Thread: American Capitalism is unethical
02-08-2022, 02:26 PM
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#151
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Originally Posted By BigBallsMcgee⏩
you are miserable I'll give you that.Ah so not being homeless or starving is some high standard?
Oh and Netflix!
Oh and Netflix!
This was pre-netflix. when they first started I couldn't afford a dvd player to bother getting dvds in the mail.
Didn't even have a tv for like four years till I found a working one someone was throwing out
02-08-2022, 02:31 PM
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#152
02-08-2022, 02:35 PM
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#153
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Originally Posted By MikeLowrrrey⏩
It means a lot considering it’s the system that put you at top 1%. Would you rather be in the bottom 90% worldwide?Top 1% wealth worldwide doesn't mean anything unless you plan on commuting from Thailand.
02-08-2022, 02:37 PM
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#154
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Originally Posted By BigBallsMcgee⏩
So you think UK is that much better than Murica? I mean lol, ok, if you’re going with that argument.Topic clearly says American capitalism, how is UK relevant
And those would be more policies (health and educational) rather than differences in capitalism.
02-08-2022, 02:39 PM
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#155
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Originally Posted By plsmire⏩
What's the point of being 1% wealth worldwide if you can't afford anything in the U.S. though? Highschool kids working at McDonald's aren't looked at as these very successful people because they are 1% worldwide wealth.It means a lot considering it’s the system that put you at top 1%. Would you rather be in the bottom 90% worldwide?
Now if I lived outside of the U.S. in say Thailand or Mexico while earning American income, then you'd have a point.
02-08-2022, 02:40 PM
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#156
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Originally Posted By MikeLowrrrey⏩
Who the heck on middle class income can’t afford a home and car provided you’ve put the work in, built good credit, have deposit money aside?It's a simple question. If you could only afford a $1000 smartphone would you be happy and satisfied with life? Affording a $1000 smartphone puts you in the 1% wealth worldwide.
I didn't know not being able to afford a basic home and basic car are things I shouldn't focus on.
I didn't know not being able to afford a basic home and basic car are things I shouldn't focus on.
Seriously, only very lazy or very dumb or people who made very short sighted decisions are in this position.
Weird as fk.
02-08-2022, 02:42 PM
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#157
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Originally Posted By plsmire⏩
If greedy corporations keeping buying Middle Class homes for over $50k asking price, no one.Who the heck on middle class income can’t afford a home and car provided you’ve put the work in, built good credit, have deposit money aside?
Seriously, only very lazy or very dumb or people who made very short sighted decisions are in this position.
Weird as fk.
Seriously, only very lazy or very dumb or people who made very short sighted decisions are in this position.
Weird as fk.
02-08-2022, 02:42 PM
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#158
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Originally Posted By MikeLowrrrey⏩
Who’s talking about highschool kids? Highschool kids aren’t s supposed to be buying cars and having families.What's the point of being 1% wealth worldwide if you can't afford anything in the U.S. though? Highschool kids working at McDonald's aren't looked at as these very successful people because they are 1% worldwide wealth.
Now if I lived outside of the U.S. in say Thailand or Mexico while earning American income, then you'd have a point.
Now if I lived outside of the U.S. in say Thailand or Mexico while earning American income, then you'd have a point.
Now if you’re 30+ and still working McDonald’s then you have other issues to sort out.
You have a serious crybaby attitude. What is your job and how much do you earn and what makes you think that you deserve more than what you currently have?
For 99% of the cases, everyone gets what they deserve in capitalism. 1% are outliers, old money, bad/good luck.
02-08-2022, 02:47 PM
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#159
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Originally Posted By MikeLowrrrey⏩
“IF”?If greedy corporations keeping buying Middle Class homes for over $50k asking price, no one.
I mean again I don’t know the US but I’d imagine UK is very similar.
Houses are £300k+. I need 10% deposit so £30k.
Provided I have a stable job earning £25k+ per year, I can get a mortgage on that. £30k isn’t hard to save either. And let’s face it, at 30+, you should be at £35k+ minimum.
