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Pic Of The Moment: You Don't Have To Be A Master Sleuth To Figure Out What's Going On (Original Post) EarlG Apr 2014 OP
K&R!!! 2naSalit Apr 2014 #1
Isn't George W Bush enough to prove that US meritocracy is a sham? Doctor_J Apr 2014 #2
It's a solid piece of evidence. I'll give you that. Enthusiast Apr 2014 #7
I'll add in JEB, Palin, Glen Beck, Newt Gingrinch, and Rick Perry Doctor_J Apr 2014 #9
And don't leave out Rmoney...nt freebrew Apr 2014 #20
Takes intelligence to steal on such a grand scale... Mondavi Apr 2014 #30
George Bush didnt need any intelligence to gain his wealth. His daddy did it rhett o rick Apr 2014 #34
And his father before him. Also helps to have no conscience. Mondavi Apr 2014 #36
He's just a shrub off the ol' Bush... elzenmahn Apr 2014 #28
K&R gademocrat7 Apr 2014 #3
Once again Michael Moore is left out... lame54 Apr 2014 #4
+1 FailureToCommunicate Apr 2014 #25
! BlancheSplanchnik Apr 2014 #5
"No shit, Sherlock." Enthusiast Apr 2014 #6
See 2 posts above lame54 Apr 2014 #14
Two recs, one for the post and one for featuring Rathbone and Bruce Auggie Apr 2014 #8
Reading "A Fighting Chance" now Aldo Leopold Apr 2014 #10
but trickle down DOES work hfojvt Apr 2014 #11
K&R n/t Joe Shlabotnik Apr 2014 #12
Thomas Geoghegan: "Infinite Debt: How Unlimited Interest Rates Destroyed the Economy" Junkdrawer Apr 2014 #13
When more money is made FINANCING the car than SELLING the car... Junkdrawer Apr 2014 #16
K&R. JDPriestly Apr 2014 #15
Say what you want...... mdm646 Apr 2014 #17
for those who don't have time to read them now passiveporcupine Apr 2014 #18
This is why 'New Democrats' are harmful cprise Apr 2014 #19
I'm with you there... elzenmahn Apr 2014 #29
Think you have to take it down to any Democrat who takes... Mondavi Apr 2014 #31
i knew it was bullshit in 79 + i was not in high school yet. pansypoo53219 Apr 2014 #21
I'd like to see a democratic led congress lovemydog Apr 2014 #22
Tell us how much it's changed in the last five years... JackRiddler Apr 2014 #23
Not usually a fan of the following cartoon but seems to sum up "trickle-down economics"... pkdu Apr 2014 #24
Its Very Elementry Watson polynomial Apr 2014 #26
Yup. I remember when George H.W. Bush called it "Voodoo Economics." SunSeeker Apr 2014 #27
I could totally picture Shawn and Gus from Psych having a 10 minute conversation... Initech Apr 2014 #32
If people here REALLY knew what was going on, they wouldn't vote for Third Way "Democrats" and keep blkmusclmachine Apr 2014 #33
I think they are afraid to take a chance with change. Real change, not Obama change. rhett o rick Apr 2014 #35
k&r n/t RainDog Apr 2014 #37

Enthusiast

(50,983 posts)
7. It's a solid piece of evidence. I'll give you that.
Mon Apr 28, 2014, 01:30 PM
Apr 2014


When they rigged the G W Bush presidential election it was a signal to the rest of us that any meritocracy pretenses were out the window.
 

Mondavi

(176 posts)
30. Takes intelligence to steal on such a grand scale...
Tue Apr 29, 2014, 01:08 AM
Apr 2014

it would be wise not to underestimate their abilities in that regard.

elzenmahn

(904 posts)
28. He's just a shrub off the ol' Bush...
Mon Apr 28, 2014, 08:56 PM
Apr 2014

...the very existence of a large aristocracy, which is what we're fast approaching, puts the lie to the sham.

Enthusiast

(50,983 posts)
6. "No shit, Sherlock."
Mon Apr 28, 2014, 01:25 PM
Apr 2014

Well. Someone needs to get the message out there.

How about we stop operating the government and economy as if trickle down is a viable strategy?

Aldo Leopold

(685 posts)
10. Reading "A Fighting Chance" now
Mon Apr 28, 2014, 01:48 PM
Apr 2014

and the writing's a bit simplistic, but the book is absorbing and surprisingly powerful. I hope it leads to some progressive change in this country.

hfojvt

(37,573 posts)
11. but trickle down DOES work
Mon Apr 28, 2014, 01:49 PM
Apr 2014

It does exactly what it was DESIGNED to do - it puts more money in the pockets of the rich. Or maybe I should say the vaults of the rich.

In that respect, it works like a charm.

Junkdrawer

(27,993 posts)
16. When more money is made FINANCING the car than SELLING the car...
Mon Apr 28, 2014, 02:48 PM
Apr 2014

Something is very, very wrong.

And then there's the profits from financing overseas adventures....

mdm646

(19 posts)
17. Say what you want......
Mon Apr 28, 2014, 03:12 PM
Apr 2014

Say what you want but the law is still the law and was cemented into place by the current administration. What a waste of a vote

passiveporcupine

(8,175 posts)
18. for those who don't have time to read them now
Mon Apr 28, 2014, 03:13 PM
Apr 2014

Last edited Mon Apr 28, 2014, 04:14 PM - Edit history (2)

A few points from the articles listed in the OP about Piketty's book.

The Guardian:

Piketty has written a marvellous, persuasive book...
Most important, it is rooted in the facts of inequality that cry out for explanation.


