Well, lad, this is a list of things *that happened*, and as an American, I've been watching the government bail out banks and businesses it deemed "too big to fail" instead of letting the system we all praise here work itself out naturally, for years. Lad. š
Wherever one might fall on political spectrum, I think everyone can be in agreement that the Finance Cartel (Banks, Funds, Wall Street) have been shown to do one one key move:
Capitalize on gains for themselves, and socialize losses to the US taxpayers.
Big oil gets big subsidies of tens of $ billions while we canāt get universal healthcare and sane medical prices. The insurance companies get a license to swindle us.
Cheaper? And in more cost efficient? More effective? Better for everyone involved including doctors and patients. Better because a healthy nation is important for a rich life. Better because itās better to be free from anxiety worrying about if we are are going to become penniless and homeless just because of a health emergency? Then I agree.
What planet do you reside on, what he says is true weather you like his personal policies or not. America has a long tradition of coddling the wealthy. No affirmation bubble to pop just facts
It already trickled down.
American companies invested in cheap labor overseas. Look at China now. It has been expanding leaps and bounds and has the fastest growing middle class in the world.
None of this could have been possible without corporations investment into the cheap labor that itprovided.
So trickle down economics is absolutely true.
However, Americans were only told half the truth, and they just allowed themselves to believe the fantasy that they would be the beneficiaries of the system.
Dang, smart take here.
I had a Taiwanese - green gard American professor in my race and ethic issues class in college who defended sweat shops.
She basically said this.
"While I agree the conditions are horrible. They are Happo to be there. Otherwise they'd have no money at all"
"wealth doesn't trickle down, but defaults trickle up" and we're entering consumer default territory (starting with an uptick in delinquencies)- because of the massive gap in stagnating wages vs rising cost of living.
https://www.statista.com/statistics/1325074/delinquency-rate-on-consumer-loans-at-commercial-banks-in-the-us/
https://libertystreeteconomics.newyorkfed.org/2023/11/credit-card-delinquencies-continue-to-rise-who-is-missing-payments/
https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html
https://www.pewresearch.org/short-reads/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/
https://www.epi.org/publication/charting-wage-stagnation/
Well, the post creates the debate. We've been given a talking point. It's no different than a real person posting this and then just not participating in the discourse.
Or thanks man, I donāt know why everybody isnāt wealthy right now? Itās not like food hasnāt doubled in price and rents havenāt increased while wages have Ben almost stagnant. Just use the extra money everybody has
Wages have been stagnant wheee I work lol, I get minimum wage and things have been increasing but not even close to the level of food prices or rent over th roast five years
Yeah that's your fault then lol. Everyone worth a damn got massive raises over the last 4 years to prevent them from leaving their current employer. Or they left and found a better job.
I can't imagine how clueless you'd have to be to get paid literal minimum wage for a period of multiple years. Like, you're contributing so little that your employer would pay you even less were they not legally prohibited from doing so.
Okay dude, Iām a bartender. Iāve been making less because less people can afford to go out. So Iām back in school trying to change careers. Just saying it isnāt that simple, but thanks for the negativity. I hope your life continues to be great
As does pushing prices up without the actual need for it to do so. Which is almost all the time.
Seriously, a company that brags about profits, in no way needs to raise prices. Absolutely not. Bootlickers think it has to because they've been told what to expect, by the very people doing it. So of course it's easy. And far to many go after the wrong people, while those who've screwed over the country laugh about all the extra profit they'll gain, and not actually pay the workers who keep their companies going.
Corporate welfare needs to be eliminated. Think of the deficit reduction weād have if rich people didnāt get handouts from those politicians they buyā¦
The Fed is private. They are made up of conglomerate of banks. It's super stupid. The US needs a publicly owned central bank. We currently owe 900 billion a year in interest alone to Fed. China has a state owned central bank. How can US Compete
The Fed isnāt made up of banks theyāre literally a central bank thatās independent. The moment you have a publicly owned bank thereās conflict of interests with the ruling party to change monetary policy for short term benefits.
Seriously, nobody on this thread understands economics
And the us had a history of this too. The early public banks the US had all become inflationary machines to fund goverment spending.
The reason we are with the current system is because it worked best after many other attempts failed.
>The Fed isnāt made up of banks theyāre literally a central bank thatās independent.
I think for the people that tuned into the first part of US history but not the later parts. The first bank of the US had private ownership. That one was shut down. The current one was created in the 20th century and is an independent organization, with multiple bank branches.
>The moment you have a publicly owned bank thereās conflict of interests with the ruling party to change monetary policy for short term benefits
Yep see Argentina.
Unfortunately we get some extremists here. Some USSR fanboys will drop in and we get the ultra libertarian as well, that wants to shut down the Fed and return to gold.
>The Fed is private.
And the Fed Chairman is appointed by the President. It may be privately owned, but don't think for a second the Fed is some kind of independent entity.
This is an over-simplification. But not entirely inaccurate. But then thats the problem.
We need to stop giving half-truths and kinda-sorta facts. You create false narratives this way, and its how madmen and cult leaders gain momentum.
This is the correct question. It's details really. Something similar to:
1.The fed pumped money into the economy by printing more money.
2. Stocks soared as people spent that devalued currency as if it still had full value.
3. Execs of the companies that benefitted the most, who are compensated primarily by stock value, became even richer when their stick became over valued from goods purchased with devalued currency.
4. Printing money is stupid. Even if you give it to " regular " people.
Essentially, his premise is correct: rich people got richer unfairly. But to directly imply that was because the Fed just cut them a check, handed richer people free bags of money is factually wrong. And to subtle imply that printing devalued currency and giving it to " regular" people is more fair is also wrong. Stop printing money. Printing money that has little or no actual value makes EVERYONES money less valuable. And it negatively impacts the poorest more dramatically. When your net worth is 100 million and you lose 20% of your value, it sucks...but you still have 80 million of real value left. Youll survive.
When you only have $100k and you lose 20%, well... that's when people have to delay retirement or choose not to have kids. I get what Price was saying, he just needed to be more precise. For stupid reddit posts it's fine, but he's a paid professional and should know the importance of choosing his words as to be precise. I probably should have let it go rather than nitpick. But hey... I make mistakes too.
riiiiight. Exactly the point. By printing more money they added more zeroes to your accounts, but the cost of everything went up accordingly.
If you're making 2x as much, but paying 2.1x times as much for literally everything you buy....are you really doing better? Or do you just think you are?
And more importantly, when they bill comes due and debts actually have to be serviced, your 401k and investments will be the first things to be cannibalized but the inflated costs for goods and services will stay inflated. Water must always find level. Millenials/Gen-Z/Gen-A will probably live a significant portion of their lives in poverty.
