Biden to Urge Federal Reserve to Take on Racial Wealth Gap

[Cuddles]

If you read my entire post instead of the first paragraph, you'd know I supported Ron Paul back when he was running. He is against CB's and support small businesses. I don't disagree companies like amazon are too big, people think they are an online store when in reality they have their fingers everywhere. Google and FB dominates 90+% of the Ad traffic online. I'm well aware of the unfairness but at least you can still buy stock in these companies.

We have a completely different mindset. I'm passed that, I know the system is rigged and support big businesses but at least you can still buy assets and build up slowly. And I don't see how the CB lowering interest rates is bad for small business. Everyone benefits. People who complain about the rigged system(not stating you), no matter how true it is won't improve their living standards.

We have a culture problem not monetary. If Fed prints money for the poor, equality will not change much. People will just spend all of it, all prices will go up and the rich will find new schemes to get richer.

And I disagee on them not innovating. I'm pretty sure big companies try to create new products everyday. Give me an example of current asset owners not innovating.

You're right, SLE will never accumulate wealth with that mindset.

 

[RGLD]

I think George Carlin had the right idea. He gave up on humanity, America is bought and paid for a long time ago. But his own personal developments for the future, he was very optimistic.

 

[Same Lazy Element]

Give me an example of current asset owners not innovating.

LOL, that's an easy one. American car industry (ex Tesla). It's a zombie industry taken to the extreme by the government support.

We have a culture problem not monetary. If Fed prints money for the poor, equality will not change much. People will just spend all of it, all prices will go up and the rich will find new schemes to get richer.

The Fed is already "printing money" (low interest rates, asset purchases etc) and it benefits the current asset owners. It's one of the issues with the firehose approach that the central banks have taken globally, all the water ends up in a ditch. Instead (to continue the analogy), they need to figure out an approach that will irrigate the whole field. While there seems to be an unhealthy fixation on the MMT-style monetary policy (both from the left and, considering the recent growth of the US debt to GDP, from the right) there are fairly easy, albeit painful fixes.

 

[RGLD]

LOL, that's an easy one. American car industry (ex Tesla). It's a zombie industry taken to the extreme by the government support.

The context you gave is they're comfortable enough as an asset owner to not innovate. They don't innovate because they're incompetent, not cause they feel safe. The Japanese just made cheaper, more reliable cars overseas while they circled the drain with ideas that didn't work.

If you're willing to look the other way, our tech industry is always innovativing.

 

[Same Lazy Element]

The context you gave is they're comfortable enough as an asset owner to not innovate. They don't innovate because they're incompetent, not cause they feel safe. The Japanese just made cheaper better cars with less issues and they circled the drain with ideas that didn't work.

In the world without government bailouts, they would innovate or die (and in death give their spot to someone more innovative and more efficient). Instead, they trudge along at a leisurely pace because of the implicit government guarantee. I certainly would call this a "comfortable" position to be in. After some number of bailouts, they have no interest and no skill to innovate (lost good executives, lost good engineers a.k.a. they are incompetent, as you said), but the primary reason is that there is no pressure on them to do anything at all, as their survival is all but guaranteed.

 

[RGLD]

In the world without government bailouts, they would innovate or die (and in death give their spot to someone more innovative and more efficient). Instead, they trudge along at a leisurely pace because of the implicit government guarantee. I certainly would call this a "comfortable" position to be in. After some number of bailouts, they have no interest and no skill to innovate (lost good executives, lost good engineers a.k.a. they are incompetent, as you said), but the primary reason is that there is no pressure on them to do anything at all, as their survival is all but guaranteed.

Well for what it's worth, Chrysler is no longer around. Yes I know they didn't go bankrupt like they should but it's a decision they made, not with government help. Tesla can put an end to them by convincing the government that a US auto maker can be competitive and innovative - and ones that are not should be allowed to fail.

Again I'm going to state the problems we have are cultural more than anything. We don't have any smart people in auto manufacturing because that's an old industry that had geniuses in the past when autos were the greatest gadgets. We still have smart people but they all decided to set their sights on the technology, medical and finance sectors. Which would explain why our tech and medical industry is the best no other country compares. Top 10 billionaires are in tech, that should paint a pretty clear picture of where our innovation went. Nothing is inspiring about auto engineering that attracts young talent to go into the industry. That is a cultural problem.

 

[piezoe]

If you read my entire post instead of the first paragraph, you'd know I supported Ron Paul back when he was running. He is against CB's and support small businesses. I don't disagree companies like amazon are too big, people think they are an online store when in reality they have their fingers everywhere. Google and FB dominates 90+% of the Ad traffic online. I'm well aware of the unfairness but at least you can still buy stock in these companies.

We have a completely different mindset. I'm passed that, I know the system is rigged and support big businesses but at least you can still buy assets and build up slowly. And I don't see how the CB lowering interest rates is bad for small business. Everyone benefits. People who complain about the rigged system(not stating you), no matter how true it is won't improve their living standards.

We have a culture problem not monetary. If Fed prints money for the poor, equality will not change much. People will just spend all of it, all prices will go up and the rich will find new schemes to get richer.

And I disagee on them not innovating. I'm pretty sure big companies try to create new products everyday. Give me an example of current asset owners not innovating.

This post is full of valuable insight. Thanks.

 

[Cuddles]

This post is full of valuable insight. Thanks.

now, now, no need to be patronizing.

 

[piezoe]

medical industry is the best no other country compares

Well you aren't terribly wrong as far as the number of countries that compare, but a few do. Both Cuba and Costa Rico, for example, compare very closely with the US in "overall health system performance. " "Best" is not quite the right adjective however.

 

[piezoe]

now, now, no need to be patronizing.

ha ha ha. I have never been any good at lying. Always get caught it seems.