Political discussions about everything
#49256
85 richest now have as much money as poorest 3.5B. Oxfam estimates that between March 2013 and March 2014, those same 85 billionaires saw their wealth grow by $668 million every day.

These people are so grotesquely rich that if Bill Gates, for example, spent $1 million every day, it would take him 218 years to exhaust his funds.

That, of course, would never happen because Gates would be earning millions of dollars a day in interest on the rest of his wealth.

When you have more money than you could possibly spend in several lifetimes, you can afford to do some pretty crazy things.

Like spend $95,000 on a 4 lb white truffle that looks like a turd because when your name is Vladimir Potanin, the Russian mining tycoon, and you have a net worth of $13.9 billion, $95,000 is pocket change.

Much ink has been spilled about the widening gap between the richest and the poorest, and about what it means for the global economic outlook, and yet, extreme inequality persists which has been on steroids over the last 5 years.
By Grog
#49261
Isn't that the conservative dream?

Sure it is.

The never-changing bottom plank of the eternal conservative platform is "I got mine. Fuck you and yours."

Are you now pretending to run from it?
#49266
Ya gotta laugh...

Now the reactionaries are even trying to blame immense wealth on Obama.
Tool just admitted that the rich didn't get rich from hard work and merit.
Apparently Obama's the one who made them all rich by allowing their corruption and not taxing them enough. :lol:
#49278
It is a sort of paradox.

But Obama (like Bush Jr) imports new poverty in the form of millions of illegal immigrants.

And, after the Crash of 08, the Fed kept rates stunningly low for year after year.

Just yesterday, the press was touting the falling unemployment rate, but that's just the headline figure. The U-6, the genuine rate, was 11.5 percent for October 2014.
#49282
Apparently Obama's the one who made them all rich by allowing their corruption and not taxing them enough
The rich have gotten richer under Obama and the middle class poorer...all under Obama, not the Republicans, Obama owns it.
#49304
So you think Obama hasn't been taxing the rich enough, eh RealTool?

"The rich have gotten richer under Obama and the middle class poorer...all under Obama, not the Republicans..."-RealTool

And then you're going to pretend the rich don't get richer under Republicans?
They get poorer under Republicans? :lol:
And you're going to pretend the middle class wasn't shrinking under Republican W.Bush too? :lol:

You ARE The Tool.
#49306
Despite the election, Obama still wants to give amnesty to millions of illegals.

This will encourage more illegal immigration, and further increase poverty in America.

Under Obama, middle class incomes have remained stagnant.

Obama's tenure has been a disaster for middle class taxpayers, but Obama doesn't care about them at all.
#49316
Six years into Obama's reign, the old "Bush did it" routine won't wash.

Are there some wider trends which have caused middle class wages to stagnate? Sure, but Obama spent two years seeking the presidency and claiming he had answers and claiming he'd be different (post-partisan, post-racial).

Everything Obama did on the economy either didn't help or made matters worse.

46 million on food stamps, 18 trillion in debt, 12 million illegal immigrants, 11.5 percent U-6 unemployment, 11 million on Social Security disability...
#49322
But see, johnny? None of that stuff you listed was caused by Obama.

Bush policies actually put millions of those recipients on food stamps when he collapsed the economy.
That wasn't Obama. People are coming off food stamps under Obama.

The 12 million illegal immigrants were already here under Bush.
Obama deported record numbers of them.
The problem is no worse under Obama than what the Republicans handed him.
But you blame Obama for the mess the Republicans handed him and are still failing to address in Congress.

The U-6 was over 14% in 2009 when Obama took over from Bush. Do you blame Bush for that? No.
Instead you blame Obama for it all when under Obama the rate has been reduced from 14% to 11.5%.
Do you give him credit for bringing the rate down? No.

And the economy is much better off today than when Obama took office.
How can you say with a straight face that everything he did made things worse or didn't help?
The markets are at record highs. Don't you bother to look at your portfolio a few times a year?
I don't know what you invest in, but I'm MUCH better off today.

