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Thread: Pew: 93% Of Households Lost Net Worth 2009-11

  1. #11
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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by humbolt View Post
    Yeah, that's not reality either. You don't know how McCain or Romney would have done.
    You don't "know" how anybody would do. We don't "know" how Al Gore would have done. Or Mondale or Thomas E. Dewey for that matter.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by rocket88 View Post
    You don't "know" how anybody would do. We don't "know" how Al Gore would have done. Or Mondale or Thomas E. Dewey for that matter.
    I agree. That was my point. Therefore there is no rational basis for claiming that this or that unsuccessful presidential candidate could not have done any better.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    I would suspect that the majority of the net worth decline is directly tied to depressed real estate values.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by Samhain View Post
    I would suspect that the majority of the net worth decline is directly tied to depressed real estate values.
    I think you're probably right.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by Taylor View Post
    Lovely source you have there. They apparently don't even know who was president in 1993.
    You're reading the chart wrong, it does correctly indicate Reagan-Bush until 1994. The tick mark is for 1995

    In addition, pretty much every GINI chart will show the exact same data.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    The only mistake of the stimulus was caving to perceived Republican demands for tax cuts, and shorting the actual stimulus part.

    I already stated, quite explicitly, that IMO Obama didn't handle the foreclosure situation well, and regulation was insufficient. It should be noted that Republicans repeatedly watered down and tried to kill Dodd-Frank. There is no question that McCain or Romney wouldn't have even tried.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by humbolt View Post
    Yeah, that's not reality either. You don't know how McCain or Romney would have done.
    I think we can make some educated guesses, at least if their campaign rhetoric is to be believed.

  8. #18
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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    If you believe campaign rhetoric then I can get you a terrific bridge that you can collect tolls on. I think it's in Brooklyn but you could send your staff there to manage it unless you're using the Lear Jet this week.


    Quote Originally Posted by Visbek View Post
    I think we can make some educated guesses, at least if their campaign rhetoric is to be believed.

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by Visbek View Post
    The only mistake of the stimulus was caving to perceived Republican demands for tax cuts, and shorting the actual stimulus part.

    I already stated, quite explicitly, that IMO Obama didn't handle the foreclosure situation well, and regulation was insufficient. It should be noted that Republicans repeatedly watered down and tried to kill Dodd-Frank. There is no question that McCain or Romney wouldn't have even tried.
    There is also the size issue. Gross stimulus was less than 5% of GDP, which wouldn't be much of an issue if it was disbursed in less than a year. Yet the majority of expenditure took place within a three year window peaking in 2010 (rate of change maximized in July 2010 if i memory serves me). Bipartisan support in regards to fiscal stimulus was over rated.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Pew: 93% Of Households Lost Net Worth 2009-11

    Quote Originally Posted by specklebang View Post
    If you believe campaign rhetoric then I can get you a terrific bridge that you can collect tolls on. I think it's in Brooklyn but you could send your staff there to manage it unless you're using the Lear Jet this week.
    Stimulus proposed by republican politicians has always been tax-cut heavy. Which can be extremely helpful during economic downturns that coexist with high inflation (tax cuts support disinflation). But for a 1930's esque economic downturn mired in asset deflation (net wealth declined by more than 100% of GDP), tax centered stimulus is a waste of time. Tax revenue as a percentage of output sits near post WWII lows, and still the recovery is meager at best.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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