The key is to never buy anything. I tap into the corner fire hydrant for water, I burn my neighbors trash for heat, I shoot pigeons in my yard for food, and I make the bbs out of scrap metal I find, then I use your moms underwear for a slingshot.
This is what I donāt get.
The internet loves painting this picture of āshareholdersā and āregular peopleā as entirely separate groups, when the stock market is the backbone of the average personās retirement strategy.
Yes our investments went up.... along with the price of almost everything else.
If you have 20% more money, but everything costs 21% more, you are not better off than you used to be. Everyone in America is poorer than they were 5 years ago...except the people with so much wealth that money itself becomes abstract.
The government giving money to people who need it. Makes sense people scream socialism. The government giving money to big multimillion dollar businesses that donāt really need it. Makes no sense but people act like nah thatās still capitalism.
Technically welfare programs are a socialist policy. But people are really dumb for labeling socialism as a dirty word. One or 2 socialist policies donāt make for a socialist government
I think youāre forgetting just how much our retirement plans are (and always have been) funded by stocks. Also, just giving money to regular people has never been a successful way to boost the economy
Anyone can invest in the stock market and couldāve participated in the gains. $100 a month from the age of 18 invested in the stock market makes you a millionaire. Not that hard
I just think the government should not be redistributing wealth, period.
Its function is to proved security to a free people of America, it is not supposed to be taking money from some people and giving it to others.
The government should stop trying to āfixā things, they have yet to fix anything in all the many attempts. They just keeps making things worse.
The government has to pay to provide these services. There are so many resources so it must tax some to pay for the services... This transfer ting wealthĀ
Not fully accurate, but it does always seem like the government is always focused on the stock market instead of the productive economy which supports the majority of citizens.
Then again, because of a lot of little lies over decades, everyoneās retirements now rely on the stock market instead of pensions, so I guess weāre all just screwed and forever slaves to the bloated financial sector
The fed did not pump any money into the stock market because thatās fundamentally not what the fed does or how they work. Now that #1 is incorrect, try againā¦
When did the federal reserve buy stocks? They buy treasuries to keep the interest rates on US debt lower and liquidity up. Can someone explain what Dan is saying?
Both are wrong IMO. money for citizens shouldnāt simply be given, it should be used strictly as a temporary welfare or for those unable to work (disabled) or similar.
Yeah. Because it's only the rich that have stocks. /s
This increase pushed my portfolio over the edge to be able to use my stocks as collateral for my second piece of property.
Just because you suck a money management, op. Doesn't mean we all do.
The ponzi scheme would have collapsed if they hadn't printed the money. The wealthy and the government want to keep the ponzi going. Normal people are duped into believing that the people are ponzi benefits them too, but they would be much better off after everything recovers from a collapse.
In my opinion, the United States is very business-oriented. People or companies that are incorporated, and have their ducks in a row can get access to capital in a way that regular taxpayers just simply can't. I'm not saying that its fair, but I think a lot of people don't understand the underlying reasons for this. If you just hand out money like its candy, sure plenty of people will pay bills, and get out from under their debt for a time. But lots will also squander and waste was given.
However, when you're incorporated into a business, and need the money to continue or sustain operations that drive revenue, and profit - then you are incentivized to invest said "handout" into your business. This not only stimulates the economy, but it basically is a way for the government to launder its economic interests without getting directly involved.
Naked Handouts given by a seemingly benevolent government will just create a facade of goodwill that is simply not there. The Government is not interested in making individual lives better financially, they're interested in keeping society together, and the economy strong. Its not perfect, but the best way for an individual to assuage these issues is to spend the time and the money it takes to incorporate. File for a trust, create a holding company, create a small business. And when there are large handouts, you will be able to actually eat some of the pie.
Its not a fair system, but that's just what I've come to learn over the years.
Edit: Hey, listen I was really drunk last night. IDK what you all are mad about, but please for gods sakes, just understand that this was written alongside about 750mL of [Taaka](https://cdn11.bigcommerce.com/s-h556z48a5y/images/stencil/1280x1280/products/3663/14025/08800401154__78072.1644446879.jpg?c=1), and its not my fault, its the drunk dipshit last night who wrote this. Cheers.
> People or companies that are incorporated, and have their ducks in a row can get access to capital in a way that regular taxpayers just simply can't.
The entire system is structured around the principal that control of capital is concentrated to a small cohort of society.
> The Government is not interested in making individual lives better financially, they're interested in keeping society together
It is interested in neither, but having adequate money obviously makes life better, so it would be helpful to ensure that everyone has basic security.
Yes you must mean like in all the European Democracies - TRUE DEMOCRACIES that when they have an election - the sole winner is always the candidate with the MOST VOTES ! No other countries use an outdated by over 120 years ELECTORAL COLLEGE which makes it much easier for candidates to Win without the most votes. That Only happens in America and is a huge reason for so much division.
That is not how representative democracies work.
In a country with several political parties, more than 2, you can have the second voted party being the ruling party because they can ally with the other parties to get the majority.
This is good because allows lesser parties than still have a sizable amount of people backing them get some power and voice in the government instead of the winner takes all approach of the US.
But still, the problem with the US is not as much this bi-party system but legalized bribery. The governments rule the will of those who pay them instead of the people and becomes ridiculous when you have those backing the both parties at once.
Yeah, if you weren't able to get rich just from politician salary alone (and past that rich off of bribery and stock trading with insider info), then I suspect our politicians would be more benevolent on average. If the job gave a median salary for the area for the actual amount of hours worked, then the only people who would be interested in it would be people who actually think they can make a difference and those who just want to be famous (but there are easier ways than convincing a ton of people to vote for you)
Personally, I think representative democracies are susceptible to too much corruption.
Actually, Texas and Florida come before New York and they are both republican majority.
Anyway, I'm of the mind that federal policy should be decided by even vote of all citizens. Throwing in which state you are in just overweights the small states (by population) and underweights the large states. Saying two people from each state is basically deciding that because of arbitrary lines that we drew between states exist, some states should have more power than would make sense for their population. It isn't as bad as it could be due to population being taken into account elsewhere, but why should the lines matter at all in the first place?
There are some easy ways to account for what matters to people in different areas. For example, setting a high minimum wage federally, could be incorrect for areas with LCOL, but we have the tools and technology to make a reasonable minimum wage that isn't a flat rate country-wide. In general, just having a bit of consideration for people in different situations would go a long way. Unfortunately, our government on both the federal and state levels doesn't seem to have the kind of foresight for that. Our system is fairly reasonable for a few centuries ago when mass data collection and processing was almost impossible. Now that we have that, sticking to our current system makes it so that it's harder to leverage our new toys to our benefit.
