No word if this speech was written by the southern gentleman, Jakegint.
[youtube:http://www.youtube.com/watch?v=ZFZrNSa3b8g 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
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Guy in the beginning of video at 6 second mark is my favorite. Seen the other day holding an awesome sign. See link:
http://www.businessinsider.com/probably-the-best-protest-sign-at-ocupy-wall-street-2011-9
what they don’t realize is that the wild wealth that exists in our society, and which allows them to spend large amounts of time doing things like this, wouldn’t have come to be if we’d been on a gold standard the entire time. LOLZ
historically wages have gone up faster than prices, see the 50s, 60s, 80s, and 90s. occasionally (and this is consistent throughought the 200 years of american history) commodities surge for a time, usually about a decade, sometimes a bit more, and during these times people get mad and stocks go down. We’ve done this all before.
And how is inflation a hidden tax on the middle class? Historically, aren’t they the ones that benefit from it most greatly? Because over time it erodes the burden of their home, while causing it to slowly gain a couple of bucks of value?
then can you explain the higher employment and middle class standard of living when the dow was at 1000? maybe its just the billionares that have benefited. and the creation of them. although im a true believer in free money too play the game. not a gold standard bearshitter either. just kinda confused how the free money has helped the poor who are the middle class now.
by the way. the 70’s were a boom compared too now.
I don’t see alot of facts in that comment, no disrespect intended. Inflation has clearly affected wages positively over time, and it clearly aids debtors… which the middle class almost always are (mortgage).
There is NOTHING the bilkionares can do with their cash that middle class can’t, middle class can buyspy too…
Know what’d benefit z guy with 20some mil? Deflation, no need to do anything, just sit on that cash …
Not saying banks are deitous… but let’s be real, banks are anti debtors and inflation helps debtors. Controlled 2% 3% etc.
Were the grits not kind enough to experiment on this for us during their world reign?
“Brits”
the middle class are sheep. they never benefited. stocks were sold too them. real estate was sold too them. its called the boom and bust cycle. the billionare bailout is the problem. no bust allowed for them. this is the achilles heel for all the free money advocates. it only saves the super rich. and us traders. so keep it comin.
sorry about the type-o’s, trying to type on a phone, which frequently confounds me.
bluehubbard: if you want to find a party to demonize for the troubles of the middle class, look to
1. gov’t handouts (not for the rich, but for anybody too lazy to get a job)
2. Unions. The extreme negative attitude that they foster towards their employers highly encourages the exporting of jobs. try employing some people sometime and see how they really behave towards their jobs.
3. a generally complacent society
4. the middle class getting all jiggy on tech stocks and a third house, assuming they could flip them both
none of the above is the Federal Reserves fault, my fine fellow….
choose a or b
1) go back, same talents, same birth luck (into money or not), same everything and wake up 25 years old in 1888 (before the fed)
2) grow up in the 90s?
isn’t this insanely clear? how can people yap and blabber about that whole “93% of the dollars value has been lost” junk, when their wages are up 20 times? (meaning you are ahead).
when a house is as affordable as it was but its a proverbial palace relative to what people built back then?
etc?
the anti-inflation chants are flat silly, and I mean outright flat out silly.
with all due respect you are wrong. fuck the fed. im simply talkin the game. that is the bondholders. the ponzi is them. too keep them from blowin up the presses will run. it is the bailout of them that matters. the middle class that was doesnt own anything at this point. they have been fucked so many times they have no money. now we have only the super rich fuckin with each other. but with the free money ace in their sleeve. and the eurotrash and brits are what it is goin too look like. their retarded billionare nanny states will blow up first.
“Inflation is good for the middle class” – You are a joke. First of all, what middle class in America? Secondly, are you familiar with what inflation means? The erosion of purchasing power – that sounds like it is very beneficial.
