I don't really disagree with you there. I highlighted 'poverty' here but many are on permanent govt programs so they can get by. Some abuse the system horribly. And I think those in the middle class pay for it since they are too 'rich' to be in 'poverty' and get the benefits of the programs for those on the bottom.
Many people say the govt programs dissuade the poor from ever reaching for more. I agree to some point. Much more corrosive is what is happening to the middle class. They see if they just give up and go into 'poverty' they can do better by gaming the system, than if they struggle as working poor or working 'middle class' - much less work, much less stress - so why bother with trying to patch together a working poor life in America? The top end and the bottom end get all the benefits - why strive to be in the middle anymore? This is the really dangerous path.
I mentioned your region to John Galt. I hope he goes visits, or at least watches Dateline. Than again as long as you can buy 2 liters of pop or some cigs you really aren't in poverty per what many believe.
Apparently you must be starving and die on the street or its not "real poverty".
Again, let's run a social experiment so we see what the true poverty is in this nation. Let's end the food stamp program for 6 months. Heck 12 months. Let's see what happens as the 'free market' takes over.
Amazing what going from a 2 income household from 1 does change. Most household incomes rose 70-80%. (women usually not paid as well as men, hence they did not rise by 100%)
The problem now is that cookie is over and done with. The % of women working has now surpassed men since this man-cession has decimated construction jobs and the like. So now we have exhausted finding an extra worker in the household over the past 30 years, and exhausted the credit binge. So all we have left now is the government ATM (1 in 5.5 dollars of average american's income now comes from transfer payment) and we'll keep that ponzi going for a decade or two or until we have a $20, $30, $50T deficit and at a point we have a currency crisis. Then I guess we really won't have any more options.
Please don't compare the U.S. to Germany. It will drive Tony and John Galt crazy.
In truth, German wages have stagnated the past decade. This was a sacrifice by the people to keep manufacturing in the country. In return, the corporations (they have globally competitive multinationals just like we do - indeed they were the largest merchandise in the world until 2 years ago when China passed them) were willing to work with government to sacrifice some portion of profits (that does not mean they turned into non profits) to keep work in Germany. In return the government decided to pitch in and help buffet the recession with subsidies via work sharing (people remain on the job at reduced hours but instead of sitting home watching Jerry Springer and receiving UI checks, they keep their jobs, keep their skills and govt pays a subsidy so companies can afford to keep them)
This required buy in from corporations, workers, and government. The corporate boards of Germany companies have union reps sitting on them. Hence the companies are run for the good of "all". Somehow the corporations thrive even with unions in them and not driving everyone to minimum wage - the horror of it all. They are profitable just not "quite" so profitable as U.S. companies. But this would be anathema in the U.S. as you must squeeze every last dime out of every person and if you cannot, you move their job overseas. The only sign of success is maximizing profits - its just a shame there is any regulation or profits could be even higher. Granted we'd have red colored lakes and rivers as we had in the 70s but again, corporate profits are the ultimate sign of national success. Ignore the failing K-12 system, 2nd world infrastructure, and such.
So what's the best model? As an owner of capital the U.S. - as a worker, probably Germany. In the U.S. the capital owners owns the political process so this is what we have. In Germany, the consumer/worker has a lot more input in the political process. You see the difference in results. I am not making an opinion, I am stating things that are obvious. Anyone who retorts with stuff like we have free markets which are directing our corporations or economy is living in an ivory tower. Our system is corporate socialism. The only thing I see capitalistic are small restaurant owners, some small businesses who fight amongst each other without federal subsidies, and Ebay.
And yes as a stock speculator I "love" the US system - anything that gives almost all profits to the CEO class, and the shareholder while taking it from the wages and pensions and 401k plans of the worker is "Great". Indeed as a stock speculator I can only home all workers lose their jobs as they are overpaid compared to what I can get in India or China. (except the CEO and other C-level executives who of course must stay only in American hands) This would be capitalism made perfect. :) Having any Americans working is only a drag on my profits as a shareholder and I demand we end this era of American workers alltogether.
Did not realize Canada, Japan, and Australia were in Europe.
I did not say there was not poverty in Europe. I said the poverty in those type of countries would be equivalent to U.S. If you don't believe it go to Appalachia.
Obama on raising the debt ceiling: Then ("Increasing America’s debt weakens us domestically and internationally.") and now ("If we hit the debt ceiling, that's essentially defaulting on our obligations which is totally unprecedented in American history," economic adviser Austan Goolsbee says.).[View news story]
Right but now the GOP is saying they cannot even find $100B to cut. They have reneged on day 1.
And now they can pass tax cuts without "paying for them" because of course "they pay for themselves". As shown by the deficit the past 30 years.
PIMCO's Bill Gross's January 2011 Letter: Off With Our Heads [View article]
Thankfully all the credit agencies are American. So no conflicts of interest or anything. Plus they did a rocking good job forecasting the housing crisis.
PIMCO's Bill Gross's January 2011 Letter: Off With Our Heads [View article]
Remember, labor only reduces corporate profits. We can't have labor participating in prosperity... it's anti capitalist. Just ask Henry Ford circa 1930s. Err...
World Food Prices Rise: Get Ready for the Riots? [View article]
lol.
It's a bifurcated U.S. economy - not worst of days for the top end. Think Tale of 2 cities. Remember, Ben is making everyone with an Etrade account rich!
Perhaps Red Cross can drop Etrade brokerage kits down from helicopters in the poorer countries to help them offset the price increases. As long as they all buy Netflix they should be fine!