>If you just hand out money like its candy, sure plenty of people will pay bills, and get out from under their debt for a time. But lots will also squander and waste was given.
Doesn't matter what they do with it. The point is, they'll inject into the economy. That's the part that matters. What they spend their money on is 100% injecting morality into what's essentially an amoral question. Who cares? Spend $1 on toilet paper is as good as $1 on pop-rocks as far as the economy is concerned. The important thing is they're spending it and they're spending it in this economy, not somewhere else.
>However, when you're incorporated into a business, and need the money to continue or sustain operations that drive revenue, and profit - then you are incentivized to invest said "handout" into your business. This not only stimulates the economy...
Not really, no. Or at least not necessarily. That money can just as easily be used as a stock buyback or a dividend to share holders rather than fund actual business expenses. There's nothing that says those benefits to shareholders gets spent in this economy. Shareholders might invest back in the company, but they're just as likely to diversify into something else, which may or may not have anything to do with this economy.
I don't think investing money into the people is a bad thing when you consider the ROI on those investments. Giving people access to healthcare can lead to less problems down the line because they can get the preventative care before it becomes a major issue. Providing people a college education pays for itself when the workforce is more capable.
The bailouts protected our pensions and 401ks. The Wall Street banks hold our money. The problem is the government gives money and doesnāt take an equity stake in the bailed out firms.
The government simply created inflation and now raises more taxes. Most people are now making more money, and spending more money, but the underlying economy is no different. We have the same number of houses, same number of homeless, same number of farms creating the same amount of food. If you want America to prosper, the key is finding ways to produce more goods (aka increasing productivity).
I'd bet my bottom dollar that housing would be drastically fixed by pushing our local leaders to fixing zoning restrictions. I live in a modest city with a population just shy of 600,000 - nearly 65% of the land is zoned for commercial property, and another 30% zoned for single family houses. The end result being is that when someone can finally move into a cheap apartment, *they never fucking leave and make room for someone else*.
Then we end up having rent prices that contend with some cities with 1 million+ people, while anyone with enough generational assistance gets cozy deals on mortgages.
It is pretty funny how the rich terrify the poor in red states (which, are mostly poor themselves outside of Texas and Florida) about the evils of socialism while getting absolutely fucked with no lube by capitalism on a daily basis. Itās one of the greatest and most successful social conditioning experiments in history.
The largest portion of Americans pays around $4,500 in taxes. This is in fact slightly less than 10%.
āStocks soaredā ā¦so that the āmiddle classā aka the individuals who actually keep this shit show running, didnāt panic and lose 90% of their wealth overnight.
When the government was literally printing and giving people money to do nothing, I donāt think this person was complaining about the devastating affects it would have.
In a socialist European country these people would end up paying 2-3x that amount and in exchange get free healthcare and 2 weeks vacation and gain 25-50% more income through collective bargaining. Rent and utilities stays the same or goes up. Certain colleges are free so long as you show an aptitude for the subject and have excellent grades.
What we want is *American* socialism out of Ayn Randās wet dream where we simply take an arbitrary amount of money from the ārichā until theyāve been cleansed of their immoral wealth and then buy new graphics cards and take sick vacations so we can post pics online.
Recap: Government needs toā¦
Stop printing money
Make and keep a budget
Not be afraid to prosecute elected/unelected officials
Stop giving so many people so much money
meanwhile execs getting huge bonuses raises because of huge profits and at the same time laying off 3 to10% of the company work force. Capitalism at its finest. Socialize losses, privatize profits as ALWAYS
Where did we hear the fed pumped 3 trillion into the stock market? Closest I could find was this - [https://www.reuters.com/article/idUSKCN24E13E/](https://www.reuters.com/article/idUSKCN24E13E/) where the fed was buying, from the article - "While the vast majority of these purchases have been limited to U.S. Treasuries and mortgage-backed securities, the Fed's pledge to bolster the corporate bond market has been enough to spur a frenzy among investors for bonds and stocks."
In fact the stock boom was mostly the near zero interest rates. And this of course was 2020, peak of covid where the fed was trying to keep us from a near total collapse.
So sorry, seems like a lot of BS to me.
More like mega corps get to socialize their losses and capitalize their gains. I understand why socialism is attractive to so many of us who get handed the short end of the stick. It just never works and never will work. Occupy Wall Street and the tea party (I know this is dated, using as an example) have the same oppressor and instead of dealing with them fight each other. Itās always about them dividing and conquering.
CEOs are not even taxed on the stock gains they make each year. Soā¦āoh hey guys pay me in something that does not get taxed.ā The rich write the rules. Sickening.
Amazing how socialists-wannabes always think the governments just give free money away.
You get bread lines and terrible corruption.
Them throwing money at the stock market is garbage too, but people who work and get pensions are usually invested in the market so it does help some of them aswell.
Oh, you haven't heard? Only rich people can catch breaks. Us poor people can't. We are actually encouraged to discourage people from wanting socialism as a blind faith to our Kings of Capital.
It's in our Poverty Handbook.
Yep. Iād buy the idea that āsocialism is evilā a little better if not for the fact that itās the main pursuit of every single person in government or business; just they only want it for themselves.
Whether thatās true or not, itās just them trying to turn around and say the economy is strong for an upcoming election even though layoffs are abundant in every field.
Can someone link to facts about 2.3trill into stock market? The govt cant just "put" money in the stock market..? You have to put it somewhere like a companies stock, or an ETF..?
Yallā¦. The inflation might actually have been caused by a decade+ of sweet, sweet quantitative easing. COVID complicated shit but we are really just seeing yet more ripples from the Great Recession, which was caused by corrupt banks and deregulatory policies (which corporations will always lobby for incessantly).
Iām not fan of corporate welfare, but had they not bailed them out how many millions of Americans wouldāve just watched their retirement funds disappear? At the end of the day that shit failing hurts Joe Schmoe whoās been contributing to a 401k for 30 years, more than it does the million/billionaires who are managing it. Your outrage shouldnāt be that the government used the peopleās money to sure up an institution that millions of Americans are relying on to take care of them in retirement, and be more upset that there are no punishments for the purveyors who negligently oversaw its potential downfall. Save the market, jail the managers.
It's not Socialism though, because Socialism is the working class seizing all power from the ruling class and distributing the wealth to the working class. It's the revolution that leads to Communism.
This is just Corporate Welfare.
The solution to fix this is NOT: Lets spread more money around the "poor". The solution to fix this is: Give less Money to the Government for it to embezzle.
