It's Official: Everyone is Broke (Half of all spending comes from the top 10%)

[citygator]

The Financial Times reports that we are seeing a record amount of economic consolidation into the hands of the few. While the wealthy have long ago consolidated most of the wealth (77% today) the spending was less consolidated. Now today the top 10% are spending half of every consumer dollar. Asset owners are the only winners in this economy.

Welcome to the new America where opportunity* has an asterisk.

Thanks Trump!

https://finance.yahoo.com/news/feeling-rich-propping-economy-220000190.html

 

[Harry Dresden]

everyone is broke?....i dont have creditors knocking on my door...do you?...

 

[1srelluc]

WTF Foghorn?

Is the Statue of Liberty kaput too?

Go back to sleep.

 

[citygator]

everyone is broke?....i dont have creditors knocking on my door...do you?...

I think 90% is nearly everyone. I mean if you look at consumer confidence and opinion polls the economy is doing terribly. However in aggregate it looks fine as spending continues. The spending is on the backs of the few. We have two economies. One for us and one for them. Just depends on which us and them you are.

 

[luiza]

My spending and activities are clearly keeping thousands alive -- yet another facet of my kind and caring nature .

 

[Harry Dresden]

I think 90% is nearly everyone. I mean if you look at consumer confidence and opinion polls the economy is doing terribly. However in aggregate it looks fine as spending continues. The spending is on the backs of the few. We have two economies. One for us and one for them. Just depends on which us and them you are.

yea well you were one that was saying bidens economy was doing great,when many said it wasnt as great as you claimed ....this is the same thing....i notice very little difference between then and now....is this just more gator talk?...

 

[odanny]

Go out and price new homes, or better yet, price old homes for sale, and you'll experience some serious sticker shock.

On the brighter side, my former employer's share price has doubled since I retired 3 years ago.

Doubled.

 

[gipper]

The Financial Times reports that we are seeing a record amount of economic consolidation into the hands of the few. While the wealthy have long ago consolidated most of the wealth (77% today) the spending was less consolidated. Now today the top 1% are spending half of every consumer dollar. Asset owners are the only winners in this economy.

Welcome to the new America where opportunity* has an asterisk.

Thanks Trump!

View attachment 1206671

https://finance.yahoo.com/news/feeling-rich-propping-economy-220000190.html

As you know, income inequality has been an issue for some time. Blaming it all on Dumb Don is disingenuous and really ignorant uniparty propaganda.

 

[citygator]

yea well you were one that was saying bidens economy was doing great,when many said it wasnt as great as you claimed ....this is the same thing....i notice very little difference between then and now....is this just more gator talk?...

Its been a problem since the 90's Republican war on the working class launched. Tax cuts for the rich and corporations along with weakening labor laws and a total abdication of wage growth policy. Its just gotten worse and worse.

Laborers need a national strike across multiple industries, or a revolution in voting to send politicians that care, otherwise they'll never get power back.... unless they take it Marxist style which would be bad for all.

 

[citygator]

As you know, income inequality has been an issue for some time. Blaming it all on Dumb Don is disingenuous and really ignorant uniparty propaganda.

See my post above. Don has made it worse but the problem has been around since the 90's Republican policy war on the working class.

 

[gipper]

See my post above. Don has made it worse but the problem has been around since the 90's Republican policy war on the working class.

Yeah he’s made it worse. Exactly as Bubba, O, and Demented Joe did.

Do you see a pattern?

 

[OhPleaseJustQuit]

everyone is broke?....i dont have creditors knocking on my door...do you?...

.

I have no debts, a house that's paid for, a comfortable monthly income and enough assets to live on for the rest of my life.

I'm okay.

.

 

[Muhammed]

The Financial Times reports that we are seeing a record amount of economic consolidation into the hands of the few. While the wealthy have long ago consolidated most of the wealth (77% today) the spending was less consolidated. Now today the top 10% are spending half of every consumer dollar. Asset owners are the only winners in this economy.

Welcome to the new America where opportunity* has an asterisk.

Thanks Trump!

View attachment 1206671

https://finance.yahoo.com/news/feeling-rich-propping-economy-220000190.html

It's no mystery. The people who make more money spend more money than the people who make less money because they have more money than them, moron.

 

[citygator]

Yeah he’s made it worse. Exactly as Bubba, O, and Demented Joe did.

Do you see a pattern?

I disagree. They didnt make it any better but their legislation didnt make it worse. Obama used 100% of his political capital on healthcare. Biden use his political capital on infrastructure. Neither had anything in the tank for reforming the economic structure built in the 90's.

The Democrats have failed to make it clear to the working class what is going on and offer them a clear reason to support them in enough numbers to make a difference. It will take a landslide to make a change.

 

[citygator]

It's no mystery. The people who make more money spend more money than the people who make less money because they have more money than them, moron.

When you look at history people are working more hours and are more productive than ever before and getting a much smaller piece of the pie because of decades of standing legislation, legal rulings, and budgets that enabled owners to take away worker benefits, wages, and negotiating power.

It's like blaming the victims of a Ponzi scheme because they were tricked and lied to.

 

[Muhammed]

When you look at history people are working more hours and are more productive than ever before and getting a much smaller piece of the pie because of decades of standing legislation, legal rulings, and budgets that enabled owners to take away worker benefits, wages, and negotiating power.

It's like blaming the victims of a Ponzi scheme because they were tricked and lied to.

When you vote for the Democratic party of slavery, it's your fault that you are being treated like a ******* slave.

 

[gipper]

I disagree. They didnt make it any better but their legislation didnt make it worse. Obama used 100% of his political capital on healthcare. Biden use his political capital on infrastructure. Neither had anything in the tank for reforming the economic structure built in the 90's.

The Democrats have failed to make it clear to the working class what is going on and offer them a clear reason to support them in enough numbers to make a difference. It will take a landslide to make a change.

Of course they all made it worse.

You’re no different from a crazed Trumper. You support the D Party unconditionally just as they do dumb Don.

It’s the way of the uniparty.

 

[SweetSue92]

The Financial Times reports that we are seeing a record amount of economic consolidation into the hands of the few. While the wealthy have long ago consolidated most of the wealth (77% today) the spending was less consolidated. Now today the top 10% are spending half of every consumer dollar. Asset owners are the only winners in this economy.

Welcome to the new America where opportunity* has an asterisk.

Thanks Trump!

View attachment 1206671

https://finance.yahoo.com/news/feeling-rich-propping-economy-220000190.html

Yea, it's really bad. I just read about this in Micah last night and underlined like a fiend.

But notice this is not a thing that started under Trump. The line crossed under Obama, and has just been worsening. Not sure how--or even IF--you come back from this

 

[citygator]

Of course they all made it worse.

You’re no different from a crazed Trumper. You support the D Party unconditionally just as they do dumb Don.

It’s the way of the uniparty.

Explain. They didnt reverse the momentum for sure. How did their policies make it worse? I will 100% agree that the Democrats are ineffective communicators and would rather virtue signal over mobilize. They suck. Not because they have bad policy but because they cant organize momentum on a clearly fabric fracturing issue in this nation.

 

[1srelluc]

It's like blaming the victims of a Ponzi scheme because they were tricked and lied to.

You mean like Social Security?

Remind us again which party signed that into law.

I'll help.

Oh, look who signed the Food Stamp Act into law.