I drink your milkshake! a metaphor for capitalism

Brown echo

If u are not alive than for sure truth is not real
Until we get government spending under control and have a fair tax system. We will bleed jobs.
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rickyb

Well-Known Member
http://www.theatlantic.com/magazine...476415/?utm_source=nl__linkcoverstory1_041916

"The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?"

"Median net worth has declined steeply in the past generation—down 85.3 percent from 1983 to 2013 for the bottom income quintile, down 63.5 percent for the second-lowest quintile, and down 25.8 percent for the third, or middle, quintile. According to research funded by the Russell Sage Foundation, the inflation-adjusted net worth of the typical household, one at the median point of wealth distribution, was $87,992 in 2003. By 2013, it had declined to $54,500, a 38 percent drop. And though the bursting of the housing bubble in 2008 certainly contributed to the drop, the decline for the lower quintiles began long before the recession—as early as the mid-1980s, Wolff says."

"“Families have been using their savings to finance their consumption,” Wolff notes. In his assessment, the typical American family is in “desperate straits.”

capitalism is making it easy to hate on it. no wonder more democrats prefer socialism over capitalism, even if they dont know what socialism is.
 

newfie

Well-Known Member
http://www.theatlantic.com/magazine...476415/?utm_source=nl__linkcoverstory1_041916

"The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars! Who knew?"

is.

is that because they spend what they make or because they have no money?

my parents were as dirt poor as anyone but always saved something every week for that rainy day.

how many of those respondents to this question own the latest and greatest cell phone?
 

rickyb

Well-Known Member
is that because they spend what they make or because they have no money?

my parents were as dirt poor as anyone but always saved something every week for that rainy day.

how many of those respondents to this question own the latest and greatest cell phone?
the economy your parents worked in is alot different than the one now. i think its a wages issue
 

newfie

Well-Known Member
the economy your parents worked in is alot different than the one now. i think its a wages issue

ah yea, you dodged that answer big time. I know people that are working for crap and don't have a penny in their pocket but they have the latest IPhone. My parents did without to make sure they were able to stick something in the bank account.

Its not capitalism that needs to be hated here but irresponsibility.
 

rickyb

Well-Known Member
ah yea, you dodged that answer big time. I know people that are working for crap and don't have a penny in their pocket but they have the latest IPhone. My parents did without to make sure they were able to stick something in the bank account.

Its not capitalism that needs to be hated here but irresponsibility.
never heard that theory before. and of course i have my doubts about it

with the ending of rising wages for americans in the 1970s, they replaced it by working more hours, sending more people to work, and going into debt. of course you had a debt bubble pop in 2008. now i dont actually know if it could have worked with them just adjusting to stagnating / declining wages, or what.
 
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