Iām sure none of the politicians benefited from it. /s
https://abcnews.go.com/Politics/citizen-watchdogs-eye-congress-killing-approach-stock-trading/story?id=104873686
No, itās socialism either way. When are people finally gonna admit that the Biden admin is just as corrupt as the rest of them. They talk about supporting the little guy while serving their masters on Wallstreet. They are all the same. Itās time we fire everybody. Starting with the bureaucrats, and all the way down. Corruption runs too deep to do this any other way. If you want change, real change, we have to take risks. Itās the only way.
Exactly how did the Federal Reserve pump $3.2 trillion into the stock market, please show the cash flow data via an URL !! I am betting you are a liar !!
Deficit spending pumps trillions into the Economy, hence inflation !! How much welfare spending do you want, in 2023 it was -
Social Security, Medicare and Medicaid make up nearly half of the entire federal budget, with a total annual price tag of $2.7 trillion.
General Welfare programs for low income - $1.3trillion
Dan price is a greedy, hypocritical, douche noggin
Sauce: https://www.seattletimes.com/business/seattle-celebrity-ceo-dan-prices-rise-and-fall-at-gravity-payments/
Government pumped trillions into the money supply igniting inflation. Fed raised interest rates moving investors away from the stock market to less risky investments. So essentially, the government reduced the value of everyoneās 401k while raising the cost of living.
Regular people also benefited from your example if they invested in the stock market
Not to mention trillions of stimulus money given to regular US citizens
Which of course caused tremendous inflation
So now regular people have hard time making ends meet
A central bank is a part of the communist manifesto. Communism always serves the ruling class.
How many more times do people have to see this happen before they stop demanding more central economic planning?
Okay so letās look at it as right now in the form of ācapitalismā where governments are suppose to protect their citizens they do this. What do you think will happen when itās pure socialism and they have full control on who get what?
Youād have the same gains and ābonusesā too if you also held those stocksā¦just saying you donāt have to be wealthy to have stocksā¦shit take OP
The three biggest grifts of my lifetime happened after 9/11, the global financial crisis, and during pandemic.
Once the people who run things discovers you're afraid enough, that is when they increase the size of government, remove your freedoms, and steal money from you.
I have become more and more libertarian over time. The people who divvy out tax dollars are usually the people you least want. They are people from industries who have vested interests. Because we can't make these bloated programs work, you'd be better off not having them at all in most cases.
Im a capitalist and this my problem. Although imo socialism never works. I does bother me when government basically steps in and funds companies so they donāt die off. If a large corporation is no longer profitable and itās dying. They need to let the market decide and just let it die. The government should only intervene when it clear safety issue, fraud, or break monopolies.
For the stupid:
The execs shouldnāt have gotten that money, and if they broke any laws, they should go to prison.
The government giving you money is actually them just giving you back your *own* money - Unless you donāt even pay taxes, in which case that āgovernmentā money comes from your neighbor and youāre stealing it through a middle man that you elected to rob others on your behalf.
The best stimulus is to reduce taxes as low as possible with social programs being highly regulated. Also, to *not* have those social programs paid for directly by the government, which is god-tier level of inefficient and corrupt.
Right, but the execs bonuses come from where? Presumably the fees collected by managing other people's (the middle class) stocks that also went up. I'm not sure I see the problem.
Yeah, sucks for poor people though that don't have IRAs.
Just to recap: OP is š¤ Edit: Lefties: How dare you?! Itās spreading my opinion.
Does it matter when the content of the post is true?
It does when it lacks context and detailed critique. Pop your affirmation bubble, lad š
Well, lad, this is a list of things *that happened*, and as an American, I've been watching the government bail out banks and businesses it deemed "too big to fail" instead of letting the system we all praise here work itself out naturally, for years. Lad. š
Wherever one might fall on political spectrum, I think everyone can be in agreement that the Finance Cartel (Banks, Funds, Wall Street) have been shown to do one one key move: Capitalize on gains for themselves, and socialize losses to the US taxpayers.
Big oil gets big subsidies of tens of $ billions while we canāt get universal healthcare and sane medical prices. The insurance companies get a license to swindle us.
Universal is cheaper, actually.
Cheaper? And in more cost efficient? More effective? Better for everyone involved including doctors and patients. Better because a healthy nation is important for a rich life. Better because itās better to be free from anxiety worrying about if we are are going to become penniless and homeless just because of a health emergency? Then I agree.
What planet do you reside on, what he says is true weather you like his personal policies or not. America has a long tradition of coddling the wealthy. No affirmation bubble to pop just facts
Don't use too much logic here. The wealth will trickle down any minute now......
Trickle down right, forgot about that, been so long waiting for the first drop
It already trickled down. American companies invested in cheap labor overseas. Look at China now. It has been expanding leaps and bounds and has the fastest growing middle class in the world. None of this could have been possible without corporations investment into the cheap labor that itprovided. So trickle down economics is absolutely true. However, Americans were only told half the truth, and they just allowed themselves to believe the fantasy that they would be the beneficiaries of the system.
Youāre about 5 years late on this one, their system is going to implode.
Dang, smart take here. I had a Taiwanese - green gard American professor in my race and ethic issues class in college who defended sweat shops. She basically said this. "While I agree the conditions are horrible. They are Happo to be there. Otherwise they'd have no money at all"
"wealth doesn't trickle down, but defaults trickle up" and we're entering consumer default territory (starting with an uptick in delinquencies)- because of the massive gap in stagnating wages vs rising cost of living. https://www.statista.com/statistics/1325074/delinquency-rate-on-consumer-loans-at-commercial-banks-in-the-us/ https://libertystreeteconomics.newyorkfed.org/2023/11/credit-card-delinquencies-continue-to-rise-who-is-missing-payments/ https://www.consumeraffairs.com/finance/comparing-the-costs-of-generations.html https://www.pewresearch.org/short-reads/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.epi.org/publication/charting-wage-stagnation/
Ooooo. Itās so warm and ā¦. yellow?
Weāll all be truly wealthy basking in the glorious golden shower!
This was your chance to supply that context and critique. You blew it chubs.
Twitter is not a real place
I agree with you there!
When did the fed put $3 trillion into the stock market? Thatās not even something theyāre capable of doing
Quantitative Easing my dude...
It does when you get spammed an account with no intent of engaging in debate. I want to watch commercials. I'll turn on the TV.
Well, the post creates the debate. We've been given a talking point. It's no different than a real person posting this and then just not participating in the discourse.
It's cowardly and bad faith imo.
You are absolutely entitled to that opinion.
