Economy It's here again the yearly reminder about wage disparity between poor and the rich on Wall Street

Discussion in 'The War Room' started by PEB, Apr 8, 2019.

  1. PEB

    PEB Atomic Butt Drop Champ :)

    Joined:
    Jan 20, 2004
    Messages:
    13,968
    Likes Received:
    11,255
    Location:
    SPACE THE FINAL FRONTIER :)
    Pretty simple the bonuses of Wall Street elite is three times as much as the total wages of all Americans making a minimum wage. Yes that's a pretty big number 27 billion dollars this does not include executive bonuses around the Country this is just in Wall Street. Remind me again what does Wall Street actually create in terms of manufacturing jobs? It looks like Robert not a fan of Obama because he has been not to kind to Obama recently even though he worked for him and Clinton.

    I will hear it again.

    1:You sound poor
    2: What? do you hate capitalism you socialist
    3: Wall Street pumps money into startups to create jobs and this is why they get paid.
    4:Wall Street banks keep companies going.
    5:It costs money to keep top managers around.
    ...

    This is my problem we are losing a middle class and automation an little defense from even more job loses.


     
  2. Trotsky

    Trotsky Gold Belt

    Joined:
    May 20, 2016
    Messages:
    17,908
    Likes Received:
    43,546
    lol sorry that you hate FACTS and LOGIC and want to make everyone EQUALLY POOR because you don't understand ECONOMICS as taught to me by a Facebook EMAIL FORWARD.
     
  3. Amerikuracana

    Amerikuracana Yellow Card Yellow Card

    Joined:
    Feb 23, 2007
    Messages:
    45,868
    Likes Received:
    18,329
    Location:
    Macomb mi
    The problem is they aren't making anything. They are just draining money out of the economy. Literally. The people that actually produce are not an unlimited supply of free money for people who move money around and take some while they are doing it.
     
  4. PEB

    PEB Atomic Butt Drop Champ :)

    Joined:
    Jan 20, 2004
    Messages:
    13,968
    Likes Received:
    11,255
    Location:
    SPACE THE FINAL FRONTIER :)
    Kafir-kun likes this.
  5. PEB

    PEB Atomic Butt Drop Champ :)

    Joined:
    Jan 20, 2004
    Messages:
    13,968
    Likes Received:
    11,255
    Location:
    SPACE THE FINAL FRONTIER :)

    Next bank bailout we will be reminded again about that fact. Even though it's happening everyday of the year.

    "
    • Bank regulators are returning to efforts to require finance executives to defer more compensation and claw back bonuses if losses happen, according to the Wall Street Journal.
    • While banks including Goldman Sachs have voluntarily implemented rules on vesting and sales of stock compensation, new rules could mandate stiffer restrictions and expand the number of bank employees subject to them, the newspaper said."
     
    Strychnine and Kafir-kun like this.
  6. Trotsky

    Trotsky Gold Belt

    Joined:
    May 20, 2016
    Messages:
    17,908
    Likes Received:
    43,546
  7. PEB

    PEB Atomic Butt Drop Champ :)

    Joined:
    Jan 20, 2004
    Messages:
    13,968
    Likes Received:
    11,255
    Location:
    SPACE THE FINAL FRONTIER :)
    It looks like Robert slightly off his number according to Forbes it's only 2 times the total not 3 times LOL. That dam liberal Forbes magazine.

    https://www.forbes.com/sites/timwor...minimum-wage-earnings-in-the-us/#2d43a8b664df

    "Nicholas Kristof is making much of a recent wage calculation, that the Wall Street bonus pot is actually larger than, around twice the size of, the total earnings of all full year, full time, workers on the minimum wage. This is actually true and Kristof is using it as a lead off into the usual diatribes about how inequality is ruining all that was good about America.....you can probably write the rest of his column for yourself just from that description. But while it's true it's not actually all that interesting and it's most certainly not emblematic of some massive inequality problem. We might have all sorts of other evidence that there is such a problem but this just isn't it. The secret being that there's rather more people working on Wall Street than you might think and rather fewer working full time, full year, for the minimum wage."

    Not completely true because more people are working in retail and service jobs. Still paying minimum wage.
     
    Kafir-kun likes this.
  8. PEB

    PEB Atomic Butt Drop Champ :)

    Joined:
    Jan 20, 2004
    Messages:
    13,968
    Likes Received:
    11,255
    Location:
    SPACE THE FINAL FRONTIER :)
    I love how people compare raising minimum wage as some kind of socialist act seeing there is nothing socialist about this at all that people want fair wages as corporations report higher profits. Not surprising it would be a Texas University Professor who would equate economic disparity to education.
     
    Strychnine, Kafir-kun and Ornife like this.
  9. Trotsky

    Trotsky Gold Belt

    Joined:
    May 20, 2016
    Messages:
    17,908
    Likes Received:
    43,546
    Haha, it didn't actually happen. Generally speaking, economics professors are not morons.

