From the NYT:
Rising home prices are raising equity levels, and homeowners are cashing in on these gains.
In the first three quarters of this year, the sales volume of single-family homes and condominiums reached the highest level since the same period in 2006, according to RealtyTrac, a provider of property data. Homeowners who sold during the third quarter also reaped the highest price gain in eight years — an average of 17 percent over their purchase price, or $40,658.
Other data shows that homeowners are taking advantage of rising values by refinancing their mortgages in order to cash out a portion of their equity.
The group of homeowners that RealtyTrac categorizes as “equity rich,” meaning they have at least 50 percent equity in their homes, has been increasing over all, said Daren Blomquist, a vice president of RealtyTrac.
But in the third quarter, the share declined from the quarter before, to 19.2 percent of all homeowners with a mortgage from 19.6 percent. The group with less than 50 percent equity, however, grew, while the ranks of those with negative equity shrank.
“What that tells me,” Mr. Blomquist said, “is that people are either selling and moving into a bigger home, or refinancing it and leveraging some of that equity, so they don’t have as much equity in the home as they did before.”
…
Refinancing activity in general has risen in recent months, as interest rates have remained low. In September, refinanced loans represented 42 percent of lenders’ loan volume, according to Ellie Mae, a software provider for the mortgage industry. That was a 5 percent increase over August, and the highest level since May.In many mid- to high-end housing markets, rising home prices have made it difficult for existing homeowners to move up, said Norman T. Koenigsberg, the president and chief executive of First Choice Loan Services in East Brunswick, N.J. As an alternative, he said, “families are tapping into their equity to improve their homes, either as a long-term strategy or to enable them to resell it sooner at a greater profit.”
@NolteNC: “I’ll bomb the shit out of ISIS.” – Trump 24 hours ago.
“ISIS is contained.” – Obama 8 hours ago.
Boys, fire up the engines, time to turn Syria to glass. Vaporize all ISIS held oil assets.
Caedite eos, novit enim Dominus qui sunt eius.
This guy annoyed the crap out of me yesterday on CNBC. No less than 3 times he lauds the “successful” attacks. It was easy to find today because dickless is so proud of himself that he put the link on his twitter feed.
http://video.cnbc.com/gallery/?video=3000453275
https://twitter.com/rwindrem?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
[3] I think I heard a LI guy saying that as he floated by in a row boat. It looked like there was a chick’s high heels in the oarlocks too.
Caedite eos, novit enim Dominus qui sunt eius.
That’s the lesser known translation … Screw them all, let Penicillin sort it out.
I’m fairly certain that the attack on Paris was W’s fault.
Time to drop the bombs on the Middle East. Innocent lives will be sacrificed, but this movement filled with complete evil must be put to an end before it spreads and gets even worse.
It’s no coincidence that this Isis movement came about in the same decade as the 2008 financial crash that destroyed the world economy. The 2008 crisis pretty much impacted the 20-40 age group more than any other age group. This is the group of human beings that can’t find jobs. In America alone, how many people in this age group are stuck living at home because the economic opportunities blow. So imagine what’s happening in these other countries that do not have an economy anywhere close to America. They become easy recruiting targets. They are depressed with their life, hence, easily manipulated. Eventually these people become absorbed with hate and become the Isis soldier. The consequences of the immense income inequality that has been growing in our world are starting to show. Give angry youth an outlet for their rage, and they will take it.
Jobs and opportunities could have prevented this all. If you are going to hold back opportunities from populations, you will always be dealing with some type of group like Isis.
“Here is what happened: In 2003, the U.S. military, on orders of President Bush, invaded Iraq, and nineteen days later threw out Saddam’s government. A few days after that, President Bush or someone in his Administration decreed the dissolution of the Iraqi Army. This decision didn’t throw “thirty thousand individuals” out of a job, as Ziedrich said—the number was closer to ten times that. Overnight, at least two hundred and fifty thousand Iraqi men—armed, angry, and with military training—were suddenly humiliated and out of work.”
“In this sense, Ziedrich is right again, at least notionally: some of the men fighting in ISIS were put out of work by the American occupiers in 2003. Still, it’s not clear—and it will never be clear—how many of these Iraqis might have remained peaceful had the Americans kept the Iraqi Army intact. One of the Iraqis closest to Baghdadi was Ibrahim Izzat al-Douri, a senior official in Saddam’s government until 2003. (Douri was reported killed last month—it’s still not clear if he was or not.) It’s hard to imagine that Douri—or any other hardcore member of Saddam’s Baath Party—would have ever willingly taken part in an American occupation, whether he had a job or not. So, in this sense, Ziedrich is overstating the case. While it’s true that George W. Bush took actions that helped enable the creation of the Iraqi insurgency, and that some leaders of the insurgency formed ISIS, it’s not true that he “created” ISIS. And there’s a good argument to be made that an insurgency would have formed following the invasion of Iraq even if President Bush had kept the Iraqi Army together. He just helped to make the insurgency bigger.”
