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Thread: From Robert Reich on Facebook

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    Senior Member DiabloViejo's Avatar
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    From Robert Reich on Facebook

    Maybe they're starting to realize that driving customers further down the economic ladder is not good for business. Who will buy their products if no one can afford them? IMO, the growing realization comes a day late and a dollar short. A bad storm is coming.

    From Robert Reich on Facebook: (
    www.facebook.com/RBReich)

    Robert Reich: Are the privileged and powerful finally starting to get it? Former Fed chief Alan Greenspan said yesterday to the National Association of Business Economists: “I consider income inequality the most dangerous part of what’s going on in the United States. You can see the deteriorating impact of that on our current political system, and you cannot talk about politics without talking about its impact on the economy.”

    Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management Company, the biggest bond-trading firm in America, wrote in one of his recent investment letters that the share of total pretax income going to America’s top 1% more than doubled from 10% in the 1970s to 20% today, and that his wealthy clients did not “create that wave. You rode it. And now it’s time to kick out and share some of your good fortune by paying higher taxes or reforming them to favor economic growth and labor, as opposed to corporate profits and individual gazillions.”

    Is the business class beginning to understand that as long as 95% of the economy’s gains go to the top 1%, the rest of America doesn’t have the purchasing power to get the economy out of first gear? Or are they afraid that if prosperity isn’t more widely shared they'll face a political backlash against concentrated wealth, corporate power, free trade, and global capitalism?
    Like · · Share · 7 hours ago near Berkeley, CA ·




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    Amen to prayer.
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    Quote Originally Posted by DiabloViejo View Post
    Maybe they're starting to realize that driving customers further down the economic ladder is not good for business. Who will buy their products if no one can afford them? IMO, the growing realization comes a day late and a dollar short. A bad storm is coming.

    From Robert Reich on Facebook: (
    www.facebook.com/RBReich)

    Robert Reich: Are the privileged and powerful finally starting to get it? Former Fed chief Alan Greenspan said yesterday to the National Association of Business Economists: “I consider income inequality the most dangerous part of what’s going on in the United States. You can see the deteriorating impact of that on our current political system, and you cannot talk about politics without talking about its impact on the economy.”

    Bill Gross, co-founder and co-chief investment officer of Pacific Investment Management Company, the biggest bond-trading firm in America, wrote in one of his recent investment letters that the share of total pretax income going to America’s top 1% more than doubled from 10% in the 1970s to 20% today, and that his wealthy clients did not “create that wave. You rode it. And now it’s time to kick out and share some of your good fortune by paying higher taxes or reforming them to favor economic growth and labor, as opposed to corporate profits and individual gazillions.”

    Is the business class beginning to understand that as long as 95% of the economy’s gains go to the top 1%, the rest of America doesn’t have the purchasing power to get the economy out of first gear? Or are they afraid that if prosperity isn’t more widely shared they'll face a political backlash against concentrated wealth, corporate power, free trade, and global capitalism?
    Like · · Share · 7 hours ago near Berkeley, CA ·


    Which provides me with even more appreciation for your own post quote about Repiglican Voters. Right on target.

    There is no stupider creature on earth than a poor Republican. Such a person would stand in line to be sodomized and then thank their assailant afterward.

    Best one ever!

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    Greenspan iz of course an idiot.
    The No1 problem in the usofa iz overpopulation and environment and GW and climate.
    The No2 iz non-employment un-employment under-employment and ill-employment.
    Income inequality iz only a problem (or kan be a problem) if u hav a shite-system, which u hav. In that case u kan make it (the shite system) No3. In other words, inequality aint a problem if employment aint a problem. In other words there shoodnt be any need for a minimum wage. But, if u hav a shite system, which u hav, then a minimum wage would help peeple a bit.

    But what it all meens iz that the No1 problem iz aktually ignorance, ie lack of knowledge (and lack of logik), eg krappynomix, eg superstition, eg selfishness.
    mac.
    Last edited by cushioncrawler; 02-28-2014 at 03:03 PM.

