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ErikJ

(6,335 posts)

16. Hoarded Wealth is concentrating at the top also

Reply to Nuclear Unicorn (Reply #15)

Sat Nov 23, 2013, 07:36 PM

Nov 2013

being stashed offshore banks. The other wealth is going to the stocks. If the money supply starts shrinking the economy will go into a deflationary spiral which is worse than an inflationary spiral.
The Dow inflation right now is a symptom of too much wealth at the top. When the top tax rate goes below 50% like it has been for 25 years you will get the rich getting richer and gambling on the stock market and real estate leading to booms and busts.

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Plouffe Tweet: Dow Jones 16000+ Nov 18 2013. That terrible socialist, @Barack Obama [View all] ErikJ Nov 2013 OP

So a lot of people are making a lot of money trading pieces of paper Nuclear Unicorn Nov 2013 #1

To make up for the trillions offshored by the rich. ErikJ Nov 2013 #7

"the Feds QE is a way to compensate for the loss of money the rich and corporations are hoarding" Nuclear Unicorn Nov 2013 #12

Money out requires money in to keep economy going. ErikJ Nov 2013 #13

It's fake money. There's no underlying economic activity to the money the Fed is manufacturing Nuclear Unicorn Nov 2013 #15

Hoarded Wealth is concentrating at the top also ErikJ Nov 2013 #16

I like to mention the Dow when my RW co-workers talk about how terrible the president is bhikkhu Nov 2013 #2

It IS irrelevant, to a majority of American workers. I don't know anyone who cares about the sabrina 1 Nov 2013 #3

You clearly dont understand the war going on. ErikJ Nov 2013 #5

Oh please, who cares what they say? The way to respond to that is to AGREE with them. sabrina 1 Nov 2013 #8

I wish Obama was a lot more socialist-but they go beyond just socialist ErikJ Nov 2013 #11

Let me ask you again. Why does anyone care what the most extreme, lunatic fringe in the sabrina 1 Nov 2013 #14

Because with the huge RW media echo-chamber, ignorance and hate are spreading ErikJ Nov 2013 #17

I spent several years on Right Wing sites trying to get through to them. And then I realized sabrina 1 Nov 2013 #18

Plouffe was just trying to point out the irony of their ignorance ErikJ Nov 2013 #19

It is very relevant to jobs, which is a pretty important area bhikkhu Nov 2013 #20

Or how gas is now below $3/gal in lots of the US ErikJ Nov 2013 #4

Stock tip for the day "Graphene" Politicalboi Nov 2013 #6

Great news! So the big banks don't need to be subsidized any longer! R. Daneel Olivaw Nov 2013 #9

Of far more interest to me is Tea Baggers' reaction Nevernose Nov 2013 #10