America's wealth gap 'unsustainable,' may worsen: Harvard study

[Texashiker]

That might be. The Democrats are the party of the poor and the Republicans are the party of the wealthy. Who is left to care about the middle class?

Yes, of course -- both are bought and paid for but the Democrats love to throw crumbs to the poor as their "defenders."

If I remember right, didn't union bosses support free trade? Weren't they pro GATT and pro NAFTA?

The middle class is doomed.

It seems nobody is working to get our jobs back from china.

 

[Attic]

If I remember right, didn't union bosses support free trade? Weren't they pro GATT and pro NAFTA?

The middle class is doomed.

It seems nobody is working to get our jobs back from china.

Those jobs aren't coming back unless some government statistical mill decides to pencil some in in front of an election or other required need for more of their BS.

 

[blackangst1]

Of course its unsustainable. All of the growth in income come from those who are connected to the monetary facet of the government. 7 of the 10 richest counties in the country surround Washington, D.C., whereas 15 years ago not a single one was on the top 10 list.

This is only possible if the dollar is the reserve currency. Government doing this--printing money to redistribute to itself and its cronies--would simply crash the dollar if this wasn't a currency backed by foreign central banks devaluing their own currencies to prevent the dollar from falling against their currencies.

7 of the 10 richest counties in the country surrounding DC not found.

Net worth maybe? No, thats not it either.

Where'd you get your stats?

 

[glenn1]

9-8-2014

http://finance.yahoo.com/news/ameri...worsen-harvard-study-110255435--business.html

America's wealth gap 'unsustainable,' may worsen: Harvard study

The widening gap between America's wealthiest and its middle and lower classes is "unsustainable", but is unlikely to improve any time soon, according to a Harvard Business School study released on Monday.

"Shortsighted executives may be satisfied with an American economy whose firms win in global markets without lifting U.S. living standards. But any leader with a long view understands that business has a profound stake in the prosperity of the average American," according to the report.

"Thriving citizens become more productive employees, more willing consumers, and stronger supporters of pro-business policies," it said. "Struggling citizens are disgruntled at work, frugal at the cash register, and anti-business at the ballot box."

==============================

Wait there's more from this Harvard study:

http://www.huffingtonpost.com/2014/09/08/businesses-reluctant-to-hire_n_5784384.html

America's 'Job Creators' Would Rather Do Anything But Create Jobs

America's capitalists take every chance they get to remind us that they are our "job creators," but it turns out that their least-favorite thing on earth to do is create jobs.

Most U.S. business leaders would rather build robots, outsource work or use part-time employees than hire workers full-time

Here's a new fun game - review a post from dmcowen and see how many times you can spot an instance of "Assumes facts not in evidence." I've counted 16, can anyone beat that?

 

[Hayabusa Rider]

Never mind what you have, look what the other guy has.

Here's where we part company. What I have and have earned on merit is being eroded by those paid to invent ways to keep those like me, those who do work, from even holding even with inflation so those at the top of the food chain can gain at an even more fantastic rate. I begrudge no one what they have labored for, but their work has centered around taking for themselves. Only a fool would favor that.

 

[glenn1]

Here's where we part company. What I have and have earned on merit is being eroded by those paid to invent ways to keep those like me, those who do work, from even holding even with inflation so those at the top of the food chain can gain at an even more fantastic rate. I begrudge no one what they have labored for, but their work has centered around taking for themselves. Only a fool would favor that.

This is where a lot of people mislead themselves about their value and "merit." Can you, in quantifiable and demonstrable terms, prove how much economic value you created for the company? If you can't say something like "negotiated $10MM in direct sales to the company" or "developed a suite of process improvement methods that led to a $500K cost avoidance" then at best you're a replacement level cog, a line item in the accounting string of a cost center.

 

[Jhhnn]

This is where a lot of people mislead themselves about their value and "merit." Can you, in quantifiable and demonstrable terms, prove how much economic value you created for the company? If you can't say something like "negotiated $10MM in direct sales to the company" or "developed a suite of process improvement methods that led to a $500K cost avoidance" then at best you're a replacement level cog, a line item in the accounting string of a cost center.

In other words, the vast majority of Americans have little to no value or merit, given that only a few are granted the opportunity to do the things you see as important.

 

[poofyhairguy]

No matter your personal opinion of who is worth what, or who deserves what, the truth is that every American citizen has real leverage over the 1%. Through either political revolution (aka a extremely progressive income or state tax) or through violent upheaval (which would tank the stock market) they have the ability to either take or destroy the wealth that makes the 1% the 1%. Sure some of the 1% might move to some island that is a rich person's utopia, but eventually they have to come to America for a business meeting or send their kids to Harvard to get an education and then you have them by the balls.

So chose 1%ers: are you just going to break down and give every American a decent standard of living just for existing to placate us all, or does the 99% rise up and take it from you ruining a lot of progress and wealth in the process?