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    Quote Originally Posted by cushioncrawler View Post
    Greenspan iz of course an idiot.
    The No1 problem in the usofa iz overpopulation exacerbated by failed Republican Policies
    and environment and GW and climate. also exacerbated by failed Republican policies!
    The No2 iz non-employment un-employment under-employment and ill-employment.Again, caused by failed Republican Economic Policies


    Income inequality iz only a problem (or kan be a problem) if u hav a shite-system, which u hav. In that case u kan make it (the shite system) No3. In other words, inequality aint a problem if employment aint a problem. In other words there shoodnt be any need for a minimum wage. But, if u hav a shite system, which u hav, then a minimum wage would help peeple a bit.

    Gross Economic Income Inequality is always a problem, and is a critical problem all over the world. Greed and corruption are the cause. I would assume your country is also suffering from the same problem, unless you think that Oz isn't like other countries? No greed? No corruption? Pahleeze!

    But what it all meens iz that the No1 problem iz aktually ignorance, ie lack of knowledge (and lack of logik), eg krappynomix, eg superstition, eg selfishness.
    mac.
    All three go hand in hand with greed and corruption.

    I might add that the poorest, hungriest cornor of the U.S. is now suffering from a population explosion. Thousands of babies being born, because Republicans have closed down Planned Parenthood Centers, in that state, and in Georgia, their Right Wing jerk Republican refusing to sign up for the Affordable Care Act, while all of the hospitals in rural areas of Georgia are closing down, so his solution is to reverse that socialist Ronald Reagan's Federal Law that hospitals cannot turn people away from emergency rooms, for any reason. IOW, his solution is to let people die when they are too poor to have health insurance.

    Again, every single problem the U.S. faces today, is a result of failed Republican Policies, foreign, domestic and economic. In that sense, you are right about ignorance being a main cause of our problems here and I might add, that is true all over the world, except for dictatorships, where the people have no vote, which is also why Republicans are constantly blocking American Citizens from their right to vote, thanks to the Republican Majority on the Supreme Court, the worst rats in the country, by far.

    R oberts
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    It iz the same shite system all over -- ozz, uk, nz, Canada, theusofa -- the same krappynomix everywhere.
    In fakt ozz uk nz Canada hav GOP's in full power at prezent -- at least theusofa only haz gridlock (GOP in half power), not az bad.

    Income inequality iznt a problem anywhere. What iz a problem (or kan be) iz poverty.
    For example -- take a country where everyone iz in poverty (= zero inequality).
    For example -- take a country where the top 1% own 90%, but the bottom 1% hav zero poverty (= gross inequality).
    mac.

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    Quote Originally Posted by cushioncrawler View Post
    It iz the same shite system all over -- ozz, uk, nz, Canada, theusofa -- the same krappynomix everywhere.
    In fakt ozz uk nz Canada hav GOP's in full power at prezent -- at least theusofa only haz gridlock (GOP in half power), not az bad.

    Income inequality iznt a problem anywhere. What iz a problem (or kan be) iz poverty.
    Poverty is a direct consequence of income inequality. All nations suffer when the wealthy top and their greed and corruption, hoardes their money in order to buy the politicians they want so that they can pollute, practice disgraceful fraud in the markets, and refuse to pay their employees a decent living wage.

    For example -- take a country where everyone iz in poverty (= zero inequality).

    OMG, how can you poossibly believe that Mac? That represents the ultimate economic inequality.


    For example -- take a country where the top 1% own 90%, but the bottom 1% hav zero poverty (= gross inequality).
    mac.
    Doesn't this statement contradict the one you wrote above it?

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    Gayle. No I dont think I contradicted myself. What I sayd woz that inequality iznt a problem, but poverty iz a problem.

    Inequality iz a problem if poorer peeple envy richer peeple. But being poorer duznt necessaryly mean being poor, nor being in poverty -- everyone might be rich, with some rich envying the richer.

    But of course it all depends on what one meens by the word poverty.
    My meening of living in poverty iz that u havnt enuff money etc to afford the essentials, ie to afford some sort of reasonable amount of food and education etc etc.

