tag:blogger.com,1999:blog-2761684730989137546.post2707296208548695636..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Wolf Richter — This Economy is Ruined for Many Americansmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2761684730989137546.post-91667147943660526062017-04-02T21:50:34.342-04:002017-04-02T21:50:34.342-04:00Lower-income Americans worry about basic problems,...<i>Lower-income Americans worry about basic problems, in this order:</i><br /><br />Hunger<br />homelessness<br />Healthcare<br /><br />If you're worried about these, nothing else really matters. <br /><br />Terrorism? LOL<br />Crime/violence/drug use? These are part and parcel of being poor. In other words they are the normal condition.<br />Social security? Sure, if you live that long. A couple hundred a month is a big deal when you're at the bottom.<br />Economy? Hahahaha, my investment portfolio tanked ... and I owe the CC company $8k.Noah Wayhttps://www.blogger.com/profile/12012500819097539976noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-10326166952715226282017-04-02T18:28:34.292-04:002017-04-02T18:28:34.292-04:00Random that is textbook Christendumb philosophy of...Random that is textbook Christendumb philosophy of justification thru works 101 which is a cousin of Darwinism 101 for the elite atheists...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-27922792091570446332017-04-02T17:57:43.821-04:002017-04-02T17:57:43.821-04:00"Budget deficit is #2 for better off American..."Budget deficit is #2 for better off Americans? WTF? "<br /><br />Commentator "Blissex" said in a comment a while back on stumbling and mumbling:<br /><br />For a given level of unemployment, loose money and tight fiscal policy might generate more inequality.<br /><br />In a democratic system this might be a strongly expressed preference of many if not most voters, because they might well think that more inequality favours them, especially if it is asset-price based inequality and they happen to be long assets but (relatively) short productive work, for example middle aged or retired people<br /><br />Also:<br /><br />"So there is little mobility and the majority of voters should be voting according their current wallets, not their delusionary future ones. But that culture change requires a very long time; and who is going to push it? Who has a vested interest in snapping the median voter out of the dream of becoming a Dixie plantation owner? Can't see anybody paying money to do that."<br /><br />"look at it from the point of view of the "Republican suburbanite", who is sure that he *deserves* morally to be rewarded for his superior abilities, and that it is equally moral that every untermensch get punished for their inferior character.<br /><br />The key is the Dixie attitude that in a plantation there are the deserving Real Americans in their hilltop mansion (the gated community) and the rest are insignificant, worthless untermensch.<br /><br />In countries where the rich think themselves as ordinary people with more money they too see the good points of insuring *everybody* against excessive risk.<br /><br />The USA has been going Dixie, and going Dixie is what Latin America has done for a long time: with light skinned elites with a pretty decent and advanced standard of living, and to whom the benefits of civilization is reserved, and a majority of brown untermensch. Sure, the averages are terrible, but the light skinned elites are doing well, so why worry about the rest? It is a bimodal distribution."Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-74719902280508671812017-04-02T17:39:51.597-04:002017-04-02T17:39:51.597-04:00"Budget deficit is #2 for better off American...<br />"Budget deficit is #2 for better off Americans? WTF? "<br /><br />They all think that one day the govt is going to HAVE TO impose a large tax on them and take away all of their munnie they have saved ..... to avoid "bankruptcy!" Etc....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com