As for car, jeez, you can get a decent second hand car for £2k, plenty enough to get you around and still look respectable. You act like the west middle class are living like slaves. We’re living very privilege lives.
You work 40hrs a week, spend another 20 a week hustling online, freelance, website etc. Earn and save a decent £10k per year.
And this is the bare minimum.
Only ones I see struggling are those who live way above their means. In which case the things your complaining about is your inability to partake in the excessive consumerism culture which ironically enough, is created and encouraged by capitalism.
02-08-2022, 02:48 PM
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#160
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Originally Posted By MikeLowrrrey⏩
I can't afford a $1000 phone, which is why I got a $200 Motorola instead of an Apple. I can't afford a brand new car, which is why mine is 6 years old. I can't afford an average house, which is why I rent a cheap ass apartment. I make all of these choices now so I can afford the chit I want later when my salary and savings does allow that. Most the retards who blame "the system" and have spent all their money on Nikes, iPhones, their baby momma's child support, smokes and booze could live easily if they ran their lives with some sort of plan. There is nothing about capitalism in the USA that denies anybody anything. The things people cry about are usually due to chit decisions in life and lack of priorities.It's a simple question. If you could only afford a $1000 smartphone would you be happy and satisfied with life? Affording a $1000 smartphone puts you in the 1% wealth worldwide.
I didn't know not being able to afford a basic home and basic car are things I shouldn't focus on.
I didn't know not being able to afford a basic home and basic car are things I shouldn't focus on.
Can't afford transportation? Yes you can. Legs. Bike. Bus.
Can't afford a home? Yes you can. Rent a room.
Can't afford school? High school is free-thats bullchit.
Can't make money? Go work in a warehouse and easily make $50-100k a year.
Virtue is its own reward.
02-08-2022, 02:53 PM
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#161
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Originally Posted By Johnez⏩
This. The people whining are driven by what they don’t have, they want to partake in the over-consumerism culture driven by capitalism that they claim to hate. It’s a weird paradox.I can't afford a $1000 phone, which is why I got a $200 Motorola instead of an Apple. I can't afford a brand new car, which is why mine is 6 years old. I can't afford an average house, which is why I rent a cheap ass apartment. I make all of these choices now so I can afford the chit I want later when my salary and savings does allow that. Most the retards who blame "the system" and have spent all their money on Nikes, iPhones, their baby momma's child support, smokes and booze could live easily if they ran their lives with some sort of plan. There is nothing about capitalism in the USA that denies anybody anything. The things people cry about are usually due to chit decisions in life and lack of priorities.
Can't afford transportation? Yes you can. Legs. Bike. Bus.
Can't afford a home? Yes you can. Rent a room.
Can't afford school? High school is free-thats bullchit.
Can't make money? Go work in a warehouse and easily make $50-100k a year.
Can't afford transportation? Yes you can. Legs. Bike. Bus.
Can't afford a home? Yes you can. Rent a room.
Can't afford school? High school is free-thats bullchit.
Can't make money? Go work in a warehouse and easily make $50-100k a year.
Just quit spending so much.
You know the society is thriving when everyone is given equal opportunity to be able to hit all of Maslow hierarchy of needs. Capitalist system allows everyone to touch the top of the pyramid. In most countries, you’re barely trying to get past the first 2 bottom layers on that pyramid.

02-08-2022, 02:55 PM
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#162
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Originally Posted By Johnez⏩
I can't afford a $1000 phone, which is why I got a $200 Motorola instead of an Apple. I can't afford a brand new car, which is why mine is 6 years old. I can't afford an average house, which is why I rent a cheap ass apartment. I make all of these choices now so I can afford the chit I want later when my salary and savings does allow that. Most the retards who blame "the system" and have spent all their money on Nikes, iPhones, their baby momma's child support, smokes and booze could live easily if they ran their lives with some sort of plan. There is nothing about capitalism in the USA that denies anybody anything. The things people cry about are usually due to chit decisions in life and lack of priorities.
Can't afford transportation? Yes you can. Legs. Bike. Bus.
