DOW closes above 38,000 for the first time ever

great, business costs are going down, profits are up, stock market is up. guy working by the hour can't afford rent and groceries. the wealth disparity continues to grow. as someone with invested assets and home ownership I see it first hand versus my kids who are without. investment is being rewarded outsized gains compared to labor. and I'm not a union guy but the wealth disparity is real and is increasing. that is not a good thing for anybody.

 

Capitalism baby!

 

Makes a better case for democratizing the economy than I have in years of posts. The main problem is all those people that are seeing it first hand for themselves are like "more please, and anything else is communism!"

 

Agreed. This has been going on for several decades and has to first be recognized as a problem before we can even start discussing solutions.

It's like the climate change debate years ago - when pressed to confirm its existence and cause, denialists would often go straight to NWO consipracies about how solutions would come from the UN or some such stuff.

 

Okay, I'm going to go on a bit of a rant here (not directed at you as I appreciate your point), but this is what elder millennials, especially, have been saying for 15 years now, in regards to housing prices. Through the whole nauseating period where older generations treated us as lazy, unambitious, adult children who wanted nothing more than to live with our parents, play videogames, and eat avocado toast, we were busy talking about how none of us could afford housing and that we wouldn't even get close in the areas we lived if we got cheaper phones, bought a few less videogames, and stopped eating avocado toast. Nobody really bought it until it was their kids telling them.

The other part that makes this a bit hard to take from our perspective is the reaction to whenever somebody tries to do something to help these people. Cancel student debt? Watch older generations of Conservatives, Moderates, and even Moderate Liberals lose their minds at the very notion. Create a single payer healthcare system or even just a public option? Don't you dare bring your commie, government healthcare in here! I like my Medicare just the way it is. UBI? Not even worth considering!

And we are seeing the same instincts take hold in the post-Covid world in regards to housing. You know the fastest and easiest way to make cheaper housing? Remote work. People need to work in a limited number of areas right now for a lot of professions. For many professions, you are pretty tied to medium-to-large cities. Remote work, where it is possible, could lower the pressure on those cities, which have bore the brunt of the housing pricing increases, move people out of the cities to areas that have experienced declining populations (and, thus, have lower priced housing), and free up office space for conversion to housing, providing even more space for housing within the cities for those who can't or really don't want to leave.

But when it was suggested to push for remote work, the owners of capital blew a gasket. They won't work as hard or as efficiently if I can't hire somebody to look over their shoulder and tell them to work harder. Plus, and they didn't say this, their real estate would decline in value.

You know another way to lower prices in the construction and food markets? More immigrants (who work a large number of jobs in both industries). And yet, the biggest issue animating the political right and even some that would describe themselves as "moderates" is about how we need to close the border and elect a guy who will lower all forms of immigration.

So, instead, we do nothing, but people have started complaining on younger adult's behalf, just without any willingness to try new solutions. Basically, I think I speak for a lot of millennials, especially those of us who have done pretty well for ourselves in relative terms, when I say that the best we can really hope for is that we have a low enough unemployment rate that we can at least make our wages go up. And that we do (and we have seen wage increases over the last few years, much to the chagrin of many on here).

 

.[/QUOTE]

Fair enough. My asset allocation has less than 2% bonds.

 

i accidentally gave you a come on man. I removed it.

So about ‘climate change’. I’ve been around long enough that I remember global ice age turned to global warming. Then when that didn’t sell it became ‘climate change’. Then, of course anyone opposed is a ‘climate denier’ or climate change denier. I don’t even know what that means. Of course the climate will change. The debate is the origin or cause and more importantly the ‘solution’ Which I contend majority of solutions presented are much more expensive and actually cause More harm than the problem of climate change. Or more aptly titled the religion of climate change

Earth’s Temperature Tracker

 

I'm not going down that rabbit hole with you.

I was making an analogy and your post proved it to be accurate.

 

and could say the same about yours.

eliminating fertilizer from 3rd world countries for a best estimates 1/5th of 1 Degree C per decade. Guessing the Sri Lankans would take the.2 increase and keep their fertilizer to feed Themselves. Sadly they aren’t permitted to choose. Wake me up when the Chinese ban fertilizer to help feed their people

far more people will be harmed by a fertilizer ban Than .2 Degrees per decade and this just one example of a solution to ‘climate change’ Being far worse than the climate change itself

https://www.reuters.com/markets/com...-crops-government-popularity-ebbs-2022-03-03/

from climate.gov
For the last 50 years, global temperature rose at an average rate of about 0.13°C (around one-quarter degree Fahrenheit) per decade-almost twice as fast as the 0.07°C per decade increase observed over the previous half-century. In the next 20 years, scientists project that global average temperature will rise by around 0.2°C (about one-third of a degree Fahrenheit) per decade.

 

Bernie tried to tell everyone and I just wanted to laugh at him

 

You could say the same what about my what? Confused.

Again - I'm not discussing your views on AGW here.

 

guess it depends on the what you believe is fuel behind the wealth gap. Largest factor in the current environment is the dumping trillions of dollars into the market. Assets will inflate. It was predictable. A lot of that was during trump based on misguided policies during covid and then followed up by Biden infrastructure and climate bills that pumped in more spending. So yes we can continue with those absurd spending policies and assets will continue to increase along with the cost of goods. Some of us will benefit from the inflated equity and real estate prices. Others will watch starter homes go from 70,000 to 350,000 and feel further left behind.

 

9/11/19


It is kinda appalling that this is what he'd be "thinking" about on a day that should be set aside to celebrate the anny of his building becoming the tallest in NYC

 

The reasons for wealth disparity are quite simple, the gains of our economy are not democratized to a very high degree. There is no other explanation, all else is just denial of the obvious, mostly by people who have no desire to further democratize the economy.