Wealth gap widens

Quote from hughb:

http://money.cnn.com/2012/06/21/news/economy/wealth-gap-race/index.htm?source=cnn_bin

The wealth gap between whites and blacks has widened. This story has been on pretty much every news media outlet for a few weeks now, maybe even months, the hidden implication being that it is a problem that needs to be addressed.
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This is fairly routine knowledge now. Same for the recession's effect on the gap between men and women, between the more educated and the less educated, and the gap between young and old. Give me something new, interesting, for example, the recession's effect on wealth between the religious and the secular.
 
Where does everybody fit in on that graph? I'm above Hispanic and below Asian. A house is like anything else as far as I'm concerned - if you can't afford it, don't buy it - so I rent an apartment. All of my wealth is in cash and marketable securities, unless you count my car and belongings. And if you do count my car and belongings I'm right there knocking on those Asian's doors.....
 
Quote from hughb:

http://money.cnn.com/2012/06/21/news/economy/wealth-gap-race/index.htm?source=cnn_bin...
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Quite biased pseudo-analysis... Doesn't account for small/medium businesses being part of the upper tier, makes it seem like we are dealing with inherited money here. Also, instead of saying how we can lift the lower class, eg, encouraging them to get jobs they don't like or start mini-businesses like their grandparents did before, it suggests that the solution is to raise taxes, ie, piss off the most knowledgeable and powerful segment of the population, the job/opportunity creators, and give more control of the economy to the most clueless and self-interest-driven market participant of them all, the government. A simple answer, however, is, if the government were to stop encouraging non-hard-work-options like welfare and tax-the-rich-schemes, unemployment would be much lower and we'd all be much more secure.
 
When asset prices go up, the gap between the wealth of the rich and poor goes up naturally. It's what happens when the stock market goes up.

What we need to fix this is a good bear market. How come the left didn't cheer when the wealth gap went down in 08 and 09? Because they change definitions to fit their narrative. When asset prices go down, they then switch to income level gaps which will widen during a recession.

They think they're pretty cute, what with always having a way to sell the idea that there is a widening gap between rich and poor, no matter what the economic circumstances.

It's a game to them, screwing with people's lives.
 
Quote from mike oxbig:

When asset prices go up, the gap between the wealth of the rich and poor goes up naturally. It's what happens when the stock market goes up.

What we need to fix this is a good bear market. How come the left didn't cheer when the wealth gap went down in 08 and 09?
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It did? Assuming it did, an up day does not an up-trend make.
 
Quote from mike oxbig:

When asset prices go up, the gap between the wealth of the rich and poor goes up naturally. It's what happens when the stock market goes up.

What we need to fix this is a good bear market. How come the left didn't cheer when the wealth gap went down in 08 and 09? Because they change definitions to fit their narrative. When asset prices go down, they then switch to income level gaps which will widen during a recession.

They think they're pretty cute, what with always having a way to sell the idea that there is a widening gap between rich and poor, no matter what the economic circumstances.

It's a game to them, screwing with people's lives.
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+1

Screwing with lives AND fucking up the country AND inciting class warfare.
 
Wealth gap widens

Its always funny listening to hardcore leftists complain about how the wealth gap is getting wider, as though the poor in this country are somehow worse off today then they were 50 years ago.....


I saw an article the other day, and i wish I had saved it, they did a survey of people living on Welfare, or unemployment benefits, and they asked what these people OWNED...... The results were shocking it went something like this, 90% of people living on welfare or unemployment benefits have a t.v. and a computer and internet in their house, 70% of people living on welfare or unemployment have air conditioning in their house,they all have running water, and warm water, as well as heat, 60% have a video game system, 50% have not only a fridge but a freezer.....

Imagine going up to a person who was legitimately poor in the 60's, or earlier and telling them they could have all of these amenities.... They probably would have been quite happy accepting that for life, which is basically exactly what the problem is....

People these days are quite comfortable being "poor." Being "poor" in 2012 means not enough money on the Food Stamp card to go to the Keg on Friday night. So while the Gap between rich and poor is widening (which is always the fall back argument of the left) the poor are getting exponentially richer at the exact same time.... Imagine how hard a "poor" person in 1930 would laugh at a "poor" person in 2012 if you could somehow put the 2 people in a room to chat about the woes of their poverty...... This is a concept that goes right over the head of all liberals.....

King and Queens from 250 years ago would take the life of a poor person in 2012 in a heartbeat.....
 
Quote from Max E. Pad:

Wealth gap widens

Its always funny listening to hardcore leftists complain about how the wealth gap is getting wider, as though the poor in this country are somehow worse off today then they were 50 years ago.....


I saw an article the other day, and i wish I had saved it, they did a survey of people living on Welfare, or unemployment benefits, and they asked what these people OWNED...... The results were shocking it went something like this, 90% of people living on welfare or unemployment benefits have a t.v. and a computer and internet in their house, 70% of people living on welfare or unemployment have air conditioning in their house,they all have running water, and warm water, as well as heat, 60% have a video game system, 50% have not only a fridge but a freezer.....

Imagine going up to a person who was legitimately poor in the 60's, or earlier and telling them they could have all of these amenities.... They probably would have been quite happy accepting that for life, which is basically exactly what the problem is....

People these days are quite comfortable being "poor." Being "poor" in 2012 means not enough money on the Food Stamp card to go to the Keg on Friday night. So while the Gap between rich and poor is widening (which is always the fall back argument of the left) the poor are getting exponentially richer at the exact same time.... Imagine how hard a "poor" person in 1930 would laugh at a "poor" person in 2012 if you could somehow put the 2 people in a room to chat about the woes of their poverty...... This is a concept that goes right over the head of all liberals.....

King and Queens from 250 years ago would take the life of a poor person in 2012 in a heartbeat.....
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By this logic you should be VERY satisfied with what you have, as it's so much more. Yet, you're not.
 
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