Jump to content



Photo

Robert Reich


  • Please log in to reply
36 replies to this topic

#1 slupert

slupert

    Member

  • Traders-Talk User
  • 2,793 posts

Posted 01 January 2014 - 07:12 PM

Robert Reich The stock market closed out a record year at an all-time high yesterday, giving stockholders in 2013 their biggest annual gains in almost two decades. But the real news here, that went completely unreported, is that the 2013 bull market widened inequality because (1) the richest 1 percent of Americans own 35 percent of the value of all shares of stock, and the richest 10 percent own over 80 percent, (2) the corporate profits on which these gains were based came largely from keeping the wages of ordinary workers low, (3) the capital gains and dividends these gains generated are taxed at a lower rate than most of the income of the middle class, and (4) the biggest winners are the top executives and Wall Street traders whose year-end bonuses are tied to the stock market, and the hedge-fund and private-equity managers whose “carried interest” loophole allows them to cash in big-time. When will we stop measuring the health of the economy by the Dow Jones Industrial average

Edited by slupert, 01 January 2014 - 07:12 PM.


#2 Tim Johnson

Tim Johnson

    Member

  • Traders-Talk User
  • 77 posts

Posted 01 January 2014 - 07:27 PM

Robert Reich

The stock market closed out a record year at an all-time high yesterday, giving stockholders in 2013 their biggest annual gains in almost two decades. But the real news here, that went completely unreported, is that the 2013 bull market widened inequality because (1) the richest 1 percent of Americans own 35 percent of the value of all shares of stock, and the richest 10 percent own over 80 percent, (2) the corporate profits on which these gains were based came largely from keeping the wages of ordinary workers low, (3) the capital gains and dividends these gains generated are taxed at a lower rate than most of the income of the middle class, and (4) the biggest winners are the top executives and Wall Street traders whose year-end bonuses are tied to the stock market, and the hedge-fund and private-equity managers whose “carried interest” loophole allows them to cash in big-time. When will we stop measuring the health of the economy by the Dow Jones Industrial average


"WE" don't measure the health of the economy by the Dow Jones Industrial average. That's what GDP is for.

#3 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 23,208 posts

Posted 01 January 2014 - 08:51 PM

"Income inequality"

Get used to that word.

It's just another tactic by your friendly "Community Organizers" that brought you the "Occupy" Movement.

Bay Area Protestors Block And Vandalize Tech Buses, Photos From Friday’s Attack On Google And Apple

They didn't get very far trying to blame Wall Street and the Bankers -

So now they are turning their attention to those "evil" Silicon Valley employees who work countless hours trying to make something out of their lives.
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#4 James Quillian

James Quillian

    Member

  • Traders-Talk User
  • 1,364 posts

Posted 01 January 2014 - 09:24 PM

Actually GDP is not a good gauge of economic health either. It depends on how the distribution is skewed. Public opinion is easily managed. “Conservatives” are trained to promote their own poverty. There is nothing free market about using political power to rig markets. There would be no problem with any income distribution that is the result of hard work and adeptness. The distribution we have now is caused by theft and the result is a highly inefficient allocation of resources. A lack of fairness is not what causes problems with a lopsided income distribution. The problem is that consumer demand is more elastic at higher income levels than at lower ones. When all of the income goes to the top any small economic contraction worsens dramatically when the rich cut back. Robert Reich is right.


Robert Reich

The stock market closed out a record year at an all-time high yesterday, giving stockholders in 2013 their biggest annual gains in almost two decades. But the real news here, that went completely unreported, is that the 2013 bull market widened inequality because (1) the richest 1 percent of Americans own 35 percent of the value of all shares of stock, and the richest 10 percent own over 80 percent, (2) the corporate profits on which these gains were based came largely from keeping the wages of ordinary workers low, (3) the capital gains and dividends these gains generated are taxed at a lower rate than most of the income of the middle class, and (4) the biggest winners are the top executives and Wall Street traders whose year-end bonuses are tied to the stock market, and the hedge-fund and private-equity managers whose “carried interest” loophole allows them to cash in big-time. When will we stop measuring the health of the economy by the Dow Jones Industrial average


"WE" don't measure the health of the economy by the Dow Jones Industrial average. That's what GDP is for.



#5 thespookyone

thespookyone

    Member

  • Traders-Talk User
  • 6,043 posts

Posted 01 January 2014 - 09:45 PM

"It's just another tactic by your friendly "Community Organizers" that brought you the "Occupy" Movement." So not true. Income differences have widened, and it's very easy to prove. I wonder which claim that Reich makes, that you would debate with facts that show otherwise?

