Interesting thread on inequality
- Thread starter snarlcakes
- Start date
Huge end of life Boomer #'s paying for decades, then gaining from the covid megaflation to fight trump , vrs the youngsters that the swamp have brainwashed into be servants... Isn't that what that is? Kinda makes sense. Right?
His ancient historical analysis is weird. He says Babylon and Sumer were so wise about how wages stayed stagnant during times of peace that they had "regular" debt relief.
They did have city wide debt relief. But that debt relief was going to peasant farmers, who weren't being paid wages. And the relief was generally in relation to random (not regular) bad crops or drought, not a recognition that "wealth grew faster than wages in times of peace" (I wonder if anyone was even paid wages in those societies).
Also, he says
"After 50 years or so, inequalities feed populism and anti-social behaviors because the young and the poor feel that the system is rigged against them (and it is)Asa result, deficits and military spending increase, which further increases inflation."
I don't understand the link between his first sentence and "military spending increase." Our current populist movement, for example, doesn't seem to want to increase military spending, does it?
They did have city wide debt relief. But that debt relief was going to peasant farmers, who weren't being paid wages. And the relief was generally in relation to random (not regular) bad crops or drought, not a recognition that "wealth grew faster than wages in times of peace" (I wonder if anyone was even paid wages in those societies).
Also, he says
"After 50 years or so, inequalities feed populism and anti-social behaviors because the young and the poor feel that the system is rigged against them (and it is)Asa result, deficits and military spending increase, which further increases inflation."
I don't understand the link between his first sentence and "military spending increase
Yeah, on some level. I’m honestly still trying to wrap my ahead around it. My best explanation (I’ve been drinking so it might be nonsense). The problem we’re running into is assets are increasing much faster than wages and it’s causing a lot of the issues. An extreme example of it was houses during Covid. Wages have increased a good amount, but they didn’t outpace assets like housing. So wager earners got screwed again and those with assets and capital won again.
Boomers have just been fortunate enough to be alive at the right time to benefit the most from the system. They’ve already paid for their education, house(s) , and stocks when they were much cheaper and benefit from them outpacing wages. They get their plumbing, deck, and vacations cheaper because their assets grew faster than the wages.
It confused me as well. Maybe debt was arranged differently in ancient times? They didn’t have fiat currencies. I need to think about it.
The movement might be against it, but not the government. Military spending has been increasing the past 6+ years.
I honestly don’t have any ill will towards Boomers. They just got lucky. Don’t tell JDB, I love it when he goes off on them 🤣So this is another "Boomers are evil" thread?
Boomer generation as a whole did benefit from a very unique time in human history. Something that is out of the ordinary and isn't likely to be repeated. Many reasons for that but that's for another longer discussion.
But most of that wealth creation was concentrated in people who owned assets. Didn't really matter what assets. US Treasury bonds made you an amazing return from 1980 to 2010, a return very comparable to the stock market. And then you also had a great return in real estate, because it is an asset class that performs similar to bonds. The stock market has performed really well for 40 years, something well above the very long term tend. So it didn't really matter what assets you bought you had really attractive investment returns.
But most all of that wealth accrued into the top 20% and certainly the top 40-50%.
As to your chart, that's just the reality of people living longer and compounding asset return.
Fiat money has existed for over 1000 years. China started issuing it in roughly 1000AD.
First of all. Due to an unfortunate boat deal gone wrong ... I started drinking before you did, I'm pretty sure, because I think you make total sense here.
FYI, there was NO coke in the deal... Just wanted to get that out there, in the open.
Pre Covid terms... The shit that I already owned, that "should" have been worth $95k - $120k.... (to be brutally honest) suddenly appraised for $290k.
It was all about free cheese, and people getting $400 (example) buyden $$'s and went totally effing stupid.
Those who where holding assets.. UMMMM those who have been working and building for 30 EFFing years... kinda, YA KNOW, made out... Thanks Joe... Those who bitch because water runs from behind their ears 24/7.... Sorry kid, lets talk in 30 years when you've paid your dues........ and the next ignorant dem policy make everyone wealthy except the ones they are trying to buy vote from..
