What exactly went wrong in the economy ?

The Something Awful Forums > Archives > General Bullshit > What exactly went wrong in the economy ?

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Horseshoe theory: Mar 7, 2005

I pulled the wrong lever - sorry. :saddowns:

# ? Dec 13, 2014 19:34

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# ? Apr 28, 2024 18:12

Accretionist: Nov 7, 2012; I BELIEVE IN STUPID CONSPIRACY THEORIES

ArbitraryC posted:

Has anyone made a good breakdown of what % of poor people's income goes to taxes compared to what % of rich people's income does? It's obvious stuff like sin taxes are going to have a much bigger effect on the poor than the wealthy but I dunno to what extent that's been quantified.

This report might have you covered: PDF

I've only ever looked at the pages on individual states.

Sample page:

Sephiroth_IRA posted:

The truth is most Americans are racist and think they're too good to live in poor black neighborhoods/trailer parks even though they have poor to lower middle class incomes.

This is basically what Elizabeth Warren says in her book, "The Two Income Trap".

In-unit washer/dryer with low rent.

My secret: Only white guy in the building.

Accretionist fucked around with this message at 23:16 on Dec 13, 2014

# ? Dec 13, 2014 23:01

Sephiroth_IRA: Mar 31, 2010

ThirdPartyView posted:

I pulled the wrong lever - sorry.

# ? Dec 13, 2014 23:18

Top City Homo: Oct 15, 2014; Ramrod XTreme

TEAYCHES posted:

just like........ real life... fffcucucccuck

i once made 4000 dollars from bitcoin arbitrage

from an "investment (forgotten drug money)" of 100 dollars during the huge pump of mtgox days

# ? Dec 13, 2014 23:23

Freestyle: Sep 2, 2014; by R. Guyovich

Holy poo poo!

This is basically the definitive reagan.jpg

They should make this into a 10 foot by 6 foot poster and pin it up in every classroom, employee lounge, church hall and government office in the country. Maybe every living room too, just to be safe.

# ? Dec 14, 2014 00:46

The Taint Reaper: Sep 4, 2012; by Shine

The Opposite of War isn't peace....

it's loving.

# ? Dec 14, 2014 00:50

sexy young infidel: Nov 13, 2014; Faggot of the Year
2012, 2014

Freestyle posted:

Holy poo poo!

This is basically the definitive reagan.jpg

They should make this into a 10 foot by 6 foot poster and pin it up in every classroom, employee lounge, church hall and government office in the country. Maybe every living room too, just to be safe.

Its actually government corruption that you see in the chart there. Soon it will happen again because of maybe nobody pays their student loans, or whatever, and all the money will get sucked away into a special vat

# ? Dec 14, 2014 01:01

Top City Homo: Oct 15, 2014; Ramrod XTreme

sexy young infidel posted:

Its actually government corruption that you see in the chart there. Soon it will happen again because of maybe nobody pays their student loans, or whatever, and all the money will get sucked away into a special vat

the funny thing is it took a giant genocidal world war to correct the excesses of unbridled rich favoring kleptrocracy and that only lasted for 30 years before it went back to normal

lol

# ? Dec 14, 2014 01:09

Sephiroth_IRA: Mar 31, 2010

Accretionist posted:

In-unit washer/dryer with low rent.

My secret: Only white guy in the building.

My neighborhood has access the best schools in the state, 0 crime and most of the homes here are McMansions but there's a little area with about 20 small homes. Mostly elderly but there are probably 5 black families. My mortgage is $250.

# ? Dec 14, 2014 01:15

Accretionist: Nov 7, 2012; I BELIEVE IN STUPID CONSPIRACY THEORIES

Sephiroth_IRA posted:

... 0 crime ... mortgage is $250.

# ? Dec 14, 2014 01:44

Moridin920: Nov 15, 2007; by FactsAreUseless

Sephiroth_IRA posted:

My neighborhood has access the best schools in the state, 0 crime and most of the homes here are McMansions but there's a little area with about 20 small homes. Mostly elderly but there are probably 5 black families. My mortgage is $250.

But that probably means you live in buttfuck nowhere like Montana and who wants that?

Can't even rent a room in San Diego for less than $400-500

# ? Dec 14, 2014 01:46

Clawtopsy: Dec 17, 2009; What a fascinatingly unusual cock. Now, allow me to show you my collection...

The Taint Reaper posted:

The Opposite of War isn't peace....

it's loving.

Saga is really good.