#6 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
  • 23,208 posts

Posted 01 January 2014 - 10:03 PM

"It's just another tactic by your friendly "Community Organizers" that brought you the "Occupy" Movement."

So not true. Income differences have widened, and it's very easy to prove. I wonder which claim that Reich makes, that you would debate with facts that show otherwise?



So what's not true, you don't believe there are "community organizers" behind this?

I live in the Bay Area, I have seen it with my own eyes, up close.

There are well-dressed people with clipboards leading the homeless people they recruited to camp out in the public park.

These protests are not ad hoc, they are very well organized and orchestrated.

You totally miss the point, is it fair to blame employees in Silicon Valley for income inequality?
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#7 James Quillian

James Quillian

    Member

  • Traders-Talk User
  • 1,364 posts

Posted 01 January 2014 - 10:58 PM

Semi
The truth is so distasteful people are unable to focus on it at all, so life is largely explained with a thick foundation of euphemisms. The U.S. has never actually functioned as a Republic. It is only defined as one. People are totally comfortable with the euphemistic definition so it doesn’t get questioned.
Every bill that congress passes serves the purpose of rigging one market or another. All bills are written by lobbyists. There are no exceptions. Who is constantly at the trough in Washington begging for legislation? I don’t know what community organizers hope to accomplish. The poor in this country are kept comfortable. If they weren’t they would riot. The working poor have had their productivity bonus stolen by expansionary monetary policy but they are too stupid to know where their misery is coming from.
At every point along history’s 50,000 year timeline all government have served as ways for the elite in society to extract income and resources out of the rank and file. Ordinary citizens trade freedom for comfort. The U.S. government has worked in this capacity from day one. As distasteful as it is, government operates like an organized crime family and people with political power use it to rob everyone else.


"It's just another tactic by your friendly "Community Organizers" that brought you the "Occupy" Movement."

So not true. Income differences have widened, and it's very easy to prove. I wonder which claim that Reich makes, that you would debate with facts that show otherwise?



So what's not true, you don't believe there are "community organizers" behind this?

I live in the Bay Area, I have seen it with my own eyes, up close.

There are well-dressed people with clipboards leading the homeless people they recruited to camp out in the public park.

These protests are not ad hoc, they are very well organized and orchestrated.

You totally miss the point, is it fair to blame employees in Silicon Valley for income inequality?



#8 MikeyG

MikeyG

    Member

  • Traders-Talk User
  • 2,850 posts

Posted 01 January 2014 - 11:36 PM

I don't mind what Reich said it mostly true, but can you blame the wealthy for holding stock??? Reich should look to the Fed if he is upset at stock gains... The Fed doesn't help the poor at all, they hurt them with the policies they embrace... Also I paid 12000 in taxes to NY, where that money went, I'm not sure and I'm not rich by any means... I have feeling they are going to want more....

mdgcapital@protonmail.com  

papilioinvest.com

@papilioinvest

 

"One soul is worth more than the whole world." 


#9 MikeyG

MikeyG

    Member

  • Traders-Talk User
  • 2,850 posts

Posted 01 January 2014 - 11:47 PM

I would have rather taken the 12000 and hired some painters for my house, or gave more to charity or redo my basement, or put it into the economy somewhere... I think when government is out the way it's best because from my pocket to the people that need it the most it gets skimmed off the top several times... Instead probably very little of my tax money is going to people that need the most, unfortunately...

mdgcapital@protonmail.com  

papilioinvest.com

@papilioinvest

 

"One soul is worth more than the whole world." 


#10 MikeyG

MikeyG

    Member

  • Traders-Talk User
  • 2,850 posts

Posted 01 January 2014 - 11:56 PM

"It's just another tactic by your friendly "Community Organizers" that brought you the "Occupy" Movement."

So not true. Income differences have widened, and it's very easy to prove. I wonder which claim that Reich makes, that you would debate with facts that show otherwise?



Even if we taxed the billionaires 50 percent, it would only go so far...

The real money is in the middle class as seen by most health care premiums going up (tax)...

My tax was 2500 extra...

This is partly why the middle class is shrinking IMHO...

My barber came from Hungary about 50 years ago..

He tells me socialism means everyone is equally poor and then you have the wealthy...

I am not sure if the guy has a high school education, but has seen it first hand, he says we are going this way...

He is old and wise and I wouldn't bet against him...

mdgcapital@protonmail.com  

papilioinvest.com

@papilioinvest

 

"One soul is worth more than the whole world."