-me-0823-middle-class-20120823,0,6206289.story
Eroding middle class falls to 51% as top 1% takes more and more
By Patrick Follow Thu, 23 Aug 2012, 2:28pm 1,413 views 19 comments
In Menlo Park CA 94025
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San Jose, CA
Patrick,
Hush. 1% wants to make sure idiots don't realize we are hoarding all the money that the government is printing. We charge middle class more and more for the basic necessities for life. And we dodge tax by transferring the money overseas. We only need to spend a little to fool the idiots to think that the investment is trickling the wealth down to the middle class.
Remember that we can easily manipulate the number, so idiots don't think the cost of living is skyrocketing. If people complains the cost of living is getting higher, we just have to point to the data. What you don't see shouldn't hurt.
In a mean time, we, investors, demand more profits by cutting more jobs or sending more jobs overseas like China. (Sure, Thomas Wong, you cay say whatever you want. It is cheaper to send jobs to China. And Chinese government is pegging Chinese currency, Yuan, so low. It only makes sense to send jobs overseas. Who wants to pay people more for just screwing nuts and bolts?) Hey, if I pay good money, then they'd better work like slaves.
So who care if people are losing motivation to work in US? We just send jobs overseas and hire illegals.
Maybe I shouldn't talk more.
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http://www.moneynews.com/outbrain/billionaires-soros-paulson-gold/2012/08/17/id/448923?PROMO_CODE=FBDA-1
Bernanke says "gold isn't money". So why are these filthy rich people exchanging money for something that ISN'T money? Are they idiots, or what?
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Honest Abe says
Soros and Paulson are making short term bets on the knowledge that QE3 is now guaranteed.
It will spike the gold market, but it will not result in inflation or anything long term for gold. The hyper-inflationary scenario is now impossible while Republicans hold any political power.
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Maybe its a good time to start buying gold, or no?
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Roslyn, NY
Yes... hahahaha
Nothing more I love than to hear how us 1% percent criminal scum are sucking all the wealth out of you 99% of peons...
You peasants will eat dirt before your masters will be done with financially raping you...
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http://www.spreecast.com/events/ex-nfl-great-to-blacks-say-no-to-obama/embed-medium
Obama has failed and refused to uphold his own campaign promises and is ineligible for re-hire. Vote obama OUT.
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iwog says
Gas prices just reached their highest avg. ever - maybe not hyper-inflation, but we have solid, brutal inflation, in real terms likely over 5% already.
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Honest Abe says
I don't know. Is a share of stock money? Are pork belly futures money?
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If Americans are dumb enough to reelect Chairman oba Mao, then we're really in trouble. Thats when he will unleash his real feelings about America. I predict third world status, third world policies, oppression, poverty, more police state tactics, and loss of freedom squared.
He's already failed in his campaign promises when it mattered. Imagine how bad it will be when it doesn't matter.
Vote him out now and end the threat to America as we know it.
Tat - I suppose a share of stock could lose ALL its "value" and be worthless as the paper its printed on. I don't know about pork bellies - people love their bacon, so futures could always be worth something.
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Nobody says
your not a very good investor based on your comments above. Neither investors nor firms seek ever higher returns... they booth seek consistent and stable returns.
Frankly, i am the only one here who has stated jobs (mfg and R&D) should be returned and based in the USA. There are no long term benefits having jobs overseas. What is ours is ours!
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thomaswong.1986 says
You're kidding right? I can't believe you are a CPA if you really believe that.
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tatupu70 says
last i heard they stopped trading pork belly on the futures exchanges.
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The declines have been published every year for some time now. It shouldn't be a big surprise all of sudden we had a drop from 2000 - 2010. Thats why spiral inflating home prices didnt make sense. And it still doesnt make sense !
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thomaswong.1986 says
This is bullshit and you have no idea what you are talking about. People like Warren Buffett are the exception. The rule is billionaires like Soros and Koch making billion dollar speculative bets
JPMorgan Trading Loss May Reach $9 Billion
http://dealbook.nytimes.com/2012/06/28/jpmorgan-trading-loss-may-reach-9-billion/
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tatupu70 says
I can believe he claims to be a CPA. But based on some of his very incorrect posts about taxes I can't believe is is one.
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I still think class label is irrelevant. Social mobility should be the focus. Those who inspire to stay exactly where they are deserve to go nowhere.
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46 male
Menlo Park, CA
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The problem is that the playing field is not at all level, so aspirations don't have very much to do with outcomes.
You can be extremely ambitious and hard working, but if you can't get a good education and can't afford health care, you're at a big disadvantage.
The poor are generally FAR more entrepreneurial and hard working than the middle class, or the rich. They start little businesses left and right.
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Honest Abe says
Depends. What is the correct price for gold, and how did you calculate that price?
"The market price" is meaningless. The market price for houses rose in the bubble for no reason other than that it was rising and that created fake paper collateral, which then allowed yet more lending.
I suspect the right price for gold is the cost of extracting the next ounce from the ground, which I think is about $500/ounce. It's kind of silly to pay more than that.
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Patrick says
One also needs to be adaptive and have the right mindset. Education is not necessary beyond high school.
I definitely agree that universal healthcare is a major pillar of a free society. We cannot tie healthcare to wage-slavery.
Patrick says
They tend to adopt inflexible and disadvantaged meta-ethical frameworks. For the want of a better society, everyone should read Nietzsche and Ayn Rand.