The New Inequality Is Wealth, Not Income

[emptystep]

This entire arguement is a joke. Most of the wealth lost was in the form of investments. Your retirement accounts and your home values (thanks dems for the sub prime crash).

People who live paycheck to paycheck without savings weren't hit at all.

You sheep will buy anything!

So just where do you think all the people who fell into the safety net fell from? The sky? Of course if we get rid of the safety net we will take away that little republican talking point.

 

[Skull Pilot]

LMAO
I have a house worth 100,000. My mortgage balance if 120,000. I have a neg. net worth of
20,000. I make a payment and reduct my loan balance by, lets say, 200. dollars.

Now I have a neg net worth of 19,800.

You want to try and show how I have INCREASED my net worth on a house that I owe more that it's worth.


And lets no parse words. Increase means just that; a gain.

Negative means just that; a loss.

Surely you are not going to say that a reduction in balance owed from 120000 to 119800 is a gain in net worth. When the home is only worth 100k.

Or do you not understand what "net worth" represents? Net worth is the asets minus your liabilities on those assets.

If you owe more that it is worth, you don't have "net worth" in that particular asset.

But you knew that. Didn't you. And just got all hung up on partisan politics.

Excuse me but -190000 is greater than -200000

So your net worth while still negative has increased.

It's called basic math.

And the term net worth applies to all assets and liabilities not just one.

Now I have to say what I started to say in my first post.

YOU my man are fuking stupid.

But I tell you what. YOU go to a banker and tell him you want to borrow money and use your negative net worth in your home for security. See what a banker thinks of your version of "net worth"

I mean fuking really. You think because you decreased the balance owed on a home that you owe more than the value of and you think you have increased your net worth.

You are to stupid or partisan to speak with.

Tell me which is the larger number

-100 or -500 ?

If you moved from a -500 dollar net worth to a -100 dollar net worth would your net worth have increased or decreased.

It is simple math but then again sheep aren't very good at math.

 

[zeke]

Skull, you are not a person I would call financially astute.

When and IF you had any money invested when the economy crashed and you got those end of year statements, those great big drops in value were not increasing your "net worth".

Your mortgage payment on home that has a lower value than the balance owed, is not increasing your net worth.

It is reducing your negative net worth.

Your understanding of debt and net worth must be the reason you believe Mitt is telling you the truth about cutting taxes, increasing military spending and balancing the budget.

Pititful.

 

[there4eyeM]

What did the person make the payment with? The sum paid was 'net worth' as well, and merely went into another account. It isn't the payment that increases net worth, it is obtaining the wherewithal to pay.

 

[zeke]

Skull. Net worth represents the plus side of your finances.

Owing more than value is the loss side. No net increase. A loss. You know what a "loss" is?

 

[zeke]

What did the person make the payment with? The sum paid was 'net worth' as well, and merely went into another account. It isn't the payment that increases net worth, it is obtaining the wherewithal to pay.

Well, not if he used a credit card to make his payment.

You must be talking cash flow now eh?

 

[Skull Pilot]

Skull, you are not a person I would call financially astute.

When and IF you had any money invested when the economy crashed and you got those end of year statements, those great big drops in value were not increasing your "net worth".

Your mortgage payment on home that has a lower value than the balance owed, is not increasing your net worth.

It is reducing your negative net worth.

Your understanding of debt and net worth must be the reason you believe Mitt is telling you the truth about cutting taxes, increasing military spending and balancing the budget.

Pititful.

I daresay I know more about finance than the average sheep.

If your net worth was -500 dollars and mine was -1 dollar who would have the larger net worth?

If your net worth was -500 and you paid off enough debt to bring it to -5 would your net worth have increased or decreased?

This is simple arithmetic just because the numbers are negative doesn't change the fact that -1 is a larger number than -5 or that moving from -100 to -50 an increase not a decrease.

You are assigning other meanings to the numbers.

