Koch brothers: wealth grew from $7.5 billion to $50 billion in last seven years

[Craig234]

So, these are the guys complaining about and fighting 'socialist' Obama. It'd be one thing if his policies had been for the people, reversing the concentration of wealth.

That's not the case, as the picture shows. So their complaint really, is that the economic shift bad for most Americans but great for them simply isn't enough.

When you see the growth above - which contrasts to the record debt of average Americans - you can see how easy it is to 'buy government' with pocket change.


And there you have the formula they've followed - buy state elections nationally, with record Republican wins; have those statehouses pass radical policies favoring 'their side', from reducing union rights and strength to lower Americans' wealth and power, to voter suppression to help them win even more elections. And in at least one 'swing state', Pennsylvania, so far, they've arranged for the win of Obama of 21 electoral votes to only give him 1 electoral vote in 2012, if repeated.

One of the most parasitic and harmful economic activities has been 'commodity speculation', which has skyrocketed prices from oil to food globally.

The Koch brothers have been doing that - the picture above showing their growing their wealth over 500% with tens of billions, shows the wealth Americans are losing.

That's not the Koch brothers 'inventing a great new energy technology benefiting society and profiting from it' - that'd be fair, though of course, they wouldn't invent it, they'd just luckily have the money to pay for its invention. No, that's inventing a new way to be parasites.

For more reading on the oil speculation they've been doing:

http://thinkprogress.org/report/koch-oil-speculation/

Their simple political formula of having a contest of candidates to get voters to fall for any line they offer, but support policies that benefit them, has been working.

Will it continue to, or will Americans realize how they're being harmed by these few at the top?

It'd be one thing if this were a story of 'Kock brothers up, others down', but *as a class*, the top 0.01%, the top 400, look a lot like the chart above.

As a class, they have been 'waging class warfare on America' and winning. And that's related to their growing a lot at the same time most have a 'bad economy'.

 

[spidey07]

Now THAT'S what I call an American success story! This is an example of the progressives worst nightmare - somebody succeeding in America.

 

[nageov3t]

how many people do they employ?

 

[Craig234]

Now THAT'S what I call an American success story! This is an example of the progressives worst nightmare - somebody succeeding in America.

Ignorant and immoral person you are, you can't tell the difference between rewarding constructive things, and rewarding theft, crime and other harms.

Progressives are the group who want Americans to do well - not just one, sitting as a slave owner on all the wage slaves making peanuts, but to have broad opportunity.

The Koch brothers' activities are partly designed to harm the people of the country, partly parasitical simply draining wealth, not adding value. Hence your ignorance.

 

[Londo_Jowo]

how many people do they employ?

70,000 employees globally, 50,000 of which are located in the US.

 

[Craig234]

how many people do they employ?

In some of their businesses, plenty. How do they use the money they make from those workers? To corrupt politics and extract more wealth from America.

In their oil speculation? Not so many employed. Just billions in profits extracted, in what IIRC an oil company CEO said could be up to 40% of the cost of oil.

 

[Londo_Jowo]

In some of their businesses, plenty. How do they use the money they make from those workers? To corrupt politics and extract more wealth from America.

In their oil speculation? Not so many employed. Just billions in profits extracted, in what IIRC an oil company CEO said could be up to 40% of the cost of oil.

How do they differ from rich liberals, progressives, and powerful unions?

 

[blackangst1]

Ignorant and immoral person you are, you can't tell the difference between rewarding constructive things, and rewarding theft, crime and other harms.

Progressives are the group who want Americans to do well - not just one, sitting as a slave owner on all the wage slaves making peanuts, but to have broad opportunity.

The Koch brothers' activities are partly designed to harm the people of the country, partly parasitical simply draining wealth, not adding value. Hence your ignorance.

So legal commodities trading takes money from the poor, doesnt actually create wealth, but, as you said, drains it (from where is it drained?), and is parasitical now?

Wow.

BTW, serious question here. Can you point me to a progressive political member that has introduced a bill to end commoditites trading? I mean, since progressives supposedly abhor activies like this there should be, or should have been, at least one such proposal.

 

[Engineer]

So legal commodities trading takes money from the poor, doesnt actually create wealth, but, as you said, drains it (from where is it drained?), and is parasitical now?

You don't think that the high gas prices of the last few years (and from the mid 2000's up until about 2008) drained more money from the poor and acted as a parasite on the economy, legal or not?

Come on man....you know better.

 

[dmcowen674]

how many people do they employ?

Every one of them should start looking for new jobs.

America is going after these guys as they should.
=================================================
Koch is also participating in the unregulated derivatives markets as a financial player, buying and selling speculative products that are increasingly contributing to the skyrocketing price of oil.”

In other words, every time the price of gas goes up for no particular reason other than the vague energy speculators excuse, the Koch brothers just made themselves more money.



Charles and David Koch are profiting by artificially raising the price of energy futures.



What makes the Koch brothers different is that they have taken some of their vast fortune and used it to fund candidates and elected officials in the Republican Party who will allow them to keep making money while the rest of America winces when they have to fill up the gas tank.


The Bush Recession has been great for people like Charles and David Koch. With a 43% gain in wealth, it is no wonder why they want to keep the bad times going for the rest of us. While the super rich have gotten even richer, everyone has seen their wealth plummet.

 

[Londo_Jowo]

Every one of them should start looking for new jobs.

America is going after these guys as they should.

Are you going to lead the charge Chicken Little?

 

[RedChief]

70,000 employees globally, 50,000 of which are located in the US.

IIRC, 80% of their workforce is unionized so about ~40,000 union employees.

