Author Topic: "Inequality For All"  (Read 6008 times)

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Offline chuckjames

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Re: "Inequality For All"
« Reply #50 on: July 21, 2014, 02:55:59 PM »
To expand on that thought I belive the "free market" will always lead to a few big winners and alot of losers. Hence it was government intervention that created the middle class in the 20th century.

I liked the point that he made regarding that there is no "free market" and that there never really has been.

Yes the free market almost always inevitably leads to an oligopoly or monopoly. 

Offline K-S-U-Wildcats!

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Re: "Inequality For All"
« Reply #51 on: July 21, 2014, 03:31:50 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, but government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous. See what expansion of the welfare state has done for the black community.
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

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Re: "Inequality For All"
« Reply #52 on: July 21, 2014, 03:38:11 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, but government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Offline john "teach me how to" dougie

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Re: "Inequality For All"
« Reply #53 on: July 21, 2014, 03:44:03 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, but government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

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Re: "Inequality For All"
« Reply #54 on: July 21, 2014, 03:45:42 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, but government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

no

Offline K-S-U-Wildcats!

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Re: "Inequality For All"
« Reply #55 on: July 21, 2014, 03:49:47 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, but government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

no

Yes. Source: I work in that industry. When you prevent lenders from discriminating based on, gasp, the ability to repay, that's a bad thing. The lenders then turned around and securitized their crap loans as quickly as possible to get them off their books.
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

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Re: "Inequality For All"
« Reply #56 on: July 21, 2014, 03:54:28 PM »
yeah that's not "the cause" of the current recession you dopes

Offline john "teach me how to" dougie

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Re: "Inequality For All"
« Reply #57 on: July 21, 2014, 04:05:03 PM »
yeah that's not "the cause" of the current recession you dopes

That's why I said "indirectly". Banks never would have made the bad loans if Glass-Steagall had not been repealed in 1999 and gave them an outlet to appease pressure from congress to expand home lending.

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Re: "Inequality For All"
« Reply #58 on: July 21, 2014, 04:11:08 PM »
yeah that's not "the cause" of the current recession you dopes

That's why I said "indirectly". Banks never would have made the bad loans if Glass-Steagall had not been repealed in 1999 and gave them an outlet to appease pressure from congress to expand home lending.

Are you saying the repeal of Glass-Steagall was an attempt to correct housing discrimination? uh, ok.

Offline john "teach me how to" dougie

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Re: "Inequality For All"
« Reply #59 on: July 21, 2014, 04:25:51 PM »
yeah that's not "the cause" of the current recession you dopes

That's why I said "indirectly". Banks never would have made the bad loans if Glass-Steagall had not been repealed in 1999 and gave them an outlet to appease pressure from congress to expand home lending.

Are you saying the repeal of Glass-Steagall was an attempt to correct housing discrimination? uh, ok.

No, just another part of the equation. I would assume it was just a favor to some banking industry friends of Clinton.

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Re: "Inequality For All"
« Reply #60 on: July 21, 2014, 04:28:42 PM »
I would assume it was just a favor to some banking industry friends of Clinton.

that is likely far more accurate.

Offline Benja

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Re: "Inequality For All"
« Reply #61 on: July 21, 2014, 05:57:33 PM »
 :)

Offline nicname

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Re: "Inequality For All"
« Reply #62 on: July 21, 2014, 08:10:21 PM »
All hail the pit. Another potentially enlightening and productive conversation ruined by blowhards.
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Offline Headinjun

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Re: "Inequality For All"
« Reply #63 on: July 21, 2014, 08:56:48 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, b

ut government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

no

Yes. Source: I work in that industry. When you prevent lenders from discriminating based on, gasp, the ability to repay, that's a bad thing. The lenders then turned around and securitized their crap loans as quickly as possible to get them off their books.

You must be a teller then if you believe that bullshit.

Lenders were happy to sign off on risky loans as the premium for them was great in the secondary market. Wall Street had a want for risky packaged securities and mortgage companies were happy to oblige.

Offline john "teach me how to" dougie

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Re: "Inequality For All"
« Reply #64 on: July 21, 2014, 09:13:15 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, b

ut government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

no

Yes. Source: I work in that industry. When you prevent lenders from discriminating based on, gasp, the ability to repay, that's a bad thing. The lenders then turned around and securitized their crap loans as quickly as possible to get them off their books.

You must be a teller then if you believe that bullshit.

Lenders were happy to sign off on risky loans as the premium for them was great in the secondary market. Wall Street had a want for risky packaged securities and mortgage companies were happy to oblige.

that's what he said

Offline brandochav

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Re: "Inequality For All"
« Reply #65 on: July 21, 2014, 09:17:44 PM »
KSUW: is inequality not a problem or is it just any proposed remedy that is bad?

We're not all equal. Blame mother nature. Unequal gifts, unequal talents. The best we can hope for is equal opportunity, not equal outcome. Liberal efforts to put a thumb on the scales in order to balance things out are both immoral and failures. They involve redistribution of weath and opportunity (see, e.g., race-based college admission standards).