http://www.newyorker.com/news/news-desk/did-george-w-bush-create-isis
Second quote I posted explained that bush isn’t to blame for it all. All I’m saying is that if these people had jobs and life worth living, they would never ever join a movement like this. Too many people in this world have more than they need, and too many have nothing. Bound to lead to problems like this where people become angry and disenfranchised by the system
Enough is enough. The terror will occur here before long, but not before what liberties remain are taken away in the name of homeland security. The enemy has no fear until they see the wrath of our military industrial complex on full display. And any time someone tries to claim we hit a hospital or a school, just respond by showing a picture of the old twin towers.
Wait till we find out it wasn’t Syrians….
Bomb who now?
Grim,
Can the fcuking pumpkin be banned for saying the financial crisis a handful of years ago is responsible for extremists who’ve been killing in the name of their religion for thousands of years?
Young men do not join ISIS because they are poor, lack job and educational opportunities, or are oppressed by their local dictator. They join ISIS because they believe it is Allah’s will and that by killing the infidel they are carrying out Allah’s mandate. The problem is Islam, which is both a religion and political system. It provides all the answers, requires no thought, promises wealth, women and glory. To end the terrorist threat, one must end Islam. The West has fought this war before and it lasted for hundreds of years. This is only the second round.
Juice, the pumpkin is right on post #8 in regards to the manpower.
However, the real guts/structure of ISIS & AQ come from Saudia Arabia, UAR, Qatar, and that gulf area’s multiple principalities, aristocracies and royalties. They are the one funding them. Think mob families.
You start going after that and it will be 75% of the issue taken care of. But these parties are two face. One face supports ISIS/AQ, the other face own large share of Citibank, does deals with Wall Street, London banks, and major multinationals across all fields and western & eastern countries. These business counterparties like to keep their bread and butter going. It’s sort of doing business with Japan and Germany right up to the break out of WW2.
Remember, it can get confusing.
Taliban – Created by CIA & Pakistan Intelligence to fight USSR. US abandoned project at end of cold war, Pakistan took whole position and keeps it.
AQ – Saudi Intelligence unofficially, along with multiple aristocrats from the gulf to counter Hezbollah and Shite muslims like groups. A tool to be used by certain groups, think White Citizens Council in deep south promoting segregation, but at same time members where mostly the “southern aristocracy” promoting their “way of life” but in reality allowing them to have control and punching power above the usual ways.
ISIS – AQ version 2.0 where a lot of the people Pumpkin talks about in #8 went into. This group is still heavily supported by the same people, but they have lost control, see how the new Saudi King and his family branch is backtracking heavily away from the religious side, and is talking the “reform” issues.
So you want to bomb. First bomb the houses/offices/cars/planes/boats, etc of these aristocrats. A job the FSB (old KGB) will soon start doing in a very efficient manner).
Then you bomb the ISIS grunts in the field.
Juice Box says:
November 14, 2015 at 11:46 am
Wait till we find out it wasn’t Syrians….
Bomb who now?
If it is a sole problem of the religion of Islam, how come all muslims are not doing things like isis is doing? Saudi Arabia has plenty of fuc!king money, how come they are not dealing with this shi!? How come this is rooted in poor muslim countries? How come every participant fighting or blowing themselves up in isis is poor? i’m not talking about the leadership, I’m talking about the soldiers.
So call me stupid, but if all these isis soldiers had money and were not at the bottom of society, would they be doing what they are doing? You can blame Islam all you want, but this comes to money and opportunity. People with money and opportunity do not JOIN ISIS and KILL THEMSELVES for a religion. When you have money and opportunities, your mind is content with concentrating on keeping your job, money, and opportunities. When you don’t have these things, you have the mindset of the ISIS soldier who has nothing to freaking lose. This world is horrible for them, and they have no problem in destroying it.
Apply the same thinking to our own “rich” country. Who joins gangs? Who robs, steals, and riots in the streets of America? Who turns to the criminal economy to survive? People with nothing to lose, and quite frankly, no choice but to turn to criminal activities to survive. They can’t get jobs and the economy left them behind long before they were even born. They never had a chance since day 1, and then you wonder why they turn to gangs and drug dealing to survive?
Just try and put yourself in the shoes of these individuals, and what would cause them to act the way that they do. It’s called desperation and no role in the legal economy for them. So they naturally turn to what opportunities they can find. For isis members, it’s taking down the man that has been holding them down. You can bring all the religious bs talk you want, but someone with a good job and a good life will never be manipulated to join a cause like isis. They are not in the mental state or position of someone who has nothing to lose. That’s the bottom line.
