wbyeats@[EMAIL PROTECTED]
wrote:
> On Tue, 5 Feb 2008 14:10:14 -0800 (PST), MichaelNJ@[EMAIL PROTECTED]
wrote:
>
>> On Feb 5, 11:36 am, Jerry Kraus <jkraus_1...@[EMAIL PROTECTED]
> wrote:
>>> ...but, this time, the stock market is a lagging indicator. Usually,
>>> a falling stock market leads to a recession. But, this time, the
>>> stock market is falling because investors are realizing, after the
>>> fact, that we are already in a recession. This is not a good sign for
>>> the economy. It means that even with heavy equity investment, the
>>> economy has nowhere to go, given the current structure of things. It
>>> means that no matter how much money is invested in the current
>>> economic structure, it will remain in depression.
>>>
>>> There is a very simple reason for this. There is no middle class
>>> anymore. There are a small number of very rich people, and huge
>>> numbers of poor people. So, the vast majority of people have no money
>>> to spend, and no op****tunity to participate in the economy. So, there
>>> are no markets. There are no consumers.
>>>
>>> UH-OH!!! Time to spread the money around!!!
>> spoken like someone who want to legally steal from the rich. Come on
>> admit it - your jealous.
>>
>> Often referred to as class envy or class warfare.
>
> How about fairness? The entire thrust of the current administration
> has been to feed the fat cats that elected Wee Georgie. The two tax
> relief bills were aimed at the rich. The energy policy gave away over
> $50 billion to the oil companies who are releasing earnings that are
> the highest in history. The gains in disposable income have chiefly
> been for the top 10% of Americans. The other 90% have gained nothing
> in disposable income. In fact, they have less as real world inflation
> - food, energy, housing - have run at 5.3% per year. The disparity
> between the average American and the rich has grown dramatically over
> the past 7 years - that fool Sowell uses bogus figures to prove the
> opposite. You are, however, correct about one thing only it's not envy
> - it is class warfare on the political front if things don't get
> better for the average American. Look to history to discover the
> results of huge disparities betwen the haves and have nots.
>
> WB Yeats
Bush is a Ronnie Reagan Republican. Ronnie Raygun traded
low oil prices for votes. Increases in oil prices happened
anyway because of Chinese and Indian increases in demand. This
left the oilies in the catbird seat. Other than the various
bubble situations in both China and India, this had little
or nothing to do with tax policy or any other administration
moves.
The top 10% gained because all the growth was driven
by the flood of foreign money flowing into the country.
There wasn't much additional real production to balance it,
so wages weren't rising as quickly. People flipped
houses, which raises GDP but nothing tangible gets built.
--
Les Cargill
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