You should give the article below a read. This Plutocrat himself, a multibillionaire and unapologetic capitalist, argues that it's not that there is inequality; of course that is bound to happen in any capitalistic society. It's that it is occurring at an unprecedented rate and magnitude. He states something to the effect, "you show me a society with this much inequality and I'll show you a police state or imminent uprising". The entire premise is that it's true...the game is rigged. His take home, however, is that they need to start favoring their employee base as much as they do their customers, that they ARE their customers (the Henry Ford model). He argues that this is not only conducive to long term profits, but that the inevitable alternative as evidenced throughout history will not be kind to them. He further cites the fact that Seattle, being one of the fastest growing city economies for start-ups and small business, is an example to this fact as they have one of the highest minimum wages limits in the Nation. Anyway, it's a good read and offers a lot of unapologetic truth, while allowing one to see the issue without so much as getting defense for the feeling of misplaced guilt.

http://www.politico.com/magazine/story/2014/06/the-pitchforks-are-coming-for-us-plutocrats-108014.html#.U83G__ldWVM

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Re: "Inequality For All"
« Reply #66 on: July 21, 2014, 09:34:34 PM »
There's no known system of government that creates equality from birth. If you want one, it's going to take a crap load of orphanages and nuns.
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Re: "Inequality For All"
« Reply #67 on: July 21, 2014, 09:36:06 PM »
Rhodes scholar, Alumnus of Dartmouth, Oxford and Yale. Nope, not intelligent.

An ironic choice to lead the "inequality for all" charge. 
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Offline Asteriskhead

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Re: "Inequality For All"
« Reply #68 on: July 21, 2014, 09:41:53 PM »
Rhodes scholar, Alumnus of Dartmouth, Oxford and Yale. Nope, not intelligent.

An ironic choice to lead the "inequality for all" charge.

Yes, because an unintelligent person would be an excellent choice.

Offline Headinjun

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Re: "Inequality For All"
« Reply #69 on: July 21, 2014, 09:42:00 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, b

ut government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

no

Yes. Source: I work in that industry. When you prevent lenders from discriminating based on, gasp, the ability to repay, that's a bad thing. The lenders then turned around and securitized their crap loans as quickly as possible to get them off their books.

You must be a teller then if you believe that bullshit.

Lenders were happy to sign off on risky loans as the premium for them was great in the secondary market. Wall Street had a want for risky packaged securities and mortgage companies were happy to oblige.

that's what he said

It's clearly not.

Nobody prevented lenders from following standard underwriting, the subprime lenders were more than happy to write risky loans. Wall Street had a scheme for high risk CDOs and the mortgage companies provided the supply.

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Re: "Inequality For All"
« Reply #70 on: July 21, 2014, 09:44:34 PM »
A lot of "Romney provided the playbook for obamacare" people on here pretending like wall street made up subprime lending.  Part of being libtarded I guess.
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Re: "Inequality For All"
« Reply #71 on: July 21, 2014, 10:11:07 PM »
Rhodes scholar, Alumnus of Dartmouth, Oxford and Yale. Nope, not intelligent.

An ironic choice to lead the "inequality for all" charge.

Yes, because an unintelligent person would be an excellent choice.

Your intelligence metric is awfully aristocratic.  Also, you aren't getting what I'm blogging.
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Re: "Inequality For All"
« Reply #72 on: July 21, 2014, 10:19:37 PM »
Rhodes scholar, Alumnus of Dartmouth, Oxford and Yale. Nope, not intelligent.

An ironic choice to lead the "inequality for all" charge.

Yes, because an unintelligent person would be an excellent choice.

Your intelligence metric is awfully aristocratic.  Also, you aren't getting what I'm blogging.

Intelligent people come from all walks of life, but it's incredibly hard to graduate from an ivy league college when you are unintelligent.

Also, I get what you're blogging, but Reich's privilege has no bearing on his knowledge of economic inequality or the stance he has chosen to take on it.

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Re: "Inequality For All"
« Reply #73 on: July 21, 2014, 10:25:42 PM »

it's incredibly hard to graduate from an ivy league college when you are unintelligent.


I don't believe this is true at all

Quote
Also, I get what you're blogging, but Reich's privilege has no bearing on his knowledge of economic inequality or the stance he has chosen to take on it.

What position could you possibly be in to make this statement?
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Offline john "teach me how to" dougie

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Re: "Inequality For All"
« Reply #74 on: July 21, 2014, 11:06:51 PM »
There's nothing wrong with parents passing on what they accumulate as a springboard for their children. That's part of the American Dream.

Agreed, b

ut government-sanctioned discrimination created a disproportionate distribution of springboards that still exists. Should the government have any responsibility to attempt to correct this mistake in any way?

Are you talking about slavery/segregation or something else? You correct the mistake by not doing it anymore. Efforts to affirmatively compensate for it have been disastrous.

housing financing discrimination probably has the biggest effect today.

Didn't the attempt to fix this indirectly lead to the current recession?

no

Yes. Source: I work in that industry. When you prevent lenders from discriminating based on, gasp, the ability to repay, that's a bad thing. The lenders then turned around and securitized their crap loans as quickly as possible to get them off their books.

You must be a teller then if you believe that bullshit.

Lenders were happy to sign off on risky loans as the premium for them was great in the secondary market. Wall Street had a want for risky packaged securities and mortgage companies were happy to oblige.

that's what he said

It's clearly not.

Nobody prevented lenders from following standard underwriting, the subprime lenders were more than happy to write risky loans. Wall Street had a scheme for high risk CDOs and the mortgage companies provided the supply.

Glass-Steagall is what used to keep lenders following standard underwriting. Separating lenders from the stock market was actually a good thing the government did after the depression.