4
Expat
When I watched your link, I didn’t get the vibe he was lauding the attack. I suppose he didn’t need to refer to the attack as successful (definitely not a 2nd time) because that was apparent without further commentary.
13
I agree when people attack this country or allies, we should use the military we’re rightfully so proud of here; and we also shouldn’t be letting just anyone come into this country so easily. When I hear “end Islam” or something similar, I don’t know what that means for the non-violent Muslims here already?
15- In America, now you know why I’m so scared of just taking all the tax money away from social programs for the poor? They will eventually become a bigger problem and cost more money in the long run, if you don’t throw them some crumbs. So take away all the social programs that funnel money to the ghettos, and I promise you, you will be left with a similar problem to the isis group. Take away the free public education and America will go to hell. Ghetto’s will become completely lawless, more so than they are now, and we will have to live with the consequences of holding down a population of human beings, just like the middle east is dealing with isis.
“Who turns to the criminal economy to survive? ”
Politicians, Wall Street types, lawyers, cops, judges, prosecutors, etc
Show me evidence of one of these soldiers not being poor and uneducated.
Now Spanky be reasonable says:
November 14, 2015 at 12:01 pm
Young men do not join ISIS because they are poor, lack job and educational opportunities, or are oppressed by their local dictator. They join ISIS because they believe it is Allah’s will and that by killing the infidel they are carrying out Allah’s mandate. The problem is Islam, which is both a religion and political system. It provides all the answers, requires no thought, promises wealth, women and glory. To end the terrorist threat, one must end Islam. The West has fought this war before and it lasted for hundreds of years. This is only the second round.
Re : end islam.
Been done before.
http://www.history.com/this-day-in-history/macarthur-orders-end-of-shinto-as-japanese-state-religion
re#15:
https://en.wikipedia.org/wiki/Jihadi_John
Note that he was a university graduate.
Sure, some of the fighters are poor, but many are not. Many are educated and raised in the middle class.
Saudi Arabia and the Royal House of Saud are very much at the root of the problem. They are the ones who have been exporting a fundamentalist belief in the teachings laid out in the Koran. They are the ones who are responsible for the spread of Wahhabism.
https://en.wikipedia.org/wiki/Wahhabism
It is ridiculous to compare ISIS to a gang. Young men join gangs in the US to replace a family unit that does not exist. Gang members are overwhelmingly fatherless. Gangs do not have an ideology, a codified belief system. Gangs exist solely for themselves. ISIS exists to do the will of Allah.
Why aren’t more muslims behaving as violently as ISIS? Well, someone needs to produce more muslims! They prefer to take the long view and subvert from within. The majority of muslims in the US do not consider themselves American and prefer to live under Sharia Law. It begs the question what are they doing here? I think of them as parasites. They are here to feed off of us and eventually take over the host.
And, sorry, but there is no amount of poverty, no amount of hunger and hopelessness that would convince me it is a good and necessary thing to behead a three-year old girl, marry off a seven-year old girl to the highest bidder or slaughter whole villages. However, such atrocities have been committed repeatedly throughout history because of a closely held belief system.
#19
http://www.al-monitor.com/pulse/security/2014/11/tunisian-jihadis-profile-fighting-syria.html#
21- Dude, when has any war been fought by kids with money? Are you serious? Soldiers have always been predominately poor in human history.
Listen, it’s only natural for the have nots to become angry with the haves. That’s why I associated the rise with ISIS with the worst world economic crash(2008) since the Great Depression. The Great Depression directly led to wwII. Take away the depression and hitler can’t even come to power. The depression brought misery to people, and hitler used this to blame the jews and come to power. Exactly what isis leaders are doing, taking advantage of people’s misery, which causes them to be in frantic state of mind, where they will be easily manipulated into doing what they are doing.
re #23 – Pumps sure draft the rich.
http://time.com/3739513/a-modest-proposal-draft-the-rich/
Look, taken right from your article. All about money. They left the movement because the ISIS leaders were pulling an “Animal Farm” move. They live lavish lives, while the rest scrounge to make enough. It’s all about money and opportunities, blame religion all you freaking want.
“Hassan recounted how his son, Abdul Rahman, came back from Syria when his fervor for jihad waned. He told his father about Jabhat al-Nusra leaders who joined ISIS and lived lavish lives, while his son’s Salafist friends were scrounging to amass enough money to pay for the cost of airfare to Syria. As a result, the young man grew disillusioned with jihad and returned to Tunisia, where his faith in jihad was ultimately restored. He, like many others who were on the verge of graduating from university, was studying computer science at the University of Tunis in the capital, where he excelled. His father added that a mosque and a computer were all that was needed to recruit his son on two different occasions.”
