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Icahn to Yahoo Finance: It's going to be a real 'bloodbath'

mbig

mbig

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Mainly warning about Junk Debt [bubble] and Income Inequality.
He argues congress can indeed legislate more income equality, and already has legislated/Caused income Inequality.
I agree on Both counts.
He also supports Trump and says we need someone to shake up Washington.

Icahn to Yahoo Finance: It's going to be a real 'bloodbath'
Yahoo Finance By Andy Serwer
2 hours ago
16 minute VIDEO
Icahn to Yahoo Finance: It's going to be a real 'bloodbath' - Yahoo Finance
Video plus refrence to the opper Icahn has written to Trump, Washington, etc. that can be found, along with video, at carlicahn.com

Yahoo Finance has obtained a policy paper written by Carl Icahn on income inequality that the billionaire financier recently sent to Donald Trump and others on Wall Street and in Washington. In the paper, Icahn warns of “dangerous systemic problems that will affect each and every American in the coming years.”
The five and a half page paper has some similarities to the video that Icahn is releasing on Carl Icahn, but focuses more on imbalances in our society. The paper was sent to Trump before the GOP presidential candidate revealed his economic proposals. “I sent it to a number of people,” Icahn said. “A few of the ideas in the paper are reflected in Donald Trump’s plan. I think that shows what an open-minded guy he is, which is what we need in the White House.”
Source: Carl Icahn

In the paper, Icahn takes a decidedly egalitarian tone, writing:

“The average worker makes approximately $50,000 per year. The average annual compensation of the 30 highest paid CEOs is approximately $47 million per year. (I don’t believe this disparity was ever this great even in most dictatorships!) You will hear many politicians argue that government should not interfere with the ‘business judgment’, of our companies and, therefore they cannot pass laws to encourage ‘income equality.’ This is completely Untrue – the sad fact is that the government has actually passed many laws that have brought about ‘income inequality.’”​

In a phone interview with Yahoo Finance Icahn says, "In this country, you talk about the wealth gap and politicians say, 'well, you can't legislate equality,' but we legislate inequality.”
[......]
Click to expand...
 
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mbig said:
Mainly warning about Junk Debt [bubble] and Income Inequality.
He argues congress can indeed legislate more income equality, and already has legislated/Caused income Inequality.
I agree on Both counts.
He also supports Trump and says we need someone to shake up Washington.

Icahn to Yahoo Finance: It's going to be a real 'bloodbath'
Yahoo Finance By Andy Serwer
2 hours ago
16 minute VIDEO
Icahn to Yahoo Finance: It's going to be a real 'bloodbath' - Yahoo Finance
Video plus refrence to the opper Icahn has written to Trump, Washington, etc. that can be found, along with video, at carlicahn.com
Click to expand...

The thing is, that income inequality is less or possibly a secondary variable. The clincher is unearned wealth. That is quite a different problem.
 
mbig said:
Mainly warning about Junk Debt [bubble] and Income Inequality.
He argues congress can indeed legislate more income equality, and already has legislated/Caused income Inequality.
I agree on Both counts.
He also supports Trump and says we need someone to shake up Washington.

Icahn to Yahoo Finance: It's going to be a real 'bloodbath'
Yahoo Finance By Andy Serwer
2 hours ago
16 minute VIDEO
Icahn to Yahoo Finance: It's going to be a real 'bloodbath' - Yahoo Finance
Video plus refrence to the opper Icahn has written to Trump, Washington, etc. that can be found, along with video, at carlicahn.com
Click to expand...

Icahn is an expert in his narrow area of maximizing wealth through trading junk bonds (and illegally at that.) He is a neophyte when it comes to politics and probably macroeconomics. Supporting Trump is evidence of how much he knows about politics.

Sure Congress can indeed legislate a cure for income equality -- they just need to tax rich-folk more, raise the minimum wage and encourage unionization. Congress has indeed caused income inequality. Tax-cuts for the wealthy and slashing the safety net come to mind.
 
MTAtech said:
Icahn is an expert in his narrow area of maximizing wealth through trading junk bonds (and illegally at that.) He is a neophyte when it comes to politics and probably macroeconomics. Supporting Trump is evidence of how much he knows about politics.