 

[Skull Pilot]

Skull. Net worth represents the plus side of your finances.

Owing more than value is the loss side. No net increase. A loss. You know what a "loss" is?

Net worth is nothing but assets minus liabilities.


If your net worth was -100 and one of your assets gained in value to make your net worth -1 would your net worth have increased or decreased?

 

[LogikAndReazon]

The myth of "equality" certainly has its share of delusional adherents..........

Socialist bureaucrats need to make life more fair for the "oppressed"..........

 

[g5000]

Reid Cramer: The New Inequality Is Wealth, Not Income

Here is what the Fed reported about the changes in wealth holdings. Between 2007 and 2010, the average family saw their wealth decline 39 percent. During the same period, median incomes dipped 8%. The 39% drop in wealth speaks to the severity of the recession but the impact was not experienced equally. Families in the top ten percent by income actually saw their net worth increase almost two percent.

Those at the top had their wealth holdings increase and almost everybody else experienced a drastic decline. That's inequality by definition. Check out the visual (rollover to see the absolute figures).

http://www.federalreserve.gov/pubs/bulletin/2012/PDF/scf12.pdf


GOP lemmings ignore the obvious to wipe the asses of the rich.

I have pointed out this obvious fact to lefties many times on this board. Obama apologists brag about the growth of the stock market since Obama took office. Well, guess who literally owns half the stocks and bonds out there?

A very tiny minority of extremely wealthy people, that's who.

The top one percent alone own 38 percent of all stock market wealth.

A booming stock market doesn't mean shit to the 46 million people on food stamps. Obama hasn't done a damned thing for them.


He's an unmitigated failure for the common man.

.

 

[there4eyeM]

What did the person make the payment with? The sum paid was 'net worth' as well, and merely went into another account. It isn't the payment that increases net worth, it is obtaining the wherewithal to pay.

Well, not if he used a credit card to make his payment.

You must be talking cash flow now eh?

I don't get you; if it were paid with a card, not only would the payment be offset by increase borrowing, there would also be interest.

 

[Katzndogz]

The poor in America struggle with obesity.

In fact, the material well-being of our poor and working class has improved 50% since 1980.

Libtard Meme Thread Fail.

Who mentioned anything about the poor? Nice strawman.

This is about opportunity. People are working hard, but can't make it....they need government subsidies to keep a roof over their heads and food on the table....yet you think that they can miraculously find enough SOMEWHERE to start their own business and become wealthy.

While the currently wealthy are hoarding their holdings and/or investing away from the country....further limiting opportunity.

Our country is falling behind....not because of Obama....not because of entitlements or debt....I mean they play a part...but mostly it's about greed and a huge lack of patriotism in our private sector.

It's mostly because we pay people to be needy. Therefore they become even MORE needy. Just by observation, the needy are also fat and lazy. They are owed, therefore they should get. Much of the time they are owed something because they need whatever it is they want. If they are working hard and still need to be subsidized, they should increase their skills, increase their education, take some action. But no, what they do is raise children to expect government subsidies too. Now we have generational welfare of people who attach no importance to personal development because they are subsidized.

 

[g5000]

The myth of "equality" certainly has its share of delusional adherents..........

Socialist bureaucrats need to make life more fair for the "oppressed"..........

Like the man said, "We have so many people who can't see a fat man standing beside a thin one without coming to the conclusion the fat man got that way by taking advantage of the thin one."

.

 

[there4eyeM]

If it were a matter of some people exploiting the system and at the same time really saving others OR letting the really needy suffer to make the unwilling work, many thinking persons would choose the former.

 

[g5000]

The poor in America struggle with obesity.

In fact, the material well-being of our poor and working class has improved 50% since 1980.

Libtard Meme Thread Fail.

Who mentioned anything about the poor? Nice strawman.

This is about opportunity. People are working hard, but can't make it....they need government subsidies to keep a roof over their heads and food on the table....yet you think that they can miraculously find enough SOMEWHERE to start their own business and become wealthy.