The 18 trillion debt would have been far worse if Obama hadn't stopped the debt's rate of increase from what Bush handed him.

And no President makes people disabled. That's just stupid.

It isn't that "Bush did it" dimwit.
It's that "Obama DIDN'T do it" on any of the things you're pretending to be upset about.
But you still blame him for all of it.
That's because you're nothing but a partisan hack.
#49324
No, the expansion was to 47 million people on food stamps. The Dept of Agri seems to want MORE on food stamps.

Bush Jr was certainly at fault for not mandating universal E-Verify and assuring employers were penalized for hiring illegals.

But the only reason the overall quantity of illegals didn't increase much was the lousy economy under Obama.

As to the U-6, I'm delighted it is falling. But, when people discuss the trend, that distracts from the sad fact of where we are. And where we are is 11.5 percent U-6 real unemployment.

Time brought the U-6 down, as the Crash of 08 receded into history. Every Obama policy on the economic front has been a disaster.

I look at my portfolio constantly, including every day several hours after the market close. I'm doing much, much better than in 2008, but that's due to my own discipline and not the federal govt.

Obama added more to the 18 trillion debt than all prior presidents combined. This is another disaster which will burden our grandkids. The only way out is defaulting on the debt or high inflation. America cannot pay this off.

Obama didn't make more people disabled. More filed for disability due to his lousy economy, and ALJs did their usual allowance rate. (This discussion would get a bit too arcane for this forum.)
#49333
No, the expansion was to 47 million people on food stamps. The Dept of Agri seems to want MORE on food stamps.
Of course they do, to a public agency they're customers, the more customers they have the more promotion opportunities and job security. No needy customers, no public jobs.
#49351
"No, the expansion was to 47 million people on food stamps."-johnforbes

Huh? Nobody disputed that the program was expanded to 47 million.
When W. was elected, there were 17.5 million of food stamps.
When he left office there were 31.7 million on food stamps.
When W. crashed the economy, another 16 million went on food stamps in the next few years of his great recession.
Now the numbers are coming down. So even if you don't give Obama credit for this, at least you can't blame him for it.

What has any of that got to do with Obama? If Romney had been elected the same thing would have happened.
But you're suggesting this huge increase in the number on food stamps was just the result of 'expanding the program' when 90% of the increase was caused by unemployment, not anything to do with Obama.

"The Dept of Agri seems to want MORE on food stamps."-johnforbes

Well, duh...
Any bureaucracy will perpetuate itself. That's not news.
And it has nothing to do with Democrat or Republican.
It's the nature of the beast.

"But the only reason the overall quantity of illegals didn't increase much was the lousy economy under Obama."-johnforbes

Ya gotta love this one. In his earlier post johnforbes blames the "12 million illegal immigrants" problem on Obama. Then he says Obama was so bad with the economy that he didn't cause the illegal immigrant problem to get worse than it already was.
See? When you don't think about the things you say, you stick your foot in your mouth.

"But, when people discuss the trend, that distracts from the sad fact of where we are. And where we are is 11.5 percent U-6 real unemployment."-johnforbes

I see. You have no problem assigning blame to Obama for the U-6 of 11.5%, but you just can't give credit for the 2.5% decline since he took office.
This is what the reactionaries do. If the rate goes up, they are happy to assign blame to the other party. But if the rate improves dramatically, they refuse to give credit for the improvement to the other party.
"Time" caused the improvement, but the other party caused the damage, regardless of the fact that things have only improved since they took power.

" I'm doing much, much better than in 2008, but that's due to my own discipline and not the federal govt."-johnforbes

This is corollary to the previous attitude. When johnforbes was doing much worse, it was Obama's fault, regardless of the market crash precipitated before Obama was even in office.
But if he's doing much better now, then it's not the responsibility of Obama, but of his own "discipline".
Yeah, it's john's "discipline" that made the Dow go up 10,000 points. :lol:
The Dow is up over 10,000 points since 2009, 150% in just 6 years, all years of Obama tenure, but, to johnforbes, Obama is not responsible for any of it. Yet somehow Obama is still responsible for every bad aspect of the economy.
If the Dow was up 10,000 points under a Romney Presidency, every last reactionary clown here would be crowing about how this proved the thesis of conservative values and policies.
It's uncanny how that works.

