Distributions of wealth in this country

[phattonez]

I would say that the liberal / progressive indoctrination centers are the ones that don't have a sense of duty, the duty of preparing their students for the realities of the job markets they will need to compete and survive in being subjugated to liberal / progressive political ideology and a steaming heaping dose of SJWism, none of which will prepare them to survive and thrive in their adult life, and is, in fact, a detriment to their survival and thriving.

Fully agree, but that doesn't give anyone else a right to exploit them further.

Sent from my phone. Instaurare omnia in Christo.

 

[Bullseye]

My buffoonery " fractional reserve banking" needs a little more of you attention . You have a long way to go to be able to talk to anyone who has a clue about economics.

Once again - your blather is disproved by my verified links - spewing a phrase you don't understand over and over doesn't change reality.


By the way:

Fractional reserve banking is a banking system in which only a fraction of bank deposits are backed by actual cash on hand and are available for withdrawal. This is done to expand the economy by freeing up capital that can be loaned out to other parties. Many U.S. banks were forced to shut down during the Great Depression because too many people attempted to withdraw assets at the same time.

Please, please, please stop making a fool of yourself mouthing a term you only partially understand.

 

[Bullseye]

Your wrong when the deposits are loaned out the bank can still loan out 33 times more then that.

What?

 

[phattonez]

The simple fact has to be noted that the market isn't controlling wages and hasn't for the last 70 years. Corporate head are the ones controlling wages and stupid people who think that their shouldn't be any minimum wages that the market will take care of that , bull****. even Adam Smith in about 179? said there is time that the market doesn't control wages that the business does and of course he also pointed out the obvious , that it isn't a good thing.

Then let's break up the big corporations, especially the banks.

Sent from my phone. Instaurare omnia in Christo.

 

[phattonez]

Yes, the do. And if you buy CD's from them they loan that money out to.

Absolutely not. Banks NEVER lend out their deposits. That's how fractional reserve banking works.

How do you come up with this ridiculous jabberwocky?

Real wealth is productive capacity. It's labor. Rent extraction isn't real wealth production. It's a wealth transfer.

Sent from my phone. Instaurare omnia in Christo.

 

[phattonez]

Capitalists aren't the problem, it's the only system that works. The problem are the people who think they earn it all , deserve it all and shouldn't be taxed and that what capitalism is. no it isn't.

The Scandinavian countries don't work? China has massive intervention into their markets. That doesn't work?

Sent from my phone. Instaurare omnia in Christo.

 

[phattonez]

I would support simplification of our tax system, basically taxing all income regardless of how it was acquired at the same rate. I would also limit refunds to no more than the total tax provided government.

If we're going to have a minimum wage, it should be the base beyond which a tax liability begins.

That's an improvement over our current system.

Sent from my phone. Instaurare omnia in Christo.

 

[Bullseye]

Absolutely not. Banks NEVER lend out their deposits. That's how fractional reserve banking works.

Nope. Fractional reserve banking allows banks to retain ONLY a part of their deposits so they can lend out the rest. I including links explaining all this elsewhere on this thread

Real wealth is productive capacity. It's labor. Rent extraction isn't real wealth production. It's a wealth transfer.

Sent from my phone. Instaurare omnia in Christo.

Sorry, no. A revenue producing asset is wealth.

 

[phattonez]

Nope. Fractional reserve banking allows banks to retain ONLY a part of their deposits so they can lend out the rest. I including links explaining all this elsewhere on this thread

Absolutely not. If they did this they would limit how much they could lend. I dare you to read about this. You're completely wrong.

https://www.investopedia.com/articles/investing/022416/why-banks-dont-need-your-money-make-loans.asp

Sorry, no. A revenue producing asset is wealth.

It's wealth to the asset holder, but it's a claim on the production of society.

Do you really not see the difference between manufacturing and holding land?

Sent from my phone. Instaurare omnia in Christo.

 

[Bullseye]

Absolutely not. If they did this they would limit how much they could lend. I dare you to read about this. You're completely wrong.

https://www.investopedia.com/articles/investing/022416/why-banks-dont-need-your-money-make-loans.asp

I read that and several other pieces and what I've said is absolutely factual. Banks DO make loans from depositors money.

NOW, you READ THIS

As mentioned before, banks basically make money by lending money at rates higher than the cost of the money they lend. More specifically, banks collect interest on loans and interest payments from the debt securities they own, and pay interest on deposits, CDs, and short-term borrowings. The difference is known as the "spread," or the net interest income, and when that net interest income is divided by the bank's earning assets, it is known as the net interest margin. ]

It's wealth to the asset holder, but it's a claim on the production of society.

Nonsense

Do you really not see the difference between manufacturing and holding land?

.

"Holding land"? How about providing lodging?

 

[Bullseye]

Hypocrite, when that's all you offer.

LOL, sure, whatever you say. :roll:

PS: How'd you do in the Asshat of the year election?

 

[eohrnberger]

Fully agree, but that doesn't give anyone else a right to exploit them further.

Sent from my phone. Instaurare omnia in Christo.

Not sure that I would characterize working for an employer as exploitation. Employment is an agreed upon exchange of value (work, knowledge, skills) for compensation from the employee (wages, benefits) from the employer. The vast majority of states are 'at will' states, where either party in the employment relationship can terminate that relationship at will without prior notice.

This is a fair and level playing fields as the employee can quit anytime they want without prior notice, and the employer can terminate the employee anytime they want without prior notice.