Sure Congress can indeed legislate a cure for income equality -- they just need to tax rich-folk more, raise the minimum wage and encourage unionization. Congress has indeed caused income inequality. Tax-cuts for the wealthy and slashing the safety net come to mind.
Click to expand...

Hahahahaaa !

But those things don't fix income inequality.
Well maybe in Bernie Sanders Looney land they do, but not in reality.
 
Fenton said:
Hahahahaaa !

But those things don't fix income inequality.
Well maybe in Bernie Sanders Looney land they do, but not in reality.
Click to expand...

Actually, that's what happened in the 1930s and 1940s. As union membership declined and the minimum wage didn't keep up with inflation, the gains reversed.

041312ps.jpg
 
Fenton said:
Hahahahaaa !

But those things don't fix income inequality.
Well maybe in Bernie Sanders Looney land they do, but not in reality.
Click to expand...
I guess you think tax-cuts to the 'job creators' and the already super-rich is the prescription to curing income inequality -- oh wait...
 
MTAtech said:
I guess you think tax-cuts to the 'job creators' and the already super-rich is the prescription to curing income inequality -- oh wait...
Click to expand...

I think Supply Side works and can even point to a example of its success.

Texas.

And yes, I realize you're next move is to attribute our success to Oil but of-course that's nonsense.
 
Fenton said:
I think Supply Side works and can even point to a example of its success.

Texas.

And yes, I realize you're next move is to attribute our success to Oil but of-course that's nonsense.
Click to expand...
Then you believe in myths.
 
MTAtech said:
Then you believe in myths.
Click to expand...

financial gurus and hedge fund guys have predicted 24 of the last 3 crashes. and they all get coverage at yahoo.
 
MTAtech said:
Then you believe in myths.
Click to expand...

What myths ? The myths that raising taxes fixes wealth disparity ?

The myth that draconian regulations to fix something that doesn't exist and tax increases grows economy ?
 
Fenton said:
I think Supply Side works and can even point to a example of its success.

Texas.
And yes, I realize you're next move is to attribute our success to Oil but of-course that's nonsense.
Click to expand...
Saying "Texas" is doing good is evidence/proof of Supply side success is spurious, and of course, merely Anecdotal.
I mean, at least put up a few states, a chart, or something to show that this Correlation has any Widespread or Universal Causation!
Otherwise it's like saying Seattle is the sunniest city, because you got two Bright days.

In fact, we Just had a Hard evidence case of Supply Side Failure, Not clouded by long term, or external trends/relative advantages.

Supply-Side Doom in Kansas
APR 17, 2015
By Barry Ritholtz
Supply-Side Doom in Kansas - Bloomberg View

"...Let's focus on Kansas, because of all the states its tax data reflects conscious Policy choices as opposed to larger economic forces, such as falling oil prices.

Under the leadership of Republican Governor Sam Brownback, the state radically cut income taxes on corporations and individuals. Going on the assumption that this would generate a burst of economic growth and higher tax revenue, no alternative sources of revenue were put into place. Similarly, the state failed to lower spending.

Alas, reality trumps theory. As we have seen almost Every time this thesis has been put into practice, it Fails. The tax cuts Don't magically kick the economy into higher gear and the government ends up short of money.
Remember former President George W. Bush and his tax cuts? Same deal.

Much of the intellectual heft for this theory can be traced to economist Arthur Laffer, a former member of President Ronald Reagan’s Economic Policy Advisory Board who is sometimes referred to as the father of supply-side economics."
[.....]​
 
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Fenton said:
What myths ? The myths that raising taxes fixes wealth disparity ?

The myth that draconian regulations to fix something that doesn't exist and tax increases grows economy ?
Click to expand...
The myth that tax-cuts pay for themselves and that the economy gets an enormous boast from tax-cuts.

I have no idea what example you are thinking of when you speak of "draconian regulations to fix something that doesn't exist."

We have water and air pollution regulations because industry polluted the air and water. I think those regulations were sensible.
We have a history of tainted foods, so we regulate food and drug safety.
We have a history of labor abuses, so we regulate labor standards.
We have a history of worker safety issues, so we regulate worker safety.

