The Price of Inequality

[martin48]

The top 1% have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99% live. Throughout history, this is something that the top 1% eventually do learn - usually too late.

So much for the USA being the land of opprortunity

Please read the latest book by Joseph Stiglitz - still hope for us


http://www.guardian.co.uk/books/2012/jul/13/price-inequality-joseph-stiglitz-review

[yodajazz]

Thanks for the link. The views of this book are nearly exactly the same as I believe. I remember in my state, there was a law that capped interest rates on loans. The concept behind that was that it was possible for a business to have unfair avantage of its consumers. Now a days, it's about what ever is good for profit.

[Ben]

Thom Hartmann explains the negative impacts of inequality:

The Middle Class Decline - It all began with Reagan- YouTube (http://www.youtube.com/watch?v=534YLXIKT1E&feature=plcp)

[Ben]

Richard Wilkinson: How economic inequality harms societies - YouTube (http://www.youtube.com/watch?v=cZ7LzE3u7Bw)

[Ben]

Interesting.... As David Pakman points out: Mitt Romney IS NOT in this group. Nowhere near.
But the concentration of wealth is getting worse and worse. Or better and better if you're in the top 400 -- or the true ownership class.

6 of 400 Richest Americans Paid Zero Taxes - YouTube (http://www.youtube.com/watch?v=LY4IyPYgP9g&feature=plcp)

George Carlin says it's about 800 or so who control the country. Maybe, maybe not. But they're the so-called "rational" ones.
But we do have an ownership class.
And then we've the: political/managerial class who make up about 19.9 percent of the populace -- who are the middle class, well-educated, thoughtful, articulate, politically active and they serve the ownership class by participating in state or corporate management -- and then the rest are the vast working class or underclass.... And their function is to be diverted. Nothing more, nothing less. Ya know, give 'em football and baseball and Brad Pitt (he is hot) and enjoy all those great movies and let them toy around on the Net -- :)
This is a bit of an oversimplification. But it's how the system works.
So, there are people that run the country. And they AREN'T gonna let the country get out of control.

George Carlin on Real Time - Ownership Class - YouTube (http://www.youtube.com/watch?v=LblRp-cqjdw)

[Winkle]

The top 1% have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99% live. Throughout history, this is something that the top 1% eventually do learn - usually too late.

So much for the USA being the land of opprortunity

Please read the latest book by Joseph Stiglitz - still hope for us


http://www.guardian.co.uk/books/2012/jul/13/price-inequality-joseph-stiglitz-review

Have you read The Shock Doctrine?

[Ben]

Part and parcel of the profound problem.... Vid below -- :)
Even the late author Gore Vidal said that America is an oligarchy. And will always be one....
And, too, the corporate sector staff the White House, the Senate and the Congress...

Net Worth Of Congress - YouTube (http://www.youtube.com/watch?v=lVTp6TBiAC4&feature=plcp)

Carlin summed it up perfectly:

George Carlin -"Who Really Controls America" - YouTube (http://www.youtube.com/watch?v=hYIC0eZYEtI)

[Ben]

Have you read The Shock Doctrine?

Naomi Klein is great.... I disagree with her on some stuff. But, overall, she's deeply sympathetic, a good writer and, well, pinpoints the problems facing us....
I mean, the super-rich class, as it were, don't want a middle-class. It isn't in their RATIONAL SELF INTEREST.
I mean, a burgeoning middle-class (which I'm not altogether in favor of for a variety of reasons) makes them poorer -- ha ha ha! Sad. But true.
I mean, it's in their self interest to put in place policies that HARM the vast majority of the population. And this doesn't even begin to address the profound ecological problems we face... that the corporate class is largely responsible for....

Riz Khan - Naomi Klein Disaster Capitalism - 19 Sep 07 - YouTube (http://www.youtube.com/watch?v=dwM7TeE2ylU)

[yodajazz]

If anyone gave it some logical thought one can see that the wealthy benefit from a strong middle class, and even poorer people. I constructed a theorectical model. Take people who would start with nothing, but then be given a permanent steady income. One person gets job 1 million a year, but an equal amount would be 25 people making $40,000, or 40 people making $25,000. Look at the amount of consumer goods 25, people would purchase over 1 millionare. They would need housing, transportation, clothing, the whole gamut. The millionare could have an option of purchasing a European master painting, as an example. So I'm saying that the millionare would not have to circulate most his money in the US economy. But 40 people making 25K, would need work clothes, and eat lunch, etc. A system like healthcare profits over volume of paying customers. Goverment sponsored healthcare goes directly to them.

So people out there are putting, unsound info. I see it in poster's comments on internet news articles. Like for example, money given to poor people is like throwing money away. Poor people spend what ever money they have, for goods and services at the local level, the money circulates throughout the whole economy, with a good share reaching the richest. There even some religious tv evangelicals, claiming the Bible says its good for rich people, to keep more of their money, (paying less taxes). But Jesus, reached out to the poor and blessed them. Jesus even said, "That which you do, to the least of my brethren, you do unto me". Now compare with the current statments about people being rich, because they are more talented, or work harder. Poor people work hard, to survive, as well as others. Some people are putting out negative stereotypes, for the purpose of mind/political control.

[Winkle]

Naomi Klein is great.... I disagree with her on some stuff. But, overall, she's deeply sympathetic, a good writer and, well, pinpoints the problems facing us....
I mean, the super-rich class, as it were, don't want a middle-class. It isn't in their RATIONAL SELF INTEREST.
I mean, a burgeoning middle-class (which I'm not altogether in favor of for a variety of reasons) makes them poorer -- ha ha ha! Sad. But true.
I mean, it's in their self interest to put in place policies that HARM the vast majority of the population. And this doesn't even begin to address the profound ecological problems we face... that the corporate class is largely responsible for....

Riz Khan - Naomi Klein Disaster Capitalism - 19 Sep 07 - YouTube (http://www.youtube.com/watch?v=dwM7TeE2ylU)

Just shows you with the right tools at your disposal the majority can be manipulated fairly easily.

The guy at 6:00 particularly echoes my thoughts.......

http://youtu.be/e_6AaHT7ZSQ

[Ben]

Rich Pay Too Little In Taxes - Pew Poll:

Rich Pay Too Little In Taxes - Pew Poll - YouTube (http://www.youtube.com/watch?v=hylp7YqZPtM&feature=plcp)

Paul Krugman - Why Our Society is So Unequal:

Paul Krugman - Why Our Society is So Unequal - YouTube (http://www.youtube.com/watch?v=o_l24SvBg3M)

[Ben]

Inequality is Declining in Latin American and Sub-Saharan Countries:

Inequality is Declining in Latin American and Sub-Saharan Countries - YouTube (http://www.youtube.com/watch?v=Mu4q4c110xU)

[Ben]

Top Ranking Stock Analyst Calls for Mass Wealth Redistribution: Interview with Ronnie Moas:

https://www.youtube.com/watch?v=s2Na5ijTwOg