Should either party in the relationship feel they are being exploited, they are free to terminate the relationship.

Where's the exploitation? How can it be exploitation if either party can terminate the relationship?

 

[Mach]

The simple fact has to be noted that the market isn't controlling wages and hasn't for the last 70 years. Corporate head are the ones controlling wages and stupid people who think that their shouldn't be any minimum wages that the market will take care of that , bull****. even Adam Smith in about 179? said there is time that the market doesn't control wages that the business does and of course he also pointed out the obvious , that it isn't a good thing.

Again, we the people control government.
Government controls the tax rates.
Tax rates are the primary way our nation ensures capitalism doesn't control everything.

When wages drop, that's because as you wrote, corporations control it. We give corporations enormous power to conduct business safely in the U.S. which is good, we just need to balance it out on the back-end.
Government offsets that with its own market actions (that are significant), and it's most widely used tool for this, progressive taxation.
Progressive taxation simply needs a boost to offset the enormous gains over the past decades in shifting wealth to the wealthiest, and instead shift a little more to the middle class.

Notice other countries do it differently. Some use government more directly to control markets. We don't like this method.
Other European countries use unions, prohibit corporations from using cheap overseas labor, have much higher but much flatter tax rates.
Etc.
If we're going to use the "empower corporations" on the front-end model, that's fine. I like that tool.
We just need to tax that properly on teh back-end, and regulate them sufficient to ensure everyone contributing to this nations economy, sees more similar growth rate gains in the long-term.

 

[jbander]

Again, we the people control government.
Government controls the tax rates.
Tax rates are the primary way our nation ensures capitalism doesn't control everything.

When wages drop, that's because as you wrote, corporations control it. We give corporations enormous power to conduct business safely in the U.S. which is good, we just need to balance it out on the back-end.
Government offsets that with its own market actions (that are significant), and it's most widely used tool for this, progressive taxation.
Progressive taxation simply needs a boost to offset the enormous gains over the past decades in shifting wealth to the wealthiest, and instead shift a little more to the middle class.

Notice other countries do it differently. Some use government more directly to control markets. We don't like this method.
Other European countries use unions, prohibit corporations from using cheap overseas labor, have much higher but much flatter tax rates.
Etc.
If we're going to use the "empower corporations" on the front-end model, that's fine. I like that tool.
We just need to tax that properly on teh back-end, and regulate them sufficient to ensure everyone contributing to this nations economy, sees more similar growth rate gains in the long-term.

yup , agreed

 

[jbander]

LOL, sure, whatever you say. :roll:

PS: How'd you do in the Asshat of the year election?

I won

 

[phattonez]

I read that and several other pieces and what I've said is absolutely factual. Banks DO make loans from depositors money.

NOW, you READ THIS

Nothing there says that deposits are loaned out.

Nonsense

"Holding land"? How about providing lodging?

If you're not producing new wealth then that's exactly what it is. You collect new wealth despite providing none of your own. It's a wealth transfer.

Sent from my phone. Instaurare omnia in Christo.

 

[jbander]

Nope. Fractional reserve banking allows banks to retain ONLY a part of their deposits so they can lend out the rest. I including links explaining all this elsewhere on this thread


Sorry, no. A revenue producing asset is wealth.

Not only don't you know what your talking about , you can't read either, The fractional reserve banking is the amount that the bank has to have in deposit compared to the amount that they can lend .They need only about 3% of the lending amount. This is a person that runs around here telling everyone that they don't know anything about economics, You just can't make this up.

 

[jbander]

Then let's break up the big corporations, especially the banks.

Sent from my phone. Instaurare omnia in Christo.

No , how is that a solution.

 

[jbander]

What?

You really don't know do you?

 

[jbander]

I don't think your post has anything to do with what I said. But OK.

It's obvious that government can screw around with markets. What's less obvious is whether that's a wise approach. Countries that have tried have failed in the long run.

All countries use the tools available to control their economy. That is the reason we went off the gold standard as a example, then add the ability to print or not print money, which lowers or increases the value of the dollar, while lowering or increasing the lending rate , while lowering increase in exposes compared to imports or vice versa by lowering or increasing the dollar value on world markets.

 

[jbander]

The Scandinavian countries don't work? China has massive intervention into their markets. That doesn't work?

Sent from my phone. Instaurare omnia in Christo.

yes it does. They can take over industries by being able to undercut world prices with gov support. Till the point that they hold the market, example China's solar industry.

 

[Bullseye]

Not only don't you know what your talking about , you can't read either, The fractional reserve banking is the amount that the bank has to have in deposit compared to the amount that they can lend .They need only about 3% of the lending amount. This is a person that runs around here telling everyone that they don't know anything about economics, You just can't make this up.

LOL, you're totally proving everything I've said, and have provided numerous references for: Banks use the money from deposits to lend to borrowers.

 

[jbander]

LOL, you're totally proving everything I've said, and have provided numerous references for: Banks use the money from deposits to lend to borrowers.

You can't read ,they have to keep the deposits to a 3% rate to their lending. Get a life.

 

[jbander]

I think Bullseye should give it up and find a thread he has a clue about , him trying to fake it is silly. Since you don't have a clue about this subject why get involved in a thread that has that as it's core.

 

[Bullseye]

You can't read ,they have to keep the deposits to a 3% rate to their lending. Get a life.

Not me having problems reading. Or having a life. I think I've already covered that they don't lend EVERY FRIGGIN' PENNY of their deposits, and included a link and quote to a piece that explains that. Probably more than ONCE.