    It's just more of the typical folklore of the conservative right. Kind of like the ones about the Christians proving the science professors wrong in class.
     
  10. Sano

    Sano Black Belt

    Joined:
    Jul 31, 2011
    Messages:
    7,398
    Likes Received:
    13,258
    Location:
    Denmark
    Holy shit and that's only their bonuses!
     
    Strychnine and PEB like this.
  11. Sonny Qc

    Sonny Qc Gold Belt

    Joined:
    Feb 3, 2016
    Messages:
    22,099
    Likes Received:
    76,791
    Location:
    Québec City, CAN
    what's the minimum wage in the U.S?
     
    Last edited: Apr 8, 2019
  12. PEB

    PEB Atomic Butt Drop Champ :)

    Joined:
    Jan 20, 2004
    Messages:
    13,968
    Likes Received:
    11,255
    Location:
    SPACE THE FINAL FRONTIER :)
    Sorry I'm just some lowly Sherdog poster who finds it funny that wages of Americans VS wages of the one percent is totally out of hand. I used to walk by a billionaires office everyday and had lunch with the head of engineering and the former VP of HP at one time my direct report. The thing is they came from nothing not from wealthy families or elitist colleges and they had no problems giving out bonuses and treating people with respect. Heck the VP of engineering used to give people rides on his helicopter. This is not to paint all wealthy people as bad it's just pointing out how Wall Street has gone completely nuts.
     
    Kafir-kun likes this.
  13. Trotsky

    Trotsky Gold Belt

    Joined:
    May 20, 2016
    Messages:
    17,908
    Likes Received:
    43,546
    Yeah, I think the "Wall Street" monolith is a kind of an arbitrary figurehead for an entire economy based on predation.

    John Oliver did a really good segment on another such industry last night: manufactured home dealers and lot operators. Venture capitalists buy up mobile home lots and then arbitrarily hike up the rents to persons living there, knowing that they cannot afford to move and are basically a captive consumer base.


    People/industries/entities like this add absolutely fucking nothing to the economy, country, or world.
     
    xcvbn, Higus, Kafir-kun and 1 other person like this.
  14. EradiatedHaggis

    EradiatedHaggis Yellow Card Yellow Card

    Joined:
    Jun 29, 2008
    Messages:
    4,565
    Likes Received:
    5,402
    No one expects uneducated people to understand how the world works. Your understanding matches your inability to make a lot of money.

    You take your sub-30k pay and barely survive.

    I take my 6 digits, pay for what I need to get by, and invest the rest to make even more money. What does that do? It gives the company more money that pays your wages for you to do your minute contribution to the world so the economy can continue and you can work.

    And yes, I expect you to believe that its suddenly somehow different today because that lack of world knowledge allows so much air to be between your ears that it can be filled by Communist propaganda.

    But I do love seeing threads that prove that the public school system is nothing more than a baby-sitting factory that doesnt actually teach anything of any actual value...the fact that a single person can come out of them without fully understanding how capitalism works is mind-boggling.
     
  15. tinker_190

    tinker_190 Brown Belt

    Joined:
    Oct 9, 2005
    Messages:
    3,426
    Likes Received:
    867
    There isn't a fixed one. It depends on what state you are in
     
    Sonny Qc likes this.
  16. Sonny Qc

    Sonny Qc Gold Belt

    Joined:
    Feb 3, 2016
    Messages:
    22,099
    Likes Received:
    76,791
    Location:
    Québec City, CAN
    make sense, same in Canada
     
  17. Trotsky

    Trotsky Gold Belt

    Joined:
    May 20, 2016
    Messages:
    17,908
    Likes Received:
    43,546
    We all totally believe you're smart and successful. Your intelligence is shown here every day, and we can tell you're successful by how happy and pleasant you always are.
     
  18. EradiatedHaggis

    EradiatedHaggis Yellow Card Yellow Card

    Joined:
    Jun 29, 2008
    Messages:
    4,565
    Likes Received:
    5,402
    Nice to see your attempt at character assassination in place of an actual argument oh intelligent one and all while proving the point about unintelligent people not being smart enough to understand.

    <DCWhoa>

    No really. Your post put my points in their place. I cannot match your cognitive abilities. Thank Marx.

    <36>
     
  19. Trotsky

    Trotsky Gold Belt

    Joined:
    May 20, 2016
    Messages:
    17,908
    Likes Received:
    43,546
    Jeez, take a compliment, guy. Also, you need to include a few more emojis to really hit home how great your....err, cognitive abilities are.
     
    Higus and Kafir-kun like this.
  20. EradiatedHaggis

    EradiatedHaggis Yellow Card Yellow Card

    Joined:
    Jun 29, 2008
    Messages:
    4,565
    Likes Received:
    5,402
    Wut still no refute, no actual information at all...

    <DCrying>

    Also, try to change your posts up a bit, you and your sock-puppet accounts always posts the same 3 attack types.

    <GrassoBless>

    Also,

    {<BJPeen}<BC1>
     
    superking likes this.

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.