# ? Dec 14, 2014 02:12

Sephiroth_IRA: Mar 31, 2010

Moridin920 posted:

But that probably means you live in buttfuck nowhere like Montana and who wants that?

Nope, I work in the biggest city in my state.

# ? Dec 14, 2014 02:56

juggalo baby coffin: Dec 2, 2007; How would the dog wear goggles and even more than that, who makes the goggles?

people sold liability like it was securities and they cut it up and repackaged it so basically like normally a bank would have a house to foreclose on if someone defaulted on their mortgage, but cause they sold that liability it wound up that whole shitload of banks each owned like 1/100th of a house to foreclose on. but then they cut that up even more and repackaged it with other poo poo, and nobody really bothered to keep track of which house went with what liability so basically suddenly everyone realised they had no loving idea how to get the money back from the lovely high risk loans they sold to poor people so poo poo got real

edit: also we live in a consumer economy, which depends on people buying poo poo to be able to grow. now a rich guy might earn 1000x what a poor guy does, but they arent gonna be buying 1000x more pairs of shoes or tubes of toothpaste. they might spend 1000x what a poor person does, but on like a house or a plane or w/e which doesnt have the same broad economic boosting power that like regular people buying lots of regular stuff does, its just gonna benefit like that one plane company. poorer people are the biggest consumer base but if they have no money they are not gonna buy enough for economic growth. what they do buy, poo poo like food and whatnot, is already heavily government subsidised on the farming end so buying bread really does jack poo poo for the economy overall.

if they wanted to boost the economy theyd pay poorer people more, so they could buy more, so the economy could grow. when money is spent it is spent multiple times, a person buys bread from the shop, then that money is used by the shop to pay a supplier, then that supplier uses that money to pay a farmer, etc etc. the same money is spent multiple times, its called the multiplier effect. now a whole shitton of money sitting in an offshore bank account is not being spent multiple times, it is only spent once. trickle down economics would only work if rich people literally did buy 1000x as much of everything as poor people do. but they dont.

edit edit: the us car industry is a microcosm of this effect. the car industry had grown to a size that depended on people replacing their car every 2 or 3 years, ie more frequently than they really needed to. as soon as people could no longer afford to buy cars at that rate the car industry collapsed because now suddenly people were just keeping their same old car for a long rear end time. the entire economy works like this. the poorer people get the more it will shrink because it depends on consumption to grow. the irony of it is that if rich people stopped loving over poor people so much the rich people would become richer from those poor people spending that money, and it ending up back in the pockets of ceos with the added effect of supporting their business

juggalo baby coffin fucked around with this message at 03:39 on Dec 14, 2014

# ? Dec 14, 2014 03:29

naem: May 29, 2011

FirstPersonShitter posted:

people sold liability like it was securities and they cut it up and repackaged it so basically like normally a bank would have a house to foreclose on if someone defaulted on their mortgage, but cause they sold that liability it wound up that whole shitload of banks each owned like 1/100th of a house to foreclose on. but then they cut that up even more and repackaged it with other poo poo, and nobody really bothered to keep track of which house went with what liability so basically suddenly everyone realised they had no loving idea how to get the money back from the lovely high risk loans they sold to poor people so poo poo got real

edit: also we live in a consumer economy, which depends on people buying poo poo to be able to grow. now a rich guy might earn 1000x what a poor guy does, but they arent gonna be buying 1000x more pairs of shoes or tubes of toothpaste. they might spend 1000x what a poor person does, but on like a house or a plane or w/e which doesnt have the same broad economic boosting power that like regular people buying lots of regular stuff does, its just gonna benefit like that one plane company. poorer people are the biggest consumer base but if they have no money they are not gonna buy enough for economic growth. what they do buy, poo poo like food and whatnot, is already heavily government subsidised on the farming end so buying bread really does jack poo poo for the economy overall.

if they wanted to boost the economy theyd pay poorer people more, so they could buy more, so the economy could grow. when money is spent it is spent multiple times, a person buys bread from the shop, then that money is used by the shop to pay a supplier, then that supplier uses that money to pay a farmer, etc etc. the same money is spent multiple times, its called the multiplier effect. now a whole shitton of money sitting in an offshore bank account is not being spent multiple times, it is only spent once. trickle down economics would only work if rich people literally did buy 1000x as much of everything as poor people do. but they dont.

