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AGelbert

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Re: Money
« Reply #540 on: December 29, 2018, 04:41:04 pm »
Do Most Americans Have a Retirement Plan?

In 2013, Wells Fargo surveyed 1,000 middle-income Americans earning between $25,000 USD and $100,000 USD a year, and asked if anyone planned to work until they died, or until they were too sick to work. They found that an astounding 37 percent of respondents were resigned to the fact that they would not be able to save enough to ever stop working. And an additional 34 percent figured that they would have to work until they were at least 80 years old.

A not-so-sunny future:

Fifty-nine percent 😨 of respondents said that their top financial concern was paying day-to-day bills. About 42 percent admitted that they weren't able to pay their bills and save for retirement at the same time.

Only 30 percent of those surveyed said they had a retirement plan. Forty-five percent said they didn't have enough assets to warrant having a plan, while another 25 percent said they didn't know how to set one up.

Around 75 percent of respondents said they were not confident that their savings would be safe if invested in the stock market. About a third said they would be relying on Social Security as their primary income during retirement.

https://www.wisegeek.com/do-most-americans-have-a-retirement-plan.htm

Agelbert NOTE: What needs to be done (but probably will not be done ) to stop the oligarchic, family impoverishing, Capitalist Madness in the USA:

֍ To begin with, all those now indebted due to health care costs or college loans whould have their entire debt written off by the U.S. Government. That amount would be a pittance compared with all the Zombie Capitalist Bank debt that was, for all practical purposes, written off by the U.S. Government in 2008 through ex nihilo money printing by the Fed.

Take the cap off the maximum income for Social Security withholding,

Begin to Social Security Tax "unearned" income (i.e. Capital Gains),

Use the CPI-E cost of living formula AFTER DOUBLING all current Social Security pensions (in order bring them to the purchasing power they have LOST in the last 35 years, since the Alan Greenspan CROOK adjusted the formula to severely understate inflation) to reflect reality and finally,

Fund the whole deal with a transaction tax of $0.001 on each and every stock purchase.

After that,

💐 The age for eligibility for Social Security needs to be dropped one year,

💐 each year, until it gets to age 1.  💫

💐 Obviously, the Social Security eligibillity requirement of a certain number of "working quarters" needs to be eliminated along the way.

🎍 As part of the above morphed Social Security Pension system (i.e. Transformation to a Universal Basic Income system), health care would no longer be a cost item. IOW, people, from the cradle to the grave, would go to a doctor, dentist or hospital when in need and never see a bill. The U.S. government would be billed. The government would pay health care professionals directly.

🕯️ All education, from pre-kindergarden child care to college and graduate education, would also become a no cost item.

It could EASILY be done.

BUT, the crooks and liars running the system 😈 👹 💵 🎩 🍌☠️🚩 (into the ground) just don't want to do it because they insist on irrationallly clinging to their failed CAPITALIST ideology. 👎👎👎



Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #541 on: December 30, 2018, 12:55:14 pm »
Treasury Secretary Steven Mnuchin has vanished

By Lincoln green 

2018/12/30 ∑ 09:17
 
I donít mean Mnuchin has literally vanished. If you could find him, you could no doubt still see him. What I mean is that Mnuchin has been missing from public view since his disastrous attempt a week ago to calm US financial markets as they were heading south, and thereís no telling if or when heíll reappear. Hereís a timeline:

Wednesday, December 19. The S&P 500 drops 1.54%, a bad day on Wall Street.

 

Thursday, December 20. Mnuchin goes on Fox Business Network and says ďThe market reaction is completely overblownĒ. The S&P 500 does a bit worse, a 1.58% drop.

 

Friday, December 21. The S&P 500 heads further south, dropping 2.06%, an exclamation point on the worst week on Wall Street since the Great Recession.

 

Sunday, December 23. Mnuchin calls major bank CEOs, who all reassure him they have plenty of cash on hand. Mnuchin releases a bizarre press statement celebrating the call. Was this his idea, or was it Trumpís orders? Nobody knows.

Monday, December 24, is an even worse day in the markets. The S&P 500 falls another 2.71%, the biggest Christmas-Eve drop ever. Mnuchinís press release takes much of the blame. Mnuchin himself is silent.