"Obama added more to the 18 trillion debt than all prior presidents combined."-johnforbes

Wrong.
W. Bush left office with a national debt of nearly $10.7 trillion on the books. ($5 trillion of that was W's)
Obama has added $7 trillion.
To make john's statement true, Obama would need to have added $10.8 trillion to the debt, which he hasn't.

"This is another disaster which will burden our grandkids. The only way out is defaulting on the debt or high inflation. America cannot pay this off."-johnforbes

Then for God's sake tell your Republican Presidents to stop their huge percentage increases in the debt.
Reagan was a disaster and the start of the nightmare.
http://zfacts.com/p/318.html

But hey, as one great Republican said, "Deficits don't matter."
So you can stop worrying so much, johnny.
#49353
No president ruins -- or saves -- an economy. The links are more complex than such simplistic rhetoric.

Obama's goal was to remake America into a less-white, more-socialist place -- a welfare state with open borders.

The food stamp program went to 47 million because of the Crash of 08 in part, but also because of the Obama notion of turning America into a Swedish-style welfare state.

Yep, the weak economy was the only reason the 12 million illegal immigrant population didn't vastly expand under Obama, who has promised -- and still is -- rewards for breaking the law.

As to the change in the U-6, I'd love to see it lower as an investor. Only kids in the 6th grade spend all their time cheering for some politician.

Some percentage of the problem with the U-6 is structural, as Asia dominates more in this century. But it has been exacerbated by Obama's socialism. He doesn't even want the U.S. to be a free, powerful, capitalistic country.

Only index investors care mainly about market indicators, and even in that scenario it isn't the Dow they care about.

Yep, the great secret of investing is that personal discipline paves the way for most personal success. Obviously that cannot make markets go up. But the intelligent iinvestor looks for a company which can succeed over time.

I was successful as an investor before Obama was even known in America and hopefully will be when Obama is written off as a race-baiting socialist.

A lousy, dishonest president such as LBJ doesn't mean individual citizens cannot get an education, perform military service, stay fit, save, and invest.
#49355
But hey, as one great Republican said, "Deficits don't matter."
President Obama has the largest deficits, totaling $6.8 trillion projected for his eight years in office.

Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare than their predecessors did. That's because health care costs were rising, and the American population was aging.

President Bush is next, racking up $3.294 trillion over two terms. He responded to the attacks on 9/11 by launching the War on Terror. This drove military spending to a new records, between $600-$800 billion a year.
Obama's deficit is already over twice of what Bush's was and he still has two years in office to triple it.
#49370
Deficit cut in half under Obama.
No matter that we owe more than twice than when Obama came to office, you're falling for the White House talking point of trying to compare it to the percentage of GDP rather than amounts. Good try. Obama has ran up more debt than all other Presidents combined, that a fact.
#49372
"Obama has ran up more debt than all other Presidents combined, that a fact."-RealSlow

No, that's NOT a fact.
Geezus, Tool, I just explained to you above that this is wrong and gave you the numbers to back it up.
Exactly how slow are you? Let's try again...

I'll type real slow for you this time----

W. ----- Bush ------ left ------- office ------- with ------- a -------national ------ debt ----- of ------ nearly ------ $10.7 ------ trillion ------- on ------- the ------ books. ------- ($5------ trillion------ of------ that----- was -----W's)
Obama ------- has -------- added ------- $7 ------ trillion.
To -------- make ------ your ------ statement ------ true, ------ Obama ------- would-------- need -------- to ------ have ------ added ------ $10.8 ------- trillion ------ to ------ the ------ debt, ------ which------ he------ hasn't.
#49374
RealJustme wrote:
Deficit cut in half under Obama.
No matter that we owe more than twice than when Obama came to office, you're falling for the White House talking point of trying to compare it to the percentage of GDP rather than amounts.
BULLSHIT!!!

:lol:
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