Class warfare

Bredo Morstoel wrote:

NigelUno wrote:

I wonder if the global economy will become a little less global as a result of Russia invading Ukraine.

But, it's cute that you're sympathizing with Russian oligarchs.  

Were you a piece of shit when Trump was in office?  

Just because their leader is being a war criminal jackass, doesn’t mean the Russian people are bad.

Putin pretty much decides who gets to be an oligarch in Russia, dude.

Trapper Gus wrote:

Bredo Morstoel wrote:

Were you a piece of shit when Trump was in office?  

Just because their leader is being a war criminal jackass, doesn’t mean the Russian people are bad.

Putin pretty much decides who gets to be an oligarch in Russia, dude.

And our politicians don’t?

Bredo Morstoel wrote:

NigelUno wrote:

I wonder if the global economy will become a little less global as a result of Russia invading Ukraine.

But, it's cute that you're sympathizing with Russian oligarchs.  

Were you a piece of shit when Trump was in office?  

Just because their leader is being a war criminal jackass, doesn’t mean the Russian people are bad.

Do you think the invasion will hold up in court?

Bredo Morstoel wrote:

Trapper Gus wrote:

Putin pretty much decides who gets to be an oligarch in Russia, dude.

And our politicians don’t?

You forgot the "/s" in your post, so I will treat it as though you actually believe what you posted.

No, not person by person the way Putin controls things in Russia.

The laws in the US create opportunities for sociopaths to ruthlessly pursue wealth at the expense of others. Who chooses to do so is an individual choice and the lucky ones become Billionaires.

Trapper Gus wrote:

Bredo Morstoel wrote:

And our politicians don’t?

You forgot the "/s" in your post, so I will treat it as though you actually believe what you posted.

No, not person by person the way Putin controls things in Russia.

The laws in the US create opportunities for sociopaths to ruthlessly pursue wealth at the expense of others. Who chooses to do so is an individual choice and the lucky ones become Billionaires.

Yeah, no /s needed. Trump hand picked winners and losers. To suggest he didn't is dumb.

NigelUno wrote:

Bredo Morstoel wrote:

Were you a piece of shit when Trump was in office?  

Just because their leader is being a war criminal jackass, doesn’t mean the Russian people are bad.

Do you think the invasion will hold up in court?

We're talking about asset confiscation, not acts of war. Please see the official Ukraine thread if you'd like to discuss the legal ramifications of the incursions.

Bredo Morstoel wrote:

NigelUno wrote:

Do you think the invasion will hold up in court?

We're talking about asset confiscation, not acts of war. Please see the official Ukraine thread if you'd like to discuss the legal ramifications of the incursions.

Now back to your 'Just because Putin is bad, doesn't mean every Russian is bad' program.

Who will save the oligarchs?

Bredo Morstoel wrote:

NigelUno wrote:

I wonder if the global economy will become a little less global as a result of Russia invading Ukraine.

But, it's cute that you're sympathizing with Russian oligarchs.  

Were you a piece of shit when Trump was in office?  

Just because their leader is being a war criminal jackass, doesn’t mean the Russian people are bad.

What does Trump have to do with Russian oligarchs?

NigelUno wrote:

Bredo Morstoel wrote:

We're talking about asset confiscation, not acts of war. Please see the official Ukraine thread if you'd like to discuss the legal ramifications of the incursions.

Now back to your 'Just because Putin is bad, doesn't mean every Russian is bad' program.

Who will save the oligarchs?

The term "Oligarch" is like "assault weapon." The majority of people who use the word have no clue what it means or how to define it.

Look, I get it. It's very trendy to be all anti-Russian. There's almost a moral requirement to be against their people. Putin and his government did bad things, and therefore we must take their money, property, boats, and whatnot. And maybe that's the exact pressure the U.S. (and other countries) need to apply to get Putin to stop. But I doubt it. And it doesn't sit easy with me. The Russian people can't be singled out just because their leader is a bad guy. This is how the Japanese ended up in internment camps in the 40s. It's jingoistic racist patriotism.

For one thing - good people will be hurt. My company pulled out of Russia this week, and summarily dismissed 2300 people. I know and have worked with many of them. They're just regular folks doing their job trying to provide for their families. Now they're unemployed thanks to their leader, who they didn't really elect.

I also think it sets a bad (non legal) precedent for the future. The U.S. will elect another President who's every bit of a jack ass as Trump was. And (s)he'll do dumb things. Will other countries see this as an opportunity to extract revenge on U.S. citizens? Will people have their properties and accounts seized?

I am in complete support of the Ukrainian people, and what's happening to them is awful. But people like you claiming Russian civilians can and should be targeted for what their leaders are doing? I'm not convinced that's going to work out all that well.

Conversely, the only influence on Putin can be from his own people. If the people aren't feeling the pain, they wont give a shit.

