Tell me once again about this "great economy"

[HikerGuy83]

Those things have been a problem for decades (even longer for the inequality part) .

What's that got to do with anything ?

Inequality is a function of our economic system.

No, they are a function of the abuses of our economic system.

The only reason the system survives it that one can go from struggling to pay bills to very well off in a short amount of time if they work hard at it and have a bit of luck along the way.

Did you get that out of a crackerjax box ?

The problem is that moving out of a current status is getting harder to do

Yes, that sounds more reasonable.

But there is a great deal more to add to this discussion.

 

[Harpy Eagle]

What's that got to do with anything ?

Because on a forum such as this the majority of the people blame it on one man

No, they are a function of the abuses of our economic system.

No, they are part of the system that cannot be removed as long as human nature is involved in the system.

Did you get that out of a crackerjax box ?

Nope, I lived it.

Yes, that sounds more reasonable.

But there is a great deal more to add to this discussion.

Indeed, but this thread may not be the right place for that

 

[rightwinger]

He sure did, all it took was COVID.

Nobody driving sure adds to the availability of gas

 

[eagle1462010]

Nobody driving sure adds to the availability of gas

Trolling that lock downs good for gas.

 

[Harpy Eagle]

Trolling that lock downs good for gas.

Moron, if you would read the thread you would see that one of your MAGA tribe members was bragging how much Trump brought down the price of oil on the global market.

Something he did due to COVID

 

[JoeB131]

Trolling that lock downs good for gas.

So you never learned about supply and demand in school?

Figures.

 

[DudleySmith]

Then prove my numbers wrong...should be easy for someone as well informed as you

They've already been proved wrong several million times over the years; you're just not important enough for anybody to make the effort, since you obviously never read anything.

 

[DudleySmith]

I am a mere retiree living off my pension and Retirement fund

My pension is up 17.8 percent in the last three years
Stock fund is up ver 20 percent in the last year
My real estate is through the roof

You have to rely on a pension? No wonder you don't know anything about markets.

And, real estate is a log term loser for most people, which is why flippers unload their properties as quick as they can, before the inevitable crashes, I make money on mine because I bought them at rock bottom prices and assumed no debt on them. You just bought a DVD on how to get rich in real estate with no money down and won't own anything for 30 years, but think you're making money n stuff.

 

[Ringo]

If capitalism is so efficient, why do "developed countries" import migrants en masse? Shouldn't the market and competition have led to a constant increase in labor productivity and cheap, primitive labor would simply not be needed?

 

[DudleySmith]

If capitalism is so efficient, why do "developed countries" import migrants en masse? Shouldn't the market and competition have led to a constant increase in labor productivity and cheap, primitive labor would simply not be needed?

They just replace natives with green card holders and the service industries and construction with illegals. Financial capitalism choke everything it touches to death by drowning everything in debt. All Wall street sells is debt; most financial experts couldn't run a snow cone stand, much less a productive industry that actually produces value and goods and pays well. They've outsourced nearly all productive jobs to communist slave labor colonies like red China and other shitholes, then snivel about taxes after they've out-sourced thier tax base. They're mindless idiots for the most part.

For the difference between industrial capitalism versus financial capitalism and strong anti-trust laws against banking and speculators read Henry Ford's Today and Tommorrow. Whatever else Ford was he was a master at running an industry that produced actual goods and avoiding debt like the plague.

 

[rightwinger]

You have to rely on a pension? No wonder you don't know anything about markets.

And, real estate is a log term loser for most people, which is why flippers unload their properties as quick as they can, before the inevitable crashes, I make money on mine because I bought them at rock bottom prices and assumed no debt on them. You just bought a DVD on how to get rich in real estate with no money down and won't own anything for 30 years, but think you're making money n stuff.

My pension beats the shit out of the market

For most people, their home is their most valuable asset. I own two houses that have gone up in value significantly since Biden became President

 

[strollingbones]

poor DudleySmith a lot of words but still no links

 

[The Duke]

It has been for me and mine.

Newsflash! You're not the only pebble on the beach!

 

[The Duke]

My pension beats the shit out of the market

For most people, their home is their most valuable asset. I own two houses that have gone up in value significantly since Biden became President

And the taxes have too. Also insurance rates.

Oh! And all major aplliances, wood, sheetrock, wiring, everything.

What hasn't gone up is the money coming in for people, only the going out part.

 

[Harpy Eagle]

My pension beats the shit out of the market

For most people, their home is their most valuable asset. I own two houses that have gone up in value significantly since Biden became President

your home going up in value does not really do much for you unless you are planning to sell it

 

[Harpy Eagle]

What hasn't gone up is the money coming in for people, only the going out part.

It has gone up as well.

 

[strollingbones]

soon one will be lucky to have ho insurance...unfortunately nc has the issue of beach house just going into the ocean... all ho cover those costs...it is not so bad in wnc but rates are raising even being harshly governed..rates have be rising for more than the last 4 yrs..just as inflation has been due to what....could it be corporate greed more than natural inflation...corps took total advantage of the pandemic to raise prices etc and so forth...its the beauty of that damn supply and demand capitalism ...when corps created shortage they increase what...say it with me...demand

off subject rant..wtf are the young ones blaming baby boomers for the current political affairs?
after their refusal to vote while now being there largest voting block

 

[rightwinger]

your home going up in value does not really do much for you unless you are planning to sell it

Neither do your stocks or 401k

 

[Harpy Eagle]

Neither do your stocks or 401k

Indeed. But if you are retired and living off your investments then you are doing so.

As for us I am in the "accumulation phase". Pumping as much as we can into 401k/IRA and paying down the house as quick as we can as we plan to sell it in 5 years. I do not plan to own again after that. With what we should clear from the house I estimate if we just invest it and use it only to pay rent it would cover rent for 12 to 15 years.

 

[Ringo]

Under capitalism, you always have a chance of becoming very rich, even at 90. But the chance is just above 0%. There is also a chance to become a victim of war, economic crisis, crime, drug dealing, scammers. And that chance is thousands of times higher.
That's why capitalism is a society of opportunity.