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Would you agree?Money is a concept, not a commodity.
"MONEY IS A COMMODITY and can only be possessed by one person OR another.
The Dooh Nibor Economy (that’s “Robin Hood” backwards!) | Phil
This is not exactly true. Money is created everyday out of think in little "ones" and "zeros" because... Money is debt. The fractional reserve system says that a bank can loan out 9X the money it has in its reserve, which then gets lent out again and again... but none of it is real, it is just debt, or borrowed. So, what started out as a small principle, is now spread out across millions of people, who all, conceptually, have that same dollar that you say isn't possible, since it all came from a small principle in the beginning before it was exponentially increased by the fractional reserve system of lending.
The Fed is a joke and the central bank has been killing this country since its inception in 1913, and has only helped make the rich richer and the poor poorer and that isn't an accident. Don't chalk it up to personal volition. It is intentional and built into our financial system that there is inflation, debt, and consolidation of wealth among few. There is nothing that can be done about it unless you change monetary policy with regards to the Fed.
Would you agree?
"MONEY IS A COMMODITY and can only be possessed by one person OR another.
The Dooh Nibor Economy (that’s “Robin Hood” backwards!) | Phil
This is not exactly true. Money is created everyday out of think in little "ones" and "zeros" because... Money is debt. The fractional reserve system says that a bank can loan out 9X the money it has in its reserve, which then gets lent out again and again... but none of it is real, it is just debt, or borrowed. So, what started out as a small principle, is now spread out across millions of people, who all, conceptually, have that same dollar that you say isn't possible, since it all came from a small principle in the beginning before it was exponentially increased by the fractional reserve system of lending.
The Fed is a joke and the central bank has been killing this country since its inception in 1913, and has only helped make the rich richer and the poor poorer and that isn't an accident. Don't chalk it up to personal volition. It is intentional and built into our financial system that there is inflation, debt, and consolidation of wealth among few. There is nothing that can be done about it unless you change monetary policy with regards to the Fed.
I read this from time to time, that the only way to seriously improve things is to change monetary policy with regards to the Fed--or even get rid of the Fed altogether. Given that there are plenty of folks who benefit from the way things are going, just how likely is any change at all? Is a total meltdown inevitable--with riots in the streets a la Greece?
And the jokes will keep coming as long as Americans continue to "choose" between Democrat OR Republican in the voting booth, imo.Let me know when the Hopey Changey One makes his good buddies over at GE start paying Taxes. GE CEO Jeffrey Immelt his "Jobs Czar??" What a fuckin joke.
Where does the link claim the money supply has been reduced?Would you agree?Money is a concept, not a commodity.
"MONEY IS A COMMODITY and can only be possessed by one person OR another.
The Dooh Nibor Economy (thats Robin Hood backwards!) | Phil
All that proves is that the guy that writes that blog is an idiot.
From your link.
As this chart shows, the US is cranking out multimillionaires at a record pace with super-rich (more than $10M) households doubling in the past decade. Whats scary is that doubling the amount of people who have more than $10M per household (from 300K to 600K) means theres $3,000,000,000,000 less available for the other 98% of the of the households as MONEY IS A COMMODITY and can only be possessed by one person OR another.
One indication that someone has no idea what they are talking about is the excessive use of bold text in order to emphasize points that are completely unrelated to reality. During the period that the US created all those millionaires, and supposedly reduced the money supply in the process, the net worth of the US went from approximately $37 trillion to more than $60 trillion. That means that, in the real world, the 97% of the rest of the US population had around $20 trillion more dollars to play with.
I do enjoy reading Phil when someone posts a reference to his delusions though, so I thank you for bringing him back again.
Money is debt.Would you agree?Money is a concept, not a commodity.
"MONEY IS A COMMODITY and can only be possessed by one person OR another.
The Dooh Nibor Economy (that’s “Robin Hood” backwards!) | Phil
This is not exactly true. Money is created everyday out of think in little "ones" and "zeros" because... Money is debt. The fractional reserve system says that a bank can loan out 9X the money it has in its reserve, which then gets lent out again and again... but none of it is real, it is just debt, or borrowed. So, what started out as a small principle, is now spread out across millions of people, who all, conceptually, have that same dollar that you say isn't possible, since it all came from a small principle in the beginning before it was exponentially increased by the fractional reserve system of lending.