Please give an example of these "draconian regulations."
 
mbig said:
Saying "Texas" is doing good is evidence/proof of Supply side success is spurious, and of course, merely Anecdotal.
I mean, at least put up a few states, a chart, or something to show that this Correlation has any Widespread or Universal Causation!
Otherwise it's like saying Seattle is the sunniest city, because you got two Bright days.
...
Click to expand...
Exactly. That's were science and statistics comes in, not conservative's strongest subjects.
 
mbig said:
Saying "Texas" is doing good is evidence/proof of Supply side success is spurious, and of course, merely Anecdotal.
I mean, at least put up a few states, a chart, or something to show that this Correlation has any Widespread or Universal Causation!
Otherwise it's like saying Seattle is the sunniest city, because you got two Bright days.

In fact, we Just had a Hard evidence case of Supply Side Failure, Not clouded by long term, or external trends/relative advantages.

Supply-Side Doom in Kansas
APR 17, 2015
By Barry Ritholtz
Supply-Side Doom in Kansas - Bloomberg View

"...Let's focus on Kansas, because of all the states its tax data reflects conscious Policy choices as opposed to larger economic forces, such as falling oil prices.

Under the leadership of Republican Governor Sam Brownback, the state radically cut income taxes on corporations and individuals. Going on the assumption that this would generate a burst of economic growth and higher tax revenue, no alternative sources of revenue were put into place. Similarly, the state failed to lower spending.

Alas, reality trumps theory. As we have seen almost Every time this thesis has been put into practice, it Fails. The tax cuts Don't magically kick the economy into higher gear and the government ends up short of money.
Remember former President George W. Bush and his tax cuts? Same deal.

Much of the intellectual heft for this theory can be traced to economist Arthur Laffer, a former member of President Ronald Reagan’s Economic Policy Advisory Board who is sometimes referred to as the father of supply-side economics."
[.....]​
Click to expand...


LOL !!

" Let's focus on Kansas " ? Why ?

What's wrong with focusing on a State thats been using Conservative economic principles for decades ? Is Texas too successful ?
 
I have said it over and over...the number one cause of income inequality is the Federal Reserve.

QE's and ZIRP have helped the rich TREMENDOUSLY and done virtually nothing for the middle class and nothing at all for the poor.

The Fed is the number one reason for the stock market boom (which helps the rich massively) and the rest of the economy being rather stagnant with most new employment since the end of the GreatRecession going towards over 55's and/or part timers.

The Fed bailed out it's banker buddies, bought AIG (another virtual bailout), and alloys for a 'carry trade' of sorts with the banks so they can make money without giving out loans/mortgages.

You want wealth equality AND a strong economy? Kill/neuter the Fed, balance the budget (budget deficits largely end up with the rich via greater defence spending and government corruption) and lower taxes across the board BUT increase taxes on capital gains (where the mega rich make their money) so that those rates match income rates.

If you think bigger government means more income equality, then you are VERY naive...it means the opposite. It means government's take more money from the lower classes, give some back to them in welfare programs (to shut them up because they know most are too stupid/ignorant to know better) but redistribute the rest to the wealthy...indirectly of course.
Think people....the politicians are friends with big business. Surely you cannot be so staggeringly naive as to honestly believe they care more about the 'little guy' (most of whom they do not know and do not want to know/associate with) then their rich friends they have lunch and go to parties with?
They kiss the masses asses on Election Day and then find new ways to take money from them without their knowledge to line the pockets of their corporate buddies/campaign contributors.
 
Fenton said:
LOL !!
"Let's focus on Kansas "? Why ?

What's wrong with focusing on a State thats been using Conservative economic principles for decades ? Is Texas too successful ?
Click to expand...
1. Because Texas, for app 40 Years (since Arab 70's boycott), and with only a few selloffs since, and up until, the last 9 months, has Enjoyed an OIL BOOM.

2. If You had HONESTLY quoted my article's Full sentence, it TELLS You "Why."

...Let's focus on Kansas, [It Continues after Fenton's Bogus Short-quote] BECAUSE of all the states its tax data reflects conscious Policy choices as Opposed to Larger Economic Forces, such as falling oil prices.​

Wow, how disingenuosly partisan can you go.
 