As to your assertion that wages rise faster, you clearly do not mean average wages. In addition, inflation has been redefined so many times in America who knows what it means now,
agreed @tjwp. the old do tend too talk of complete bullshit. its the inconsideration of the youth reality right now that makes it so horrific. free money benifits no one but the old thru pension and soc sec. and the traders. so not bitchin here. but the tired idea that printing benefits the young or middle class is insane and total shit.
um, free money benefits mostly the poor and possibly those with large lobbys … and possibly the old.
but its not just the old, and it doesn’t hate the young. any welfare moms that are young near you? etc.
btw, the gov’t is PROFITABLE on the bank bailouts…
not as profitable on the union bailouts to date (i.e., auto industry)
your insane. if you really think foodstamps will keep the multigenerations of the new poor from burning the rich out of house and mansion? you are an extreme optimist my friend.
how isn’t it? historically (think long term not the last 5 years, and this isn’t the first period in which we have had commodity prices exceed wage growth…) wage growth has outpaced inflation, and it will again soon enough (in a long-view kind of way).
And, second, my house is in a very nice middle class neighborhood, my condo is all ritzy and all. ?Half my condo building paid cash for their condos (bunch of trust fund babies and me, and some trendy young couples), I would bet that my ENTIRE middle class neighborhood has a mortgage.
Inflation helps them because, in the fullness of time, their wages will grow as much (historically much more) as inflation.
Today they owe, lets say, 1000 or 2000 or whatever dollars a month on their mortgage and their house is worth 200k. With proper normalized inflation in 10 years their house is worth 250 or whatever, and they are making 20-30% more. THEIR MORTGAGE PAYMENT IS NOW MUCH, MUCH LESS IMPORTANT TO THEM. They have more spare income, just as nice a house, they can buy a better car, they can eat out more, they can buy daddy a new pair of shoes.
In the less common periods of time when wages don’t grow to match inflation, inflation doesn’t help anybody (including the rich), in the normal times when wage growth outpaces inflation, inflation helps the middle class most (See above).
And how, again, does inflation magically megally help the rich? in ways it couldn’t help everybody else with a job and some income? Explain, in factual detail, sparing the emotional hyperbolic prose…?
choose a or b
1) go back, same talents, same birth luck (into money or not), same everything and wake up 25 years old in 1888 (before the fed)
2) grow up in the 90s?
isn’t this insanely clear? how can people yap and blabber about that whole “93% of the dollars value has been lost” junk, when their wages are up 20 times? (meaning you are ahead).
when a house is as affordable as it was but its a proverbial palace relative to what people built back then?
etc?
the anti-inflation chants are flat silly, and I mean outright flat out silly.
check you need too get off the meds. who? bought a house in the last 5 years that isnt in foreclosure? you must be old. the young are all bust. i gigantic con.
my entire neighborhood.
all of you anti-fed, deflationist, panicistias, always resort to wild hyperbole when making points.
i am 36, I own 2 restaurants, 2 bars, 12 cars, 2 houses, and all that stuff is paid for. I sold out of several biz’s in 2008 to buy the market crash, went well. I grew up with hand me down clothes, started my first business with table waiting tips. Don’t preach to me about how the young are intrisically screwed.
I’d like to see this idea go viral: Here’s a second person writing a note from the 1%.
http://i.imgur.com/lrGg1.jpg
I actually agree with him and he is spot-on.
Wow, I should go work for a bank, sounds like the big money is there, so what’s this fuckface crying about? Doesn’t he want to make 9 times on his investment? Let him go apply to be a banker.
I do agree the govt is intending to raise prices of goods though. But ‘bring manufacturing back to america’ is stupid – manufacturing is still here, and the better we get at it, the less workers it requires. I’m sure this clown doesn’t want to work on an auto parts assembly line… Does he? There’s nothing wrong with that, but the kid comes off as a hypocrite, and like I said, as manufacturing gets better and more efficient, it requires less workers, it is NOT the future of this economy as a jobs-producer!
btw, ultimately, wild printing of money causing huge inflation won’t hurt stock holders (think very long term), but it will murderhouse bondholders… (thats one step worse than a murderhole).