Inequality

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Andrew
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Re: Inequality

Post by Andrew » 08 Nov 2019, 11:40

lunchstealer wrote:
07 Nov 2019, 21:45
D.A. Ridgely wrote:
07 Nov 2019, 21:35
Shem wrote:
07 Nov 2019, 20:33
My working theory is they think billionaires have money bins a la Scrooge McDuck, and they can just roll up with trucks and pack up two thirds of the contents and call it a day.
Yep.

Actually, if I had as much money as Gates, etc., I probably *would* have a basement vault filled with gold coins and jewels I could go wallow in because why not?
Because it's really heavy and it'd be a PITA to have your foundation shored up to handle it?
Plus the tendency to attract dragons.
We live in the fucked age. Get used to it. - dhex

The sun only shines when a woman is being sexually abused. - Warren

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Warren
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Re: Inequality

Post by Warren » 08 Nov 2019, 11:44

Andrew wrote:
08 Nov 2019, 11:40
lunchstealer wrote:
07 Nov 2019, 21:45
D.A. Ridgely wrote:
07 Nov 2019, 21:35
Shem wrote:
07 Nov 2019, 20:33
My working theory is they think billionaires have money bins a la Scrooge McDuck, and they can just roll up with trucks and pack up two thirds of the contents and call it a day.
Yep.

Actually, if I had as much money as Gates, etc., I probably *would* have a basement vault filled with gold coins and jewels I could go wallow in because why not?
Because it's really heavy and it'd be a PITA to have your foundation shored up to handle it?
Plus the tendency to attract dragons.
Having your own dragon is a given.
THIS SPACE FOR RENT

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tr0g
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Re: Inequality

Post by tr0g » 08 Nov 2019, 11:50

We're almost to the point where billionaires start genetically engineering dragons for lulz, but not quite yet.
Yeah but how can you tell at a glance which junk a raccoon is packing? Also, gay raccoons? - Hugh Akston
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JD
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Re: Inequality

Post by JD » 08 Nov 2019, 12:22

Congress is considering imposing an interest rate cap: https://www.n pr.org/2019/11/07/776769597/a-ban-on-high-cost-loans-may-be-coming

It's hard to defend payday lenders, but frankly most of the arguments for the cap are patronizing at best. "It's hard to imagine who would want to take out a loan with an interest rate of of 150 or 200% a year."
"There are so many other alternatives. There are credit union loans. Families turn to nonprofits, to their churches."
And the borrowers are "likely just plain financially illiterate."

Yeah, but THOSE ALREADY EXIST. If they covered everyone's needs, presumably there wouldn't be any payday lenders. Just to try it out, I googled a few payday lenders' websites and looked for information for various states. Some of them definitely make it easier than others. For https://www.cashnetusa.com/, there's big text that says stuff like "APR: 260%". For https://www.acecashexpress.com/, there's an annoying image of a table, but there it is: "APR: 391%" For others, I had trouble finding rates without going through a whole process. If you're going to take out a loan, I do think it's kind of your responsibility to find out what the rate is, though. The alternative is a fairly frank position that people are dim cow-like creatures who can't understand things and must be kept safe by their betters.
I sort of feel like a sucker about aspiring to be intellectually rigorous when I could just go on twitter and say capitalism causes space herpes and no one will challenge me on it. - Hugh Akston

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Jennifer
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Re: Inequality

Post by Jennifer » 08 Nov 2019, 14:25

"By almost every major statistical measurement,* the average American is worse off than they were a generation ago."

*Except the measurement of "Precisely what cutting-edge technology is available to them, compared to previous generations."

https://getpocket.com/explore/item/the- ... ket-newtab
... In the future, people will probably point to the 9/11 terrorist attacks as the inflection point where the US began its slow descent away from global dominance. But the truth is that the deteriorating forces have been at work within the country for decades.

By almost every major statistical measurement, the average American is worse off than they were a generation ago. Some pundits have taken to blaming the younger generations, saying that they’re entitled, self-centered, too absorbed in their smartphones to work,8 and while some of those complaints may have a grain of truth to them, the data suggests that the kids are not the problem.

Generally speaking, Americans today, especially young Americans, are the most educated and productive generation in US history [chart]:

But they are also incredibly underemployed or unemployed: [chart]

This is for the simple reason that there are no jobs, especially middle-class jobs. Despite Obama’s impressive proclamation that he’s halved the unemployment rate since he took office, most of the drop in unemployment since the 2008 crisis has come from part-time or low-skilled jobs, and from people leaving the workforce altogether....
"Myself, despite what they say about libertarians, I think we're actually allowed to pursue options beyond futility or sucking the dicks of the powerful." -- Eric the .5b

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JasonL
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Re: Inequality

Post by JasonL » 08 Nov 2019, 18:44

There is a lot of nonsense in there. I can take or leave the harmfulness of the american dream idea, but ... it's super weird that he didn't talk about women at all, their successes, their education, their earnings, their outcomes. It's super weird that the post recession trend line for under employment isn't discussed at all. His data set for employment and wages stop at either '14 or 15 and we have had 4 years of expansion in those areas since then. The analysis of global trade and economic development is not sophisticated.

Look, we may be an relatively low growth era for the foreseeable future. We may be in a world where certain skills have tremendously more value in the market than others. But that's not the only story.


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JasonL
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Re: Inequality

Post by JasonL » 08 Nov 2019, 18:51

Here's the follow up Household income one:


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