While the currently wealthy are hoarding their holdings and/or investing away from the country....further limiting opportunity.

Our country is falling behind....not because of Obama....not because of entitlements or debt....I mean they play a part...but mostly it's about greed and a huge lack of patriotism in our private sector.

Our country is falling behind precisely because of people like Obama who want to continue the policy of socializing irresponsible behavior.

You know all those uninsured Americans everyone is all heated up about? Well, one third of them are high school dropouts. Irresponsible. And we taxpayers are expected to socialize that irresponsibility by paying for their health insurance out of our wallets thanks to idiots like Obama.

"Don't judge me! Don't judge me! Open up your ******* wallet and pay me, *****!"



Another reason we are falling behind is because our freedoms are continually being eroded. Obama just took away our freedom to choose whether or not to buy a commerical product!

We are burdened with assholes who work very hard to ensure Big Government makes more and more of our choices for us. That's what is meant by the "government takeover" of healthcare. That's what is meant by the charges of socialism.

Instead of letting people suffer the consequences of their bad choices, the modern day socialists transfer the consequences away from the irresponsible and make everyone else pay the price. Whether it is a dipshit who drops out of high school or a banker who makes a $300,000 loan to the dipshit who dropped out of high school, the ever dwindling remainder of us pay the cost of that irresponsibility at the point of a gun. We are plagued with socialists on the left and the right. They are a cancer.

One day in the near future, there won't be enough of us left to carry the cancerous burden and our society will finally implode. And ObamaCare has accelerated the arrival of that eventuality, as did TARP, and QE I, II, III...INFINITY.

.

 

[bitterlyclingin]

People used to emigrate to the United States because of the rumors that the streets here were paved in gold.
If you had your wits about you and were willing to work tirelessly for long hours you could make it. And you still could up until Barack Obama. His vision was of a Government that decided who would gain and who would lose wealth, which industries would prosper and which would not, based not upon intellect, insight, and hard work, but all upon the wisdom of those relative few ensconced in places of power in this all knowing, all good and all powerful government. 'Bam has had a few pipe dreams of that nature. "Let it be known that today was the day the oceans stopped rising and the planet began to heal" His ability to lie through his teeth hasn't hurt his fortunes either, "Bin Laden is dead, GM is alive" Ask the shareholders and bondholders of the old GM if they agree with that statement. The UAW is alive, thats all that survived from the old GM and Chrysler.
The old phrase "Its not what you know, its who you know.." has never been truer that today with Obama in charge.
George Soros, Obama's good friend, adviser, mentor, and early supporter went from being in the number forties of the world's richest people with only eleven billion in the bank to number fifteen of the world's wealthiest, with nineteen billion in the bank. Mr Soros is on record as saying the Obama Depression was very good to him. The Holocaust was good to Mr Soros as well. While his fellow countrymen were waiting in the cattle cars at the railway siding for the trip to begin to their final destination and termination, Georgie was busy unloading their possessions from their former residences. He called those times and experiences "Heady" and "Invigorating". Mr Soros has a knack of always turning up at places and times of excruciating human suffering and profiting handsomely from it. Then there's George Kaiser of Solyndra fame. Where, oh where did 525 million go? Then there is the donor bundler head of Fisker automotive and the battery maker that just went belly up the other day. Mr Obama's economic policy is to throw oodles of money up into the air, caring not where it landed, but in order to be near enough to catch it, you had to have donated substantial amounts to his campaign.
'Bam laid his policy of governing out for all to hear in his 1998 audio tape at Loyola University.
""Those people receiving welfare and other forms of government largesse, along with the working poor, constitute a critical mass, that if manipulated properly, could lead to the installation of a Liberal (read that as Communist) at the head of the government and maintain him there for a considerable time" "Bam was too smart to say "Communist" but after four years of Barry under our belt, we know exactly what he meant.