Question: Do deficits and the current economic environment help 'The Rich'?

  • Posted by a hidden member.
    Log in to view his profile

    Aug 28, 2009 6:09 PM GMT
    I already know the answer to this one but I am curious as to what you guys think.

    Let's go further and make one other assumption: if you believe deficits and the current economy help the rich, do you think last years melt-down was planned?

  • Posted by a hidden member.
    Log in to view his profile

    Aug 28, 2009 8:01 PM GMT
    twomack saidI already know the answer to this one but I am curious as to what you guys think.

    Let's go further and make one other assumption: if you believe deficits and the current economy help the rich, do you think last years melt-down was planned?



    The rich suffered the greatest lost in last year's meltdown. Those who don't have much to begin with, didn't lose much at all. In fact the poor are benefiting the most right now because businesses and retail stores are selling stuff at 50-75% off the retail in order to encourage more spending. Restaurants are also offering buy 1 meal get one free, so this helps the poor like me be able to afford to eat out again in restaurants and to buy some really nice clothes with such terrific deals. Gas is also the lowest it's been for many years, which is really great because now I can travel again more.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 28, 2009 8:02 PM GMT
    Sounds like conspiracy theory and it's also an oversimplification of the economy.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 28, 2009 8:07 PM GMT
    And if you want to buy a home now, the government will give you up to $8,000 in free money. We actually might be able to afford to buy a home this year because of this and because interest rates are the lowest they have been for many years. You can get some terrific deals on homes right now. Many homes are as much as 30,000-40,000 less then they were just last year.
  • cowboyathlete

    Posts: 1346

    Aug 28, 2009 8:11 PM GMT
    G_Force said
    twomack saidI already know the answer to this one but I am curious as to what you guys think.

    Let's go further and make one other assumption: if you believe deficits and the current economy help the rich, do you think last years melt-down was planned?



    The rich suffered the greatest lost in last year's meltdown. Those who don't have much to begin with, didn't lose much at all. In fact the poor are benefiting the most right now because businesses and retail stores are selling stuff at 50-75% off the retail in order to encourage more spending. Restaurants are also offering buy 1 meal get one free, so this helps the poor like me be able to afford to eat out again in restaurants and to buy some really nice clothes with such terrific deals. Gas is also the lowest it's been for many years, which is really great because now I can travel again more.
    To paraphrase Barney Frank, what planet are you living on?????????? Apparently you have heard nothing about the record number of foreclosures (e.g. people cannot afford their homes) nor about the states whose unemployment insurance funds are drying up. Doofus, you have to have money to buy things, even if things are on sale.
  • t0theheights

    Posts: 428

    Aug 28, 2009 9:30 PM GMT
    cowboyathlete said
    G_Force said
    twomack saidI already know the answer to this one but I am curious as to what you guys think.

    Let's go further and make one other assumption: if you believe deficits and the current economy help the rich, do you think last years melt-down was planned?



    The rich suffered the greatest lost in last year's meltdown. Those who don't have much to begin with, didn't lose much at all. In fact the poor are benefiting the most right now because businesses and retail stores are selling stuff at 50-75% off the retail in order to encourage more spending. Restaurants are also offering buy 1 meal get one free, so this helps the poor like me be able to afford to eat out again in restaurants and to buy some really nice clothes with such terrific deals. Gas is also the lowest it's been for many years, which is really great because now I can travel again more.
    To paraphrase Barney Frank, what planet are you living on?????????? Apparently you have heard nothing about the record number of foreclosures (e.g. people cannot afford their homes) nor about the states whose unemployment insurance funds are drying up. Doofus, you have to have money to buy things, even if things are on sale.


    Exactly! Any one who thinks the economic meltdown hurt the rich more than the poor is living in the twilight zone. So some big exec's portfolio dropped 60%, meaning he can only afford one BMW this year? Boo-fricking-hoo.

    The supposed "2-for-1" deals at cheap restaurants don't exactly help those underprivileged folks who lost their homes and/or what little income they had after the Wall St. Bubble burst. The rich people who are crying the blues into their designer shirt sleeves while others are homeless or starving make me sick.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 28, 2009 9:32 PM GMT

    heh, we think it did.

    Bailouts.

    'nuff said.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 12:53 AM GMT
    Let's try and answer the question guys. The question had nothing to do with who may have been hurt more. The question was:

    Do deficits and the current economic environment help 'The Rich'?
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 1:58 AM GMT
    Quite simply: Yes.

    Much of what was lost by the rich was on paper. Few, if any, of them lost their homes. In fact, I suspect many more of them were hurt by Bernie Madoff's Ponzi Scheme than by the recession. The stock market has been rebounding and, much of what was lost in paper money is coming back.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 2:04 AM GMT
    Yes.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 2:43 AM GMT
    Question:

    Who the poor works for?
  • Anto

    Posts: 2035

    Aug 29, 2009 2:50 AM GMT
    How are you determining who is rich vs who is not?
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 3:59 AM GMT
    jprichvaIt's time to revive Trotskyism. The Sixteenth Congress of fhe Fourth International is scheduled to meet in Belgium in 2010. It's time to put his ideas into real practice.


    Ah, a true Marxist. A man who has true hate in his soul.

    You should fly with me to China the next time I go and see how Marxism is playing out.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 4:02 AM GMT
    Christian73Quite simply: Yes.

    Much of what was lost by the rich was on paper. Few, if any, of them lost their homes. In fact, I suspect many more of them were hurt by Bernie Madoff's Ponzi Scheme than by the recession. The stock market has been rebounding and, much of what was lost in paper money is coming back.


