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re: For first time ever, 1% own more wealth than entire middle class

Posted on 10/18/21 at 6:51 pm to
Posted by oklahogjr
Gold Membership
Member since Jan 2010
40237 posts
Posted on 10/18/21 at 6:51 pm to
quote:

The problem isnt the 1%

It is the 0.001%

The oligarchs that control everything


This.
Posted by HonoraryCoonass
Member since Jan 2005
19755 posts
Posted on 10/18/21 at 6:52 pm to
quote:

Stop buying mink coats and rims. Stop eating out every meal. Stop the jewelry and the Xbox live premium.


Have you stopped to think who is selling minks and rims, and who works at restaurants?
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
72972 posts
Posted on 10/18/21 at 6:53 pm to
You are absolutely INSANE if you don’t think people are buying more shite than they used to.

It adds up.

Period.

Posted by Jbird
In Bidenville with EthanL
Member since Oct 2012
83004 posts
Posted on 10/18/21 at 6:54 pm to
Gosh does that count the fricks that moved into the Forbes 400 over the jab?
Posted by HubbaBubba
North of DFW, TX
Member since Oct 2010
50681 posts
Posted on 10/18/21 at 6:55 pm to
In the meantime, middle class has 4k TV's, $1200 cell phones, $250 sneakers, designer clothing and gets paid to not work.
Posted by Tigers2010a
Member since Jul 2021
3627 posts
Posted on 10/18/21 at 6:55 pm to
quote:

Velocity is not impeded by “wealth” ownership. These clowns can own 100 yachts and my life is not changed.


Democracy can't survive when the oligarchs use their money to subvert democracy. They buy politicians and the laws while megalomaniac oligarchs simply decide they want to destroy democracy and replace it with a globalist new world order. The oligarchs have to be broken just as much as the radical left has to be broken. Breaking the oligarchs means confiscating their money while throwing some in prison.
This post was edited on 10/18/21 at 7:00 pm
Posted by CGSC Lobotomy
Member since Sep 2011
81611 posts
Posted on 10/18/21 at 6:57 pm to
quote:

frick you for being disrespectful


You have done nothing to earn respect.
Posted by auggie
Opelika, Alabama
Member since Aug 2013
30780 posts
Posted on 10/18/21 at 6:59 pm to
quote:

quote:Velocity is not impeded by “wealth” ownership. These clowns can own 100 yachts and my life is not changed. Democracy can't survive when the oligarchs use their money to subvert democracy. They buy politicians and the laws while megalomaniac oligarchs simply decide they want to destroy democracy and replace it with a globalist new world order. The oligarchs have to be broken just as much as the radical left has to be broken. Braking the oligarchs means confiscating their money while throwing some in jail.

Somehow you replied to me, but you quoted somebody else. That's weird.
Posted by HailHailtoMichigan!
Mission Viejo, CA
Member since Mar 2012
72972 posts
Posted on 10/18/21 at 6:59 pm to
Says the poster who LIES about my voting history.

You are an inexpressibly sad specimen
Posted by Bamafan24
Huntsville
Member since Oct 2014
8859 posts
Posted on 10/18/21 at 7:04 pm to
When you left top 1% stay open and close all middle class businesses, this will happen rather quickly.
Posted by Jbird
In Bidenville with EthanL
Member since Oct 2012
83004 posts
Posted on 10/18/21 at 7:10 pm to
How much of your wealth can we extract?
Posted by Friedbrie
Abita Springs
Member since Jun 2018
1609 posts
Posted on 10/18/21 at 7:19 pm to
Here's your answer, bud.

LINK
quote:

Pumping trillions of dollars into corporate credit and even high-yield debt will further distort markets already shaped by a decade of easy-money policies. This is no abstract concern. The result will be an acceleration of two economywide transfers of wealth: from the middle class to the affluent and from the cautious to the reckless.
The transfer from the middle class to the wealthy continues a trend begun in the wake of the 2007-09 financial crisis. Like the Fed’s combination of depressed interest rates and quantitative-easing government debt purchases, the new intervention will funnel trillions of dollars toward financial markets and the corporations able to participate in them.



and from 2012

LINK

quote:

The Federal Reserve is a wealth transfer machine, skimming wealth from the productive many and transferring it to the parasitic few.

Today I launch a series entitled "The Rot Runs Deep" that examines the moral and financial rot at the core of American finance, politics and culture. We have reached a unique junction of American history: the confluence of Big Lie propaganda, neofeudalism and the worship of false financial gods.




Had to work a little to find some examples, considering the first 20 links to come up after a search were from the federal reserves website.
Posted by Bulldogblitz
In my house
Member since Dec 2018
28155 posts
Posted on 10/18/21 at 7:20 pm to
This is what you guys want pushing Marxism. Shrinkage of the middle class.
Posted by Smeg
Member since Aug 2018
14234 posts
Posted on 10/18/21 at 7:22 pm to
quote:

Stop buying mink coats

What percentage of the population do you believe owns mink coats?
Posted by Bulldogblitz
In my house
Member since Dec 2018
28155 posts
Posted on 10/18/21 at 7:22 pm to
quote:

What percentage of the population do you believe owns mink coats?


Most of his family.
Posted by The Goon
Baton Rouge, LA
Member since Nov 2008
1334 posts
Posted on 10/18/21 at 7:23 pm to
quote:

Democracy can't survive when the oligarchs use their money to subvert democracy. They buy politicians and the laws while megalomaniac oligarchs simply decide they want to destroy democracy and replace it with a globalist new world order. The oligarchs have to be broken just as much as the radical left has to be broken. Breaking the oligarchs means confiscating their money while throwing some in prison.


Wealth inequality and a corruptible federal government are two very different items. We need a no faith amendment and complete purge of all elected officials when shite gets out of control.

This post was edited on 10/18/21 at 7:24 pm
Posted by hottub
Member since Dec 2012
3650 posts
Posted on 10/18/21 at 7:23 pm to
Late 1800’s was the pinnacle of “income disparity”.
Posted by David_DJS
Member since Aug 2005
21744 posts
Posted on 10/18/21 at 7:25 pm to
quote:

Late 1800’s was the pinnacle of “income disparity”

Are you making an argument that income disparity doesn't matter, or that it matters? It's not clear from your post.

And a technical point, the OP isn't about income.
Posted by jmcwhrter
Member since Nov 2012
7595 posts
Posted on 10/18/21 at 7:27 pm to
quote:

No, the answer is stop the ridiculous consumerism.

Stop buying mink coats and rims. Stop eating out every meal. Stop the jewelry and the Xbox live premium.

Invest instead. Save and invest


Lol wtf are you talking about

Gas is $3+ a gallon

A decent car now costs $400-500 a month, and that's if you finance it several years beyond the typical manufacturer warranty

Small appliances, large appliances, TVs, phones, etc are all designed to fall apart in 2-3 years...

Sure, people spend money on stupid stuff like rims, but even fiscally responsible families are getting absolutely reamed with the current prices of pretty much everything
Posted by NIH
Member since Aug 2008
119357 posts
Posted on 10/18/21 at 7:34 pm to
Simps like OP are still brainwashed to demonize and blame their neighbors for the shite state of this country
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