Read more: http://www.al-monitor.com/pulse/security/2014/11/tunisian-jihadis-profile-fighting-syria.html#ixzz3rUUPvAN5
Bingo!! All about the money.
“In itself, this is an indication that the “jihad in Syria” phenomenon was fed by the total collapse of the economic, social and educational constructs, as well as by the lack of values inherited from the previous regime. No direct relationship existed between jihadist tendencies and the former regime’s values; for, in fact, the connection lay between jihad and the fall of that regime, with jihadists primarily emerging from the latter’s strongholds.”
Read more: http://www.al-monitor.com/pulse/security/2014/11/tunisian-jihadis-profile-fighting-syria.html#ixzz3rUVSfwCn
Pumps by the way the 19 hijackers on Sept 11th weren’t for the most part poor stupid kids.
The 9/11 commission report is still redacted on the involvement of high-ranking Saudi officials.
I blame Obama for this, you can Blame bush for ISIS, but to the point of post #14 we haven’t gotten rid of the really bad guys the House of Saud et all.
#26 That’s why they left, not why they joined.
#27 What that means is the Tunisians who went to Syria were able to engage in Jihad in Syria because of the destruction of the Syrian dictatorship, economy and society. “…the lack of values inherited by the previous regime…” means that there was a vacuum in the mess that Syria became, allowing for Jihad to enter.
It doesn’t mean that the Tunisian ISIS members were poor. Reading Comprehension 101
25- Exactly.
“So how do we structure things so that wars waged on behalf of all Americans aren’t experienced by the slimmest segment of the population? We could reinstate the draft, but this is overly simplistic. Vietnam taught us that unless the country is engaged in total war, a national draft is a failed model. With student deferments and various loopholes most often exclusively leveraged by the well-off, or influential, the brunt of that conflict fell to America’s poorest, most marginalized citizens, creating a toxic social rift. Also, the effectiveness of our all-volunteer force should not be compromised. So what construct exists where America maintains an effective fighting force while our citizenry becomes more conscious of its wars, steering us clear of future fourteen-year conflicts?
What I propose is a partial draft—five percent of the 1.4 million service members on active duty, approximately 70,000 troops, to be conscripted for a half enlistment of two years through a lottery system pooled exclusively from sons and daughters of households falling within the highest tax bracket. Keeping the percentage of conscripts low will maintain the efficacy of the all-volunteer force, and limiting the draft to the children of the wealthiest and most influential Americans will stymie a tolerance for perpetual war on the part of critical decision makers. I would propose that draftees be assigned exclusively within the fields of combat arms: infantry, tanks, artillery, engineers, career paths which by and large have been opened up recently to women, and would ensure that no undue influence could be leveraged to secure work in areas far from actual fighting. Lower and middle class Americans will continue to join the military for educational opportunities, but with well-to-do citizens serving in greater numbers we would create an all-volunteer force which more accurately represents America.
I don’t expect this modest proposal to come about any time soon. But I keep returning to that August day when only the slimmest slice of America was aware of Giff’s funeral. Gathering around his coffin, the Chaplain offered a few remarks, and although I stood near by, I couldn’t hear his prayers. As anyone who has buried a friend in Section 60 knows, the shuttles arriving from New York and Boston fly their final approaches right over the graves, their engines drowning out all other noise. Perhaps if this proposal were in place that day, things would’ve been different. Perhaps the head of the FAA or some senior executive at one of the airlines would’ve had a son or daughter also serving and so, hearing of Giff’s death, he or she could have thought of a way to change the flight patterns. Inconvenient as it would’ve been, it would have allowed us, just for that moment, to together say our prayers in peace.
Elliot Ackerman served five tours in Iraq and Afghanistan and is the recipient of the Silver Star, the Bronze Star for Valor, and the Purple Heart. His novel of the Afghan War, Green on Blue, was published in February by Scribner.”
http://time.com/3739513/a-modest-proposal-draft-the-rich/
Jesus, the points went right over your head.
#26- It shows that it is not about islam, it’s about money. Why did they leave isis? They saw the leaders living lavishly, while they barely had anything.
#27 Read this over again, the country had an economic collapse and then what followed? Take away the economic collapse and this would have never happened had they all been living a respectful life not wrapped up in poverty.
“In itself, this is an indication that the “jihad in Syria” phenomenon was fed by the total collapse of the economic, social and educational constructs, as well as by the lack of values inherited from the previous regime”
Now Spanky be reasonable says:
November 14, 2015 at 1:28 pm
#26 That’s why they left, not why they joined.
