Free Market Foundations

[antagon]

The trend of upward mobility is being stifled. With rare exception, only the favored and the connected are now being allowed to accrue wealth.

this is similar to frank's statement about the control of the mortgage market. to me, this is just too extreme to sit with reality. i'm a part of a couple business associations, one is the chamber of commerce. at any given chamber mixer, it is overwhelmingly obvious that people are accruing wealth in our economy. im accruing wealth in our economy. this is still the best place on the planet for average people to do so, hands down. no where comes remotely close.

i think what has happened is that people have come up with this expectation that this will all come easy or without risk. it has never been easy and risk free to become 'rich' or even accrue a little wealth. most people with the appropriate earnings to accrue wealth choose to accrue debt and status instead. other folks just dont earn enough to think they have a chance, really.

 

[asterism]

The trend of upward mobility is being stifled. With rare exception, only the favored and the connected are now being allowed to accrue wealth.

this is similar to frank's statement about the control of the mortgage market. to me, this is just too extreme to sit with reality. i'm a part of a couple business associations, one is the chamber of commerce. at any given chamber mixer, it is overwhelmingly obvious that people are accruing wealth in our economy. im accruing wealth in our economy. this is still the best place on the planet for average people to do so, hands down. no where comes remotely close.

I challenge you to take a proper survey and see if that is actually happening. There are always people who do well, but are they doing consistently well for a long period?

i think what has happened is that people have come up with this expectation that this will all come easy or without risk. it has never been easy and risk free to become 'rich' or even accrue a little wealth. most people with the appropriate earnings to accrue wealth choose to accrue debt and status instead. other folks just dont earn enough to think they have a chance, really.

While that is true, this climate has produced a level of crony capitalism beyond any in our history. The government is literally subsidizing companies that had failed business models and they are doing so with money collected from those who had sustainable operations.

 

[antagon]

it would depend on the circle of people with whom you associate. even in a garbage economy there are upwardly mobile americans. in fact, those who have played their cards right are acquiring undervalued assets in this deflated part of the cycle.

none of this has anything to do with cronyism, bush or obama. none of that shit matters when you're looking to make a couple million dollars. the world and certainly america does not work the way that you describe sufficient for me to say that favoritism and connection is required in all but exceptional cases of upward mobility.

from my perspective this is very far fetched.