Federal Reserve chair calls income inequality the biggest challenge in next 10 years

Feb 2019
316
76
Florida
#21
You are totally brainwashed, good for you. You didnt bother to listen to Greenspan explaining that trickle down didn't work, did you? You are too fanatic for my taste, welcome to my ignore list, with a couple other brain dead right wing hacks.
Nope. I'm just better educated than you.
(Folks, ever notice that every time a liberal loses an argument, he/she/it trots out that tired old bullshit adjective "brainwashed?" Pathetic, huh?)
 
Dec 2018
2,327
851
Florida
#22
So basically, anything more than a dollar per year is acceptable to you, because it is still better than Somalia? Hardly a ringing endorsement for your ideology...
No. His point is that income inequality is a pointless metric. You can give everyone equality. But that doesn’t mean it won’t be equality in poverty. There are nations that you wouldn’t live in that score better than the United States on thst chart of income inequality.
 

Devil505

Former Staff
Jan 2008
68,937
27,684
Florida
#25
Nope. I'm just better educated than you.
No....you're just brainwashed which is the opposite of educated.

(Folks, ever notice that every time a liberal loses an argument, he/she/it trots out that tired old bullshit adjective "brainwashed?" Pathetic, huh?)
Every time a Righty enters an argument...he/she loses that argument.
 
Likes: OldGaffer
Dec 2018
2,327
851
Florida
#26
But it is not pointless.
Sure it is. If you make $200,000 a year? What do you care if your neighbor makes $200,000,000? How does that hurt you? It doesn’t. As a nation? Why bother measuring “income inequality” rather than economic mobility or quality of life of the lower classes? Access to long term stable employment options? Affordable housing? Vacation time? Off time? Disposable income? Ability to save?

Those seems FAR more important than how rich someone else is. As far as I am concerned? I’d like to be able to afford a new truck, a nice place to live, and to be able to take time off work to do fun stuff. Pursue my hobbies. What do I give a shit if bill gates can go buy a bunch of Lamborghinis and use them as bumper cars? I’m never going to be that rich. Period. :shrug:
 

Babba

Former Staff
Jul 2007
73,685
63,189
So. Md.
#27
Sure it is. If you make $200,000 a year? What do you care if your neighbor makes $200,000,000? How does that hurt you? It doesn’t. As a nation? Why bother measuring “income inequality” rather than economic mobility or quality of life of the lower classes? Access to long term stable employment options? Affordable housing? Vacation time? Off time? Disposable income? Ability to save?

Those seems FAR more important than how rich someone else is. As far as I am concerned? I’d like to be able to afford a new truck, a nice place to live, and to be able to take time off work to do fun stuff. Pursue my hobbies. What do I give a shit if bill gates can go buy a bunch of Lamborghinis and use them as bumper cars? I’m never going to be that rich. Period. :shrug:
The reason excessive income inequality is bad is because it means that the powerful are able to purchase our government, which is happening as we speak (especially since money was declared speech and then Citizens United came along). Also, money in an economy is like blood in a body. It's bad if blood accumulates in one area of the body and other areas aren't getting enough. That is also happening as we speak. Only certain sectors of our economy are doing well. So, excessive income inequality is bad for our form of government and also for our economic system. You can't have a viable capitalist economy if only the wealthy are doing the buying. They can't buy enough products or services to maintain a healthy economy.
 
Jul 2013
51,557
54,819
Nashville, TN
#28
Sure it is. If you make $200,000 a year? What do you care if your neighbor makes $200,000,000? How does that hurt you? It doesn’t. As a nation? Why bother measuring “income inequality” rather than economic mobility or quality of life of the lower classes? Access to long term stable employment options? Affordable housing? Vacation time? Off time? Disposable income? Ability to save?

Those seems FAR more important than how rich someone else is. As far as I am concerned? I’d like to be able to afford a new truck, a nice place to live, and to be able to take time off work to do fun stuff. Pursue my hobbies. What do I give a shit if bill gates can go buy a bunch of Lamborghinis and use them as bumper cars? I’m never going to be that rich. Period. :shrug:
If you check the OECD countries you will find that almost all of them have better economic mobility than the US, that did not use to be the case. What changed? Supply side economics has destroyed the mobility of the working and middle class in this country. A failed ideology that keeps getting tried, and tried, and tried, always failing, always hurting the economy in the long term.
 

Babba

Former Staff
Jul 2007
73,685
63,189
So. Md.
#29
If you check the OECD countries you will find that almost all of them have better economic mobility than the US, that did not use to be the case. What changed? Supply side economics has destroyed the mobility of the working and middle class in this country. A failed ideology that keeps getting tried, and tried, and tried, always failing, always hurting the economy in the long term.
Exactly. We keep trying the same thing over and over with worsening results.
 
Likes: OldGaffer
Sep 2012
3,611
3,477
California
#30
Excuse me? Greenspan wound up being appointed Fed Chairman.

You REALLY need to clean the shit from between your ears and open that mind. Rand was one of the more brilliant writers and economists of her time. The fact that you disagree with her in no way suggests her philosophy nor her followers in any way resembled a cult.

Greenspan wasn't the only world class economist to correctly define the cause of the Great Depression. Other economists included Nobel Laureate (back when the Nobel Prize was actually worth the paper it was printed on) Dr. Milton Friedman, Friedrich Hayek, Ludwig Von Mises, just to name a few.
Ayn was no economist. If she was anything, she was a philosopher. No one takes her seriously, she is someone you read as a teen or college student and then dismiss once you grow up.
 

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