#27 What that means is the Tunisians who went to Syria were able to engage in Jihad in Syria because of the destruction of the Syrian dictatorship, economy and society. “…the lack of values inherited by the previous regime…” means that there was a vacuum in the mess that Syria became, allowing for Jihad to enter.
It doesn’t mean that the Tunisian ISIS members were poor. Reading Comprehension 101
Spanky,
He asked you to produce evidence of one; you did and then he started trolling about something else. Do not respond further as you’re only enabling his schizophrenia.
You see that last line, high unemployment among the youth. Any questions?
“Tunisia has a diverse economy, ranging from agriculture, mining, manufacturing, and petroleum products, to tourism. In 2008 it had a GDP of US $41 billion (official exchange rates), or $82 billion (purchasing power parity). It also has one of Africa and the Middle East’s highest per-capita GDPs (PPP). The agricultural sector stands for 11.6% of the GDP, industry 25.7%, and services 62.8%. The industrial sector is mainly made up of clothing and footwear manufacturing, production of car parts, and electric machinery. Although Tunisia managed an average 5% growth over the last decade it continues to suffer from a high unemployment especially among youth”
He produced none of the such. You guys are suffering from believing what you want to believe. I used his own article against his own argument. You really want me to believe that the soldiers fighting in isis are well off as opposed to poor? You guys call me an idiot? Open up your eyes.
Joyce says:
November 14, 2015 at 1:48 pm
Spanky,
He asked you to produce evidence of one; you did and then he started trolling about something else. Do not respond further as you’re only enabling his schizophrenia.
Obama now nnheaded to the G20 meeting in Turkey.
Nice looking place, I wonder if Putin plays golf?
https://www.google.com/maps/place/Regnum+Carya+Golf+%26+Spa+Resort/@36.86272,28.774391,7z/data=!4m2!3m1!1s0x0:0x4f3d85faee1cacbc
BREAKING: Paris terrorist was a Syrian refugee, says Greece government official
Headline on drudge
http://www.express.co.uk/news/world/619447/Paris-terrorist-Syrian-refugee-Greece-government-official
his father would agree with you
Libturd in Union says:
November 14, 2015 at 9:50 am
I’m fairly certain that the attack on Paris was W’s fault
Joyce @#32
It reminds me of Act 4, Scene 5, lines 3-5 from Taming of The Shrew.
I agree, it’s wealthy educated individuals fighting in isis blowing themselves up. It’s all about religion. Let’s blame rich arab kids and their religion for this mess.
Now Spanky be reasonable says:
November 14, 2015 at 2:23 pm
Joyce @#32
It reminds me of Act 4, Scene 5, lines 3-5 from Taming of The Shrew.
thanks W
@ianbremmer:
Most important context for Paris bombings: Failed states in Afghanistan, Iraq, Libya, Syria & Yemen with no hope of stability.
Nope, it’s rich arab kids and their religion. Stop blaming economics for the problem.
anon (the good one) says:
November 14, 2015 at 2:32 pm
thanks W
@ianbremmer:
Most important context for Paris bombings: Failed states in Afghanistan, Iraq, Libya, Syria & Yemen with no hope of stability.
From two year’s ago, but what a gem. Ragner, read and understand this article, only then you will realize how wrong you are. Keep believing in a naive myth that is perpetuated by the rich to justify their position.
“As America struggles with high unemployment and record inequality, everyone is offering competing solutions to the problem.
In this war of words (and classes), one thing has been repeated so often that many people now regard it as fact.
“Rich people create the jobs.”
http://www.businessinsider.com/rich-people-create-jobs-2013-11
Specifically, by starting and directing America’s companies, entrepreneurs and rich investors create the jobs that sustain everyone else.
This statement is usually invoked to justify cutting taxes on entrepreneurs and investors. If only we reduce those taxes and regulations, the story goes, entrepreneurs and investors can be incented to build more companies and create more jobs.
This argument ignores the fact that taxes on entrepreneurs and investors are already historically low, even after this year’s modest increases. And it ignores the assertions of many investors and entrepreneurs (like me) that they would work just as hard to build companies even if taxes were higher.
But, more importantly, this argument perpetuates a myth that some well-off Americans use to justify today’s record inequality — the idea that rich people create the jobs.”
If you really understand economics, than you will not push this stupid myth that the rich create jobs. This guy does a phenomenal job of presenting this information. Great job of using the squirrel and seed as examples of how this works.
“So, if rich people do not create the jobs, what does?
A healthy economic ecosystem — one in which most participants (especially the middle class) have plenty of money to spend.
Over the last couple of years, a rich investor and entrepreneur named Nick Hanauer has annoyed all manner of other rich investors and entrepreneurs by explaining this in detail. Hanauer was the founder of online advertising company aQuantive, which Microsoft bought for $6.4 billion.