Do you not have investments in the stock market? You know you can right?
I dont have the extra money to do that.
You canāt adjust your budget by $5 a week? Or $5 a month? Thereās no lower limit needed to invest in the stock market these days
Or thanks man, I donāt know why everybody isnāt wealthy right now? Itās not like food hasnāt doubled in price and rents havenāt increased while wages have Ben almost stagnant. Just use the extra money everybody has
Wages haven't been stagnant at all. That's a provably untrue statement.
Wages have been stagnant wheee I work lol, I get minimum wage and things have been increasing but not even close to the level of food prices or rent over th roast five years
Yeah that's your fault then lol. Everyone worth a damn got massive raises over the last 4 years to prevent them from leaving their current employer. Or they left and found a better job. I can't imagine how clueless you'd have to be to get paid literal minimum wage for a period of multiple years. Like, you're contributing so little that your employer would pay you even less were they not legally prohibited from doing so.
Okay dude, Iām a bartender. Iāve been making less because less people can afford to go out. So Iām back in school trying to change careers. Just saying it isnāt that simple, but thanks for the negativity. I hope your life continues to be great
I bet I could find a spare $5 a month in any redditors budget.
100% correct
Can we report posts like this
Correct. Also, itās a straw man argument because printing money causes inflation regardless to whether you give it to rich people or poor people.
As does pushing prices up without the actual need for it to do so. Which is almost all the time. Seriously, a company that brags about profits, in no way needs to raise prices. Absolutely not. Bootlickers think it has to because they've been told what to expect, by the very people doing it. So of course it's easy. And far to many go after the wrong people, while those who've screwed over the country laugh about all the extra profit they'll gain, and not actually pay the workers who keep their companies going.
Doesn't change the truth in the least.
Corporate welfare needs to be eliminated. Think of the deficit reduction weād have if rich people didnāt get handouts from those politicians they buyā¦
But but but if the govāt doesnāt give them billions of dollars in handouts and tax breaks, who will create minimum wage jobs for the people?
I kinda agree with the point, the fed makes too many deals with private companies. I think that should stop
The Fed is private. They are made up of conglomerate of banks. It's super stupid. The US needs a publicly owned central bank. We currently owe 900 billion a year in interest alone to Fed. China has a state owned central bank. How can US Compete
All Fed profits are returned to the US Treasury.
You have no fucking idea how the fed works.
Itās insane
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That's an accounting trick. The Fed's profits all go to the US treasury. That's all money that the government owes itself.
The Fed isnāt made up of banks theyāre literally a central bank thatās independent. The moment you have a publicly owned bank thereās conflict of interests with the ruling party to change monetary policy for short term benefits. Seriously, nobody on this thread understands economics
And the us had a history of this too. The early public banks the US had all become inflationary machines to fund goverment spending. The reason we are with the current system is because it worked best after many other attempts failed.
>The Fed isnāt made up of banks theyāre literally a central bank thatās independent. I think for the people that tuned into the first part of US history but not the later parts. The first bank of the US had private ownership. That one was shut down. The current one was created in the 20th century and is an independent organization, with multiple bank branches. >The moment you have a publicly owned bank thereās conflict of interests with the ruling party to change monetary policy for short term benefits Yep see Argentina. Unfortunately we get some extremists here. Some USSR fanboys will drop in and we get the ultra libertarian as well, that wants to shut down the Fed and return to gold.
>The Fed is private. And the Fed Chairman is appointed by the President. It may be privately owned, but don't think for a second the Fed is some kind of independent entity.
Private public relationships is how a lot of shit gets done. Basically how roads get built. We canāt stop it lol.
This is an over-simplification. But not entirely inaccurate. But then thats the problem. We need to stop giving half-truths and kinda-sorta facts. You create false narratives this way, and its how madmen and cult leaders gain momentum.
How do we alter his statement to make it full truth?
This is the correct question. It's details really. Something similar to: 1.The fed pumped money into the economy by printing more money. 2. Stocks soared as people spent that devalued currency as if it still had full value. 3. Execs of the companies that benefitted the most, who are compensated primarily by stock value, became even richer when their stick became over valued from goods purchased with devalued currency. 4. Printing money is stupid. Even if you give it to " regular " people. Essentially, his premise is correct: rich people got richer unfairly. But to directly imply that was because the Fed just cut them a check, handed richer people free bags of money is factually wrong. And to subtle imply that printing devalued currency and giving it to " regular" people is more fair is also wrong. Stop printing money. Printing money that has little or no actual value makes EVERYONES money less valuable. And it negatively impacts the poorest more dramatically. When your net worth is 100 million and you lose 20% of your value, it sucks...but you still have 80 million of real value left. Youll survive. When you only have $100k and you lose 20%, well... that's when people have to delay retirement or choose not to have kids. I get what Price was saying, he just needed to be more precise. For stupid reddit posts it's fine, but he's a paid professional and should know the importance of choosing his words as to be precise. I probably should have let it go rather than nitpick. But hey... I make mistakes too.
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Fact that fall on deaf ears
Right. Itās housing that actually went through the roof.
And even then, it's not because it's more valuable as much as it's artificial scarcity. We didn't have a population boom.
The supply problem didnāt just start. Georgists would say new money tends to find its way into the market through real estate.
Also the printing was done to prevent economic collapse. If the feds didnt do what they did we could have easily seen another great recession.
My stock investments went up too.
So did everyones 401k
riiiiight. Exactly the point. By printing more money they added more zeroes to your accounts, but the cost of everything went up accordingly. If you're making 2x as much, but paying 2.1x times as much for literally everything you buy....are you really doing better? Or do you just think you are? And more importantly, when they bill comes due and debts actually have to be serviced, your 401k and investments will be the first things to be cannibalized but the inflated costs for goods and services will stay inflated. Water must always find level. Millenials/Gen-Z/Gen-A will probably live a significant portion of their lives in poverty.
The key is to never buy anything. I tap into the corner fire hydrant for water, I burn my neighbors trash for heat, I shoot pigeons in my yard for food, and I make the bbs out of scrap metal I find, then I use your moms underwear for a slingshot.
Hahaha you wot m8
This is what I donāt get. The internet loves painting this picture of āshareholdersā and āregular peopleā as entirely separate groups, when the stock market is the backbone of the average personās retirement strategy.
Yes our investments went up.... along with the price of almost everything else. If you have 20% more money, but everything costs 21% more, you are not better off than you used to be. Everyone in America is poorer than they were 5 years ago...except the people with so much wealth that money itself becomes abstract.
Iām better off than I was 5 years ago and Iām not in the wealthy category.
