Rich getting richer, while poor getting poorer, report says

When has that ever not been the case on this planet?

When has that ever not been the case on this planet?

Part of the reason is poor vs. not poor ways.

Poor people often stay poor because they never learned long term planning. My poor relatives plan for what booze they will drink each weekend. I am planning out for my future grandchildren. IOW, the poor don't plan forward, the not poor plan generations forward.

Yes, I know there are outliers in both categories. I am speaking in very general terms.

How did I become not poor? When growing up, a friends parents taught me the value of planning & deferred gratification, AND, I was smart/wise enough to listen & learn.

The poor spend all their money on crap sold by the rich...and we thank you...

add to that some countries are working on removing the petrodollar

whole world basically depends of it

fter the collapse of the Bretton Woods gold standard in the early 1970s, the United States struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.

The petrodollar system elevated the U.S. dollar to the world's reserve currency and, through this status, the United States enjoys persistent trade deficits and is a global economic hegemony. The petrodollar system also provides U.S. financial markets with a source of liquidity and foreign capital inflows through petrodollar "recycling." However, a full explanation of the effects of petrodollars on the U.S. dollar requires a brief synopsis of the history of the petrodollar.

History of the Petrodollar
Faced with mounting inflation, debt from the Vietnam War, extravagant domestic spending habits, and a persistent balance of payments deficit, the Nixon administration decided in Aug. 1971 to suddenly (and shockingly) end the convertibility of U.S. dollars into gold. In the wake of this “Nixon Shock,” the world saw the end of the gold era and a free fall of the U.S. dollar amidst soaring inflation.

[link to www.investopedia.com (secure)]

and USA surely will never let that happen

It's true, all the money is flowing to the rich. The middle class are slowly becoming extinct.

IMO, this is mostly due to the increasing corporatization of the economy. A trend which has vastly accelerated over the last 10 years thanks to super low interest rates which make it easy and inexpensive for corporations to borrow and buy out private companies.

Only way for most people to get a piece of that pie is by investing in stocks and bonds. Otherwise you're just gonna get left behind. Wish it weren't so, but it is and I don't see that changing anytime soon.

The day the petrodollar ends is the day I will throw a big party. Too many rich leeches made wealthy from it.

The poor spend all their money on crap sold by the rich...and we thank you...

Most rich make their money from the stock market.
The same market the Fed is printing billions of dollars to prop up.

Other people pay for that with everything getting more expensive.

Welfare for the rich, everyone else is on their own.

It's because there are too many opportunities for growth, maybe growth should be banned and everyone will be equally poor just like it was back in the day in the communist block. Still remember staying Lin line for 2 hours to buy a bread, but hey everyone was equal!

The problem is that only control freak psychos need to be better than others. They crave power and wealth. They can have it all. The next life is going to be plenty warm where they’ll end up.

Walton's?

To get to the top 10% you only need to make $120k, that's a husband and wife filing jointly with modest middle class jobs.

See how they slide that shit down? It used to be let's kill the 1%, now it's the 10%.

Poor people won't make more money until we start building things in America again, that's how dumb people get a good income.

The people in the bottom 25% of income are never going to be doctors and lawyers, for them it's either work on an assembly line for good money or work at Dunkin Donuts serving coffee to people with jobs that actually accomplish something.

Regulations are making those people poor, make us competitive to manufacture shit and the money will come.

You don't even need to roll back environmental regulations, just get rid of the red tape. People aren't building factories here because it takes 5 years to make sure there aren't any tree frogs in the area before they can get a permit... fuck the tree frogs I'm on team people.

This is how the rich are getting richer

Thread: Republicans & Democrats planning 400 billion corporate debt forgiveness

It seems the ultra rich corporations could give a few more crumbs and pay people a decent wage.

The poor get poorer as government gets bigger and the Constitution gets smaller. But the poor never make the connection. The bigger the government, the smaller the citizen.

add to that some countries are working on removing the petrodollar

whole world basically depends of it

fter the collapse of the Bretton Woods gold standard in the early 1970s, the United States struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.

The petrodollar system elevated the U.S. dollar to the world's reserve currency and, through this status, the United States enjoys persistent trade deficits and is a global economic hegemony. The petrodollar system also provides U.S. financial markets with a source of liquidity and foreign capital inflows through petrodollar "recycling." However, a full explanation of the effects of petrodollars on the U.S. dollar requires a brief synopsis of the history of the petrodollar.

History of the Petrodollar
Faced with mounting inflation, debt from the Vietnam War, extravagant domestic spending habits, and a persistent balance of payments deficit, the Nixon administration decided in Aug. 1971 to suddenly (and shockingly) end the convertibility of U.S. dollars into gold. In the wake of this “Nixon Shock,” the world saw the end of the gold era and a free fall of the U.S. dollar amidst soaring inflation.

[link to www.investopedia.com (secure)]

and USA surely will never let that happen

No, they were poor because the workers were not allowed to organize for better pay. Unions are banned in Communist Countries.

With the decline of Unions in the USA, pay is also going down.

What a coinkydink.

The rich own the government, not the poor.
I have never met a poor person shoveling millions of dollars into politicians pockets.

Part of the reason is poor vs. not poor ways.

Poor people often stay poor because they never learned long term planning. My poor relatives plan for what booze they will drink each weekend. I am planning out for my future grandchildren. IOW, the poor don't plan forward, the not poor plan generations forward.

Yes, I know there are outliers in both categories. I am speaking in very general terms.

How did I become not poor? When growing up, a friends parents taught me the value of planning & deferred gratification, AND, I was smart/wise enough to listen & learn.

Well, sooner or later the economy is going to collapse. The value of the dollar keeps falling, national debt keeps rising and the dollar is worth less and less every day.

Its only a matter of time before the economy collapses.

The poor spend all their money on crap sold by the rich...and we thank you...

how does one keep getting poorer?

are the things they do own breaking at a faster rate?