The Fed is a joke and the central bank has been killing this country since its inception in 1913, and has only helped make the rich richer and the poor poorer and that isn't an accident. Don't chalk it up to personal volition. It is intentional and built into our financial system that there is inflation, debt, and consolidation of wealth among few. There is nothing that can be done about it unless you change monetary policy with regards to the Fed.
Money is debt.Would you agree?
"MONEY IS A COMMODITY and can only be possessed by one person OR another.
The Dooh Nibor Economy (thats Robin Hood backwards!) | Phil
This is not exactly true. Money is created everyday out of think in little "ones" and "zeros" because... Money is debt. The fractional reserve system says that a bank can loan out 9X the money it has in its reserve, which then gets lent out again and again... but none of it is real, it is just debt, or borrowed. So, what started out as a small principle, is now spread out across millions of people, who all, conceptually, have that same dollar that you say isn't possible, since it all came from a small principle in the beginning before it was exponentially increased by the fractional reserve system of lending.
The Fed is a joke and the central bank has been killing this country since its inception in 1913, and has only helped make the rich richer and the poor poorer and that isn't an accident. Don't chalk it up to personal volition. It is intentional and built into our financial system that there is inflation, debt, and consolidation of wealth among few. There is nothing that can be done about it unless you change monetary policy with regards to the Fed.
Many argue that if all US debt is ever repaid all US money vanishes with it.
We seem to have reached a point where "the magic of compound interest" makes it virtually impossible for workers to ever get free of their debt. Cradle to grave wage slavery, in other words.
I'm not sure the machine (technology) hasn't been perfected to such a degree that capitalism is no longer capable of providing humanity with enough jobs for all who need one.
Central banks are a big part of the reason that so few control so many dollars today.
The best alternative to that problem that I've seen requires public banking which would turn monetary policy over to politicians. If there are any solutions to these problems, I don't see any elected Republicans OR Democrats presenting them to the public.
Maybe they're afraid they won't be able to raise enough money to survive their next primary if they try?
Globally the wealth of "high net worth individuals" reached $42.7 trillion in 2010.According to an annual report by Merrill Lynch and Capgemini the wealth of "high net worth individuals" globally reached $42.7 trillion in 2010, two years after the onset of the Great Recession. Between 2009 and 2010 the HNWIs saw their incomes rise nearly 10%.
Does that sound like shared sacrifice to you?
Or are the rich getting richer by inflicting austerity budgets on everyone else?
How in the hell can you blame austerity budgets for making the rich richer?
We have yet to have any austerity budgets go into action in this country. The STIMULUS & BAILOUTS is what made the rich richer.
Austerity is coming nationally in Europe while it proceeds at a state level in this country. Thanks to Obama bowing low before the "savvy businessmen" on Wall Street many Democrats who voted in 2008 didn't see any reason to cast a ballot in 2010.
Most of the very rich in this country have discovered how to prosper regardless of the state of the economy. Both major parties serve their interests; however, Republicans take special delight in serving the richest 1%:
"My brother Kevin, with all his challenges, is in every way the kind of person we would want in our society: a wonderful son, a great brother, someone who looks out for and helps everyone around him.
"This is the kind of person Republicans would leave by the side of the road in order to, as my friend Bob Creamer put it, 'protect tax loopholes for CEOs who fly corporate jets.'
"They would devastate Medicaid and programs for the disabled, so that the wealthiest most powerful people in America would not have to pay a single extra dime in taxes."
What Does America Stand For? | Crooks and Liars
Where does the link claim the money supply has been reduced?Would you agree?
"MONEY IS A COMMODITY and can only be possessed by one person OR another.
The Dooh Nibor Economy (thats Robin Hood backwards!) | Phil
All that proves is that the guy that writes that blog is an idiot.
From your link.
One indication that someone has no idea what they are talking about is the excessive use of bold text in order to emphasize points that are completely unrelated to reality. During the period that the US created all those millionaires, and supposedly reduced the money supply in the process, the net worth of the US went from approximately $37 trillion to more than $60 trillion. That means that, in the real world, the 97% of the rest of the US population had around $20 trillion more dollars to play with.As this chart shows, the US is cranking out multimillionaires at a record pace with super-rich (more than $10M) households doubling in the past decade. Whats scary is that doubling the amount of people who have more than $10M per household (from 300K to 600K) means theres $3,000,000,000,000 less available for the other 98% of the of the households as MONEY IS A COMMODITY and can only be possessed by one person OR another.
