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Title: Obscene wealth
Source: BBC
URL Source: http://www.bbc.com/news/business-35339475
Published: Jan 17, 2016
Author: paraclete
Post Date: 2016-01-17 23:06:56 by paraclete
Keywords: wealth, money
Views: 8349
Comments: 85

Most of us would not think of our circumstance as more than adequate while some just don't have what they need but 1% have as much as the other 99% and this has to be seen as obscene. Modern economies focus on the success of the individual ignoring opportunity for the many, but something is out of whack when this results in a small group gaining all the resources. Apparently $1 million will put you in the 1% club so we arn't necessarily speaking of the super rich although the actions of some are obscene like alledged billionaire Clive Palmer who had one of his companies make political contributions to his own political party while trying to convince government that his company was bankrupt and needed a handout. I really don't care if Donald Trump spends $2 billion in his election campaign but I do think it is obscene he has that capability. Arn't there more important things he could do with the money? Couldn't he do a Bill Gates?

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Begin Trace Mode for Comment # 33.

#2. To: paraclete (#0) (Edited)

Arn't there more important things he could do with the money? Couldn't he do a Bill Gates?

How much do you think you know about Bill Gates and his background?

On another suject, I have no objection to people who obtain wealth by building new industries. It benefits all of us. Have you done anything with your life except resent and complain about those who have?

What I do object to is people who use political means to consolidate and perpetuate their do-nothing inherited positions.

rlk  posted on  2016-01-18   1:54:55 ET  Reply   Untrace   Trace   Private Reply  


#3. To: rlk (#2)

Have you done anything with your life except resent and complain about those who have?

Yes my life has been very productive. What you fail to realise is that a life built on gaining wealth at the expense of other people is not something to be applauded. I used Gates as an example of someone who obviously realised he needed to share his wealth.

paraclete  posted on  2016-01-18   5:31:39 ET  Reply   Untrace   Trace   Private Reply  


#11. To: paraclete, All (#3)

What you fail to realize is that a life built on gaining wealth at the expense of other people is not something to be applauded.

What you don't realize of that you are a victim of the left's meme of economic and financial gains are a zero sum game, i.e. - I can only earn a dollar at the expense of someone losing it. This is pure BS.

To be sure there are those that lie, cheat and steal. There are those that bribe politicians to make laws that benefit their pocketbook, usually at the expense of others. But who really is at blame here, the one that bribes or the ones that accept the bribe? Or the ones that continually elect those that accept the bribes?

Like Clinton before him, Obama will leave office are very, very rich man. They were not remotely so when they took office. The same is true form most elected officials in DC. You are a sucker for their scam.

SOSO  posted on  2016-01-18   11:08:19 ET  Reply   Untrace   Trace   Private Reply  


#13. To: SOSO (#11)

What you don't realize of that you are a victim of the left's meme of economic and financial gains are a zero sum game, i.e. - I can only earn a dollar at the expense of someone losing it. This is pure BS.

True, it is not a zero sum game. When the wealth concentrate and wages stagnate or go down, the economic pie contracts and stagnates. Like in old Egypt or India, or American South, where Job Creators had it all. The sum can be negative.

A Pole  posted on  2016-01-18   11:29:45 ET  Reply   Untrace   Trace   Private Reply  


#14. To: A Pole (#13)

The sum can be negative.

It is definitely possible for the economic pie to shrink, the USSR for example proved that. But in the U.S. the economy has consistently grown with just about all sharing in some to degree.

SOSO  posted on  2016-01-18   11:35:38 ET  Reply   Untrace   Trace   Private Reply  


#16. To: SOSO (#14) (Edited)

It is definitely possible for the economic pie to shrink, the USSR for example proved that

Soviet economy was growing until Free Market reforms and country falling apart under Yeltsin.

But in the U.S. the economy has consistently grown with just about all sharing in some to degree.

Especially during the Great Depression.

A Pole  posted on  2016-01-18   12:41:00 ET  Reply   Untrace   Trace   Private Reply  


#17. To: A Pole (#16)

It is definitely possible for the economic pie to shrink, the USSR for example proved that

Soviet economy was growing until Free Market reforms and country falling apart under Yeltsin.

Not for the average Boris.

"But in the U.S. the economy has consistently grown with just about all sharing in some to degree.

Especially during the Great Depression.

And? Every economy has down cycles. FYI the upper class was hit much more hard than the rest of the country during the Great Depression both in relative and absolute terms.

What we are talking about is the economic well being of ALL of a country's citizens. You obviously think that the USSR did very well by all of its people since is inception in the 1920s. Can I have some of what you are smoking?

No country in history has developed as robust, broad and deep economically well off middle class than the U.S. Even the bottom rung of the U.S. economy enjoy a standard of living higher than the middle class of most countries in the world, and batter than the upper class of several.

SOSO  posted on  2016-01-18   13:16:58 ET  Reply   Untrace   Trace   Private Reply  


#22. To: SOSO (#17)

No country in history has developed as robust, broad and deep economically well off middle class than the U.S.

Thanks to FDR and New Deal, earlier to some extent to the plentiful land taken from Indians. Now this advantage is evaporating.

Even the bottom rung of the U.S. economy enjoy a standard of living higher than the middle class of most countries in the world,

I am curious, how do you measure standard of living? Discretionary income, freedom from debt, leisure time, happy stable families, number of TVs and cars per family, life expectancy, secure jobs, medical care, equal access to justice, culture like number of books read per year, foreign travel, meat, fish and fruits consumed per year?

