Rising Prices Widen Gap Between Rich and Poor »
Posted by: jovial 10 months, 1 week agoCentral banks flooded the world with cheap money for years, helping the rich get richer. Now inflation is on the horizon, threatening to make the poor even poorer.
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jovial10 months, 1 week ago
Are we on a downward spiral towards inflation? This author seems to think so. Prices of everything is going up. From Gasoline to lumber to wheat. As the world is being flooded by dollars the prices have to go up. Bernanke and Greenspan have kept interests rates low. This has allowed Businesses to become more profitable, but what will happen to the poor and middle class?
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mcgrievysr10 months, 1 week ago
jovial----"This has allowed Businesses to become more profitable, but what will happen to the poor and middle class?"
The neocons who tout their business successes "due to their hard work", really don't care what happens to the poor and the middle class, nor does the present administration.
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donald5110 months, 1 week ago
Like Newt Gingrich, the College Historian, said during the 109th Republican Congress: not since before the Great Depression have the Republicans been in such control of the government. Vile Republicans, un-American Republicans, just insuring that there are more poor that have to go into the military just to survive... Lowest reinlistment since '73 during the Vietnam War! And they want to take on Iran too - God, help us from these self-righteous fools?
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cowboygrandpa10 months, 1 week ago
The wealthy have increased their earnings by 10%. While the low income earner has lost 5% over the same period of time. Well trickle down economics at work. Pi*s on the working class who make things happen. Watch the crime rate begin to rise as the poor begin to steal to survive. More will lose their houses. More will default on loans and credit cards. This is not good news to any even the wealthy. Of course with a down turn of the economy. More young people may enter the military service. What a sad statement. Have to join the service to make a living. There is nothing wrong with serving our nation. One shouldn't do it just to survive tough eceonomic times though.
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donald5110 months, 1 week ago
They'd be forced to care if we had a draft and they couldn't buy their kids out of it or political pull to get a job like Dumya did when he jumped thousands of more qualified potential pilots in the Texas Guard.
Didn't Dumya say this is the ideological conflict of our times? Why no draft to insure success and the forces to backup his further sabre rattling? Oh yah, he said no draft - does he have any cohesive thought process at all?
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cowboygrandpa10 months, 1 week ago
donald51: Didn't work to well in Nam. Didn't see a lot of rich kids humping it over there. Maybe they were stateside with Bushie and his crowd. But yeah we will need the draft again if they continue this foolishness much longer. Or they could get deferments like Cheney. Yeah the chickenhearts rule the civilian part of the war dept. Lets go kick their as*ses Bush and Cheney say from the comfort of the whitehouse. Doesn't hurt us a bit.
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donald5110 months, 1 week ago
Not just the Bush plan, but a Repug Plan as evidenced by the past repug Congress letting big business write the laws and spend without consequence. Further, look at how well the Repugs have violated all their promises made in the Contract to America. There is a reason only republican presidents have had actual convictions at the cabinet level from Watergate to Iran Contra and now Plamegate (and more if the president's stonewalling and contempt of Congress could be overcome).
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awongscreen10 months, 1 week ago
This cannot be a Bush Plan. He is just a tool (and beneficiary) for big corporations.
Business push for capitalism (meaning the right to maximise profits by all means) by controlling governments, polticians, IMF, World banks. Bush just help by taking from the poor and give it to the rich.
The real scary part is people electing politicians who push for free economy, deregulation.
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Spadecaller10 months, 1 week ago
Shopping at the supermarket is like it used to be in the Soviet Uninion. If it's there, its not that fresh, and costs a small fortune. Who has ever heard of paying over $2.00 a pound for tomatos, over a dollar an apple, and over $3.00 for a small bag of spinach laced with ecoli? Great!
Bush is quite pleased with the economy, though. When was the last time he went into a supermarket? Remember his father; he was so impressed with the scanning devices. Maybe George should make the undocumented workers wear bar codes on there way across the borders.
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willottica10 months, 1 week ago
In Calgary (Canada), the average price of homes has gone up 200% in the last 5 years, the average salary: 20%. Awesome if you already owned your home -- but anyone who didn't is up spit creek. I'll be renting for a long time.
Part of the 'inflation' in the States right now is actually the devaluation of your currency, so don't feel like prices are that out of control. Actually, since many of those countries have their dollars tied to USD, almost all of it might be American inflation/devaluation...