 

Tuesday, December 25, Christmas Day. President Trump is asked in the Oval Office whether he still has confidence in Mnuchin. He says ďYes, I do.  Very talented guy.  Very smart personĒ ó using the same ďvery talented, very smartĒ persiflage that Trump tossed off December 7 to describe diplomatic novice Heather Nauert, his nominee for UN ambassador. Mnuchin continues to be silent.

Wednesday through Saturday, December 26Ė29. Continued radio silence from Mnuchin. No press releases, no tweets, nothing 🙊😈. As of this writing, Mnuchin is not scheduled to appear on Sunday morning talk shows either.

 

 

 

Often the important news in Washington is what isnít happening, and you can see that by comparing Mnuchin last year to Mnuchin this year. Last year after Christmas, Mnuchin announced new North Korean sanctions, and retweeted Pence on how great the US economy was doing.

But now lower-ranking administration officials like Kevin Hassett are taking up the slack to do things like reassuring the public that the Trump shutdown should not damage the economy permanently. Although Mnuchinís defenders (such as they are) might argue ďHey, heís on vacation in Cabo San Lucas!Ē that vacation didnít stop him from making his bizarre press release, or from tweeting before his disastrous performance last weekend, so there is almost surely a deeper story here.

Every so often we hear about how Trump is unhappy with Mnuchin, such as reports in November about Trumpís disapproval of Mnuchinís choice for Federal Reserve chair. Itís easy to dismiss these reports, as Trump seems to disparage everybody. But the anti-Mnuchin drumbeats are getting louder, and on Wednesday CNN quoted an anonymous source close to the White House as saying ďMnuchin is under the gun.Ē

Mnuchin no doubt fears Trumpís petulant outbursts and knows that the best way to avoid them is to say and do nothing. And Mnuchin also knows that heíll be toast when the economy turns south, as Trump will surely make him a scapegoat for any recession. And even if the recent Wall Street downturn is temporary, Mnuchin will be in Trumpís crosshairs soon anyway, because as the IRSís boss Mnuchin has the legal responsibility to give a copy of Trumpís tax returns to House investigators when they ask for them, as they surely will next year when they look into foreign influence in the Trump administration. And although Trump will no doubt tell Mnuchin to defy Congress over the tax returns, Mnuchin has already signalled that heíll follow the law ó and at that point Trump will be so angry with him that thereís a good chance heíll fire him.

Does the name Justin Muzinich  ring a bell with you? If not, now might be a good time to find out more. Justin Muzinich was a key designer of Trumpís tax cuts for the rich, Trump nominated him in April to be Deputy Treasury Secretary after others declined the job, and the Senate finally confirmed him on December 11 so he will be a backstop if Mnuchin quits or is fired. However, Muzinich is a Bushie: he worked for Jeb Bushís 2016 campaign and seems to be more of a tax-cut guy than a circle-the-wagons-for-Trump guy. So he quite possibly will run into Trumpís short fuse sooner even than Mnuchin did, and itís not clear how well heíll be able to run Treasury in the brief time that Trump will give him.

In short, although Mnuchinís vanishing act should prolong his stay in the short term, until Trump leaves, the US Treasury will be on shaky ground due to an increasingly dysfunctional president and administration. This will not be good for American taxpayers or for the American people. Donít say I didnít warn you.

https://www.dailykos.com/stories/2018/12/30/1822282/-Treasury-Secretary-Steven-Mnuchin-has-vanished
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #542 on: December 30, 2018, 01:44:38 pm »

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #543 on: December 31, 2018, 05:07:09 pm »
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #544 on: January 03, 2019, 04:39:59 pm »
NICK YOUNGSON / ALPHA STOCK IMAGES

INTERVIEW  ECONOMY & LABOR

By VAIOS TRIANTAFYLLOU, TRUTHOUT

PUBLISHED December 29, 2018

In this interview, economist Richard D. Wolff discusses how market-based economies have had their critics since the times of Plato and Aristotle, how both major US political parties have become subservient to the gospel of capitalism and how technology isn't always constructive.

 

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #545 on: January 04, 2019, 03:52:07 pm »

Fri, 01/04/2019

Agelbert NOTE: Truth filled comments:

Quote

vofreason
Does anyone here think the markets won't react with elation as soon as the Fed acts the least bit supportive?  This idea that some shovel here that the markets will panic and fall when they see the Fed is desperate is nonsense I think.  It shouldn't be, but this BS market shouldn't be up half this high either .... but it is.  It's the one thing that makes me wonder if I'll ever get to buy again because every time we hit a worrisome, critical level we see buying that really looks like intervention.  I still think a panic could come because of algos and ease of computerized trading but I also think it will rip back because the Fed will be as irrational as they have been or more.  It's not like they're going to say "well, we tried but we better take our medicine now because this didn't work and is irresponsible".

