President Obama can be thanked for the unexpected....

  • conservativej...

    Posts: 2465

    Nov 20, 2014 9:25 PM GMT
    Another widening gap: The haves vs. the have-mores

    Philip Rushton has been selling private jets to the global rich for more than three decades. In just about every economic cycle, sales of small jets and big jets tended to move together, rising and falling with financial markets and fortunes of the wealthy.

    Now, however, the jet market is splitting in two. Sales of the largest, most expensive private jets, including private jumbo jets, are soaring, with higher prices and long waiting lists. Smaller, cheaper jets, however, are piling up on the nation's private-jet tarmacs with big discounts and few buyers.

    "The real demand is at the very top," said Mr. Rushton, the president of Aviatrade, a private-jet brokerage and advisory company. "The big guys, the billionaires, have plenty of money, and they're buying. But the middle and lower end has been much slower to recover from the crisis."

    The wealthy now have a wealth gap of their own, as economic gains become more highly concentrated at the very top. As the top one-hundredth of the 1 percent pulls away from the rest of that group, the super rich are leaving the merely very rich behind. That has created two markets in the upper reaches of the economy: one for the haves and one for the have-mores.
  • FRE0

    Posts: 4865

    Nov 21, 2014 10:25 PM GMT
    The growing gap between rich and poor started years before Obama became president. Of course strong action should be taken to reverse the trend. Obama has recognized it but it's questionable what he could have done about it considering how Congress has been behaving.

    The gap between rich and poor was probably greater during the "gilded age", i.e., the period following the Civil War until the presidency of Theodore Roosevelt. Corrective action was taken when the people finally became sufficiently fed up. There are signs that the people are again becoming fed up by the excessive gap and I expect that effective action will again be taken.
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    Nov 22, 2014 12:56 AM GMT
    The economy has only improved due to the Federal Reserve printing dollars and keeping interest rates so low.

    The Fed operates independently of the rest of the government.
  • conservativej...

    Posts: 2465

    Nov 22, 2014 2:44 AM GMT
    FRE0 saidThe growing gap between rich and poor started years before Obama became president. Of course strong action should be taken to reverse the trend. Obama has recognized it but it's questionable what he could have done about it considering how Congress has been behaving.

    The gap between rich and poor was probably greater during the "gilded age", i.e., the period following the Civil War until the presidency of Theodore Roosevelt. Corrective action was taken when the people finally became sufficiently fed up. There are signs that the people are again becoming fed up by the excessive gap and I expect that effective action will again be taken.


    I agree, but the gap described is not between the rich and poor but the rich and super-rich. :-)

    As to why the gap between rich and poor has widened, perhaps we could ask whether the 4 million or so illegal aliens who can now remain in the U.S. graduated from a Latin American high school. It seems to me President Obama's intent is to ensure that gap -- between rich and poor -- remains within U.S. borders.
  • FRE0

    Posts: 4865

    Nov 22, 2014 8:53 AM GMT
    conservativejock said
    FRE0 saidThe growing gap between rich and poor started years before Obama became president. Of course strong action should be taken to reverse the trend. Obama has recognized it but it's questionable what he could have done about it considering how Congress has been behaving.

    The gap between rich and poor was probably greater during the "gilded age", i.e., the period following the Civil War until the presidency of Theodore Roosevelt. Corrective action was taken when the people finally became sufficiently fed up. There are signs that the people are again becoming fed up by the excessive gap and I expect that effective action will again be taken.


    I agree, but the gap described is not between the rich and poor but the rich and super-rich. :-)

    As to why the gap between rich and poor has widened, perhaps we could ask whether the 4 million or so illegal aliens who can now remain in the U.S. graduated from a Latin American high school. It seems to me President Obama's intent is to ensure that gap -- between rich and poor -- remains within U.S. borders.


    Considering that the U.S. has a population of more than 300 million, it seems unlikely that four million or so illegal aliens could have much effect on the economy. They are barely more than four percent of the total population.

    If our ancestors had not overpowered the Native Americans, we wouldn't even be here ourselves.
  • tj85016

    Posts: 4123

    Nov 22, 2014 3:00 PM GMT
    mx5guynj saidThe economy has only improved due to the Federal Reserve printing dollars and keeping interest rates so low.

    The Fed operates independently of the rest of the government.


    I don't think so anymore, maybe in the days of Volker and Arthur Burns, now I think the White House has the Fed by the balls

    they have to maintain market index levels (Dow, S&P, etc) - OR ELSE (or else a ton of private and government retirement accounts (teachers, cops, etc) are fucked)

    the Fed really doesn't want a $5 trillion balance sheet, but they're forced to. The Fed is now just a subsidiary of JPMorgan/Chase now anyway - it's a giant, corrupt mess
  • Posted by a hidden member.
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    Nov 23, 2014 2:20 AM GMT
    FRE0 said
    conservativejock said
    FRE0 said

    Considering that the U.S. has a population of more than 300 million, it seems unlikely that four million or so illegal aliens could have much effect on the economy. They are barely more than four percent of the total population.


    That math hurt a bit icon_smile.gif
  • FRE0

    Posts: 4865

    Nov 23, 2014 9:26 PM GMT
    mziv said
    FRE0 said
    conservativejock said
    FRE0 said

    Considering that the U.S. has a population of more than 300 million, it seems unlikely that four million or so illegal aliens could have much effect on the economy. They are barely more than four percent of the total population.


    That math hurt a bit icon_smile.gif


    Thanks; I was a bit careless. I should have written barely more than 1%.