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Patiod

(11,816 posts)

24. The while financialization of the US economy is just about moving money around

Wed Jul 18, 2012, 09:01 AM

Jul 2012

Time to re-read Krugman

http://www.nytimes.com/2009/07/17/opinion/17krugman.html

The business of moving money around, of slicing, dicing and repackaging financial claims, has soared in importance compared with the actual production of useful stuff.

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Bain Capital did NOT create wealth. It moved it. (x-post) [View all] bleever Jul 2012 OP

Bain also raised taxes... Historic NY Jul 2012 #1

VERY well said. They sucked the lifeblood out of American towns. bleever Jul 2012 #18

So if the Mom and Pop store that employs you can no longer afford to keep you dkf Jul 2012 #2

The problem arises when companies like Bain pit our workers against 50c-per-hour labor overseas. reformist2 Jul 2012 #3

Excellent distinction, and add the fact that they had taxpayers assume the risk bleever Jul 2012 #5

Maybe that's why Bain has to move because they can't compete either dkf Jul 2012 #9

Bain is one of the companies that created the race to the bottom that is hurting our entire country. JDPriestly Jul 2012 #16

Funny thing is its now cheaper to manufacture in Mexico but they are still going to China. dkf Jul 2012 #19

That is insane. And I think you know it. reformist2 Jul 2012 #21

How would you solve the problem of unemployment and the poverty that is spreading across the US? JDPriestly Jul 2012 #31

So where do you draw the line? treestar Jul 2012 #13

A false equivalency, and exactly what I'd expect from you. Scuba Jul 2012 #20

The Mom and Pop store doesn't go out and leverage their business to the hilt and then ... Ganja Ninja Jul 2012 #23

bain capital follows in the well-trodden footsteps of mike milken. same kind of 'wealth creation'. HiPointDem Jul 2012 #4

I have heard (Ian Masters I think on KPFK in Los Angeles) that Milken helped fund Romney when he JDPriestly Jul 2012 #32

I prefer the term....."Extracted" yourout Jul 2012 #6

+1 freshwest Jul 2012 #12

And he won't make change for a $20. lonestarnot Jul 2012 #7

I'm missing the reference. bleever Jul 2012 #8

Have change for a $20? lonestarnot Jul 2012 #11

Makes me think of a favorite scene from an ooold Popeye cartoon, where Wimpy bleever Jul 2012 #14

LOL. Sound about like the Wimpy dude. lonestarnot Jul 2012 #29

GOOD one, bleever! Should be said, read, and SPREAD. calimary Jul 2012 #10

I'd send it to Axelrod, but I think he's pretty darn on top of this. bleever Jul 2012 #15

Never mind. Send it to Axelrod anyway. calimary Jul 2012 #30

They used to call them "robber barons." SunSeeker Jul 2012 #17

Bain stole it is the proper term. Ganja Ninja Jul 2012 #22

The while financialization of the US economy is just about moving money around Patiod Jul 2012 #24

. bleever Jul 2012 #25

That is excellent...and the truth riverbendviewgal Jul 2012 #26

If I understand some of the actions of Bain correctly, they legally stole wealth from other people. upaloopa Jul 2012 #27

That's the new American business model. Turbineguy Jul 2012 #28

Wealth through IPO's flyguyjake Jul 2012 #33

Romney’s Success at Bain Capital: The Business as Scam Model polly7 Sep 2012 #34

That's a nice concise summary of Bain's modus operandi. bleever Sep 2012 #35