You will get yours... It'll just take 30 yrs... Ain't socialism great kids...
In some ways, because I am an extremely young boomer, the Dem agenda made me 1/2 million dollars. But only because I was always extremely personally conservative, learned how to build pergolas and paid cash for them.
They shut the world down, to stop trump, and paid me 1/2 mill to be pissed about it and see their agenda and POWER !! ! !
Just spit ballin some ideas, of course.
All of what you've said is correct. The govt's Covid response was massive.
There was basically a decision made across the board in govt (Trump and Biden) that the response in 2008 wasn't robust enough. That the recession and related job losses, forecloses and the financial contagion from that was more harmful to society than inflation risk.
So they went out guns blazing both fiscally and momentarily. We were much more aggressive than the Europeans were, for example. The Fed Reserve put in policies within like a week that took them to months to even conceive of in the summer and fall of 2008. They just dusted off the playbook and then juiced it up from there.
The argument is society can handle inflation better than they can 10% unemployment and a 'hard' recession.
Anyway, made a lot of money for asset holders.
As I just decided and am thoroughly enjoying... I am remarkably drunk.
All of the wealth that their over stimulus did for my spread sheet... I'll never use (I simply don't need it). It will totally transfer to the next generation.
Just in my very small teeny tiny, grown up soybean farm kid from Indiana world, Dems (swamp actually) made my next generation rich, fighting against wealth transfer. All I had to do was, work, save, do my best to make more.
Thanks buyden??? right?
So what are you ever bitching about? You have too much money?
And don't mean to insult you... But you've turned into one of fav posters here. I enjoy your authenticity of thought and humor.... Such as it may be.
Liberal policy for politicaldemology purposes that have total "unexpected" consequences that totally benefit their enemy and stated purposes.
Can I not love, profiting from idiots that vote for these people and tell me I am the scum of man kind?
For me depends upon the policy you are talking about. I don't really have any serious issue with Biden economic policy. We were going to face the same inflationary outcomes regardless who won in 2020. Biden policies probably exacerbated it but it would have been within a point no matter what. I know that based upon the same inflationary data worldwide. And that Trump wanted to spend hard too.
There are other policies outside of the money stuff that are an issue for me.
Reaction score bitch !! hahhahaha .. Sorry I just remember Murty saying that a while ago...
To be honest, like totally honest... 4-5 years ago that I had the balls to come to the cooler. Yes, you all are kinda like that A team. I had an interface with someone, and it downed on me that I have always stayed in a shell, for 3-4 yrs until I really "understand all of the kids on the beach".
No matter what social circles... It's repeated time and time again.. Here, it started as a totally internal observation for the very first time. Thinking backwards.... IT's always been that way.
Basically now that I am self aware, I own this motherfvcker !!! Orrrr something kinda like that... or not.
Probably not when I wake up later TODAY ... if I do.
Reaction score bitch !! hahhahaha .. Sorry I just remember Murty saying that a while ago...
To be honest, like totally honest... 4-5 years ago that I had the balls to come to the cooler. Yes, you all are kinda like that A team. I had an interface with someone, and it downed on me that I have always stayed in a shell, for 3-4 yrs until I really "understand all of the kids on the beach".
No matter what social circles... It's repeated time and time again.. Here, it started as a totally internal observation for the very first time. Thinking backwards.... IT's always been that way.
Basically now that I am self aware, I own this motherfvcker !!! Orrrr something kinda like that... or not.
I think we've all been there.
Not much there that I can disagree with. Maybe a few tweeks... minor though. ..
But, I'm going to bed. Peace and love to all. and all that fancy shit !!
I'll add a little fuel to the fire...So this is another "Boomers are evil" thread?
20 Silly Reasons People Don’t Like Boomers - Critical Financial
The boomer generation is often found to be judged for multiple reasons. A lot of other generations feel like boomers had it relatively easy, but the older generation will more than likely disagree. Here are 20 silly reasons people don’t like boomers. They Can’t Text Without Using Full Sentences...
www.criticalfinancial.com
Yep... just thinking about getting another dollar from him keeps me hanging onto life. 🤣 Maybe with AI I can somehow convince the system that I'm still alive when I've been dead for 50 years.🤣
Disagree. Had little to do with the pandemic and more to do with agenda. The pandemic was a pretense. The other policies aren’t outside of money. They’re all inextricably entwined with a political philosophy that’s way left of center. It’s all one big pile of shit with lasting consequences. Our inflated prices that are sticking are a product of that agenda and insane Covid policies.