What creates a company’s jobs, Hanauer explains, is a healthy economic ecosystem surrounding the company, which starts with the company’s customers.
The company’s customers buy the company’s products. This, in turn, channels money to the company and allows the the company to hire employees to produce, sell, and service those products. If the company’s customers and potential customers go broke, the demand for the company’s products will collapse. And the company’s jobs will disappear, regardless of what the entrepreneurs or investors do.
Now, again, entrepreneurs are an important part of the company-creation process. And so are investors, who risk capital in the hope of earning returns. But, ultimately, whether a new company continues growing and creates self-sustaining jobs is a function of the company’s customers’ ability and willingness to pay for the company’s products, not the entrepreneur or the investor capital. Suggesting that “rich entrepreneurs and investors” create the jobs, therefore, Hanauer observes, is like suggesting that squirrels create evolution.
Or, to put it even more simply, it’s like saying that a seed creates a tree. The seed does not create the tree. The seed starts the tree. But what actually grows and sustains the tree is the combination of the DNA in the seed and the soil, sunshine, water, atmosphere, nutrients, and other factors that nurture it. Plant a seed in an inhospitable environment, like a desert or on Mars, and the seed won’t create anything. It will die.”
Or, to put it even more simply, it’s like saying that a seed creates a tree. The seed does not create the tree. The seed starts the tree. But what actually grows and sustains the tree is the combination of the DNA in the seed and the soil, sunshine, water, atmosphere, nutrients, and other factors that nurture it. Plant a seed in an inhospitable environment, like a desert or on Mars, and the seed won’t create anything. It will die.”
I love when people use vegetation metaphors to try to prove their point. You know….I have a Dill Plant. It creates about 2000 seeds if I let it keep growing. I did once. I had Dill growing in every little crevice along my property after that. So, I keep chopping it down and it never spreads. The tree can’t go to seed if you keep chopping away at it.
@ianbremmer: Top Middle East Priorities
U.S.: Iran Deal
Russia: Assad
Germany: Refugees
China: Oil
ISIS: Getting stronger
[30] pumps
What is it with your fascination with the blatantly unconstitutional?
42- From the same article. This billionaire gets it. We all in this together. It’s an economic system, and the system does not begin and end with the owner or investor. An owner or investor did not create any jobs, the MARKET DID. The faster people realize this, the faster we can improve the economy. We are ALL APART OF THE MARKET, each serving their role in the market. When the balance becomes tipped and the market is no longer balanced, it will not longer function the way it was intended to.
“So, then, if what creates the jobs in our economy is, in part, our companies’ customers, who are these customers? And what can we do to make sure these customers have more money to spend to create demand and, thus, jobs?
The customers of most companies are ultimately American’s gigantic middle class — the hundreds of millions of Americans who currently take home a much smaller share of the national income than they did 30 years ago, before tax policy aimed at helping rich people get richer created an extreme of income and wealth inequality not seen since the 1920s.
America’s middle class has been pummeled, in part, by tax policies that reward “the 1%” at the expense of everyone else.
It has also been pummeled by globalization and technology improvements, which are largely outside of any one country’s control.
The prevailing story that justifies tax cuts for America’s entrepreneurs and investors is that the huge pots of gold they take home are supposed to “trickle down” to the middle class and thus benefit everyone.
Unfortunately, that’s not the way it actually works.
First, America’s companies are currently being managed to share the least possible amount of their income with the employees who help create it. Corporate profit margins are at all-time highs, while wages are at an all-time low.
Second, as Hanauer observes, America’s richest entrepreneurs, investors, and companies now have so much money that they can’t possibly spend it all. So instead of getting pumped back into the economy, thus creating revenue and wages, this cash just remains in investment accounts.
Hanauer explains why.
Hanauer takes home more than $10 million a year of income. On this income, he says, he pays an 11% tax rate. (Presumably, most of the income is dividends and long-term capital gains, which carry a tax rate of about 20%. And then he probably has some tax shelters that knock the rate down the rest of the way).
With the more than $9 million a year Hanauer keeps, he buys lots of stuff. But, importantly, he doesn’t buy as much stuff as would be bought if his $9 million were instead earned by 9,000 Americans each taking home an extra $1,000 a year.
Why not?
Because, despite Hanauer’s impressive lifestyle — his family owns a plane — most of the $9+ million just goes straight into the bank (where it either sits and earns interest or gets invested in companies that ultimately need strong demand to sell products and create jobs). For a specific example, Hanauer points out that his family owns 3 cars, not the 3,000 cars that might be bought if his $9+ million were taken home by a few thousand families.
If that $9+ million had gone to 9,000 families instead of Hanauer, it would almost certainly have been pumped right back into the economy via consumption (i.e., demand). And, in so doing, it would have created more jobs.
Hanauer estimates that, if most American families were taking home the same share of the national income that they were taking home 30 years ago, every family would have another $10,000 of disposable income to spend.
That, Hanauer points out, would have a huge impact on demand — and, thereby job creation.
So, if nothing else, it’s time we stopped perpetuating the fiction that “rich people create the jobs.”
Rich people don’t create the jobs.
Our economy creates jobs.
We’re all in this together. And until we understand that, our economy is going to go nowhere.”
How is this good for the market’s health? Please explain.
“First, America’s companies are currently being managed to share the least possible amount of their income with the employees who help create it. Corporate profit margins are at all-time highs, while wages are at an all-time low.
Second, as Hanauer observes, America’s richest entrepreneurs, investors, and companies now have so much money that they can’t possibly spend it all. So instead of getting pumped back into the economy, thus creating revenue and wages, this cash just remains in investment accounts.”
Yes, but he was just trying to make a point so that hard headed individuals can understand that a system does not begin and end with one player.
Ben says:
November 14, 2015 at 4:14 pm
Or, to put it even more simply, it’s like saying that a seed creates a tree. The seed does not create the tree. The seed starts the tree. But what actually grows and sustains the tree is the combination of the DNA in the seed and the soil, sunshine, water, atmosphere, nutrients, and other factors that nurture it. Plant a seed in an inhospitable environment, like a desert or on Mars, and the seed won’t create anything. It will die.”
I love when people use vegetation metaphors to try to prove their point. You know….I have a Dill Plant. It creates about 2000 seeds if I let it keep growing. I did once. I had Dill growing in every little crevice along my property after that. So, I keep chopping it down and it never spreads. The tree can’t go to seed if you keep chopping away at it.
Show me evidence of one of these soldiers not being poor and uneducated.
-Pumpkinator
Enter Jihadi John
Emwazi was born Muhammad Jassim Abdulkarim Olayan al-Dhafiri[16] on 17 August 1988 in Kuwait[1] to Jassem and Ghaneyah.[14] The family, who were Bedoon of Iraqi origin,[14] moved to the United Kingdom in 1994 when he was six.[17] They settled in inner west London, moving between several properties in Maida Vale,[18] later living in St John’s Wood and finally in Queen’s Park.[18][19] Emwazi attended St Mary Magdalene Church of England primary school, and later Quintin Kynaston School.[11]
In 2006, he went to the University of Westminster, studying Information Systems with Business Management. He secured a lower second-class BSc (Hons) on graduation three years later.[11] At age 21, he worked as a salesman at an IT company in Kuwait and was considered by his boss as the best employee the company ever had.[14]
Rented VW Polo found near Bataclan concert hall was Belgian
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Belgium detained at least three people with suspected links to the terror attacks in Paris that left at least 129 people dead, as police raids continued Saturday evening in Brussels.
Two of those detained from the Brussels district of Sint-Jans-Molenbeek are Belgians suspected of taking part in the Paris attacks, Interior Affairs Minister Jan Jambon said on VTM television. Another person was detained in the same neighborhood, prosecutors said.
http://www.bloomberg.com/news/articles/2015-11-14/belgian-raids-on-paris-terror-suspects-ongoing-prosecutors-say
re # 50 – About half of the recent applicants for asylum in Belgium are from Iraq and 20% are from Syria. As the whole story unfolds we will find out more, when will Europe deploy their military to stop the immigrants from coming in?
http://www.npr.org/sections/parallels/2015/09/08/438539779/the-migrant-crisis-by-the-numbers
[17] Everybody knows the US government survives on 1.)Giving the poor enough money not to riot and 2.)Giving the rich enough money not to leave. The problem is that the pot of money in the middle that finances these giveaways is starting to show it’s bottom. My greatest fear for the US economy is not providing jobs but, rather, that every family that makes less than $35K will suddenly just quit their jobs so they can have more disposable income, more leisure time, and a better quality of life (until it all comes crashing down, that is).
Well said.
The Original NJ ExPat says:
November 14, 2015 at 7:37 pm
[17] Everybody knows the US government survives on 1.)Giving the poor enough money not to riot and 2.)Giving the rich enough money not to leave. The problem is that the pot of money in the middle that finances these giveaways is starting to show it’s bottom. My greatest fear for the US economy is not providing jobs but, rather, that every family that makes less than $35K will suddenly just quit their jobs so they can have more disposable income, more leisure time, and a better quality of life (until it all comes crashing down, that is).
Say bye bye to encryption.
Push is now on again against Apple and others linking their encryption to this terrorist attack in Paris.
Hillary blame Bush tonight.