edit edit: the us car industry is a microcosm of this effect. the car industry had grown to a size that depended on people replacing their car every 2 or 3 years, ie more frequently than they really needed to. as soon as people could no longer afford to buy cars at that rate the car industry collapsed because now suddenly people were just keeping their same old car for a long rear end time. the entire economy works like this. the poorer people get the more it will shrink because it depends on consumption to grow. the irony of it is that if rich people stopped loving over poor people so much the rich people would become richer from those poor people spending that money, and it ending up back in the pockets of ceos with the added effect of supporting their business

# ? Dec 14, 2014 03:49

the worst thing is: Oct 3, 2013; by FactsAreUseless

Tldr the american economy is a massive pyramid scheme that depends on growth to sustain itself

# ? Dec 14, 2014 03:51

Accretionist: Nov 7, 2012; I BELIEVE IN STUPID CONSPIRACY THEORIES

a posting ghost posted:

Tldr the american economy is a massive pyramid scheme that depends on growth to sustain itself

SUPPLEMENTAL:

# ? Dec 14, 2014 03:53

hawowanlawow: Jul 27, 2009

FirstPersonShitter posted:

people sold liability like it was securities and they cut it up and repackaged it so basically like normally a bank would have a house to foreclose on if someone defaulted on their mortgage, but cause they sold that liability it wound up that whole shitload of banks each owned like 1/100th of a house to foreclose on. but then they cut that up even more and repackaged it with other poo poo, and nobody really bothered to keep track of which house went with what liability so basically suddenly everyone realised they had no loving idea how to get the money back from the lovely high risk loans they sold to poor people so poo poo got real

edit: also we live in a consumer economy, which depends on people buying poo poo to be able to grow. now a rich guy might earn 1000x what a poor guy does, but they arent gonna be buying 1000x more pairs of shoes or tubes of toothpaste. they might spend 1000x what a poor person does, but on like a house or a plane or w/e which doesnt have the same broad economic boosting power that like regular people buying lots of regular stuff does, its just gonna benefit like that one plane company. poorer people are the biggest consumer base but if they have no money they are not gonna buy enough for economic growth. what they do buy, poo poo like food and whatnot, is already heavily government subsidised on the farming end so buying bread really does jack poo poo for the economy overall.

if they wanted to boost the economy theyd pay poorer people more, so they could buy more, so the economy could grow. when money is spent it is spent multiple times, a person buys bread from the shop, then that money is used by the shop to pay a supplier, then that supplier uses that money to pay a farmer, etc etc. the same money is spent multiple times, its called the multiplier effect. now a whole shitton of money sitting in an offshore bank account is not being spent multiple times, it is only spent once. trickle down economics would only work if rich people literally did buy 1000x as much of everything as poor people do. but they dont.

edit edit: the us car industry is a microcosm of this effect. the car industry had grown to a size that depended on people replacing their car every 2 or 3 years, ie more frequently than they really needed to. as soon as people could no longer afford to buy cars at that rate the car industry collapsed because now suddenly people were just keeping their same old car for a long rear end time. the entire economy works like this. the poorer people get the more it will shrink because it depends on consumption to grow. the irony of it is that if rich people stopped loving over poor people so much the rich people would become richer from those poor people spending that money, and it ending up back in the pockets of ceos with the added effect of supporting their business

From what I learned, China invested a ton of money into this mess at the time, with no real interest in making it back. Just to keep a favorable exchange rate

# ? Dec 14, 2014 04:10

Sephiroth_IRA: Mar 31, 2010

a posting ghost posted:

Tldr the american economy is a massive pyramid scheme that depends on growth to sustain itself

without redistribution capitalism is a pyramid scheme.

# ? Dec 14, 2014 04:31

FullLeatherJacket: Dec 30, 2004; Chiunque pu� essere Luther Blissett, semplicemente adottando il nome Luther Blissett

a posting ghost posted:

Tldr the american economy is a massive pyramid scheme that depends on growth to sustain itself

https://www.youtube.com/watch?v=qOP2V_np2c0

# ? Dec 14, 2014 14:00

ProperCauldron: Oct 11, 2004; nah chill

http://richkidsofinstagram.tumblr.com/

Rich kids of Instagram happened

# ? Dec 14, 2014 18:34

Sephiroth_IRA: Mar 31, 2010

ProperCoochie posted:

http://richkidsofinstagram.tumblr.com/

Rich kids of Instagram happened

hunt them down leave none alive.