Can't afford a home? Yes you can. Rent a room.
Can't afford school? High school is free-thats bullchit.
Can't make money? Go work in a warehouse and easily make $50-100k a year.
Can't afford transportation? Yes you can. Legs. Bike. Bus.
Can't afford a home? Yes you can. Rent a room.
Can't afford school? High school is free-thats bullchit.
Can't make money? Go work in a warehouse and easily make $50-100k a year.
Originally Posted By plsmire⏩
Well I must say your posts do make sense. Good sound advice when I really think about it, will keep it all in mind.This. The people whining are driven by what they don’t have, they want to partake in the over-consumerism culture driven by capitalism that they claim to hate. It’s a weird paradox.
Just quit spending so much.
You know the society is thriving when everyone is given equal opportunity to be able to hit all of Maslow hierarchy of needs. Capitalist system allows everyone to touch the top of the pyramid. In most countries, you’re barely trying to get past the first 2 bottom layers on that pyramid.
Just quit spending so much.
You know the society is thriving when everyone is given equal opportunity to be able to hit all of Maslow hierarchy of needs. Capitalist system allows everyone to touch the top of the pyramid. In most countries, you’re barely trying to get past the first 2 bottom layers on that pyramid.
02-08-2022, 03:03 PM
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#163
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Originally Posted By MikeLowrrrey⏩
lol you’re either trolling or this is the first time in misc (or any forum) anyone was ever convinced by a capitalism vs other debate.Well I must say your posts do make sense. Good sound advice when I really think about it, will keep it all in mind.
02-08-2022, 03:36 PM
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#164
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Originally Posted By MikeLowrrrey⏩
Go look up Mark Bell's podcast, I forget what it is called, but he recently had Travis Ortmayer on who went from being #5 at World's Strongest Man to being addicted to painkillers and then opioids, losing his family, losing his house, etc to building himself back up to being invited back to WSM last year after a ten year absence. He focuses on gratitudeWell I must say your posts do make sense. Good sound advice when I really think about it, will keep it all in mind.
02-08-2022, 05:12 PM
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#165
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Originally Posted By lockdev⏩
This.Capitalism in itself is not bad at all OP.
You're referring to crony capitalism or corruption.
The government should be there to prevent monopolies and enforce fair competition.
Unfortunately the government doesn't know how to not grow, so you end up with corruption and cronyism. Case in point: CVS. They legit own one of the largest insurance companies on the planet, force you to use their pharmacies, and set the prices. Government corruption explicitly allows their monopoly. srs:https://ilsr.org/fighting-monopoly-power/pharmacy/
TL;DR The government fooks everything up. srs.
You're referring to crony capitalism or corruption.
The government should be there to prevent monopolies and enforce fair competition.
Unfortunately the government doesn't know how to not grow, so you end up with corruption and cronyism. Case in point: CVS. They legit own one of the largest insurance companies on the planet, force you to use their pharmacies, and set the prices. Government corruption explicitly allows their monopoly. srs:https://ilsr.org/fighting-monopoly-power/pharmacy/
TL;DR The government fooks everything up. srs.
So people blame capitalism when it's really the one's corrupting the system and then switch to socialism and those who corrupted the capitalist system, guess what they do? In fact, it makes it even easier to corrupt because the government controls everything
02-08-2022, 06:37 PM
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#166
Originally Posted By lockdev⏩
^^^Capitalism in itself is not bad at all OP.
You're referring to crony capitalism or corruption.
The government should be there to prevent monopolies and enforce fair competition.
Unfortunately the government doesn't know how to not grow, so you end up with corruption and cronyism. Case in point: CVS. They legit own one of the largest insurance companies on the planet, force you to use their pharmacies, and set the prices. Government corruption explicitly allows their monopoly. srs:https://ilsr.org/fighting-monopoly-power/pharmacy/
TL;DR The government fooks everything up. srs.
You're referring to crony capitalism or corruption.
The government should be there to prevent monopolies and enforce fair competition.