    You are essentially correct with some tweaking. Don't make the assumption that vast portions of an individuals wealth is held in stocks, etc. Or that wealth is held directly.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 4:09 AM GMT
    charlitosQuestion:

    Who the poor works for?


    Not necessarily the rich. That is the true greatness of western democracy thanks to the House of Rothschild. icon_biggrin.gif

    You may work for yourself and your coworkers. Phillips Patroleum is owned by its' employees for instance. This was true for United Airlines, but they had their own internal problems with the philosophy of Trotsky. Lol. Sort of a similar reason as to why the great Paris Commune failed.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 4:09 AM GMT
    I'm in love with The Dollar Tree.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 4:17 AM GMT
    AntoHow are you determining who is rich vs who is not?


    Well, that is something we may truly never know....that is: who is "Rich."

    But I'd say if your net worth is less than $50,000,000, you have a whole lot less room to manuever these days.

    The easiest way to find out who is rich is to sit at the private gates in Singapore, Paris, Zurich, Dubai, London, or Buenos Aires as the metal rolls by. Shanghai is another good location. Now finding out who these folks are is an entirely different story. icon_question.gif
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 2:24 PM GMT
    jprichva said
    twomack saidAh, a true Marxist. A man who has true hate in his soul.
    You should fly with me to China the next time I go and see how Marxism is playing out.

    Only an idiot thinks that China is remotely Marxist. It isn't even Maoist anymore. It's capitalist-authoritarian, a degenerated workers' state such as the Soviet Union became.

    And only a running-dog imperialist thinks Trotskyists have 'hate in their soul'. The only hate displayed here is by you, against all social classes except your own.


    Ah, and that was my point. Marism always turns back around and heads in the direction that China has headed.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 3:30 PM GMT
    cowboyathlete said
    G_Force said
    twomack saidI already know the answer to this one but I am curious as to what you guys think.

    Let's go further and make one other assumption: if you believe deficits and the current economy help the rich, do you think last years melt-down was planned?



    The rich suffered the greatest lost in last year's meltdown. Those who don't have much to begin with, didn't lose much at all. In fact the poor are benefiting the most right now because businesses and retail stores are selling stuff at 50-75% off the retail in order to encourage more spending. Restaurants are also offering buy 1 meal get one free, so this helps the poor like me be able to afford to eat out again in restaurants and to buy some really nice clothes with such terrific deals. Gas is also the lowest it's been for many years, which is really great because now I can travel again more.
    To paraphrase Barney Frank, what planet are you living on?????????? Apparently you have heard nothing about the record number of foreclosures (e.g. people cannot afford their homes) nor about the states whose unemployment insurance funds are drying up. Doofus, you have to have money to buy things, even if things are on sale.


    I'm talking about the poor who are still working, but who are so poor that they have never been able to own their own home. I am not talking about the UNEMPLOYED or those who own their homes and because of a loss of their job are not able to make their mortage payments. I''m talking about people who are much poorer than this who have NEVER been able to even own their own home at all. The MIDDLE CLASS definitely has taken a hard hit with the meltdown, but the POOR, if they still have their job, have benefited greatly. People who own their own home are not the people I am talking about. I am talking about people who are MUCH POORER than this. I am also not talking about the unemployed, but people who are employed, but are still poor. I am one of those people. I have never owned my own home, but because of the meltdown last year I may now be able to purchase my home this year because of very low interest rates, $8,000 from the federal government, and the cost to buy a home now is much lower than it was last year because the price of homes has really dropped since last year. It's a buyers market right now. I can purchase the same home today at $20,000 less than just last year. That's how much the price of homes has dropped. So the poor like me who is still employed is now able to purchase more things for the same amount of money because the cost of things has gone way down, like groceries, gas, clothing, restaurants etc. The grocery stores were selling hamburger for $1.49 lb this summer. I haven't seen the price of hamburger that low for probably 20 years or more. And many items in the grocery store they are offering FREE, if you buy one. It is the same way with restaurants now. Many restaurants are now offering a free meal, if you purchase one. So 2 people can eat out now for the price of 1 before.. That is a 50% markdown and now I have been able to eat out once in awhile where before I could never afford it. So all I am saying is the economy has benefited many poor people like myself who still have their job, but are able to purchase things like homes, cars, groceries, gas, clothing, restaurants etc. at considerably much lower prices now. I am still poor, but I am able to buy more things today for the same amount of money.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 3:50 PM GMT
    Last year, I was paying over $4.30 for gas to get to work. Now I pay $2.57. This is giving me more money to buy other things. I have spent 50% less this year for gas compared to last year. I have spent a LOT less in groceries this year compared to last year, too, because of all the buy 1 get one free promotions. My income is the same as last year, but my buying power is SO MUCH greater now than last year because of much LOWER prices.

    Many poor people who could never afford to go to an amusement park or an NBA basketball game before were able to go this year because they were selling tickets 50% off. In fact they were selling $29 Buck's tickets here for just $10 and even gave free food with your ticket.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 3:54 PM GMT
    twomack saidLet's try and answer the question guys. The question had nothing to do with who may have been hurt more. The question was:

    Do deficits and the current economic environment help 'The Rich'?


    Definitely not! The rich lost 50% of their portfolios in the meltdownt. If they had 500,000, they probably only have about $250.000 now. No wonder they are just sick because they lost half of their investments.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 29, 2009 3:59 PM GMT
    Christian73 saidQuite simply: Yes.

    Much of what was lost by the rich was on paper. Few, if any, of them lost their homes. In fact, I suspect many more of them were hurt by Bernie Madoff's Ponzi Scheme than by the recession. The stock market has been rebounding and, much of what was lost in paper money is coming back.


    Many of the rich DID lose their homes. Instead of a 2 million dollar home, they had to sell and move out into a 1 million dollar home. LOL