Any real trader will tell you that the markets acted completely differently before 2008.  Now whenever they hit key technical levels they rip the other way instead of following through and they do it indiscriminately.  Any legit buyer would take their time and absorb what they could without running the price up but they don't .... just like how the big orders come into the gold market at times with no liquidity during off hours.

The whole thing stinks and they're probably using our tax money to prop up the markets and making us pay much more than we should just like in Japan.  Everyone should be furious about it if they understood it and it creates this boom bust cycle instead of letting us calmly invest with confidence over time.

     billbegnen
     Wisely lamented. To which I can add only, "this too shall pass."

     LawsofPhysics
     It's much, much worse...
     the MATH behind keeping the market where it is and all the various operations of the U.S.A. functioning, not to
     mention the 200+ trillion in unfunded obligations, means that hyperinflation, at least behind the curtain and on the
     central bank black books, is well underway...

         I can't see it any other way (hyperinflation) as we know they won't be reasonable, admit their failures and just
         go back to market clearing forces.  They will have no choice but massive QE of some unimagined kind ..... but I
         also would have thought they wouldn't have been able to keep it up this long or some reasonable voices would
         have stepped in already.

            vofreason
            The "professional" community is just horrible as they know how ridiculous all this is and have hardly voiced
            any criticism when they should have demanded a stop to it long ago.  They don't even slightly acknowledge
            the absurd hypocrisy of constantly saying "the markets are fundamentally great ....... but we still need
            emergency measure stimulus".


Read more: 🤔   

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #546 on: January 06, 2019, 12:00:24 pm »
Why are People Talking About Socialism? Ė with Paul Jay

January 2, 2019

From Donald Trump, Karl Rove, and Fox News to an invigorated progressive movement and many newly elected members of Congress, many are saying that socialism will be the issue in the 2020 elections Ė a viewer mailbag segment with Dharna Noor and Paul Jay

Story Transcript 🕯️

DHARNA NOOR: Itís The Real News. Iím Dharna Noor. And Iím back in the studio with our editor-in-chief, Paul Jay.

For the past few days weíve been taking a look at viewer questions and comments from The Real News Network. And weíre here to discuss some of those. Howís it going, Paul?

PAUL JAY: Good.

DHARNA NOOR: So we recently were looking at a segment that you did with Francesca Fiorentini on November 2, which was called Trump Defines Socialism as a Key Issue in the 2018 Elections. And often when we put socialism in a headline or discuss socialism in pieces we get lots of viewer comments that are pretty skeptical. They say socialism doesnít work, itís never worked. Look at, for instance, a country like Venezuela. What goes through your mind when you see things like that? Whatís your response to those sorts of critical viewers?

PAUL JAY: Well, first of all, let me say again what I said to, you know, some of the other mailbag things. Iím giving you my opinion. Real News does not have an opinion on whether socialism is a good thing or a bad thing.

DHARNA NOOR: But Paul Jay might.

PAUL JAY: But I do. And Real News does have an editorial guideline that we should try to follow evidence and facts. And so my response is, and may be the the most common one these daysĖand by the way, everybody all of a sudden thinks socialism is the thing to talk about. Trump, as you said, itís the issue of the 2018 elections. Karl Rove 😈 wrote an op ed saying itís going to be the issue of the 2020 elections. Fox News 👹 canít stop talking about socialism, of course, how bad it is.

DHARNA NOOR: And the Democratic Socialists of America has grown in membership. We have people really excited about Alexandria Ocasio-Cortez, a self-avowed democratic socialist.

PAUL JAY: Who Tom Perez says is the future of the Democratic Party. Thereís arguments about what is social democratic socialism versus socialism, and so on. So itís a big topic. Everybodyís talking about it. And so weíre weíre going to talk about it too. And the reason I think everybodyís talking about it is not because socialism failed in Venezuela, which is a particular case. And it did, in a sense, fail in Venezuela. But weíre talking about it because capitalism is failing. And the reason socialism has come again to such a forefront of conversation is because capitalism is out of solutions. You can barely talk about an area of life which is critical to our existence, whether itís climate, whether itís the threat of accidental nuclear war, if itís the threat of financial meltdown and financialization, whether itís the coming of artificial intelligence which, at the very least, could be replacing millions and millions of jobs. Mass unemployment. Like, take all the big picture questions. Capitalism is not offering solutions to any of it.