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Fenton said:
What myths ? The myths that raising taxes fixes wealth disparity ?
Click to expand...
Wait, who told you that was the argument? Did Rush Limbaugh tell you that?
 
mbig said:
Mainly warning about Junk Debt [bubble] and Income Inequality.
He argues congress can indeed legislate more income equality, and already has legislated/Caused income Inequality.
I agree on Both counts.
He also supports Trump and says we need someone to shake up Washington.

Icahn to Yahoo Finance: It's going to be a real 'bloodbath'
Yahoo Finance By Andy Serwer
2 hours ago
16 minute VIDEO
Icahn to Yahoo Finance: It's going to be a real 'bloodbath' - Yahoo Finance
Video plus refrence to the opper Icahn has written to Trump, Washington, etc. that can be found, along with video, at carlicahn.com
Click to expand...

As an MMT'er I have to admit Trump's economic policies are far better than the clown car that is the GDP, hope he wins the nomination.
 
DA60 said:
I have said it over and over...the number one cause of income inequality is the Federal Reserve.

QE's and ZIRP have helped the rich TREMENDOUSLY and done virtually nothing for the middle class and nothing at all for the poor.

The Fed is the number one reason for the stock market boom (which helps the rich massively) and the rest of the economy being rather stagnant with most new employment since the end of the GreatRecession going towards over 55's and/or part timers.

The Fed bailed out it's banker buddies, bought AIG (another virtual bailout), and alloys for a 'carry trade' of sorts with the banks so they can make money without giving out loans/mortgages.

You want wealth equality AND a strong economy? Kill/neuter the Fed, balance the budget (budget deficits largely end up with the rich via greater defence spending and government corruption) and lower taxes across the board BUT increase taxes on capital gains (where the mega rich make their money) so that those rates match income rates.

If you think bigger government means more income equality, then you are VERY naive...it means the opposite. It means government's take more money from the lower classes, give some back to them in welfare programs (to shut them up because they know most are too stupid/ignorant to know better) but redistribute the rest to the wealthy...indirectly of course.
Think people....the politicians are friends with big business. Surely you cannot be so staggeringly naive as to honestly believe they care more about the 'little guy' (most of whom they do not know and do not want to know/associate with) then their rich friends they have lunch and go to parties with?
They kiss the masses asses on Election Day and then find new ways to take money from them without their knowledge to line the pockets of their corporate buddies/campaign contributors.
Click to expand...

The issue with blaming only QE is rather disingenuous. The golden era of economics had very low interest rates and saw great growth. But what is missing between the golden age and today is government investment in infrastructure and things like the GI bill.
 
JP Hochbaum said:
The issue with blaming only QE is rather disingenuous. The golden era of economics had very low interest rates and saw great growth. But what is missing between the golden age and today is government investment in infrastructure and things like the GI bill.
Click to expand...
QE saved the economy.
And it generally works, as does Keynsian economics.
Period.. um Kinda.

But we have a new set of problems never envisioned by that principle.
'The West' in general, especially Europe/USA, and especially Japan, has a shrinking 'native' population and dwindling/aging 'native' work force/retirement problem.
In the EU's case, and ours for that matter, we are replacing 'natives', mostly with low-to-no .edu workers.
Additionally, we have the high productivity v population problem. Less people needed.

All these Migrants the EU is importing are not educated enough to support the the Social Spending that Euro-social-network pyrmaids need.
In fact, they are new draws on that social system.
There's not a good ending for this.
Same to some degreee with our own illegals/amnestied-illegals here.

The first few QE's saved the economy, but doesn't solve the smaller-native, and less educated migrant, work force.
So every sucessive QE IMO/ergo has had less bang for the buck, and we've had it in my, and probably the Fed's opinion.
Let's hope the economy can overcome these fundamental problems, and do so without heavy Fed support.

Also let me amend my opinion on 'Junk bonds' somewhat.
They've been falling for a Year or more relative to Treasuries and are now reasonably priced IMO. Most yielding 400 or even 600+ basis points more than treasuries. Tho in an economic downturn, they would be further vulnerable.
 
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mbig said:
Saying "Texas" is doing good is evidence/proof of Supply side success is spurious, and of course, merely Anecdotal.
I mean, at least put up a few states, a chart, or something to show that this Correlation has any Widespread or Universal Causation!
Otherwise it's like saying Seattle is the sunniest city, because you got two Bright days.

