sell it off baby, sell it off:  |
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have you read his book? i've not. so those solutions do seem off despite what i thought was a good analysis as to how we got to where we are.
No I've not, so I'll admit I'm not in a position to make strong claims regarding it. And yes overall I think it is a decent (although one-sided) view on how we got here today. What I disagree with though are the leaps he takes in his conclusions (which I've read a bit) and the conclusions every MSM outlet is promoting based off of the book. Increasing taxes in the manner he describes simply does nothing to address the super wealthy, which is the issue and source of concentrated wealth/power today, and instead further burdens the middle/upper middle classes (professionals/small businesses). His conclusions serve to prevent people in the middle class from entering the 1%, and in effect stratify and protect the 0.1%. Don't get me wrong, I think we've descended back into an oligarchy controlled by an entrenched and power upper class. It's just that Picketty's recommendations I see as not just ineffectual towards addressing this problem, but in fact further supporting it. as usual when you listen to analyses like his, if you put the situation into the perspective of Fed bailouts, it all becomes clear. losses are prevented for those who already hold assets via inflation of the money supply. the elite need to continue to live off the rents obtained from old wealth. |
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pretty ugly:   |
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the cash buyer is retreating:  |
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Piketty's work essentially says: 1) Wealth inequality is bad 2) Capitalism over time concentrates wealth which grows inequality He then takes a leap and assumes that the only mechanism to fix inequality is to vastly increase state power and increase income taxes. The problem is his recommendations will only further inequality. The majority of his tax proposals will not fall on the truly wealth rentier class, but on the middle and upper middle classes who are trying to build a safety net to live off of. And increasing state power only further entrenches protected special interests. This is a decent review IMHO. http://www.zerohedge.com/news/2014-04-28/critique-pikettys-solution-widening-wealth-inequalityAlso, never mind the fact that America was founded on the principals of equality of opportunity, an end of the feudal system with hereditary rite, where people not born to the right parents could never own land/businesses/etc. Equality does not mean equality of financial positions or equality of results, which is what the meaning has been twisted into today, which is simply Orwellian Newspeak. have you read his book? i've not. so those solutions do seem off despite what i thought was a good analysis as to how we got to where we are. |
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oil breaks support:  |
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Any theory why so many commodities are heading down at the moment? Especially when QE is still going strong.
Manipulation perhaps?
QE's all gone to the wrong places, ie, the deflationary black hole of UST's and Fed Excess Reserves. not to mention the stock mkt. |
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copper futures:  oil futures about to break support:  CAT heading down:  |
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10yr UST futures Note turning up tonite. Moar black hole sh*t:
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USTs will be the last man standing. at the expense of the USD? Yup. Just like Japan is doing with the Yen. Buy all the bonds! M2 be damned! sounds about right to me. Moar Blackhole sh*t! |
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James Rickards, a financier and author, says he sees potential in technologies that process faster, cheaper and more transparent exchanges that go beyond trading money. Companies using these new technologies, he says, "allow consumers to buy products or to send payments in seconds at a fraction of the cost" of regular currency.that's actually very good for him
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the tinder is still to be lit:  |
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10yr UST futures Note turning up tonite. Moar black hole sh*t:
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USTs will be the last man standing. at the expense of the USD? |
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starting to get a rally on Finex
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they're still hitting the asks:  |
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