But letís say, yes, socialism failed in a lot of countries where it was attempted. But before we kind of get into that, capitalism has failed on a far grander scale. Because you got to ask, you know, capitalism succeeded for whom? Failed for whom? Capitalism gave us World War I, and capitalism gave us World War II. Capitalism has given us endless wars since World War II. I mean, you know, you can go on, from Vietnam, to Korea, to Iraq and Syria. I mean, you canít endĖcapitalism has given us endless numbers of outright fascist dictatorships. Capitalism gave us Hitler. Capitalism gave us Mussolini. Go on with all the Latin American dictatorships and capitalism gave us kleptocracy in Africa. You go on and on. Capitalism has been, for most people, a disaster, and continues to be for the majority the people of the world. 


Now, if youíre an American, and particularly if youíre a white American, but not only, capitalism hasnít been so bad until recently. Especially after World War II, there was a big expansion of the United States. The United States became the global hegemon. The United States grew into a position where it could essentially plunder much of the wealth of the world. And the elites, the oligarchs the United States, did share some of that wealth; at least with the upper stratum of the working class. You know, workers living and working in critical areas of the economy. The auto industry, transport, telecommunications, where workers had real leverage, because if the workers went on strike in those sectors they could close down whole sections of the economy. And of course the Democratic Party, that was an important base for the Democrats to get elected, this upper stratum. Some people called it the labor aristocracy.

So yeah, so capitalism workedĖand even you could say empire 🦍😈👹💵🎩🍌🏴‍☠️🚩 workedĖfor a large section of the American population for quite a while. Western Europe, for a lot of period of this expansion, most of Western Europeís standard of living was pretty good. The kind of social democracy that developed in Europe, which is important to distinguish that from what most people think socialism is. Social democracy, European style, the governments that came to power, is essentially just reining in some of the excesses of capitalism. Thatís their words. But it continues concentration of ownership, private ownership, and concentration of political power. And you can see even in Europe eventually, you know, the savagery of capitalism asserts itself as soon as you brought online the availability of getting cheap labor from China and other places, and you could start undercutting the wages both of American, Canadian, and West European workers.

So when you start assessing whether socialism failed in a Venezuela, or even a Soviet Union, or whatever, we have to first of all acknowledge that yeah, more or less, it did. I think one example which I think was, you know, relatively positive was Cuba, but a tiny place that could never withstand the global forces without some big ally. Cubaís a long conversation. Itís certainly no utopia. But the main point is that when we look at this issue of what socialism is, and does it make sense, and is it possible, the starting point is the absolute failure of capitalism. Even though, sure, it made some people rich. And somebody wrote in we have cars and nice houses. But how many people lost their cars and nice houses in the 2007-08 crash?

DHARNA NOOR: That was Mike Newman commented.

PAUL JAY: And thatís coming again.

DHARNA NOOR: So I think, again, there are viewers who are writing in and saying that this is kind of a whitewashing of socialism. Somebody wrote in saying, well, coming from a socialist countryĖthey donít say which oneĖI can tell you that itís terrible, very very bad, but not so different in some aspects from the U.S. present system. And evenĖI mean, Francesca, in your segment with her, mentioned that the basis of the Venezuelan economy, though of course more democratic, was based on the extraction of oil. Which, of course is, I think we can both agree, a flaw of Venezuela. So whatís your response to people who say, well, I lived there, or I went through it, and it wasnít so great?

PAUL JAY: Well, you know, you have toĖand I havenít walked a mile in those peopleís shoes. And for example, if you were living-

DHARNA NOOR: Youíre from Canada. Thatís not a socialist utopia?

PAUL JAY: No. And that is an important point, actually, that just because you have a socialized healthcare system doesnít make the country socialist. But listen, if I had grown up in the Soviet Union, if Iíd grown up in Eastern Europe, if Iíd been who I am, I mean, I could likely have been in jail. So I understand the sort of anger and rage, even, people had to how bureaucratised, especially in the Soviet Union and Eastern Europe, it got. The extent to which it became very much like a police state. I think itís sometimes exaggerated, especially in Eastern Europe. I think itís very exaggerated in Cuba. Itís, you know, Cuba is a kind of unique situation.