# ? Dec 14, 2014 18:38

TEAYCHES: Jun 23, 2002

rich kids of instagram owns because it properly dehumanizes the wealthy

# ? Dec 14, 2014 18:41

Accretionist: Nov 7, 2012; I BELIEVE IN STUPID CONSPIRACY THEORIES

ProperCoochie posted:

http://richkidsofinstagram.tumblr.com/

Rich kids of Instagram happened

My wages are low so idiots who haven't worked a day in life can spend money like that

I'm walking around with those hands in my pocket

# ? Dec 14, 2014 18:55

Lucy Heartfilia: May 31, 2012

Sephiroth_IRA posted:

hunt them down leave none alive.

TEAYCHES posted:

rich kids of instagram owns because it properly dehumanizes the wealthy

# ? Dec 14, 2014 18:57

sexy young infidel: Nov 13, 2014; Faggot of the Year
2012, 2014

the economy is not zero sum u idiots

# ? Dec 14, 2014 18:58

TEAYCHES: Jun 23, 2002

sexy young infidel posted:

the economy is not zero sum u idiots

that is a completely meaningless statement

# ? Dec 14, 2014 18:59

Accretionist: Nov 7, 2012; I BELIEVE IN STUPID CONSPIRACY THEORIES

sexy young infidel posted:

the economy is not zero sum u idiots

My life is a labor cost to be minimized to maximize shareholder return.

A shareholder's night out

SUPPLEMENTAL:

# ? Dec 14, 2014 19:09

Berk Berkly: Apr 9, 2009; by zen death robot

Accretionist posted:

My life is a labor cost to be minimized to maximize shareholder return.

A shareholder's night out

Whales gonna Whale I guess.

Rich douches throwing money around is probably the smallest of sins the rich can commit, if that. Let them get fleeced.

Its the whole wealth hording and consolidation and getting their dicks in a sociopolitical privilege circle jerk thats more the problem.

# ? Dec 14, 2014 19:16

TEAYCHES: Jun 23, 2002

Berk Berkly posted:

Whales gonna Whale I guess.

Rich douches throwing money around is probably the smallest of sins the rich can commit, if that. Let them get fleeced.

Its the whole wealth hording and consolidation and getting their dicks in a sociopolitical privilege circle jerk thats more the problem.

oh yeah, wealthy consumer spending is nothing compared to the reasons behind why they can spend so flagrantly

i think the point of a healthy 2 minute hate on the rich like this is to really drive home how out of touch these people are, how they really do live on a different planet, and why lower and middle class people shouldnt identify with them personally or politically

# ? Dec 14, 2014 19:20

The 5th Foid: Nov 22, 2014; by Ralp

sexy young infidel posted:

the economy is not zero sum u idiots

Lol yes it is you retard baby's first Econ class fucknut. I'm going to cuck you.

# ? Dec 14, 2014 19:24

skeletonotherkin: Sep 26, 2014

The 5th Foid posted:

Lol yes it is you retard baby's first Econ class fucknut. I'm going to cuck you.

Can I watch?

# ? Dec 14, 2014 19:34

huskarl_marx: Oct 13, 2013; by zen death robot

so we've established itt that:

- the natural state of all heretofore economic systems is one of increasing inequality except for a brief period following the Franklin Delano Roosevelt administration

- this period is marked by massive public intervention, taking from the scared wealthy and investing in the waiting poor

- in the years after the lionized wealthy gradually peeled back these reforms aided by carefully crafted citizen complicity

this shows that simple reform isn't sufficient to address the issue of special interest groups seizing power gracefully and quietly, how do we get the money flowing back into the economy from these offshore wealthtraps?

# ? Dec 14, 2014 20:04

Accretionist: Nov 7, 2012; I BELIEVE IN STUPID CONSPIRACY THEORIES

huskarl_marx posted:

so we've established itt that:

- the natural state of all heretofore economic systems is one of increasing inequality except for a brief period following the Franklin Delano Roosevelt administration

- this period is marked by massive public intervention, taking from the scared wealthy and investing in the waiting poor

- in the years after the lionized wealthy gradually peeled back these reforms aided by carefully crafted citizen complicity

this shows that simple reform isn't sufficient to address the issue of special interest groups seizing power gracefully and quietly, how do we get the money flowing back into the economy from these offshore wealthtraps?

Basic Income's a good start.

# ? Dec 14, 2014 20:06

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# ? Apr 28, 2024 18:12

Top City Homo: Oct 15, 2014; Ramrod XTreme

TEAYCHES posted:

that is a completely meaningless statement

it means you are a whiny human being get back to work

# ? Dec 14, 2014 23:20

The Something Awful Forums > Archives > General Bullshit > What exactly went wrong in the economy ?

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