I do enjoy reading Phil when someone posts a reference to his delusions though, so I thank you for bringing him back again.
The $23 trillion "more dollars" you refer to were not shared equally among 100% of Americans.
They were primarily divided among the millionaires and billionaires (old and new) who fund the campaigns of Republicans AND Democrats in DC.
Maybe you should read Phil a little more carefully?
As this chart shows, the US is cranking out multimillionaires at a record pace with super-rich (more than $10M) households doubling in the past decade. Whats scary is that doubling the amount of people who have more than $10M per household (from 300K to 600K) means theres $3,000,000,000,000 less available for the other 98% of the of the households as MONEY IS A COMMODITY and can only be possessed by one person OR another.
You mean we're not all in this together?
Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.
"According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world..."
The rich get richer because the poor get austerity budgets.
World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams
You mean we're not all in this together?
Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.
"According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world..."
The rich get richer because the poor get austerity budgets.
World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams
400 individuals control more wealth than 150 million Americans combined.
We have the greatest disparity of wealth of any industrialized nation.
It's a national disgrace.
You mean we're not all in this together?
Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.
"According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world..."
The rich get richer because the poor get austerity budgets.
World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams
400 individuals control more wealth than 150 million Americans combined.
We have the greatest disparity of wealth of any industrialized nation.
It's a national disgrace.
Compare the US to Mexico, or Russia or any other country you choose. The percentage will be about the same. It's a simple fact. A few are presented with the opportunities to get very wealthy. It is not a "national shame" it is life. get over it. Or conversly you could work hard and become one of those you despise. Of course that takes work. Something I fear you don't like much.
You mean we're not all in this together?
Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.
"According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world..."
The rich get richer because the poor get austerity budgets.
World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams
400 individuals control more wealth than 150 million Americans combined.
We have the greatest disparity of wealth of any industrialized nation.
It's a national disgrace.
Compare the US to Mexico, or Russia or any other country you choose. The percentage will be about the same. It's a simple fact. A few are presented with the opportunities to get very wealthy. It is not a "national shame" it is life. get over it. Or conversly you could work hard and become one of those you despise. Of course that takes work. Something I fear you don't like much.
You mean we're not all in this together?
Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.
"According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world..."
The rich get richer because the poor get austerity budgets.
World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams
400 individuals control more wealth than 150 million Americans combined.
We have the greatest disparity of wealth of any industrialized nation.
It's a national disgrace.
They all ought to be lined up and shot, their assets taken, dispersed across America and start the fuck over, and let the cream rise to the top legitimately. No "special favors", no Washington Lobbyists... just pure competition. But even without the summary executions... our rich are so used to being pandered to... Competition has become a word of simple propaganda to rile the idiots of the tea party up. They don't want competition anymore than the crack whore wants her welfare cut off.
400 individuals control more wealth than 150 million Americans combined.
We have the greatest disparity of wealth of any industrialized nation.
It's a national disgrace.
Compare the US to Mexico, or Russia or any other country you choose. The percentage will be about the same. It's a simple fact. A few are presented with the opportunities to get very wealthy. It is not a "national shame" it is life. get over it. Or conversly you could work hard and become one of those you despise. Of course that takes work. Something I fear you don't like much.
You can't debate the facts, so you resort to personal insult.
That means I won.
And I work seven days a week and make over 100K a year.
400 individuals control more wealth than 150 million Americans combined.
We have the greatest disparity of wealth of any industrialized nation.
It's a national disgrace.
Compare the US to Mexico, or Russia or any other country you choose. The percentage will be about the same. It's a simple fact. A few are presented with the opportunities to get very wealthy. It is not a "national shame" it is life. get over it. Or conversly you could work hard and become one of those you despise. Of course that takes work. Something I fear you don't like much.
File:Gini Coefficient World CIA Report 2009.png - Wikipedia, the free encyclopedia
Ok... take a look... read the description of the map below to figure out where we stand.
He's on Obama's anti-wealth radar. He should be furious that the Obama admin wants him to cough up more of his hard earned dollars.Compare the US to Mexico, or Russia or any other country you choose. The percentage will be about the same. It's a simple fact. A few are presented with the opportunities to get very wealthy. It is not a "national shame" it is life. get over it. Or conversly you could work hard and become one of those you despise. Of course that takes work. Something I fear you don't like much.
You can't debate the facts, so you resort to personal insult.
That means I won.
And I work seven days a week and make over 100K a year.
Sure you do.