But Venezuela, just to take it, because thatís the one theyíre talking about all theseĖsocialism is not just somebody has a good idea, oh, letís have, letís have a socialist system, any more than capitalism was just a good idea. Oh, feudalism. Yeah, kings, and aristocracy, and lords. You know what? Iíve got an idea for a whole new system. Letís have capitalism. It doesnít begin as an idea. It begins as an objective process of how human society develops, and how human economy, the economies of human society, develop. And you know, we learn how to make tools, and now we donít want to haveĖyou know, our tribal society that was built on just gathering berries and, you know, running around chasing animals. All of a sudden we had agriculture and animal husbandry. And our society changes. And with that the ideas change. So we start to become conscious of whatís possible because of objective developments. Itís not all just springing from peopleís heads.

So to apply that idea to Venezuela, I mean, Hugo Chavez comes to power because neoliberalismĖand one of the first big mass protests against this hypercapitalist policies was in Venezuela prior to Chavez getting elected, and prior to his involvement in the attempted coup. But these policies were destroying Venezuela. And people, you know, they rose up against these policies. Hypercapitalism wasnít working. And the exploitation of the oil resources was, you know, a tiny elite was benefiting from it, and people were conscious of this.

So sure, socializing the benefits of that oil, it was obvious as a way out of the situation. You have a movement, and you have leaders that emerge from the movement, and it is what it is, meaning, you know, it wasnítĖthey didnít have some great worked-out plan. It wasnít you know a party where they had economists and all kinds of people to figure out what to do once you get elected. You know, stuff happens. They may have been been as surprised as anyone that they actually wound up running the country. And with all its defects and all its weaknesses and all its warts, the Venezuelan or Bolivarian revolution, it accomplished a lot. And it wasnít just about spreading more of the oil money around. There was, and I guess still isĖI havenít been for a while, and I donít have the same kind of a handle on itĖbut the kind of community decision-making, community governance at the local levels. There was a, there were real experiments and development, developing different forms of democracy, which has to be part of the socialistic conversation. Because, like, you have a big state-owned sector in China, right. But you donít have any democracy to speak of. And you have a class of billionaires that have emerged that run the Communist Party.

So I donít know what kind of socialism it is. Itís not socialism just because you have state ownership. And on the other hand, thereís a certain amount of planning going on in China. Peopleís standard of living is going up. These are complicated processes, and we need to analyze them as such. But Iíll go back to where it was in the beginning. The reason we need to have this conversation of what does a modern socialist system look like, and how will it operate, and what are the features of itĖyou know, we talk about even the United States is a mixed economy. Thereís socialistic features. Weíve got a publicly-owned post office. We have public libraries, and schools, and such. Why? Because it made so much sense. But the same sense that it made to do that has made sense to have socialized healthcare in virtually every advanced capitalist country. It makes sense here. But once that makes sense, so does banking. Why would you let big banks 👹💵🎩🍌🏴 blackmail the whole society and whole economy so that they can go speculate? So it makes sense. You should have socialized banking. 

DHARNA NOOR: Yeah. Or here in Baltimore, Baltimore recently became the first major city in the U.S. to ban water privatization. And in my reporting on this I found a lot of peopleĖpeople in Baltimore are generally pretty fed up with the Department of Public Works because there have been so many instances of, you know, false bills that have been sent to people. The price of water has gone up so much. And so many people I spoke with would say, well, public ownership shouldnít really be on the table because, you know, we have a publicly controlled system right now. Itís not doing very well. But I think the point that I want to make is that just because not privatizing doesnít fix everything doesnít mean itís not the right first step. I mean, the statistics show that the price of water goes up across the United States when a private 😈 system does come in.

PAUL JAY: And thereís cities that privatized and went back again because it was such a failure.

DHARNA NOOR: Sure.

PAUL JAY: I guess I just want to end on where I started. Itís not just some intellectual conversation, is socialism good or bad. Yeah, thereís beenĖas, frankly, any major transformation of human societyĖthereís going to be tremendous fallout and weaknesses and stupidities. Especially if you talk about the Soviet Union building, trying to build socialism in what was a very backward country. And that was a matter of great debate at the time.

But we need to look at this. We need to talk about it, because capitalism has failed. Itís failed most of the population of this world for at least the last hundred years. But most importantly, it has no solutions to the actual threat to us as human society. Capitalism is completely out of steam with the most urgent threats facing us. So this is not just some idea, I mean, cafe conversation. This is about our existence or not. And unless somebody has some other idea, and I donít think there is, when you look at what there is, you need to take whatĖyouíve got to break up the concentration of ownership. Because with concentration of ownership goes concentrated political power. Everybody understands that. But thereís no way to weigh against that without public ownership. How else do you break up concentrated ownership? Itís not because youíre going to give everybody a share of a company. Thatís not going to happen. The only counterbalance, counterweight, to concentrated private ownership is public ownership.

On the other hand, public ownership in a small number of hands, like a single-party state or some of the models of the 20th century, thatís as dangerous. Because concentrated power, even if itís in the name of socialism, will also be a disaster. Will be aĖyou know, become a dictatorship. Because concentrated ownership equals concentrated political power. So weíve got to look at how does this public ownership look in a way thatís very diversified? You know, whether itís ownership at a city level, at a state level, at the federal level when necessary. Whether itís workers co-ops, whether itís regional conglomerations.

But you know, but Iíve said this before. Weíre in an era now, because of artificial intelligence, where you could coordinate an economy like that. You could have a Green New Deal which is mostly built out of public ownership in many ways, so that it doesnít get too concentrated, and still coordinate that. I donít think it was ever possible in human history to have the kind of socialism that could also be democratic. And as I said before, I donít think thereís any choice to this. The alternative is weíre not going to have civilization at all.


DHARNA NOOR: Right. Thanks very much, Paul.

Again, weíre in the middle of our end of the year fundraising campaign right now. Weíre going to keep doing this. Paul and I are going to keep discussing your viewer comments and questions. So if you have any comments or questions about this or anything else, put them down below, and please support The Real News Network. We donít take any corporate funding or government funding, and we donít sell ads, which means that the only people we have to answer to are you. So please help us make Real News, and stay in touch.

Thanks, Paul. And thank you for watching The Real News Network.

https://therealnews.com/stories/why-are-people-talking-about-socialism-with-paul-jay
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #547 on: January 07, 2019, 10:03:35 pm »
Nobel-winning economist says Ocasio-Cortez tax policy is Ďfully in line with serious economic researchí

written by Martin Cizmar / Raw Story   January 6, 2019

https://www.alternet.org/2019/01/nobel-winning-economist-says-alexandria-ocasio-cortez-tax-policy-is-fully-in-line-with-serious-economic-research/


Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #548 on: January 08, 2019, 12:32:09 pm »
Tue, 01/08/2019

Authored by Ambrose Evans-Pritchard via The Sydney Morning Herald

SNIPPET:

Quote
The balance of probabilities is that the world will muddle through 2019 without any of these landmines detonating. Yet the drift of events is clear. The Western liberal order we took for granted at the end of the Cold War is under existential threat.

Read more:


Agelbert NOTE: Truth filled comment by He-Mene Mox Mox.

Quote
He-Mene Mox Mox
Trump 🦀 is severely handicapped at negotiating anything. He never was schooled on it, and has a bulldozer mentality, which doesn't go well on the international scene. 

And, he doesn't seem to understand that America is no longer #1 in manufacturing, or in military might. So, those options aren't going to help him in economic negotiations, or in power projection through-out the world. 

What he is about to get slapped with is a financial collapse of the dollar, and he is no way prepared for it. Lose the value of the dollar in international trade, and you can kiss whatever is left of the American economy goodbye.  Then Trump will be in the doghouse, getting blamed for it. 

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #549 on: January 08, 2019, 07:09:52 pm »
Economic Update: Capitalism: Slow-Motion Implosion

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Democracy At Work

Published on Jan 7, 2019

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Economic Update: [[S9 E01] Capitalism: Slow-Motion Implosion

THIS WEEK'S TOPICS (w/timestamps):

00:54 - Updates on Canada cutting corporate tax rates in a race to the bottom;

05:31 - Macron pleases big business while outraging the French people;

08:02 - Italy's new gov't budget provides for its people;

10:26 - Hillary Clinton joins the right in scapegoating immigrants;

12:45 - and how "quantitative easing" policy after the 2008 crash made the rich richer;

14:11 - announcements.