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jovial10 months, 1 week ago
You will experience the same bubble that we did. My friend sold his 1BR 1BA house for 300,000.00. This house sat in a rundown area of San Diego. He bought it six years earlier for 85,000.00. He thought he got a good deal. Last year the same home sold for 395,000.00. How's that for home prices.
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Jaydee4010 months, 1 week ago
Alberta's boom right now has people getting payed 20.00 dollars an hour to work at Tim Horton serving coffee while in the rest of the country they get payed 7.50. One source states rent has jumped from 900. a month to around 2000., that's in Edmonton.
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NelsonR10 months, 1 week ago
Yes the past was mighty good to make your assets look good on paper but now you and your grandchildren will pay the cost. If you shop at Walmart take a magnifier to see where the items were produced, you will be amazed. Every dog treat I looked at were from China and we all know how their made and with what. Once told my wife, don't be concerned about the food we consume, its produced locally, I was wrong. One good note thought our upper class went to great lengths to obtain a larger bottom line while putting another American either out of work or with lesser benefits. Our government and upper crust in action.
How in the heck does England put up with the class distinction in their society, its archaic and antiquated but if you need to worship another for being in a higher class distinction, go for it.
The Queen and her entourage do use commodes, I think???
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Jaydee4010 months, 1 week ago
Come on nelson, would you not rather worship royalty than the latest holly wood skank or whatever CEO who's running high this season? The Brits chose to have their royalty because it gives them a past to cling to, the Monarch is for show and ceremony. The monarch's power was striped away in the sixteen hundreds, dukes and lords are mere business families who have manages to keep their wealth by shrude and dubious dealing over countless years, they still have but one vote and one voice the same as you or I.
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amIdreaming10 months, 1 week ago
What's also sad is that the republicans could not have done all this without your average garden variety knucklehead buying into their hate and fear mongering and electing him twice. Sadly, they put their own head in the noose. Know what's even more sad? they'll blame "Hillary", "Clinton 1", "the Democrats" and everyone but themselves on their way down the toilet.
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ETproductions10 months, 1 week ago
Back on our way to the wealthiest 1% owning over 50% of everything in America -- just where a long string of Republican rule got us in 1929 before the great depression.
In the last 35 years of mostly Republican rule, the wealthiest 1% have doubled their accumulated holdings. By 2004 they were back up to owning 42% of everything here, but that's still nowhere near enough.
That 1% have a perfectly good reason to vote Republican. All the spin mastering and truthiness of the New Republican party that Reagan brought in was aimed at hoodwinking another 50% of the electorate to vote against their own best interests.
Of course, things got considerably easier by 2000. With major corporations building the electronic voting machines, a much smaller percentage of the vote would still do the trick.
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DarkWizard10 months, 1 week ago
Good post Jovial.
Good comments.
IMHO, we are only seeing the tip of the iceberg as all markets have become intertwined within the global community and economic imbalances can't be as easily offset by investing in foreign markets. Yes, there are still ways around economic spikes, but the majority of people are not educated (formally or otherwise) in finance or economics and will fall victim to the mishandling of investments, interest rates, and government funding/bail outs.
Of course, big corporations and the wealthy won't feel much as they have built tax shelters and diversified their investments to offset economic imbalances. Nothing new there.
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0gramstransfat10 months, 1 week ago
This goes beyond Bush. This is what happens when the economy, the accumulation of wealth and financial gain is the driving force of our endeavors. Oh yes, one more thing to ****** us middle class people off, for the rich, about 20% (actually, it was 17% in the news story I saw.) of their yearly earnings go to pay their taxes. For the middle class, it is over 30%.
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willottica10 months, 1 week ago
Tim Horton's around here is $15/hour the last I checked... many restaurant drive-thrus have closed because of lack of staff, the Interfaith Thrift Stores in town went out of business because they couldn't keep/pay employees. And yes, a few years ago, you could easily rent a 2-bedroom for 650-750, now the average is up to around 1500 for the same apartment.
Edmonton's wasn't seeing quite as bad as Calgary, but maybe they've caught up now.
It's a "boom" for the province, leaving thousands homeless and businesses in dire straights because there aren't enough people for the jobs, because the jobs don't pay near enough to afford rent/housing for a family.
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Submitted By:
jovial
Grew up In Brooklyn. Joined the Navy in 1976 stayed in 10 years. Aircraft Electronics tech. Worked for Major Govt. contractor then settled in California ...
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