If the billionaires are now only multi-millionaires... and they can't jet set around the world anymore... they will probably point their rage at the correct target and work to get him the fuck out of his position. (unless of course they agree with him, which most probably just want to make money and hang on their yachts in France and/or S. Florida) It's pretty obvious to anyone who doesn't drink the Russian kool-aid that this is not an attack on a "nazi" Ukraine... And the guy who just had to sell Chelsea FC can afford a whole lot more influence in Russia than anyone else.

Bredo Morstoel wrote:

Trapper Gus wrote:

You forgot the "/s" in your post, so I will treat it as though you actually believe what you posted.

No, not person by person the way Putin controls things in Russia.

The laws in the US create opportunities for sociopaths to ruthlessly pursue wealth at the expense of others. Who chooses to do so is an individual choice and the lucky ones become Billionaires.

Yeah, no /s needed. Trump hand picked winners and losers. To suggest he didn't is dumb.

I need some examples of where this happened, since none at all pop into my head.

Bredo Morstoel wrote:

NigelUno wrote:

Now back to your 'Just because Putin is bad, doesn't mean every Russian is bad' program.

Who will save the oligarchs?

The term "Oligarch" is like "assault weapon." The majority of people who use the word have no clue what it means or how to define it.

Look, I get it. It's very trendy to be all anti-Russian. There's almost a moral requirement to be against their people. Putin and his government did bad things, and therefore we must take their money, property, boats, and whatnot. And maybe that's the exact pressure the U.S. (and other countries) need to apply to get Putin to stop. But I doubt it. And it doesn't sit easy with me. The Russian people can't be singled out just because their leader is a bad guy. This is how the Japanese ended up in internment camps in the 40s. It's jingoistic racist patriotism.

For one thing - good people will be hurt. My company pulled out of Russia this week, and summarily dismissed 2300 people. I know and have worked with many of them. They're just regular folks doing their job trying to provide for their families. Now they're unemployed thanks to their leader, who they didn't really elect.

I also think it sets a bad (non legal) precedent for the future. The U.S. will elect another President who's every bit of a jack ass as Trump was. And (s)he'll do dumb things. Will other countries see this as an opportunity to extract revenge on U.S. citizens? Will people have their properties and accounts seized?

I am in complete support of the Ukrainian people, and what's happening to them is awful. But people like you claiming Russian civilians can and should be targeted for what their leaders are doing? I'm not convinced that's going to work out all that well.

The general idea after the USSR fell apart was that bringing them into the liberal western system of finance and trade would provide the reasons they wouldn't start attacking other countries militarily.

It didn't work, but while they were attacking countries in Asia Europe didn't care that Putin was crazy.

Now their attack is too close to home, and Europe has reason to care.

President Biden, and VP Harris, who did all the face-to-face work, has used this moment masterfully, quickly strengthening the commitments to establish NATO as a vibrant alliance again.

Europe must do something about what is happening, I think you would agree.

The sanctions that have been imposed are more than a wrist slap but much less than cutting all ties or openly fighting.

It sucks for Russians, and for those who do business with Russia, which is quite a number of people.

However, the casue is Pitin and his military attack on Ukraine, so stop blaming the "West" from something Putin caused and expected.

AvgMSUJoe wrote:Conversely, the only influence on Putin can be from his own people. If the people aren't feeling the pain, they wont give a shit.

If the billionaires are now only multi-millionaires... and they can't jet set around the world anymore... they will probably point their rage at the correct target and work to get him the fuck out of his position. (unless of course they agree with him, which most probably just want to make money and hang on their yachts in France and/or S. Florida) It's pretty obvious to anyone who doesn't drink the Russian kool-aid that this is not an attack on a "nazi" Ukraine... And the guy who just had to sell Chelsea FC can afford a whole lot more influence in Russia than anyone else.

This, pretty much.

When we talk about the people who help keep Putin in power, we are talking about this small number of Billionaires who he has set up as part of his inner circle. Not the Russian people, who do vote from him, but all they have to go by is the Russian equivalent of Fox News, so they are pretty much ignorant of what he is doing.

The sanctions are targeted at those who have the most influence on Putin. They are a blunt instrument that will hurt lots of people, but not as drastic as a complete economic break.

Seems like "Free Markets" doon't work all that well with some political situations, which shows that "Free Markets" as a social construct, not a "natural law".

Avalanche of uncertainty drives markets to breaking point

I'm just running across articles on this topic today, here is another.

The Great Vibe Shift Reset

The Pandemic Made the Rich $1.7 Trillion Richer

Thank you, Presidents Kennedy, Johnson, & Bush

The cutting of taxes for the highest incomes is one of the worst things that has ever been done, politically, to the ideals of the United States.

Globally, during the course of the pandemic, Oxfam estimates that “[a] new billionaire has been minted every 26 hours, as inequality contributes to the death of one person every four seconds.” The growth has been particularly pronounced in the United States, where ATF has argued that the $4.6 trillion in assets controlled by this country’s 704 billionaires is “one-third more than the collective $3.4 trillion net worth of the entire bottom half of American society, or some 65 million households.”