The time for mental games of what philosophy is right and which one is wrong is running out. Soon the rubber will meet the road and it will come down to what line on the balance sheet- chaos or placation- saves you the most money. I bet its placation.

 

[glenn1]

In other words, the vast majority of Americans have little to no value or merit, given that only a few are granted the opportunity to do the things you see as important.

How do you go through life choosing among options without a way to evaluate and rank them? Do you just select any random thing without gathering any information about it to rank them either quantitatively or qualitatively? Employees (or potential employees) are no different, and if you can't demonstrate your accomplishments/worth with a metric or some kind or another then you might as well not have accomplishments at all.

If the employee example is too difficult for you to conceptualize since you'd never take money from your own pockets to hire anyone yet expect rich "job creators" to employ people at living wages on your behalf, imagine how you'd rank politicians you vote for. Whether it's by the amount of increased welfare spending they'd commit to, how high they'd raise taxes on the rich, or whatever else your preferred progressive policy metric is.

 

[glenn1]

No matter your personal opinion of who is worth what, or who deserves what, the truth is that every American citizen has real leverage over the 1%. Through either political revolution (aka a extremely progressive income or state tax) or through violent upheaval (which would tank the stock market) they have the ability to either take or destroy the wealth that makes the 1% the 1%. Sure some of the 1% might move to some island that is a rich person's utopia, but eventually they have to come to America for a business meeting or send their kids to Harvard to get an education and then you have them by the balls.

So chose 1%ers: are you just going to break down and give every American a decent standard of living just for existing to placate us all, or does the 99% rise up and take it from you ruining a lot of progress and wealth in the process?

The time for mental games of what philosophy is right and which one is wrong is running out. Soon the rubber will meet the road and it will come down to what line on the balance sheet- chaos or placation- saves you the most money. I bet its placation.

LOL, what's the populist Plan B after your pathetic attempt at extortion fails? Even if it happened your best case scenario would be the Whiskey Rebellion (try to imagine Obama leading that expedition if you want a laugh) and worst case Tiananmen Square. Either way the only impact would be a few dead rioters.

 

[Hayabusa Rider]

This is where a lot of people mislead themselves about their value and "merit." Can you, in quantifiable and demonstrable terms, prove how much economic value you created for the company? If you can't say something like "negotiated $10MM in direct sales to the company" or "developed a suite of process improvement methods that led to a $500K cost avoidance" then at best you're a replacement level cog, a line item in the accounting string of a cost center.

People complain when they pay taxes but embrace ruin by employers. OK, I suggest we kick the politicians in the nads until the laws are changed. People are more important than the absolute highest possible profit. There is a skilled labor set, resources, and a large market. Those who feel they don't have an obligation to our nation are free to leave. The market will find replacements for them too.

 

[dmcowen674]

No matter your personal opinion of who is worth what, or who deserves what, the truth is that every American citizen has real leverage over the 1%.

Through either political revolution (aka a extremely progressive income or state tax) or through violent upheaval (which would tank the stock market) they have the ability to either take or destroy the wealth that makes the 1% the 1%.

So chose 1%ers: are you just going to break down and give every American a decent standard of living just for existing to placate us all, or does the 99% rise up and take it from you ruining a lot of progress and wealth in the process?

The time for mental games of what philosophy is right and which one is wrong is running out. Soon the rubber will meet the road and it will come down to what line on the balance sheet- chaos or placation- saves you the most money. I bet its placation.

History always repeats itself because of the ugly of human nature.

These 1%ers will continue what they are doing until the pitchforks come for them.

 

[poofyhairguy]

LOL, what's the populist Plan B after your pathetic attempt at extortion fails? Even if it happened your best case scenario would be the Whiskey Rebellion (try to imagine Obama leading that expedition if you want a laugh) and worst case Tiananmen Square. Either way the only impact would be a few dead rioters.

This isn't China. If there is major violence and upheaval near Wall Street or in multiple major cities it will cost the 1% billions or trillions in lost investments alone. After 9/11 the stock market almost crashed, if that was actual Americans acting out the DOW would lose thousands of points in a day no matter who "wins" the fight. The tank that crushes me would cause a media panic that would crush the S&P 500. The political uncertainty of such events would hurt America's standing in the world, and might even hurt our credit rating (which again would screw the 1%). THAT is the leverage the 99% have.

Unlike in the days of the Whiskey Rebellion there is a lot more on the line. So much of economic performance is tied to perception- such as the CCI- that all it would take is a PERCEIVED uprising in America for the 1% to lose more in the markets than if they would lose just giving every single American a few tens of thousands a year to shut up, be happy, and shop at Wal-Mart. And they realize this, hence the Harvard study.

I expect eventually the opposition to things like a higher minimum wage, tax rebates, etc. to weakened as more 1%ers realize this. I also expect immigration reform becomes a bigger deal because it will be worth more to be an American, and so the 1% will have a motivation to keep as many people off the bribery lists as possible.