Unfortunately the government doesn't know how to not grow, so you end up with corruption and cronyism. Case in point: CVS. They legit own one of the largest insurance companies on the planet, force you to use their pharmacies, and set the prices. Government corruption explicitly allows their monopoly. srs:https://ilsr.org/fighting-monopoly-power/pharmacy/
TL;DR The government fooks everything up. srs.
This. All day long.
AFAIK the EU is less broken than the US at this point; e.g. they have cheaper cell phone plans, internet plans, airline flights, etc. because there is more competition there. Here our government allows monopolies and cartels to take over.
Originally Posted By NewO35⏩
One would think, yes. I was one of the people sending e-mails, faxes, etc. protesting the bailout.Get rid of lobbying and campaign funding, and you have a LARGE PART of your solution. BRB more winners based on fair competition, less rigged DC and bonus also Wall Street. LOL at bailing out in 2008-09 and calling yourselves capitalists still.
You still probably have to raise taxes some just for maintenance and population growth, the way things are going.
You still probably have to raise taxes some just for maintenance and population growth, the way things are going.
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02-08-2022, 06:38 PM
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#167
Originally Posted By TheGattingBall⏩
Also a factor. Printing cash from nothing and loading up the big boys at the top with it who get more "juice" from said money by virtue of being the first movers. Google Cantillon Effect.ITT a bunch of commie *******sblame capitalism for the issues caused by a central organisation having direct control over the money supply. A money supply which is backed by nothing btw.
Originally Posted By davik⏩
A really big deal...saw an interview that might become a thread.wrong. demographic winter is the problem
Originally Posted By BigBallsMcgee⏩
Because then we would have to feel bad about people sleeping on the street? Or living in their cars? People with jobs.Its reality. We just want pretend everyone is actually equal with equal potential to succeed?
Why can't we be honest
Why can't we be honest
Originally Posted By BigBallsMcgee⏩
IMO you get what you can. And that's fine. All I argue for is that if you play by the rules and do your best you should be able to pay half rent on a 2 bedroom apartment, drive an okay used car, eat a balanced diet, get medical care...you know have an alright life vs. not being able to do those things because wages are too low relative to expenses.Communism sucks I've never said otherwise.
Its unethical when your economic system punishes people who simply drew a bad hand so much.
The American myth is you get what you deserve but thats not true. Unless you want to say someone born more talented than others desrves it.
Its unethical when your economic system punishes people who simply drew a bad hand so much.
The American myth is you get what you deserve but thats not true. Unless you want to say someone born more talented than others desrves it.
Maybe you are making it fine. And maybe you always will. But you just can't know for certain that you or someone you know or are responsible for won't suffer a major setback or multiple minor ones.
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02-08-2022, 07:28 PM
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#168
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Originally Posted By BigBallsMcgee⏩
So let's hear your excuse for not living the life you want.An outlier doesn't mean chit.
02-08-2022, 11:09 PM
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#169
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Originally Posted By katya422⏩
Generally not for bailouts but is the issue that simple?One would think, yes. I was one of the people sending e-mails, faxes, etc. protesting the bailout.
Wasnt space X partially bailed out/subsidies?
Also if the gov is bailing out a bank, what happens if they don’t? Let’s say 4 major banks collapse, what happens to the peoples money tied into it and what does it do to the economy?
Maybe bailout is the answer but not just freely give everyone a pass. No bank bonuses, salary reductions, jail time for those complicit in the blatantly poor management that led to the bankruptcy. Amazing how avoiding some tax will land you in prison but banks committing fraud in the $B and no repercussions.
02-08-2022, 11:19 PM
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#170
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Originally Posted By katya422⏩
IMO it is still a “you get what you deserve”. Someone being born more talented than you and getting more than you doesn’t invalidate that. If I’m born 4’0 and a deformed face, do I really “deserve” a supermodel? Sure would be nice but hey, I’d like to be the world heavyweight champ but it’s not gonna happen.IMO you get what you can. And that's fine. All I argue for is that if you play by the rules and do your best you should be able to pay half rent on a 2 bedroom apartment, drive an okay used car, eat a balanced diet, get medical care...you know have an alright life vs. not being able to do those things because wages are too low relative to expenses.
Maybe you are making it fine. And maybe you always will. But you just can't know for certain that you or someone you know or are responsible for won't suffer a major setback or multiple minor ones.
Maybe you are making it fine. And maybe you always will. But you just can't know for certain that you or someone you know or are responsible for won't suffer a major setback or multiple minor ones.
People born with more talent use those talents to provide service and entertainment, the market is paying them, you who can’t entertain the public in the same way does not deserve to get paid as much as them. Life is not fair.
Even inherited money. I guess excluding old, old money, but let’s say money in the last 50 years. I see kids as a replication of yourself, so when you’re working and building your wealth, you’re not just working for yourself, you’re also working for your future self (kids). If you have druggy parents, we’ll your past self just made bad decisions, time to correct that and leave an easier time for your future self.
Income mobility and generational income mobility is better under capitalism than any other system.
02-09-2022, 06:26 AM
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#171
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Originally Posted By Dave22reborn⏩
I wasn't born with innate potential necessary to do the things I wanted in life. I guess that's somehow my fault for not being born the right waySo let's hear your excuse for not living the life you want.
02-09-2022, 10:16 AM
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#172
Man its so awkward working with this Jewish guy that just sits around beside me while I do all the work
How is this even possible? They don't assign him anything he just sits there doing nothing all day for at least 6 years now
How is this even possible? They don't assign him anything he just sits there doing nothing all day for at least 6 years now
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02-09-2022, 11:19 AM
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#173
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Originally Posted By IsLifeRealLife⏩
This, the only thing better is a benevolent dictatorship and that only lasts as long as the benevolent dictator in which case it can go badly very quickly.Capitalism is good at the beginning of developing a nation as resources are abundant but when we get to the end stage of capitalism it really sucks as housing & wealth is concentrated on people who got in early.
This is coming from someone who used to see capitalism as a great tool in advancing technology as it fosters competition. But I'm finally opening my eyes to the inequality of end stage capitalism. And I'm not sure how you can really fix it.
This is coming from someone who used to see capitalism as a great tool in advancing technology as it fosters competition. But I'm finally opening my eyes to the inequality of end stage capitalism. And I'm not sure how you can really fix it.
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02-09-2022, 11:22 AM
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#174
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Originally Posted By BigBallsMcgee⏩
So you were born without a strong work ethic, or a drive to succeed?I wasn't born with innate potential necessary to do the things I wanted in life. I guess that's somehow my fault for not being born the right way
02-09-2022, 11:28 AM
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#175
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Originally Posted By BigBallsMcgee⏩
Cry me a river. My family immigrated here from Europe and I ended up at one of the top ranked business schools in the country.I wasn't born with innate potential necessary to do the things I wanted in life. I guess that's somehow my fault for not being born the right way
Who you were when you were born isn’t the problem, it’s who you became.
Nothing in history has worked better than American capitalism. That’s why we have seen the majority of technological innovations come out of 1 country.
02-09-2022, 11:44 AM
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#176
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Originally Posted By BigBallsMcgee⏩
So you want to be an engineer or politician despite not having the ability to do so.I wasn't born with innate potential necessary to do the things I wanted in life. I guess that's somehow my fault for not being born the right way
You need to be served a humble pie and understand how life works.
EDIT:"BLM crew, Nigerian crew".
Ah yes, this is the problem when you've been indoctrinated in victim mentality by your entire culture for decades, and believe things are owed to you.
Let me tell you the reality boyo.
You only deserve what you are genetically made for, and willing to put in the work for.
And you should be proud to do that activity, no matter what it is. That's the source of joy in life, not envy.
Finding your "niche" and place in society, no matter how high or low, is what gives purpose to life.
02-09-2022, 10:03 PM
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#177
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Originally Posted By BigBallsMcgee⏩
Things you can't control like what? I'll use wife as my next example. Raised by a single mother, raised in the ghetto, spent a good portion of her childhood living in shelters. As soon as she could, she got her first job, worked her ass off full time while going to school, got a degree, got a job, got a second degree while working that job, got a better job, continued to work her ass off, and eventually made it into a comfortable upper middle class life.There will always be losers, but if you have a system in which losers are largely determined by things they can't control, you have to account for that.
I think America looks down on the less successful unjustifiably
I think America looks down on the less successful unjustifiably
Now she has cousins who were not raised by single mothers, whose parents were middle class, who got everything they wanted from their parents, and one of them, a man is a felon and working at uHaul, while the other, a woman can't keep a steady job, both have no education, both have nothing to their names.
95% of time time, if you can't make it, it's your fault and yours only. Stop blaming everyone else, or expecting anyone to come save you.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
02-09-2022, 10:07 PM
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02-09-2022, 10:14 PM
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Originally Posted By ymer⏩
Well you're wrong, jaydog is Indian.I have avis turned off but I can tell BigBallsMcGee, WestAfrica and Jaydawg are black because they always support the dumbest chit, act like victims and their reasoning is childlike.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
02-09-2022, 10:54 PM
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#180
ITT: people who still believe every child has the potential to grow up to be President
It isn't "whining" to acknowledge that we don't all get the same hand dealt. And I despise the current "victim Olympics".
The current corrupt system [crony capitalism if you will] is a problem. It is a problem for systemic collapse reasons, not for "lazy bums just don't wanna work hard" reasons. If you aren't in the top 1% you have been getting shafted to some degree.

What *could* have happened is that the government could have taken ownership of the institutions in question or alternately could have done a bail out of the institutions + firing/prosecuting the worst of their leadership + broken them up in to smaller institutions.
What should never never have happened was to leave institutions intact which are "too big to fail", which is essentially saying that a for profit enterprise has a built in backstop from the American taxpayers. If a function is that essential it should be a government enterprise, a public utility, or there should be a large enough market of private providers that the failure of a single provider will not destroy the economy.
So what did our rotten to the core government do? We made those same banks even bigger than they were before.
I'm not anti-capitalist. I just don't believe that unregulated capitalism is a stable economic model because without regulation players will cheat and rig the game.
I prefer to say you get what you can because that is how it really works. One can be talented, hard working, socially connected, fortunate...or the opposite of all those things.
Success doesn't necessarily come from merit- talent and/or hard work.
Someone can be a lazy average person with good social connections and do very well.
Another person could be talented and hard working, but never get that "big break" and so live out their days as a starving artist.
Like it or no there are decent people who are trying their best and may have done the right thing their entire lives who are getting pushed out on to the streets. I saw a report recently that half of the homeless in CA are over 50. Saw a different piece on how the middle class is getting squeezed out by increasing prices and stagnant wages.
It isn't "whining" to acknowledge that we don't all get the same hand dealt. And I despise the current "victim Olympics".
The current corrupt system [crony capitalism if you will] is a problem. It is a problem for systemic collapse reasons, not for "lazy bums just don't wanna work hard" reasons. If you aren't in the top 1% you have been getting shafted to some degree.

On average, extreme inequality is costing the median income full-time worker about $42,000 a year. Adjusted for inflation using the CPI, the numbers are even worse: half of all full-time workers (those at or below the median income of $50,000 a year) now earn less than half what they would have had incomes across the distribution continued to keep pace with economic growth. And that’s per worker, not per household. At both the 25th and 50th percentiles, households comprised of a married couple with one full-time worker earned thousands of dollars less in 2018 dollars than a comparable household in 1975—and $50,000 and $66,000 less respectively than if inequality had held constant—a predicament compounded by the rising costs of maintaining a dignified middle-class life.