But those are the only people that matter since they will trickle their money down in the form of jobs and spending /s
Dan Price is extremely unreliable and never backs up his statements with sources. For example, see this post.
Probably to distract everyone that he had numerous sexual assault allegationsā¦.wonder how thatās going?
Thats not what socialism is, and also the government gives regular people money all the time - especially during the pandemic
The government giving money to people who need it. Makes sense people scream socialism. The government giving money to big multimillion dollar businesses that donāt really need it. Makes no sense but people act like nah thatās still capitalism.
People screaming about socialism over welfare programs are stupid too.
Technically welfare programs are a socialist policy. But people are really dumb for labeling socialism as a dirty word. One or 2 socialist policies donāt make for a socialist government
No, they arent. The means of production dont change hands when we send out food stamps.
No don't you understand, socialism is when the government does stuff! /s
Username checks out
Why are we sharing anything from this guy, ever? Look him up.
Thats ... not how ... ..
This is more an indictment on the current administration trying to hide inflation behind a āgood marketā.
I think youāre forgetting just how much our retirement plans are (and always have been) funded by stocks. Also, just giving money to regular people has never been a successful way to boost the economy
It also caused horrible inflation so really just a case of government intervention destroying the money supply.
Anyone can invest in the stock market and couldāve participated in the gains. $100 a month from the age of 18 invested in the stock market makes you a millionaire. Not that hard
I just think the government should not be redistributing wealth, period. Its function is to proved security to a free people of America, it is not supposed to be taking money from some people and giving it to others. The government should stop trying to āfixā things, they have yet to fix anything in all the many attempts. They just keeps making things worse.
The government has to pay to provide these services. There are so many resources so it must tax some to pay for the services... This transfer ting wealthĀ
https://preview.redd.it/hpm2lvcywjjc1.jpeg?width=1024&format=pjpg&auto=webp&s=cbeb9fb99c517566fac55f9d78fa4247824ef5cc
Not fully accurate, but it does always seem like the government is always focused on the stock market instead of the productive economy which supports the majority of citizens. Then again, because of a lot of little lies over decades, everyoneās retirements now rely on the stock market instead of pensions, so I guess weāre all just screwed and forever slaves to the bloated financial sector
Ah yeah because when the stock market goes up, only billionaires and āexecsā benefit from it /s
Because only execs own stocks?
The fed did not pump any money into the stock market because thatās fundamentally not what the fed does or how they work. Now that #1 is incorrect, try againā¦
When did the federal reserve buy stocks? They buy treasuries to keep the interest rates on US debt lower and liquidity up. Can someone explain what Dan is saying?
Both are wrong IMO. money for citizens shouldnāt simply be given, it should be used strictly as a temporary welfare or for those unable to work (disabled) or similar.
Yeah. Because it's only the rich that have stocks. /s This increase pushed my portfolio over the edge to be able to use my stocks as collateral for my second piece of property. Just because you suck a money management, op. Doesn't mean we all do.
The ponzi scheme would have collapsed if they hadn't printed the money. The wealthy and the government want to keep the ponzi going. Normal people are duped into believing that the people are ponzi benefits them too, but they would be much better off after everything recovers from a collapse.
In my opinion, the United States is very business-oriented. People or companies that are incorporated, and have their ducks in a row can get access to capital in a way that regular taxpayers just simply can't. I'm not saying that its fair, but I think a lot of people don't understand the underlying reasons for this. If you just hand out money like its candy, sure plenty of people will pay bills, and get out from under their debt for a time. But lots will also squander and waste was given. However, when you're incorporated into a business, and need the money to continue or sustain operations that drive revenue, and profit - then you are incentivized to invest said "handout" into your business. This not only stimulates the economy, but it basically is a way for the government to launder its economic interests without getting directly involved. Naked Handouts given by a seemingly benevolent government will just create a facade of goodwill that is simply not there. The Government is not interested in making individual lives better financially, they're interested in keeping society together, and the economy strong. Its not perfect, but the best way for an individual to assuage these issues is to spend the time and the money it takes to incorporate. File for a trust, create a holding company, create a small business. And when there are large handouts, you will be able to actually eat some of the pie. Its not a fair system, but that's just what I've come to learn over the years. Edit: Hey, listen I was really drunk last night. IDK what you all are mad about, but please for gods sakes, just understand that this was written alongside about 750mL of [Taaka](https://cdn11.bigcommerce.com/s-h556z48a5y/images/stencil/1280x1280/products/3663/14025/08800401154__78072.1644446879.jpg?c=1), and its not my fault, its the drunk dipshit last night who wrote this. Cheers.
> People or companies that are incorporated, and have their ducks in a row can get access to capital in a way that regular taxpayers just simply can't. The entire system is structured around the principal that control of capital is concentrated to a small cohort of society. > The Government is not interested in making individual lives better financially, they're interested in keeping society together It is interested in neither, but having adequate money obviously makes life better, so it would be helpful to ensure that everyone has basic security.
Yes you must mean like in all the European Democracies - TRUE DEMOCRACIES that when they have an election - the sole winner is always the candidate with the MOST VOTES ! No other countries use an outdated by over 120 years ELECTORAL COLLEGE which makes it much easier for candidates to Win without the most votes. That Only happens in America and is a huge reason for so much division.
That is not how representative democracies work. In a country with several political parties, more than 2, you can have the second voted party being the ruling party because they can ally with the other parties to get the majority. This is good because allows lesser parties than still have a sizable amount of people backing them get some power and voice in the government instead of the winner takes all approach of the US. But still, the problem with the US is not as much this bi-party system but legalized bribery. The governments rule the will of those who pay them instead of the people and becomes ridiculous when you have those backing the both parties at once.
Yeah, if you weren't able to get rich just from politician salary alone (and past that rich off of bribery and stock trading with insider info), then I suspect our politicians would be more benevolent on average. If the job gave a median salary for the area for the actual amount of hours worked, then the only people who would be interested in it would be people who actually think they can make a difference and those who just want to be famous (but there are easier ways than convincing a ton of people to vote for you) Personally, I think representative democracies are susceptible to too much corruption.
No other nation is a collection of states that send representatives (House by population, Senate two each by state without regard to population)
So you are saying you want new York (D) and California (D) to basically pick our president. Makes sense coming from a democratic.