 

[dmcowen674]

Here's a new fun game - review a post from dmcowen and see how many times you can spot an instance of "Assumes facts not in evidence." I've counted 16, can anyone beat that?

Awwww, getting nervous 1%er?

 

[poofyhairguy]

These 1%ers will continue what they are doing until the pitchforks come for them.

I don't think so. I think many 1%ers are 1%ers for a reason. I think they will look at the balance sheet and see just giving every American $50,000 a year to "service" each other is cheaper than the trillions lost if enough people become unhappy (because the markets would be threatened).

Or they will all chose to leave America in a huge group and go make some island utopia or something. Because if they stay here, and want to be considered Americans, the writing is on the wall.

 

[dmcowen674]

Executives lost touch with the rest of the population years ago when everyone became concerned with performance quarter-over-quarter instead of long-term growth and strategy.

IMO, this has caused many unsound, hasty business decisions that have had a profound impact on our society.

Executives need a market for their products and the more Americans that can't afford their products, the more their sales will slump.

Wow, you validate all my years of posting in one shot even though you have railed against what I've been saying and still do.

You are a very odd sad little duck.

 

[dmcowen674]

Originally Posted by dmcowen674
These 1%ers will continue what they are doing until the pitchforks come for them.

I don't think so. I think many 1%ers are 1%ers for a reason.

I think they will look at the balance sheet and see just giving every American $50,000 a year to "service" each other is cheaper than the trillions lost if enough people become unhappy (because the markets would be threatened).

Or they will all chose to leave America in a huge group and go make some island utopia or something.

Because if they stay here, and want to be considered Americans, the writing is on the wall.

No. There are a lot of 1%ers that are not as smart as you think they are.

Many just happened to be at the right place at the right time.

Just look at the posts of the 1%ers in here, clearly no brains.

Yes, some have secured their dual citizenships to places like Monaco but not all.

Many will still be here for the pitch forkers to get.

 

[poofyhairguy]

No. There are a lot of 1%ers that are not as smart as you think they are.

Many just happened to be at the right place at the right time.

Sure there are those who just inherited the wealth. But a little more than half of the Fortune 400 did in on their own, which shows they have some talent or intelligence. They are not just going to let all their investments go to crap because some spoiled kids won't play along.

 

[dmcowen674]

LOL, what's the populist Plan B after your pathetic attempt at extortion fails?

Even if it happened your best case scenario would be the Whiskey Rebellion (try to imagine Obama leading that expedition if you want a laugh) and worst case Tiananmen Square.

Either way the only impact would be a few dead rioters.

Go ahead, keep thinking that.

Look how quickly entire areas of a city can be laid to waste like in L.A. (Rodney King verdict) or just recently with St. Louis (Ferguson).

As much as they try and Militarize the Police forces it would never be enough.

Shears numbers, shear numbers.

 

[IndyColtsFan]

Awwww, getting nervous 1%er?

LOL, you have no clue what a 1%er even is.

 

[dmcowen674]

Originally Posted by dmcowen674
No. There are a lot of 1%ers that are not as smart as you think they are.

Many just happened to be at the right place at the right time.

Sure there are those who just inherited the wealth. But a little more than half of the Fortune 400 did in on their own, which shows they have some talent or intelligence. They are not just going to let all their investments go to crap because some spoiled kids won't play along.

You're funny. You give them way too much credit.

 

[IndyColtsFan]

Wow, you validate all my years of posting in one shot even though you have railed against what I've been saying and still do.

You are a very odd sad little duck.

Unlike you, I can analyze things and come to logical and thoughtful conclusions rather than randomly (and blindly) railing against people and making things up. I'm a pragmatist. I'm doing well in life but I'm concerned about others and the declining standard of living here in the US. I'm not concerned only because I'm a nice guy, I'm concerned because the better everyone else has it, the more opportunities I'll have.

 

[dmcowen674]

Originally Posted by dmcowen674
Awwww, getting nervous 1%er?

LOL, you have no clue what a 1%er even is.

Well well, looks like I hit a nerve. :biggrin:

 

[IndyColtsFan]

Originally Posted by dmcowen674
Awwww, getting nervous 1%er?



Well well, looks like I hit a nerve. :biggrin:

You hit a nerve with me because you don't even know what a 1%er is? That's interesting logic. I'll give you a hint -- very few people in this forum are 1%ers, me included.

 

[dmcowen674]

Quote:
Originally Posted by IndyColtsFan
That might be. The Democrats are the party of the poor and the Republicans are the party of the wealthy. Who is left to care about the middle class?

Quote:
Originally Posted by IndyColtsFan
Yes, of course -- both are bought and paid for but the Democrats love to throw crumbs to the poor as their "defenders."

If I remember right, didn't union bosses support free trade? Weren't they pro GATT and pro NAFTA?

The middle class is doomed.

It seems nobody is working to get our jobs back from china.

But but but Indyfan is "concerned" about the little people so all will be well.

Bahahahahaha :biggrin: