Class warfare

AvgMSUJoe wrote:Wonder how many poor ass scurvy Rs realize that the representatives they elected to office (because they are christian gun lovers) used shady legislative tricks to subvert democracy and cost them big fat raises?

Probably none of them.

You'd think if legislators had a conscious they would feel guilty... but they don't.

tNYT wrote:In the long term, the decline of unions tends to hurt workers: A large recent study, consistent with other research, found that union members made about 20 percent more on average than nonunionized workers who were otherwise similar. The additional wages often came out of corporate profits, which explains why the decline of unions has contributed to rising economic inequality. The shrinking of unions effectively redistributes income from low- and middle-income workers to affluent investors.

So-called supply-side economics was championed as a plan that would enable everyone, from workers to financiers, to thrive together as the economy boomed, but it never produced the kind of growth its promoters promised. Instead, when combined with dramatically increased defense spending, it exploded deficits and added dramatically to the national debt.

At the same time, wealth moved upward dramatically. A 2020 Rand Corporation study found that from 1975 to 2018, about $50 trillion moved from the bottom 90% of Americans to the top 1%. The Biden administration has set out to address this inequity by reimposing the rules that used to prevent corporations and the wealthiest Americans from gaming the system, and by making it easier for working men and women to make ends meet.

TravelinMan wrote:

Travis of the Cosmos wrote:To be fair cam the bank and their shareholders are fucked. They aren’t getting anything from the government. It’s the people who deposited money with that bank getting the money.

Who are themselves assholes that deserve no quarter.

Can you please elaborate on why you believe SVB customers to be "assholes that deserve no quarter?"

TravelinMan wrote:

Trapper Gus wrote:

The VC Assholes Who Fucked Up SVB

VC assholes <> customer assholes

TravelinMan wrote:

Trapper Gus wrote:

TM showing his typical lack of awareness of how the bank run was created the VC assholes.

That’s not what I’m asking about.  I’m asking why Travis thinks the bank customers are assholes.  But apparently he’s not able to discuss his feelings.

Cameron wrote:

Abolish the fed. Fuck those ghouls.

TravelinMan wrote:

Trapper Gus wrote:

One would not think that anyone would need to have it explained how the people who are trying to destroy our country are assholes, but maybe you do?

You think SVB customers are trying to destroy our country?

Will YOU elaborate?  I am clearly out of the loop on this SVB customer hate.

Cameron wrote:

Trapper Gus wrote:I love what Stewart is doing, however the fact is the Fed does not have the authority to rein in corporate profits, which with corporate profits being 50% of the problem, as Jon says, is what they need.

Summers surely knows that the root cause of the issue were transient shocks to the economy.

That's kind of the point. All the Fed has is a hammer, and the problem very obviously requires a screwdriver, yet they are intent to hammer away at working people anyway. So take their fucking hammer away.

Cameron wrote:

Trapper Gus wrote:

The Fed needs that hammer, a screwdriver, a wrench, and about 20 other tools.

If they could slap a 100% tax on excess profits that would be a good start.

I don't want to give all of those tools to unelected, unaccountable plutocrats. I'd far rather strip them of power than give them more.

sεяεηιτλ wrote:

AvgMSUJoe wrote:Wonder how many poor ass scurvy Rs realize that the representatives they elected to office (because they are christian gun lovers) used shady legislative tricks to subvert democracy and cost them big fat raises?

Probably none of them.

You'd think if legislators had a conscious they would feel guilty... but they don't.

Wow, i never heard of this.  So is this going to the supreme court?  Seems illegal.  If you let it happen at all, it would completely nullify ballot initiatives potentially unless the initiative favors one of the parties in power.  You could erase it all and replace it with "fuck the people" and pass it.  There's no way to regulate it sanely really without some kind of extensive bipartisan commission that would study and vote on the amendment's validity.  other then that, it's a free and easy way to kill any people driven initiatives.