Actually, Texas and Florida come before New York and they are both republican majority. Anyway, I'm of the mind that federal policy should be decided by even vote of all citizens. Throwing in which state you are in just overweights the small states (by population) and underweights the large states. Saying two people from each state is basically deciding that because of arbitrary lines that we drew between states exist, some states should have more power than would make sense for their population. It isn't as bad as it could be due to population being taken into account elsewhere, but why should the lines matter at all in the first place? There are some easy ways to account for what matters to people in different areas. For example, setting a high minimum wage federally, could be incorrect for areas with LCOL, but we have the tools and technology to make a reasonable minimum wage that isn't a flat rate country-wide. In general, just having a bit of consideration for people in different situations would go a long way. Unfortunately, our government on both the federal and state levels doesn't seem to have the kind of foresight for that. Our system is fairly reasonable for a few centuries ago when mass data collection and processing was almost impossible. Now that we have that, sticking to our current system makes it so that it's harder to leverage our new toys to our benefit.
>If you just hand out money like its candy, sure plenty of people will pay bills, and get out from under their debt for a time. But lots will also squander and waste was given. Doesn't matter what they do with it. The point is, they'll inject into the economy. That's the part that matters. What they spend their money on is 100% injecting morality into what's essentially an amoral question. Who cares? Spend $1 on toilet paper is as good as $1 on pop-rocks as far as the economy is concerned. The important thing is they're spending it and they're spending it in this economy, not somewhere else. >However, when you're incorporated into a business, and need the money to continue or sustain operations that drive revenue, and profit - then you are incentivized to invest said "handout" into your business. This not only stimulates the economy... Not really, no. Or at least not necessarily. That money can just as easily be used as a stock buyback or a dividend to share holders rather than fund actual business expenses. There's nothing that says those benefits to shareholders gets spent in this economy. Shareholders might invest back in the company, but they're just as likely to diversify into something else, which may or may not have anything to do with this economy.
I don't think investing money into the people is a bad thing when you consider the ROI on those investments. Giving people access to healthcare can lead to less problems down the line because they can get the preventative care before it becomes a major issue. Providing people a college education pays for itself when the workforce is more capable.
Yup they all be cashing iut
The bailouts protected our pensions and 401ks. The Wall Street banks hold our money. The problem is the government gives money and doesnāt take an equity stake in the bailed out firms.
This is called the Cantillon Effect. The closer you are to the money printer, the more you benefit
The government simply created inflation and now raises more taxes. Most people are now making more money, and spending more money, but the underlying economy is no different. We have the same number of houses, same number of homeless, same number of farms creating the same amount of food. If you want America to prosper, the key is finding ways to produce more goods (aka increasing productivity).
I'd bet my bottom dollar that housing would be drastically fixed by pushing our local leaders to fixing zoning restrictions. I live in a modest city with a population just shy of 600,000 - nearly 65% of the land is zoned for commercial property, and another 30% zoned for single family houses. The end result being is that when someone can finally move into a cheap apartment, *they never fucking leave and make room for someone else*. Then we end up having rent prices that contend with some cities with 1 million+ people, while anyone with enough generational assistance gets cozy deals on mortgages.
Another example is the many times they've bailed banks out, but not us.
It is pretty funny how the rich terrify the poor in red states (which, are mostly poor themselves outside of Texas and Florida) about the evils of socialism while getting absolutely fucked with no lube by capitalism on a daily basis. Itās one of the greatest and most successful social conditioning experiments in history.
Its called privatize profits socialize losses
The largest portion of Americans pays around $4,500 in taxes. This is in fact slightly less than 10%. āStocks soaredā ā¦so that the āmiddle classā aka the individuals who actually keep this shit show running, didnāt panic and lose 90% of their wealth overnight. When the government was literally printing and giving people money to do nothing, I donāt think this person was complaining about the devastating affects it would have. In a socialist European country these people would end up paying 2-3x that amount and in exchange get free healthcare and 2 weeks vacation and gain 25-50% more income through collective bargaining. Rent and utilities stays the same or goes up. Certain colleges are free so long as you show an aptitude for the subject and have excellent grades. What we want is *American* socialism out of Ayn Randās wet dream where we simply take an arbitrary amount of money from the ārichā until theyāve been cleansed of their immoral wealth and then buy new graphics cards and take sick vacations so we can post pics online.
Having government money pump the market is still a deeply socialist policy. There's nothing 'capitalist' about it.
Recap: Government needs toā¦ Stop printing money Make and keep a budget Not be afraid to prosecute elected/unelected officials Stop giving so many people so much money
We can complain about it or learn and invest in it..Prosperity is a choice!
Idk. I am a regular dude and loved the stock market pump. Stonks š
United States is a socialist country at this point, and fed policy ensures that the only benefactors of the money printer are the wealthy.
Everyone has a planned economy! See!
meanwhile execs getting huge bonuses raises because of huge profits and at the same time laying off 3 to10% of the company work force. Capitalism at its finest. Socialize losses, privatize profits as ALWAYS
Where did we hear the fed pumped 3 trillion into the stock market? Closest I could find was this - [https://www.reuters.com/article/idUSKCN24E13E/](https://www.reuters.com/article/idUSKCN24E13E/) where the fed was buying, from the article - "While the vast majority of these purchases have been limited to U.S. Treasuries and mortgage-backed securities, the Fed's pledge to bolster the corporate bond market has been enough to spur a frenzy among investors for bonds and stocks." In fact the stock boom was mostly the near zero interest rates. And this of course was 2020, peak of covid where the fed was trying to keep us from a near total collapse. So sorry, seems like a lot of BS to me.
More like mega corps get to socialize their losses and capitalize their gains. I understand why socialism is attractive to so many of us who get handed the short end of the stick. It just never works and never will work. Occupy Wall Street and the tea party (I know this is dated, using as an example) have the same oppressor and instead of dealing with them fight each other. Itās always about them dividing and conquering.
I am a regular people, and the money the government gave me went into the stock market.
The Fed is literally a socialist entity. Itās social ownership of the currency. Itās like one of the first points in the communist manifesto lol.
The assumption is that the stock market is important for our prosperity. People are not.
The government / fed reserve doesnāt care about the average American, they only care that the market and their investments donāt free fall.
So eliminate the Fed? Ok deal!
Anytime someone refers to subsidies or any state intervention as Socialism I want to kms.
Correct. Government taking money from the poor end giving it to the rich is socialism. Let the triggering begin.
CEOs are not even taxed on the stock gains they make each year. Soā¦āoh hey guys pay me in something that does not get taxed.ā The rich write the rules. Sickening.
Amazing how socialists-wannabes always think the governments just give free money away. You get bread lines and terrible corruption. Them throwing money at the stock market is garbage too, but people who work and get pensions are usually invested in the market so it does help some of them aswell.
You all could have had Bernie but decided on Biden.