    Some definitions of poverty might inklood an allowance for inequality pure and simple. But this would inklood a jealousy factor, ie an envy factor, surely a different thing. If so then the only solution to poverty would be communizm. And even then that would not be enuff, koz az Abe sayd, most foke are az happy az they want to be.
    mac.
    http://lsr.nellco.org/cgi/viewconten...ntext=nyu_lewp

    http://www.nber.org/feldstein/pi99.html
    Last edited by cushioncrawler; 03-03-2014 at 04:33 PM.

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    Quote Originally Posted by cushioncrawler View Post
    Gayle. No I dont think I contradicted myself. What I sayd woz that inequality iznt a problem, but poverty iz a problem.

    Inequality iz a problem if poorer peeple envy richer peeple. But being poorer duznt necessaryly mean being poor, nor being in poverty -- everyone might be rich, with some rich envying the richer.

    But of course it all depends on what one meens by the word poverty.
    My meening of living in poverty iz that u havnt enuff money etc to afford the essentials, ie to afford some sort of reasonable amount of food and education etc etc.

    Some definitions of poverty might inklood an allowance for inequality pure and simple. But this would inklood a jealousy factor, ie an envy factor, surely a different thing. If so then the only solution to poverty would be communizm. And even then that would not be enuff, koz az Abe sayd, most foke are az happy az they want to be.
    mac.
    http://lsr.nellco.org/cgi/viewconten...ntext=nyu_lewp

    http://www.nber.org/feldstein/pi99.html
    People who cannot work forty hours a week and still feed and cloth and educate their children, aren't suffering from jealosy.

    If there is no minimum wage, there is also no power for maintaining a country with a healthy economy, just as no Unions means no decent working conditions.

    Republicans are not happy unless they are wasting our money on wars to enrich their corporate cronies. They don't give a hoot about the poor, the hungry, the ill, the old, or Global Warming, they only thing Republicans care about is staying on the good side of the polluting pigs, and the corporate crooks.

    Poverty is a result of too much money in too few hands, the breeding ground for dictatorships. Democracy is the best form of government in the world, BTW, but it can't survive when there is too much wealth in too few hands, because with too much money, comes too much power. Fascism is when corporate pigs, buy government, and Republilcans are all about blocking the poor and the hungry from the voting booth.

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    Quote Originally Posted by cushioncrawler View Post
    Gayle. No I dont think I contradicted myself. What I sayd woz that inequality iznt a problem, but poverty iz a problem.

    Inequality iz a problem if poorer peeple envy richer peeple. But being poorer duznt necessaryly mean being poor, nor being in poverty -- everyone might be rich, with some rich envying the richer.

    Inequality and poverty go hand in hand. Envy has nothing at all to fo with it!

    But of course it all depends on what one meens by the word poverty. I think most people know what the word poverty means, and again, envy has nothing at all to do with it.
    My meening of living in poverty iz that u havnt enuff money etc to afford the essentials, ie to afford some sort of reasonable amount of food and education etc etc.

    Some definitions of poverty might inklood an allowance for inequality pure and simple. But this would inklood a jealousy factor, ie an envy factor, surely a different thing. If so then the only solution to poverty would be communizm. And even then that would not be enuff, koz az Abe sayd, most foke are az happy az they want to be.
    mac. WOW Mac, those are some incredibly simplistic statements. Communism solves poverty? LOL. You think happiness is a choice for people when they're hungry and cold? Jealousy shouldn't even be a part of the discussion when one is addressing poverty, a word that does have a definition, and shouldn't be bastardized with a boatload of simplistic BS, IMPO.
    http://lsr.nellco.org/cgi/viewconten...ntext=nyu_lewp

    http://www.nber.org/feldstein/pi99.html

    The wealthy top across the world, by and large, with few exceptions, is the whole problem, including their ridiculous denial of Global Warming, their continuing pollution of the environment, hunger, slavery, poverty, and loss of freedom for the masses, all of it caused by greed, too much money in too few hands, and the result is always the same, poverty and suffering.

    It is not the wealth itself, but the greed and corruption of the wealthy, destroying life, liberty and the pursuit of happiness for all. Laws become weakened, and carnage thrives, when there is too much money in too few hands.


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