Saudis Arabia count not even bribe Pakistan to send troops to Yemen. Bernie is a fool to think they will press their own people into military service and boots on the ground to fight.
http://www.counterpunch.org/2015/11/13/the-great-dance-pakistan-saudi-arabia-and-the-yemen-question/
“Could not” dam spell check. Now Hillary wants middle east states to have boots on the ground In this war against radical Islamists. Decades of war….Our kids are screwed…
sigh Now we want more refugees, go ask The president of France how he feels now about refugees.
[47] pumps
Nowhere did I read that Hanauer is paying his people more. Or eschewing tax-favored investments.
Talking and walking are two different things
[54] pumpkin,
I’m not worried about sub-35k jobs going unfilled. There’s going to be a surfeit of reserve labor for that cohort.
Why do you think soc1@lism is getting such traction? Because everyone sees it coming.
So stultifyingly dull when Pumpty hijacks a thread with his special brand of knee-jerk progressivism…
Ban encryption and only criminals will have encryption….
[63] :-0
You can have my encryption when you pry it from my cold dead SSD.
Ban encryption and only criminals will have encryption….
White collar jobs are starting to put against 3rd world jobs. Who do you think will win? The companies. Salaries in the US is too high according to the Right.
“I’m not worried about sub-35k jobs going unfilled. There’s going to be a surfeit of reserve labor for that cohort.”
[C]lose to 2,000 French citizens have been fighting with Isis (or Islamic State, as they are also known. This constitutes one third of Europeans within Isis.
“In some countries it has become more difficult to travel to Syria, in France, however, it (travel) has been accelerating,” he said.
“There have been 17 publicly revealed attacks or foiled attacks in France since the war began in Syria – including the Charlie Hebdo and kosher supermarket attacks in Paris. They’ve been coming in a fast and furious fashion – on a scale that even the best security service can’t counter.”
http://www.thelocal.fr/20151114/terror-expert-paris-attacks-arent-a-one-off-france-terrorism
Battle for Iraq and Syria in maps
http://www.bbc.com/news/world-middle-east-27838034
Ban Playstation 4
“Belgian federal home affairs minister Jan Jambon said outright that the PS4 is by used ISIS agents to communicate, and was selected due to the fact that it’s notoriously hard to monitor. “PlayStation 4 is even more difficult to keep track of than WhatsApp,” he said.”
http://www.forbes.com/sites/insertcoin/2015/11/14/why-the-paris-isis-terrorists-used-ps4-to-plan-attacks/
[62] splat
What’s so infuriating is the schizoid nature of his progressivism.
But then, I suppose it’s better than being a flat-out hypocrite, spouting progressivism yet engaging in naked capitalism and aggressive tax avoidance.
If there is one ‘winner’ from last night’s terrible events in Paris, it is France’s anti-EU, anti-immigration far-right wing Front Nationale party leader Marine Le Pen. Having already ascended to the lead in yet another poll ahead of France’s 2017 elections, Le Pen came out swinging this morning call for France to “re-arm itself,” stating that radical Islam must be “eradicated” from France. She further demanded that border controls be made “permanent” and binational Islamists must be depreived of their French passport.
http://www.zerohedge.com/news/2015-11-14/frances-far-right-party-calls-nation-re-arm-itself-revoke-muslims-passports-eradicat
[70] dfens
Precisely what I was thinking
@Harpers:
Amount that Carly Fiorina’s tenure as CEO of Hewlett-Packard cost the company’s shareholders: $55,200,000,000
(Nov ’15) #HarpersIndex
these events open the door to dark, evil forces.
see Dick Cheney, Donald Rumsfeld, and Paul Wolfowitz post 9/11
D-FENS says:
November 15, 2015 at 12:16 pm
If there is one ‘winner’ from last night’s terrible events in Paris, it is France’s anti-EU, anti-immigration far-right wing Front Nationale party leader
Fight the war now, or fight the war later. It’ll be a lot cheaper now.
ISIS makes me laugh. Reminds me of “Wonder Woman’ (her god – “almighty ISIS”).
Yeah, I had crush on Lynda Carter (Who didn’t?).
In case yous forgot: https://www.youtube.com/watch?v=3ZCbF_eOTw4
India’s pretty dirt poor. I don’t recall too many Indian’s that were non-muslim taking many innocent lives.
#72
Idiot, sadly the tally of Hillary’s ineptitude is measured in human deaths. That number is climbing everyday.
#70, 72
If you want to look at it that way we’re all winners. It was only a few weeks ago the jerk who bought the revel was suggesting to put up a few thousand terrorists there in order to bail himself out.
The door will be slammed shut on any of that nonsense and hopefully any other bleeding heart relocation plans. We have our own problems to deal with, we can’t take on the rest of the world’s.
Sweet blog! I found it while searching on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Thanks
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