 

[blackangst1]

You don't think that the high gas prices of the last few years (and from the mid 2000's up until about 2008) drained more money from the poor and acted as a parasite on the economy, legal or not?

Come on man....you know better.

And you think people like the Koch brothers influence gas prices more than, say, OPEC and it's 11 country members?

Come on man...you know better.

 

[Engineer]

And you think people like the Koch brothers influence gas prices more than, say, OPEC and it's 11 country members?

Come on man...you know better.

Actually, the speculative traders have indeed influenced gas prices more than OPEC and the rest. This hasn't been a supply problem, it's been a spectator bubble on commodities.

 

[Londo_Jowo]

IIRC, 80% of their workforce is unionized so about ~40,000 union employees.

As are most people who work in the oil & gas, chemical, and paper industries.

 

[Gonad the Barbarian]

I have no doubt much of the current government obstructionism is being fueled by commodity speculators.

1. Invest in gold/oil/food/etc.
2. Create government and economic turmoil.
3. Profit.

 

[matt0611]

Actually, the speculative traders have indeed influenced gas prices more than OPEC and the rest. This hasn't been a supply problem, it's been a spectator bubble on commodities.

If speculators bid up gas prices beyond what actual supply & demand say they should be they get hosed if they're wrong when prices go back down. You can't just bid up prices to gain profits arbitrarily.

 

[LegendKiller]

Ignorant and immoral person you are, you can't tell the difference between rewarding constructive things, and rewarding theft, crime and other harms.

Progressives are the group who want Americans to do well - not just one, sitting as a slave owner on all the wage slaves making peanuts, but to have broad opportunity.

The Koch brothers' activities are partly designed to harm the people of the country, partly parasitical simply draining wealth, not adding value. Hence your ignorance.

Of course he's an amoral person. He's also a socialist. He's all for big government when it benefits him, like his overpaid publicly employed wife. As long as it's somebody else's money, he's all good.

What's ridiculous about him, and the Koch brothers, is that their oil speculation is nothing more than wealth sucked from the lower and middle classes, the very people who can afford it the least, since they play a zero-sum game. If they are making money on oil speculation, somebody else is paying more.

This is the corporate plutocracy that would thrive under the Libertopian agenda and is *EXACTLY* why the Koch brothers are funding it.

 

[LegendKiller]

If speculators bid up gas prices beyond what actual supply & demand say they should be they get hosed if they're wrong when prices go back down. You can't just bid up prices to gain profits arbitrarily.

You absolutely can. I know several people in the oil transportation sector that'd differ from your opinion. So would T. Boone Pickens, who has made tons of money doing the pump-and-dump on oil.

 

[dmcowen674]

If speculators bid up gas prices beyond what actual supply & demand say they should be they get hosed if they're wrong when prices go back down. You can't just bid up prices to gain profits arbitrarily.

<Shakes head>

Wow, you haven't learned a damned thing on here.

Pretty sad

 

[dmcowen674]

Of course he's an amoral person. He's also a socialist. He's all for big government when it benefits him, like his overpaid publicly employed wife. As long as it's somebody else's money, he's all good.

What's ridiculous about him, and the Koch brothers, is that their oil speculation is nothing more than wealth sucked from the lower and middle classes, the very people who can afford it the least, since they play a zero-sum game. If they are making money on oil speculation, somebody else is paying more.

This is the corporate plutocracy that would thrive under the Libertopian agenda and is *EXACTLY* why the Koch brothers are funding it.

I'm shocked you are talking about your kind this way.

Why?

 

[matt0611]

You absolutely can. I know several people in the oil transportation sector that'd differ from your opinion. So would T. Boone Pickens, who has made tons of money doing the pump-and-dump on oil.

Well yeah, of course, certain individuals can in the short run, I'm talking about on the whole over the long run.

 

[LegendKiller]

Well yeah, of course, certain individuals can in the short run, I'm talking about on the whole over the long run.

You really only need it in the short run to establish a new higher price level for inelastic demand. Simple economics.

Longs on top of longs on top of longs, even simple futures, along with pump-and-dump cheerleading will cause this type of long-term commodities rally. In any fair world it'd be simple market manipulation, in this country, it's just fine to let somebody suck billions of dollars of wealth from the lower classes to the upper classes.


And you fools bitch about the "bailouts". You cheer these fuckers on and buy into their bullshit through the Teabagger Express while they make your gas and food cost more, not because it should cost more, but because they can make it cost more for 100% profit.

 

[spidey07]

You really only need it in the short run to establish a new higher price level for inelastic demand. Simple economics.

Longs on top of longs on top of longs, even simple futures, along with pump-and-dump cheerleading will cause this type of long-term commodities rally. In any fair world it'd be simple market manipulation, in this country, it's just fine to let somebody suck billions of dollars of wealth from the lower classes to the upper classes.


And you fools bitch about the "bailouts". You cheer these fuckers on and buy into their bullshit through the Teabagger Express while they make your gas and food cost more, not because it should cost more, but because they can make it cost more for 100% profit.

So why don't you join them, you're obviously in the position to do so to better yourself, or so you portray.

 

[Engineer]

You really only need it in the short run to establish a new higher price level for inelastic demand. Simple economics.

Longs on top of longs on top of longs, even simple futures, along with pump-and-dump cheerleading will cause this type of long-term commodities rally. In any fair world it'd be simple market manipulation, in this country, it's just fine to let somebody suck billions of dollars of wealth from the lower classes to the upper classes.


And you fools bitch about the "bailouts". You cheer these fuckers on and buy into their bullshit through the Teabagger Express while they make your gas and food cost more, not because it should cost more, but because they can make it cost more for 100% profit.

:thumbsup: