Is Income Inequality Leading To A Crisis For Capitalism?

[EdwardBaiamonte]

Do you hear that?

That's the sound of the point going way over your head.

Like it often does.

of course if true you would not be so afraid to explain what makes you think that it went over my head. What does your fear tell you?

 

[Toro]

Do you hear that?

That's the sound of the point going way over your head.

Like it often does.

of course if true you would not be so afraid to explain what makes you think that it went over my head. What does your fear tell you?

If you weren't such a one-dimensional ideological hack, you would have seen I was making a descriptive statement, not an ideological one. But when you only see the world through a simplistic ideological prism, you can't see the difference.

 

[EdwardBaiamonte]

when you only see the world through a simplistic ideological prism,

of course if its simplistic it ought to be easily defeated in debate, but you are afraid to try and reduced to personal attacks. What does your fear tell you?

 

[Toro]

when you only see the world through a simplistic ideological prism,

of course if its simplistic it ought to be easily defeated in debate, but you are afraid to try and reduced to personal attacks. What does your fear tell you?

Nobody is afraid of a guy who speaks in two sentence slogans you can put on a bumper sticker.

If you want to debate a point, first you've got to understand the point. And you clearly missed it.

 

[Uncensored2008]

I don't think its a crisis, but if people don't get what they think is fair out of the economic arena, they'll try to take it out of the political arena.

Societies generally become more unstable when inequality gets too high. It's best if everyone at large is advancing.

Of course this is true, and even the most biased charts the left posts show that everyone IS advancing. The complaint is that some are advancing faster than others. The left uses this to create jealousy and greed as a means of gaining power.

 

[georgephillip]

Capitalism Seen in Crisis by Investors Citing Inequalities

International investors say capitalism is in crisis, with almost one in three backing radical changes to the system, according to a Bloomberg survey.

As the global financial and business elite gather in Davos for their annual forum, a majority in the Bloomberg Global Poll agree that income inequality hurts the economy and that governments need to do something to address it -- ideas at the heart of “Occupy” protests worldwide. Those surveyed also voice reservations about the financial industry’s role in society, with seven in 10 seeing at least some truth in the argument that banks have too much power over governments.

“Capitalism is in crisis because there is a huge and growing disparity in income/wealth distribution in Western economies, and an equally divisive generational disparity,” poll participant Michael Derks, chief strategist for FXPro Financial Services broker in London, said in an e-mail.

<snip>

"There is a large and growing wealth disparity and I think it is unhealthy,” Steve Morton, a director at Natixis Securities in New York who took part in the survey, said in an e-mail. “The lower levels of the pyramid don’t have enough money to buy things and keep the economy going.”

<snip>

The banking culture has evolved radically, to the point where the perception amongst most members of society is that their actions are driven by the relentless pursuit of earnings with no regard to their potential negative impact on communities,” said Anson Rosewall, a poll participant and sales trader at BBY Ltd., a financial services firm in Sydney, Australia.

“The fact that banks have taken government cash, while the average person has lost his job and house without help, will probably forever tarnish the reputation of these major institutions,” he said in an e-mail.

The gap between rich and poor is widening across most developed economies as executives, bankers and skilled workers reap more rewards, the Organization for Economic Cooperation and Development said last month.

<snip>

The 459 U.S. investors who answered the survey view capitalism more favorably than their counterparts elsewhere, with roughly one in five saying the system needs an overhaul, according to the poll.
Capitalism Seen in Crisis by Investors Citing Inequalities - Bloomberg

The US investors have a more rosey outlook, maybe because Chart 1 leads to Chart 2?

Discuss.

I don't think its a crisis, but if people don't get what they think is fair out of the economic arena, they'll try to take it out of the political arena.

Societies generally become more unstable when inequality gets too high. It's best if everyone at large is advancing.

"crisis (plural crises)

"A crucial or decisive point or situation; a turning point.
"An unstable situation, in political, social, economic or military affairs, especially one involving an impending abrupt change."

Do you see the current situation or turning point that capitalism is experiencing as cyclical, structural, or systemic in nature? What if Karl Marx was right about the paradox of accumulation?

 

[EdwardBaiamonte]

Do you see the current situation or turning point that capitalism is experiencing as cyclical, structural, or systemic in nature?

capitalism is experiencing?? Can anyone say with a straight face that Fan/Fred, FHA ,CRA, Federal Reserve,FHA, represent capitalism ???

A liberal will lack the IQ to know what capitalism is so has no right to comment. Free speech was designed so that intelligent people can present worthy ideas, not so idiots could pollute the air.

 

[georgephillip]

Do Goldman Sachs and Bank of America represent Capitalism?

 

[georgephillip]

I don't think its a crisis, but if people don't get what they think is fair out of the economic arena, they'll try to take it out of the political arena.

Societies generally become more unstable when inequality gets too high. It's best if everyone at large is advancing.

Of course this is true, and even the most biased charts the left posts show that everyone IS advancing. The complaint is that some are advancing faster than others. The left uses this to create jealousy and greed as a means of gaining power.

Of course it's also true even the most biased corporate hacks can't dispute how the richest 1% of Americans have tripled their share of US income since 1970 while the richest 1% of Germans earn the same share of German income today they earned in 1970. Fascist apologists who suck down every steaming pile that Wall Street crams into their mouths often puke up projections of jealousy and greed on the victims of economic power.

 

[EdwardBaiamonte]

Of course it's also true even the most biased corporate hacks can't dispute how the richest 1% of Americans have tripled their share of US income since 1970 while the richest 1% of Germans earn the same share of German income today they earned in 1970.

The Germans were Nazis!! They have 70% of our standard of living, they average 9.5% unemployment( Eurosclerous) and they got extremely lucky getting huge profit margins on BWM, Mercedes and Audi. And, all the inventions come from America not Germany. They don't have a HP, Google, Facebook, Cisco, Oracle, Twitter, Microsoft, Apple, etc etc to have an extreme top 1%.

Plus the Germans have not created a huge liberal welfare class that subsists on free education heathcare and housing to create a huge bottom. And, if you count the welfare entitlements as income which of course you should we have less inequality than Germany. Depending on how you count its $3-4 trillion a year!

 

[EdwardBaiamonte]

Do Goldman Sachs and Bank of America represent Capitalism?

they are somewhat capitalist in a somewhat capitalist country? Do you have any idea why you are asking such a silly question??

 

[EdwardBaiamonte]

Societies generally become more unstable when inequality gets too high. It's best if everyone at large is advancing.

of course thats perfectly idiotic and liberal. Most people enjoy athletes, entertainers, and those like Steve Jobs who make 20 million a year plus endorsements. They make the bucks because we want and enjoy what they sell. Imagine how the world would be without our best people and best medical break throughs?

The instability comes one when a few liberals are brainwashed by Marxists to believe we're stupid and our heros are not our heros! The Marxist want to take over and be the heros, but thats a disaster since they have nothing to sell that we want to buy, except perhaps what they can steal from the rich.

China just got instantly rich by switching to capitalism! The liberals are trying so hard to pretend it didn't happen!!

 

[georgephillip]

Of course it's also true even the most biased corporate hacks can't dispute how the richest 1% of Americans have tripled their share of US income since 1970 while the richest 1% of Germans earn the same share of German income today they earned in 1970.

The Germans were Nazis!! They have 70% of our standard of living, they average 9.5% unemployment( Eurosclerous) and they got extremely lucky getting huge profit margins on BWM, Mercedes and Audi. And, all the inventions come from America not Germany. They don't have a HP, Google, Facebook, Cisco, Oracle, Twitter, Microsoft, Apple, etc etc to have an extreme top 1%.

Plus the Germans have not created a huge liberal welfare class that subsists on free education heathcare and housing to create a huge bottom. And, if you count the welfare entitlements as income which of course you should we have less inequality than Germany. Depending on how you count its $3-4 trillion a year!

You forgot that German labor unions have voting members sitting on the boards of directors of German corporations. Or maybe you're simply too stupid to understand that's why millions of middle class German jobs weren't gifted to Chinese fascists?

 

[Artevelde]

Free speech was designed so that intelligent people can present worthy ideas, not so idiots could pollute the air.

I have to disagree with you there. Free speech also implies the right to stupid speech. Without the freedom to stupid speech there is no free speech.

 

[Artevelde]

The word "fascist" is being further devalued as usual, probably by people who have no idea what fascism is about.

 

[editec]

Societies generally become more unstable when inequality gets too high. It's best if everyone at large is advancing.

China just got instantly rich by switching to capitalism!

Is China state controlled economy what you call capitalism?

Really?

That explain much about you, Eddie.

 

[Uncensored2008]

Do Goldman Sachs and Bank of America represent Capitalism?

No.

Why do you ask?

 

[Uncensored2008]

they are somewhat capitalist in a somewhat capitalist country? Do you have any idea why you are asking such a silly question??

They aren't in any way capitalist.

Goldman-Sachs exists based on favors granted by the federal government. It is a looter organization. It does not offer value in return for value, it operates on license of crooks in government that it bribes so that it can loot the public unfettered.

Tell me, why did Goldman get bailed out? Why did Lehman Bros. - the top competitor, not get bailed out?

Could it have ANYTHING to do with Hank Paulson?

Capitalist? Not in any way, shape, or form.

 

[Uncensored2008]

I have to disagree with you there. Free speech also implies the right to stupid speech. Without the freedom to stupid speech there is no free speech.

And no Barack Obama.


I'm just sayin...

 

[EdwardBaiamonte]

they[Goldman Sachs] are somewhat capitalist in a somewhat capitalist country? Do you have any idea why you are asking such a silly question??

They aren't in any way capitalist.

it is privately owned. Sorry!

Goldman-Sachs exists based on favors granted by the federal government. It is a looter organization. It does not offer value in return for value, it operates on license of crooks in government that it bribes so that it can loot the public unfettered.

so why not give your best example of looting for whole world to see??
all companies were bailed out when Wall Street was bailed out. Sorry!!

Tell me, why did Goldman get bailed out?

it was lynch pin of entire sustem as biggest or near biggest, but all were bailed out not just GS

Why did Lehman Bros. - the top competitor, not get bailed out?

at that point everyone was hoping bailouts were not necessary

Could it have ANYTHING to do with Hank Paulson?

actually all firms were bailed out!!

Capitalist? Not in any way, shape, or form.

as I said, private ownership, private customers, voluntary interactions
so it is very capitalist, though not as capitalist as it would be if government were far far smaller and far less able to shield business from competition.