In fact, we Just had a Hard evidence case of Supply Side Failure, Not clouded by long term, or external trends/relative advantages.

Supply-Side Doom in Kansas
APR 17, 2015
By Barry Ritholtz
Supply-Side Doom in Kansas - Bloomberg View

"...Let's focus on Kansas, because of all the states its tax data reflects conscious Policy choices as opposed to larger economic forces, such as falling oil prices.

Under the leadership of Republican Governor Sam Brownback, the state radically cut income taxes on corporations and individuals. Going on the assumption that this would generate a burst of economic growth and higher tax revenue, no alternative sources of revenue were put into place. Similarly, the state failed to lower spending.

Alas, reality trumps theory. As we have seen almost Every time this thesis has been put into practice, it Fails. The tax cuts Don't magically kick the economy into higher gear and the government ends up short of money.
Remember former President George W. Bush and his tax cuts? Same deal.

Much of the intellectual heft for this theory can be traced to economist Arthur Laffer, a former member of President Ronald Reagan’s Economic Policy Advisory Board who is sometimes referred to as the father of supply-side economics."
[.....]​
Click to expand...

Lol !!

Kansas ?? Thats literally ALL you people have. Talk about spurious. Why would anyone want to go to Kansas when they can come to Texas who has successfully used Supply side principles to grow it's economy for years.

Tax Incentives Help Texas Lead U.S. Economy

There's also another example of Supply Side's effectiveness...

REAGANFOUNDATION.ORG | REAGANOMICS

So Supply side doesn't work ? According to who ? You'll understand if I completely think your full of ****. I mean people who believe that are currently running States like California and Cities like Detroit into the ground.

Census Bureau: California still has highest U.S. poverty rate | The Sacramento Bee

California Has Highest Child Poverty Rate In Nation | KPBS

http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=0
 
Fenton said:
Lol !!Kansas ?? Thats literally ALL you people have. Talk about spurious. Why would anyone want to go to Kansas when they can come to Texas who has successfully used Supply side principles to grow it's economy for years.
Tax Incentives Help Texas Lead U.S. Economy
There's also another example of Supply Side's effectiveness...REAGANFOUNDATION.ORG | REAGANOMICS So Supply side doesn't work ? According to who ? You'll understand if I completely think your full of ****. I mean people who believe that are currently running States like California and Cities like Detroit into the ground.
Census Bureau: California still has highest U.S. poverty rate | The Sacramento Bee California Has Highest Child Poverty Rate In Nation | KPBS
Click to expand...
Perhaps your memory [too] Fails you.
You lost this one just a Few Days ago in another string using one of the same links!

http://www.debatepolitics.com/gover...ers-federal-tax-dollars-2.html#post1065091928

Fenton said:
Census Bureau: California still has highest U.S. poverty rate | The Sacramento Bee
Click to expand...
mbig said:
Yep... another FALLACIOUS FENTON try.
Gee, I wonder if child (and other high) poverty MIGHT have to do with Illegal Immigrants/babies?

YOUR Link continues:
".....But under the alternative method, California rises to the top at 23.4% while New Mexico drops to 16% and other states decline to as low as 8.7% in Iowa.
The only other state to approach California in the alternate rankings is Nevada at 20%..​

Cause hey, #2 in Child Poverty, Nevada has NO INCOME TAX, and #3 New Mexico's Income tax is virtually Nothing.
Click to expand...
 
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mbig said:
Perhaps your memory [too] Fails you.
You lost this one just a Few Days ago in another string using one of the same links!

http://www.debatepolitics.com/gover...ers-federal-tax-dollars-2.html#post1065091928
Click to expand...

How could I not remember that ridiculous hack thread ?

It's been posted a hundred times on this very forum and debunked everytime

You people need to focus on the basket cases of States and Cities your poisonous ideology has created and stop worrying about Texas.

Texas is doing fine. We're one of the very few success stories in this horrible Obama economy

We'll continue to implement Conservative economic principles ( Supply Side ) and offer jobs and opportunities to the thousands of economic refugees that have come from Blue plague states like California.

Fix your own screw ups before criticizing Texas.
 
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