This dramatic redistribution of income from the majority of workers to those at the very top is so complete that even at the 95th percentile, most workers are still earning less than they would have had inequality held constant. It is only at the 99th percentile that we see incomes growing faster than economic growth: at 171 percent of the rate of per capita GDP. But even this understates the disparity. “The average income growth for the top one percent was substantially higher,” write Price and Edwards, “at more than 300 percent of the real per capita GDP rate.” The higher your income, the larger your percentage gains. As a result, the top 1 percent’s share of total taxable income has more than doubled, from 9 percent in 1975, to 22 percent in 2018, while the bottom 90 percent have seen their income share fall, from 67 percent to 50 percent. This represents a direct transfer of income—and over time, wealth—from the vast majority of working Americans to a handful at the very top.
https://time.com/5888024/50-trillion...ality-america/This dramatic redistribution of income from the majority of workers to those at the very top is so complete that even at the 95th percentile, most workers are still earning less than they would have had inequality held constant. It is only at the 99th percentile that we see incomes growing faster than economic growth: at 171 percent of the rate of per capita GDP. But even this understates the disparity. “The average income growth for the top one percent was substantially higher,” write Price and Edwards, “at more than 300 percent of the real per capita GDP rate.” The higher your income, the larger your percentage gains. As a result, the top 1 percent’s share of total taxable income has more than doubled, from 9 percent in 1975, to 22 percent in 2018, while the bottom 90 percent have seen their income share fall, from 67 percent to 50 percent. This represents a direct transfer of income—and over time, wealth—from the vast majority of working Americans to a handful at the very top.
Originally Posted By plsmire⏩
I was specifically referring to the 07-08 crisis. Financial institutions did very stupid risky things and should have [IMO] been smashed to bits with the worst actors facing civil and criminal trials.Generally not for bailouts but is the issue that simple?
Also if the gov is bailing out a bank, what happens if they don’t? Let’s say 4 major banks collapse, what happens to the peoples money tied into it and what does it do to the economy?
Also if the gov is bailing out a bank, what happens if they don’t? Let’s say 4 major banks collapse, what happens to the peoples money tied into it and what does it do to the economy?
What *could* have happened is that the government could have taken ownership of the institutions in question or alternately could have done a bail out of the institutions + firing/prosecuting the worst of their leadership + broken them up in to smaller institutions.
What should never never have happened was to leave institutions intact which are "too big to fail", which is essentially saying that a for profit enterprise has a built in backstop from the American taxpayers. If a function is that essential it should be a government enterprise, a public utility, or there should be a large enough market of private providers that the failure of a single provider will not destroy the economy.
So what did our rotten to the core government do? We made those same banks even bigger than they were before.
Originally Posted By plsmire⏩
You are correct. Life is not fair.IMO it is still a “you get what you deserve”.
Someone being born more talented than you and getting more than you doesn’t invalidate that. If I’m born 4’0 and a deformed face, do I really “deserve” a supermodel? Sure would be nice but hey, I’d like to be the world heavyweight champ but it’s not gonna happen.
People born with more talent use those talents to provide service and entertainment, the market is paying them, you who can’t entertain the public in the same way does not deserve to get paid as much as them. Life is not fair.
Income mobility and generational income mobility is better under capitalism than any other system.
Someone being born more talented than you and getting more than you doesn’t invalidate that. If I’m born 4’0 and a deformed face, do I really “deserve” a supermodel? Sure would be nice but hey, I’d like to be the world heavyweight champ but it’s not gonna happen.
People born with more talent use those talents to provide service and entertainment, the market is paying them, you who can’t entertain the public in the same way does not deserve to get paid as much as them. Life is not fair.
Income mobility and generational income mobility is better under capitalism than any other system.
I'm not anti-capitalist. I just don't believe that unregulated capitalism is a stable economic model because without regulation players will cheat and rig the game.
I prefer to say you get what you can because that is how it really works. One can be talented, hard working, socially connected, fortunate...or the opposite of all those things.
Success doesn't necessarily come from merit- talent and/or hard work.
Someone can be a lazy average person with good social connections and do very well.
Another person could be talented and hard working, but never get that "big break" and so live out their days as a starving artist.
Like it or no there are decent people who are trying their best and may have done the right thing their entire lives who are getting pushed out on to the streets. I saw a report recently that half of the homeless in CA are over 50. Saw a different piece on how the middle class is getting squeezed out by increasing prices and stagnant wages.
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