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In reply to the discussion: It was all about Wall Street all along. Apparently, this whole theater of the absurd [View all]jtuck004
(15,882 posts)11. These would be the retirement funds with brochures full of returns at 4, 6, 7% that are only
giving 2% now? Wonder how people feel about a meager social security check and $400 from their pension, paid from what they earned for 28 years? Or the 1/3 of the millions of people on SS at 65, worse off yet with no other income. Don't see how or why their outlook intersects with Mi$$ RobMe and others with a $245,000 a week income, or that even in a month or a year.
Those people with stock holdings are a whole 'nother economy, and the rest don't live on their tailings. The rest live on what the people who in fact have most of the wealth today didn't manage to steal. Yet. I say that because the majority of the people with the assets didn't earn them, they took them from those who earned them.
I am guessing the market is not nearly as important as one might think to 47 million on food stamps, the 50,000 families yanked out of their homes this month, the over 10 million families we euphemistically call "working poor". Their fate might seem dependent on people with stock holdings and their earnings, but it's not. That's a set of policy choices made by others, mostly corporations who direct the government to do their bidding, to create laws that funnel money to them.
Or maybe we have different meanings of "our"
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It was all about Wall Street all along. Apparently, this whole theater of the absurd [View all]
Cleita
Jan 2013
OP
Well, no, but that is a thing to consider when negotiating about a fiscal cliff.
Honeycombe8
Jan 2013
#10
These would be the retirement funds with brochures full of returns at 4, 6, 7% that are only
jtuck004
Jan 2013
#11
+ Every single person who lost their home, had their job outsourced, etc n/t
truedelphi
Jan 2013
#15
Maybe, but at least I'm not an unimportant little bully that blames victims and
jtuck004
Jan 2013
#24
Well, 50,000 people a month being foreclosed on, 26 million wanting jobs, all those are
jtuck004
Jan 2013
#47
And: Table 1: Distribution of net worth and financial wealth in the United States, 1983-2010
jtuck004
Jan 2013
#25
the stock market has fuck all to do with whether we're in recession or not. & 2/3 of retirees
HiPointDem
Jan 2013
#30