Like everything this set of Dems do, their intentions have backfired resulting in greater inequality. This admin should not be excused for what it created. MSW mentalities
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I don’t like hard candy. We don’t have any hard candy. Fake news. I don’t have much of a sweet tooth. I scrape icing off cake.I'll add a little fuel to the fire...
20 Silly Reasons People Don’t Like Boomers - Critical Financial
The boomer generation is often found to be judged for multiple reasons. A lot of other generations feel like boomers had it relatively easy, but the older generation will more than likely disagree. Here are 20 silly reasons people don’t like boomers. They Can’t Text Without Using Full Sentences...
But it’s true about the lawn. I have an excellent yard and I spite the youngsters and their weeds. There are only two types of people in this world - Those who edge and those who don’t.
My daughter and her friends bring candy then share it all in one massive bag. Candy salad. Like inmates. Nerd clusters. Worms. Sour patch kids. Nerd ropes. Don’t see much hard candy anymore.
Choking on a piece of hard candy and scaring yourself and the parents was almost a rite of passage when I was a kid.
Jawbreakers. I’ll tell ya what. Those nerd clusters are unreal. Delicious. But they’ll have you eating soup for days
Yea, yea, yea.
Sorries the BNB original was on tonight. Boomers Rule Baby!
Boomers are the one that made movies like this impossible to make
SC, this is an interesting topic as it points out that historically the growth of household net wealth is growing faster than household income.
This occurs when investments grow faster than income. When this occurs, which Americans benefit from the most from this? Without a doubt those with higher incomes who have the money to invest benefit the most.
In this thread The Boomers have been cited as the benefactors of the growth in wealth as a generation. What we overlook is within this group some Boomers made and invested a great deal more than other Boomers.
In the final analysis, the less wealthy are those whose net worth is primarily their home which provides shelter.
In contrast the more affluent have investments in assets such as stocks and bonds in addition to their homes. I would argue stocks and bonds which don't require the investor to make expensive repairs along with buying insurance and paying property taxes along with paying interest on the mortgage are the preferred investments.
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@twenty02 I see what you're doing here. Getting @Joe_Hoopsier drunk, buttering him up, then hitting on him at closing time in order to jump the line on a pergola.Not much there that I can disagree with. Maybe a few tweeks... minor though. ..
But, I'm going to bed. Peace and love to all. and all that fancy shit !!
No dice. I was first. Joe, I'm upping my offer: one case of Old Style and I'll handle your next divorce for free.
Whenever I hear the Carmen Overture the 1st thing that comes to mind is the BNB. I could watch that a hundred times and still laugh. That was the way it was!
Eventually. I’ve got it down to Newport Beach or Auburn Indiana
Are none of the increased prices due to the strategy of trying to disentangle from China and bring certain manufacturing back to the U.S.?
If not, isn't this a concern with Trump's stated policies?
Why 'Made in America' will make everything more expensive
America's supply chain dependence on China is changing and while it may raise prices, it could also create more US-based jobs.
www.businessinsider.com
Hypothetically, lets say it isn't exactly a "divorce" court issue? Still handle it?
Biden’s leftist agenda of free everything pumped too much dough Fing supply chains and exacerbating inflation. That was pandemic. That is just policy for the left. Ideology. I read from the fed that money is still circulating and causing stickiness.Are none of the increased prices due to the strategy of trying to disentangle from China and bring certain manufacturing back to the U.S.?
If not, isn't this a concern with Trump's stated policies?
Why 'Made in America' will make everything more expensive
America's supply chain dependence on China is changing and while it may raise prices, it could also create more US-based jobs.
As for trump yes I believe that too will hit prices from another angle and make shit expensive.
Defense of murder? Crime of passion? Sure.