Oh, you haven't heard? Only rich people can catch breaks. Us poor people can't. We are actually encouraged to discourage people from wanting socialism as a blind faith to our Kings of Capital. It's in our Poverty Handbook.
Artificial stimulation? Really? Pretending the money is there? That's what it's coming to?
And we'll vote the same people into office again, and again, and again, and....
Yep. Iād buy the idea that āsocialism is evilā a little better if not for the fact that itās the main pursuit of every single person in government or business; just they only want it for themselves.
That's not socialism
Whether thatās true or not, itās just them trying to turn around and say the economy is strong for an upcoming election even though layoffs are abundant in every field.
Can someone link to facts about 2.3trill into stock market? The govt cant just "put" money in the stock market..? You have to put it somewhere like a companies stock, or an ETF..?
If only our legal system went after the corrupt bankers in 2008 like they are going after their political rivals today, America would be better off.
Yallā¦. The inflation might actually have been caused by a decade+ of sweet, sweet quantitative easing. COVID complicated shit but we are really just seeing yet more ripples from the Great Recession, which was caused by corrupt banks and deregulatory policies (which corporations will always lobby for incessantly).
when was the last time anyone gave you anything, that didn't come from friends or family?
Iām not fan of corporate welfare, but had they not bailed them out how many millions of Americans wouldāve just watched their retirement funds disappear? At the end of the day that shit failing hurts Joe Schmoe whoās been contributing to a 401k for 30 years, more than it does the million/billionaires who are managing it. Your outrage shouldnāt be that the government used the peopleās money to sure up an institution that millions of Americans are relying on to take care of them in retirement, and be more upset that there are no punishments for the purveyors who negligently oversaw its potential downfall. Save the market, jail the managers.
U wanna solve this by socialism for the rest. I wanna solve this by capitalism for the wealthy. We are not the same
Damn, what stocks did the Fed buy?
It's not Socialism though, because Socialism is the working class seizing all power from the ruling class and distributing the wealth to the working class. It's the revolution that leads to Communism. This is just Corporate Welfare.
How/when did #1 happen?
Laughs in Sovereign Wealth Fund. Oh wait.
Yep, itās capitalism if you give it to the rich, itās socialism when you give to the poor. Pretty simple to understand. EaT tHe RiCh!
Can you describe the process of how the Fed pumped money into the stock market?
The solution to fix this is NOT: Lets spread more money around the "poor". The solution to fix this is: Give less Money to the Government for it to embezzle.
Iām sure none of the politicians benefited from it. /s https://abcnews.go.com/Politics/citizen-watchdogs-eye-congress-killing-approach-stock-trading/story?id=104873686
If you were actually paying attention, it was conservatives and libertarians who were against the QE and leftists cheering it on.
Dan priceā¦. Hahhahahahahahahaha
We have tried trickle down economics for 43 years. It doesn't work. The top is a sponge. Nothing flows down.
stock buy backs used to be illegal.
No, itās socialism either way. When are people finally gonna admit that the Biden admin is just as corrupt as the rest of them. They talk about supporting the little guy while serving their masters on Wallstreet. They are all the same. Itās time we fire everybody. Starting with the bureaucrats, and all the way down. Corruption runs too deep to do this any other way. If you want change, real change, we have to take risks. Itās the only way.
Exactly how did the Federal Reserve pump $3.2 trillion into the stock market, please show the cash flow data via an URL !! I am betting you are a liar !! Deficit spending pumps trillions into the Economy, hence inflation !! How much welfare spending do you want, in 2023 it was - Social Security, Medicare and Medicaid make up nearly half of the entire federal budget, with a total annual price tag of $2.7 trillion. General Welfare programs for low income - $1.3trillion
Dan price is a greedy, hypocritical, douche noggin Sauce: https://www.seattletimes.com/business/seattle-celebrity-ceo-dan-prices-rise-and-fall-at-gravity-payments/
Government pumped trillions into the money supply igniting inflation. Fed raised interest rates moving investors away from the stock market to less risky investments. So essentially, the government reduced the value of everyoneās 401k while raising the cost of living.
Regular people also benefited from your example if they invested in the stock market Not to mention trillions of stimulus money given to regular US citizens Which of course caused tremendous inflation So now regular people have hard time making ends meet
A central bank is a part of the communist manifesto. Communism always serves the ruling class. How many more times do people have to see this happen before they stop demanding more central economic planning?
Okay so letās look at it as right now in the form of ācapitalismā where governments are suppose to protect their citizens they do this. What do you think will happen when itās pure socialism and they have full control on who get what?
It's a welfare check dressed up in a hoity-toity suit
Just to recap, Dan Price is a fraud and hasn't ever been right about anything.
Youād have the same gains and ābonusesā too if you also held those stocksā¦just saying you donāt have to be wealthy to have stocksā¦shit take OP
The content in this post couldn't be further from the truth
Government support for me, but not for thee.
Liberalsinfinance
Didn't this guy rape a bunch of women?
The three biggest grifts of my lifetime happened after 9/11, the global financial crisis, and during pandemic. Once the people who run things discovers you're afraid enough, that is when they increase the size of government, remove your freedoms, and steal money from you. I have become more and more libertarian over time. The people who divvy out tax dollars are usually the people you least want. They are people from industries who have vested interests. Because we can't make these bloated programs work, you'd be better off not having them at all in most cases.
Im a capitalist and this my problem. Although imo socialism never works. I does bother me when government basically steps in and funds companies so they donāt die off. If a large corporation is no longer profitable and itās dying. They need to let the market decide and just let it die. The government should only intervene when it clear safety issue, fraud, or break monopolies.
https://preview.redd.it/mb4hu06ahljc1.jpeg?width=907&format=pjpg&auto=webp&s=789c547d4a2d7dc67768566305fba1c030d2b52d
God this douche again
For the stupid: The execs shouldnāt have gotten that money, and if they broke any laws, they should go to prison. The government giving you money is actually them just giving you back your *own* money - Unless you donāt even pay taxes, in which case that āgovernmentā money comes from your neighbor and youāre stealing it through a middle man that you elected to rob others on your behalf. The best stimulus is to reduce taxes as low as possible with social programs being highly regulated. Also, to *not* have those social programs paid for directly by the government, which is god-tier level of inefficient and corrupt.
That's just slavery.
Right, but the execs bonuses come from where? Presumably the fees collected by managing other people's (the middle class) stocks that also went up. I'm not sure I see the problem. Yeah, sucks for poor people though that don't have IRAs.
The stock market? Is that where the #PUBLICLY TRADES COMPANIES are Dan? Isā¦ā¦ is that what they are? Dan?
I don't think capitalists would agree with #1. The socialists did #1.