Piketty shows that in rich countries at the frontier of technology and skills, the growth of incomes is between 1% and 2% a year. Meanwhile, the rate of return on capital averages about 4% to 5% a year. So those who draw their income from capital returns will outstrip wage earners and "inherited wealth grows faster than output and income".


One of the biggest battles in most developed countries' politics turns out to be wrong. The right was meant to be nasty and selfish, but good for growth. The left was soft and kindhearted, but a threat to prosperity.


The Demoines Register:
he U.S. economy has begun to decay into the aristocratic Europe of the 19th century. Hard work will matter less, inherited wealth more. The fortunes of the few will unsettle the foundations of democracy.


In an interview, Piketty, 42, held forth on the "dangerous illusion" of the meritocracy, why China is unfairly blamed for flat U.S. wages and his fix for limiting inequality.


From Krugman:
No, what's really new about "Capital" is the way it demolishes that most cherished of conservative myths, the insistence that we're living in a meritocracy in which great wealth is earned and deserved.


Time
It’s going to be remembered as the economic tome of our era. Basically, Piketty has finally put to death, with data, the fallacies of trickle down economics and the Laffer curve, as well as the increasingly fantastical notion that we can all just bootstrap our way to the Forbes 400 list.


Never mind. I cannot keep doing this...there is too much I have to leave out due to rules of quoting. The message I have for everyone who cares about what is happening to the health of America today, is read this damn book...NOW! (or as soon as you can get it ) Also, read the links in the OP.

This is going to be a book that turns the tide of American thinking concerning wealth and growth.

cprise

(8,445 posts)
19. This is why 'New Democrats' are harmful
Mon Apr 28, 2014, 03:14 PM
Apr 2014

They are all about using 'free trade' to skirt labor and environmental laws and appointing corporate lobbyists to regulatory positions within the government.

That is not to mention the zeal with which they adopted the Drug War cry... prison expansion is major part of their legacy.

Let this post be an indicator of just how rotten is the Clinton wing of the Democratic party.

elzenmahn

(904 posts)
29. I'm with you there...
Mon Apr 28, 2014, 08:59 PM
Apr 2014

...and the more time goes by, the worse Bubba looks - and that's without the misadventures with the Blue Dress.

Now his wife will likely be the Dem nominee.

I'm getting tired of this bullshit.

 

Mondavi

(176 posts)
31. Think you have to take it down to any Democrat who takes...
Tue Apr 29, 2014, 01:12 AM
Apr 2014

corporate money. They're all guilty.

lovemydog

(11,833 posts)
22. I'd like to see a democratic led congress
Mon Apr 28, 2014, 05:07 PM
Apr 2014

double or triple the marginal tax rate on the rich, and close loopholes for big corporations.

 

JackRiddler

(24,979 posts)
23. Tell us how much it's changed in the last five years...
Mon Apr 28, 2014, 05:17 PM
Apr 2014

Because, of course, it's only gotten worse. The 1% continue to own more and to run more, every year.

This is thanks in large part to the immunity and bailout of the financial sector (a.k.a. "Wall Street&quot despite its having been the site of some of the greatest in-your-face economic villainy ever seen. That would be the most important continuity between the Bush and Obama years.

polynomial

(750 posts)
26. Its Very Elementry Watson
Mon Apr 28, 2014, 06:29 PM
Apr 2014

We the people have only one way to deliver a Coup De grace to the one percent. That is to deliver the mortal blow by voting in the next election. Then to see if the Democrats will do something cool like throw a huge bunch into the slammer. We should be talking about thousands of criminal free speech money/ tea baggers.

The whole system is based on wreck-less convoluted indemnity agreements that span the spectrum from that mysterious secret derivative market which Wall Street made off with trillions of dollars disappearing into secret bank accounts. The easy money in the black hole of the secret Federal Reserve pipelined to secret Swiss bank accounts. Then you have basic insurance and land title fraud derivative swaps. All still veiled in the background intensely avoided by the mainstream media.

The three winners of all time profiteering is the free speech is money, home loan derivative title fraud, and the deception to undermine free healthcare in America. Of course five dollar a gallon gas is following close.

It puzzles me why Americans are still "Howdy Duty Time" dumb while searching to be computer polynomial time smart, because the Cayman Islands loaded with corporate postal address’ are a tax haven known for the last century. It’s no wonder the bipolar political fascist need to privatize the post office to get that profiteering money faster.

Isn’t that a British territory that begs the debate in here the money profiteered not only does not trickle down but geysers up to the top like old faithful at Yosemite Park, or scatters up like oil gushing strike or a broken pipeline that isn’t any corporate fault but the tax payers.

SunSeeker

(51,564 posts)
27. Yup. I remember when George H.W. Bush called it "Voodoo Economics."
Mon Apr 28, 2014, 08:08 PM
Apr 2014

But at some point the Republicans all fell in line. Now, you can't find an elected Republican who doesn't tow the trickle-down economics line.

Initech

(100,079 posts)
32. I could totally picture Shawn and Gus from Psych having a 10 minute conversation...
Tue Apr 29, 2014, 02:09 AM
Apr 2014

About what "no shit Sherlock" means.

 

blkmusclmachine

(16,149 posts)
33. If people here REALLY knew what was going on, they wouldn't vote for Third Way "Democrats" and keep
Tue Apr 29, 2014, 04:21 AM
Apr 2014

expecting them to actually BE Democrats! ...

 

rhett o rick

(55,981 posts)
35. I think they are afraid to take a chance with change. Real change, not Obama change.
Tue Apr 29, 2014, 10:24 AM
Apr 2014

They are afraid to risk their comfortable bubble for the chance of improving life for the millions suffering.

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