15:11 - SPECIAL GUEST: Interview with Dr Harriet Fraad on the psychological implications of the US mid-term elections.


To watch the second half of the interview, please visit us at https://www.patreon.com/economicupdate

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Category News & Politics
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #550 on: January 09, 2019, 02:34:53 pm »
 

They 👹🎩🍌 Are Cornering The Market

Posted on January 8, 2019 by Fantasy Free Economics

SNIPPET:

So the middle class and below, might ask, ďWhy would I not want the stock market to go up?Ē ďWhat harm can that possibly do? The practice of politically managed stock markets will destroy every economy in the world.

That is because managing the stock market prevents the economy from eliminating waste.  It also guarantees a situation of resources being massively inefficiently allocated. Do not mistake the Deep State for a social or political philosophy. It is a crime syndicate with a negative utility to society.

Read more:

http://quillian.net/blog/they-are-cornering-the-market/

Agelbert NOTE: Wealthy People outside the USA, observing closely this obviously hyperinflationary gaming of the U.S. Stock Market, are beginning to react accordingly (see below).


 

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #551 on: January 09, 2019, 06:07:31 pm »

What Is a Marginal Tax Rate? The Rich Are Misleading You.

KEVIN MATTHEWS, CARE2

When Alexandria Ocasio-Cortez 👍 recently floated the idea of a 70 percent marginal tax rate to help pay for a "Green New Deal," the panicked response from Americans exposed an important truth: Most people don't understand how tax rates work. The rich and powerful are exploiting that lack of knowledge and the complex nature of marginal tax rates to put forth false narratives about its impact.

Read the Article →
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #552 on: January 09, 2019, 07:21:52 pm »

Janary 9, 2019

Republicans are scared. The incoming group of progressive U.S. Representatives represents a massive shift away from business as usual in Washington.

One newly-sworn in Representative, Alexandria Ocasio-Cortez (D-NY), is under fire from Republican lawmakers and Wall Street alike for her calls for a 70% marginal tax rate on incomes over $10 million. But a 70% tax rate on the top income bracket is not at all new. In fact, it was that rate in 1980, and in the 1950s and 1960s the top tax rate was 91%.

So why is Rep. Ocasio-Cortez under attack? Republicans are scared that a young, powerful, woman of color is about to disrupt Wall Streetís lock on Congress and have the American people cheering alongside her.

Americans overwhelmingly believe that the wealthy and corporations need to pay their fair share of taxes. (Thatís a major reason Trumpís tax cuts were such a flop in last yearís election.) And when they do, we can invest in our countryís future including expanding access to healthcare, universal pre-K education, a Green New Deal, infrastructure and more.

Americans for Tax Fairness is providing activists and elected officials alike with the research, advocacy and mobilization to back-up our demands that the wealthy and corporations pay their fair share. And we need your help to support our champions in Congress as we work together to repeal and replace Trumpís tax scam benefiting the well-off.

WATCH: Rep. Alexandria Ocasio-Cortezís interview with Anderson Cooper


Americans for Tax Fairness is providing activists and elected officials alike with the research, advocacy and mobilization to back up our demands that the rich and corporations pay their fair share. And we need your help to support our champions in Congress as we work together to repeal and replace Trumpís tax scam benefiting the well-off.

https://secure.actblue.com/donate/ac360aoc
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #553 on: January 11, 2019, 12:35:36 pm »

Quote
hedgeles_horseman 👍
Valuation 🔥 inferno?
lol

What is the SP 500 valuation?  Whatever Simon Potter 😈 wants it to be.


Seriously.

The 33 Liberty* VFD** 😈💵🎩🍌🏴‍ responds to any and all valuation infernos by blasting them with their tanker trucks of 💵🍌 liquidity.

* Federal Reserve Bank of New York 33 Liberty Street New York, NY 10045.

** Volunteer Fire Department   



Quote
James diamond squid 👍
Here we go again.  Zirp, nirp, qe. price fix the bond market and force risk and elevate price on every other asset. Price fixing works until it doesn't and then it blows
💥 sky high. The cork on interest rates could last a day or a few more decades, but that cork will not hold forever. ...

Yep.

« Last Edit: January 11, 2019, 05:26:54 pm by AGelbert »
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #554 on: January 11, 2019, 02:35:23 pm »

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

 

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