A Pole  posted on  2016-01-18   17:52:04 ET  Reply   Untrace   Trace   Private Reply  


#25. To: A Pole (#22)

No country in history has developed as robust, broad and deep economically well off middle class than the U.S.

Thanks to FDR and New Deal, earlier to some extent to the plentiful land taken from Indians.

Absolute BS. Thanks goes to Hitler and ToJo. It was WWII that catapulted the U.S. economy and expanded and deepened the middle. The New Deal did little to improve unemployment in the U.S. thru the 1930s.

I am curious, how do you measure standard of living? Discretionary income, freedom from debt, leisure time, happy stable families, number of TVs and cars per family, life expectancy, secure jobs, medical care, equal access to justice, culture like number of books read per year, foreign travel, meat, fish and fruits consumed per year?"

Yes.

SOSO  posted on  2016-01-18   20:11:27 ET  Reply   Untrace   Trace   Private Reply  


#28. To: SOSO (#25)

"I am curious, how do you measure standard of living? Discretionary income, freedom from debt, leisure time, happy stable families, number of TVs and cars per family, life expectancy, secure jobs, medical care, equal access to justice, culture like number of books read per year, foreign travel, meat, fish and fruits consumed per year?"

Yes.

Yes what?

Life expectancy - position 34th.

Leisure/vacation time?

Divorce rate?

Incarceration rate?

Indebtedness?

A Pole  posted on  2016-01-19   2:22:16 ET  Reply   Untrace   Trace   Private Reply  


#31. To: A Pole (#28)

Life expectancy - position 34th.

Another total BS stat. Learn something instead of being a total dupe that buys into all the propaganda BS you are fed. Take the time to adjust the life expectancy data to the real world by putting the data on an equal footing, i.e. - same basis. You need to adjust the data for each country to reflect a common demographic of gender, race, aggressiveness in pursuing difficult pregnancies to term, suicide, accidents, etc. When to do that you get an ENTIRELY different picture of the true comparative state of health care among countries. And guess what, Boris, the U.S. is at the top tier of the list. You are a chump sucker little sheep that doesn't have the balls or intellectual integrity to investigate for your self.

SOSO  posted on  2016-01-19   11:20:06 ET  Reply   Untrace   Trace   Private Reply  


#33. To: SOSO (#31)

You need to adjust the data for each country to reflect a common demographic of gender, race, aggressiveness in pursuing difficult pregnancies to term, suicide, accidents, etc. When to do that you get an ENTIRELY different picture of the true comparative state of health care among countries. And guess what, Boris, the U.S. is at the top tier of the list. You are a chump sucker little sheep that doesn't have the balls or intellectual integrity to investigate for your self.

Show me. Show how you take into account all these factors and how you come on top.

I suspect that you assume superiority from the start and adjust facts and interpretations to fit to this fixed "truth". But I am open to the compelling reasoning. I have no stake in accepting that Americans or Swiss or Japanese are on top. I will gladly learn about it.

A Pole  posted on  2016-01-19   12:57:10 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 33.

#35. To: A Pole (#33)

Show me. Show how you take into account all these factors and how you come on top.

I suspect that you assume superiority from the start and adjust facts and interpretations to fit to this fixed "truth". But I am open to the compelling reasoning.

The information is out there, Boris. Since you will not believe my work do it yourself......if you have the courage and intelligence. Get back to me when you have, which I expect will be never as you do not have the intellectual or moral integrity to do this honest work. The truth is out there, chumo, but you will never find it.

SOSO  posted on  2016-01-19 13:07:17 ET  Reply   Untrace   Trace   Private Reply  


#37. To: A Pole (#33)

I suspect that you assume superiority from the start and adjust facts and interpretations to fit to this fixed "truth". But I am open to the compelling reasoning. I have no stake in accepting that Americans or Swiss or Japanese are on top. I will gladly learn about it.

OK, I will take you at your word. Here's how you would go about this. First understand that most countries do not publish health and demographic data in the detail that you will need to do the adjustments as the U.S. does.

The first thing you look for is the life expectancy data for a country by demographics, i.e. - gender, race, etc.. It is a well documented fact that blacks in just about every western European country and most other places have a shorter life expectancy than the white population in that country and usually shorter than latinos in that country.

Therefore you cannot compare the raw unadjusted data for say a country with a black 13% population with that of a country with just 2% black population. You must put the two on an equal demographic basis by adjusting the reported life expectancy to reflect the same percentage of blacks. In other words, if you adjust the overall life expectancy of country with 13% blacks down to 2% blacks the life expectancy for that country will rise (conversely of you adjust the country with 2% blacks up to 13% its overall life expectancy will drop).

You do the same for the percentage of women in each country (women almost always have a higher life expectancy in developed countries than men), latinos, suicides, accidents, etc. That is the only way that you can get a meaningful comparison.

And there is always one huge factor for which there is no data (and therefoer no adjustment can be made) but none-the-less is very real. Any honest physician in the world will tell you that the U.S. medical system is much more aggressive in bringing at risk pregnancies to term than just about any other place on Earth. As a result the reported infant mortality rate in the U.S. is higher by comparison with those countries that do not as aggressively pursue at risk pregnancies.

What I just told you are verifiable unbiased facts. Given your level of brain washing and lack of capacity for critical self thinking I do not expect you to accept the truth. You can simply wish reality away as you are want to do but it doesn't change the reality.

SOSO  posted on  2016-01-19 13:29:33 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 33.

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