Trapper Gus wrote:Thank you, Presidents Kennedy, Johnson, & Bush

The cutting of taxes for the highest incomes is one of the worst things that has ever been done, politically, to the ideals of the United States.

Globally, during the course of the pandemic, Oxfam estimates that “[a] new billionaire has been minted every 26 hours, as inequality contributes to the death of one person every four seconds.” The growth has been particularly pronounced in the United States, where ATF has argued that the $4.6 trillion in assets controlled by this country’s 704 billionaires is “one-third more than the collective $3.4 trillion net worth of the entire bottom half of American society, or some 65 million households.”

How does this negatively affect you? Why do you care?

Bredo Morstoel wrote:

Trapper Gus wrote:Thank you, Presidents Kennedy, Johnson, & Bush

The cutting of taxes for the highest incomes is one of the worst things that has ever been done, politically, to the ideals of the United States.

How does this negatively affect you?  Why do you care?

Well allowing the United States to turn into the current form of government in Russia will affect all of us in negative ways.

Doom Loop for the United States

Wage Study wrote:Nearly one in three workers in the United States makes less than $15 an hour, a new report from Oxfam finds. That’s a big problem: In 15 states and the District of Columbia, $15 an hour is not a living wage for a single adult with no children, according to the MIT Living Wage Calculator. In virtually all of the remaining states, the living wage for a single adult with no children is over $13 an hour. Meanwhile, the federal minimum wage has been stuck at $7.25 an hour for well over a decade, thanks to congressional Republicans blocking an increase even as inflation has chipped away at its value—$7.25 in 2009 was worth $9.17 today.

The pain of 31.9% of workers—51.9 million of them—being paid less than $15 an hour doesn’t fall evenly across groups, and there aren’t any big surprises in how that plays out. Spoiler: White men get off relatively easy.

So White Privilege once again.

Very Liberal Media

Good link if you can read it.
[tw]1554923147916464130[/tw]

This is an important lesson: When conservatives warn that some new proposal will hurt the middle class, take a closer look to see who will really be affected and who they’re really shilling for. It’s almost always the rich and corporations. The angrier they get, the more likely it is that the bill in question is on the right track.

https://smartasset.com/financial-advisor/inflation-reduction-act

According to a one-page summary from Senate Democrats, the Inflation Reduction Act would raise $739 billion in revenue. Less than half ($313 billion) would come from a 15% corporate minimum tax. Another $288 billion would come from prescription drug pricing reform, $124 billion would be raised through IRS tax enforcement and $14 billion would come from the closing of the carried interest loophole.

Senate Democrats initially proposed investing $369 billion in energy security and climate change, and another $64 billion to extend the Affordable Care Act. The proposed legislation would also reduce the deficit by more than $300 billion.

There is NOTHING these ghouls won't try to ruin for a quick buck.

How Wall Street stormed the music business

I was able to read that on a free trial or something, ymmv.

[tw]1562818171140440064[/tw]

So they pass 130% of the increased labor costs on to consumers, am I interpreting that correctly?

Labor costs - typically about 40% to 60% of overall costs, went up 10%

Prices went up 13% - assuming that labor was 60% of costs then about 6% of that was labor increasing.

The other 7% was other costs (material, capital expenses, operating expenses) & profit

Profit jumped 35%, that is earnings after all the other additional costs, labor & others, are included.

Cameron wrote:

Pretty much what I said when this story first hit this board.

Just like how Henry Ford the First did it for Ford

Cameron wrote:

Totally agree ... 54% of inflation is due to profits by corporations ...

Capitalist left to their own devices...

[tw]1591053698176028674[/tw]

A small number of rightwing billionaires today run the show, at least for the moment, and, according to a new study, 27 of them basically own the GOP and thus the ability to block most positive and forward action by the Biden administration.

https://hartmannreport.com/p/can-congress-reverse-the-damage-corrupt

https://americansfortaxfairness.org/issue/report-billionaires-buying-elections/

https://hartmannreport.com/p/beware-of-those-who-believe-they

https://popular.info/p/all-corporations-want-for-christmas

Cameron wrote:

Many people think that humans domesticated cats.

Which is exactly what cats want them to think.

Cats get food, water & shelter all for free.

Defiantly not capitalists.

https://www.buzzfeednews.com/article/stephaniesoteriou/oprah-stunned-100-dollars-gift

https://www.dailykos.com/stories/2023/1/4/2145294/-Bossism-Revolt-of-the-Oligarch-Class

In the 1890s, they were known as “Robber Barons,” wealthy industrialists who created powerful corporations like Standard Oil, Carnegie Steel, and the American Tobacco Company that monopolized industries, dominated workers, and used their enormous concentration of wealth to control Congress and state legislatures.

It is still amazing that people believe that these guys have their best interests at heart.

https://mattstoller.substack.com/p/too-much-winning-antitrust-reform

https://mattstoller.substack.com/p/antitrust-enforcers-to-ban-indentured

Progressives are making progress, slowly.

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.