1 in 6 Americans Live in Poverty [View article]
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1 in 6 Americans Live in Poverty [View article]
If they are paid 50% the wage, 70% the wage, or 100% the wage is immaterial. It's a huge change from the 1 income that used to be there.
1 in 6 Americans Live in Poverty [View article]
1 in 6 Americans Live in Poverty [View article]
Many people say the govt programs dissuade the poor from ever reaching for more. I agree to some point. Much more corrosive is what is happening to the middle class. They see if they just give up and go into 'poverty' they can do better by gaming the system, than if they struggle as working poor or working 'middle class' - much less work, much less stress - so why bother with trying to patch together a working poor life in America? The top end and the bottom end get all the benefits - why strive to be in the middle anymore? This is the really dangerous path.
1 in 6 Americans Live in Poverty [View article]
Apparently you must be starving and die on the street or its not "real poverty".
Again, let's run a social experiment so we see what the true poverty is in this nation. Let's end the food stamp program for 6 months. Heck 12 months. Let's see what happens as the 'free market' takes over.
1 in 6 Americans Live in Poverty [View article]
1 in 6 Americans Live in Poverty [View article]
Amazing what going from a 2 income household from 1 does change. Most household incomes rose 70-80%. (women usually not paid as well as men, hence they did not rise by 100%)
The problem now is that cookie is over and done with. The % of women working has now surpassed men since this man-cession has decimated construction jobs and the like. So now we have exhausted finding an extra worker in the household over the past 30 years, and exhausted the credit binge. So all we have left now is the government ATM (1 in 5.5 dollars of average american's income now comes from transfer payment) and we'll keep that ponzi going for a decade or two or until we have a $20, $30, $50T deficit and at a point we have a currency crisis. Then I guess we really won't have any more options.
1 in 6 Americans Live in Poverty [View article]
In truth, German wages have stagnated the past decade. This was a sacrifice by the people to keep manufacturing in the country. In return, the corporations (they have globally competitive multinationals just like we do - indeed they were the largest merchandise in the world until 2 years ago when China passed them) were willing to work with government to sacrifice some portion of profits (that does not mean they turned into non profits) to keep work in Germany. In return the government decided to pitch in and help buffet the recession with subsidies via work sharing (people remain on the job at reduced hours but instead of sitting home watching Jerry Springer and receiving UI checks, they keep their jobs, keep their skills and govt pays a subsidy so companies can afford to keep them)
This required buy in from corporations, workers, and government. The corporate boards of Germany companies have union reps sitting on them. Hence the companies are run for the good of "all". Somehow the corporations thrive even with unions in them and not driving everyone to minimum wage - the horror of it all. They are profitable just not "quite" so profitable as U.S. companies. But this would be anathema in the U.S. as you must squeeze every last dime out of every person and if you cannot, you move their job overseas. The only sign of success is maximizing profits - its just a shame there is any regulation or profits could be even higher. Granted we'd have red colored lakes and rivers as we had in the 70s but again, corporate profits are the ultimate sign of national success. Ignore the failing K-12 system, 2nd world infrastructure, and such.
So what's the best model? As an owner of capital the U.S. - as a worker, probably Germany. In the U.S. the capital owners owns the political process so this is what we have. In Germany, the consumer/worker has a lot more input in the political process. You see the difference in results. I am not making an opinion, I am stating things that are obvious. Anyone who retorts with stuff like we have free markets which are directing our corporations or economy is living in an ivory tower. Our system is corporate socialism. The only thing I see capitalistic are small restaurant owners, some small businesses who fight amongst each other without federal subsidies, and Ebay.
And yes as a stock speculator I "love" the US system - anything that gives almost all profits to the CEO class, and the shareholder while taking it from the wages and pensions and 401k plans of the worker is "Great". Indeed as a stock speculator I can only home all workers lose their jobs as they are overpaid compared to what I can get in India or China. (except the CEO and other C-level executives who of course must stay only in American hands) This would be capitalism made perfect. :) Having any Americans working is only a drag on my profits as a shareholder and I demand we end this era of American workers alltogether.
1 in 6 Americans Live in Poverty [View article]
I did not say there was not poverty in Europe. I said the poverty in those type of countries would be equivalent to U.S. If you don't believe it go to Appalachia.
1 in 6 Americans Live in Poverty [View article]
If your answer is Germany, Japan, Canada, Australia, Britain, Denmark, Holland, France, Italy, or the like I'd love to see evidence.
If you want to throw in a country with huge amounts of poverty ala India I'd ask you to compare our GDP to them, and ask you to raise your goals.
Obama on raising the debt ceiling: Then ("Increasing America’s debt weakens us domestically and internationally.") and now ("If we hit the debt ceiling, that's essentially defaulting on our obligations which is totally unprecedented in American history," economic adviser Austan Goolsbee says.). [View news story]
And now they can pass tax cuts without "paying for them" because of course "they pay for themselves". As shown by the deficit the past 30 years.
PIMCO's Bill Gross's January 2011 Letter: Off With Our Heads [View article]
PIMCO's Bill Gross's January 2011 Letter: Off With Our Heads [View article]
World Food Prices Rise: Get Ready for the Riots? [View article]
It's a bifurcated U.S. economy - not worst of days for the top end. Think Tale of 2 cities. Remember, Ben is making everyone with an Etrade account rich!
Perhaps Red Cross can drop Etrade brokerage kits down from helicopters in the poorer countries to help them offset the price increases. As long as they all buy Netflix they should be fine!
Mosaic: Back in the Saddle [View article]
I like the stock long term but am currently not long or short anything as I am in SEC registration for fund launch.
Original piece
www.fundmymutualfund.c...