U.S. heading toward DR wealth disparity?

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CFA123

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How close is the U.S. to these recent #'s?

* must compete against garment workers making 22 pesos/hr in China and 8 pesos per hour in Cambodia
* 21% of kids live below poverty level
* top 10% of wage earners make 50% of nation's income
* 83% of stock investments in hands of 1% of people
* 61% "always or usually" live paycheck to paycheck
* only top 5% of income earners have kept pace with rising housing costs since 1975
* avg executive paycheck 300-500x the avg worker's paycheck
* bottom 50% of income earners hold less than 1% of nation's wealth
* avg time to find a job - 35.2 weeks
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And those are the US #'s! Click for the article & more statistics.

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rice&beans

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Not exactly groundbreaking news, it's been going on for years. Greed Greed Greed!(outsourcing) But when that Greed turns around and bites you in the ass (middle class) That turns into Bad Bad Bad!...............
 
PICHARDO

PICHARDO

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rice&beans said:
83% of stock invesments in hands of 1% of people....What? That stat doesn't seem right.
Click to expand...

83-percent-of-all-us-stocks-are-in-the-hands-of-1-percent-of-the-people.jpg


as-of-2007-the-bottom-80-percent-of-american-households-held-about-7-of-the-liquid-financial-assets.jpg


half-of-america-owns-only-25-of-countrys-wealth-the-top-1-owns-a-third-of-it.jpg


look-how-the-wealth-gap-grown.jpg


the-last-two-decades-were-greatif-you-were-a-ceo-or-business-owner-not-if-you-were-anyone-else.jpg


real-average-earnings-have-not-increased-in-50-years-thats-half-a-century.jpg


and-savings-rates-are-sinking-as-americans-borrow-money-to-keep-up.jpg


despite-the-myth-of-social-mobility-poor-americans-have-a-slim-chance-of-rising-to-the-upper-middle-class.jpg


inequality-is-worst-around-wall-street-and-oil-land.jpg
 
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CFA123

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rice&beans said:
Not exactly groundbreaking news, it's been going on for years. Greed Greed Greed!(outsourcing) But when that Greed turns around and bites you in the ass (middle class) That turns into Bad Bad Bad!...............
Click to expand...

R&B,
The article indicates that disparity between have & have nots is growing. It's a concern.

I'm sympathetic to the situation, but people need to get off their arse's and make their own way in the world... those that do, prosper... at least in comparison to others in their community. Too many think it's somehow a 'right' to have a job or else be supported by gov't.

Prospering in Haiti or DR may not equate to the same level as in a developed country, but the same applies - those who work industriously & intelligently tend to do comparatively well. I've little sympathy for those who are capable that don't get out and do something.
 
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CFA123

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PICHARDO said:
Now the DR's numbers and then pie and charts!
Click to expand...

If you have DR #'s, that'd be great.

Not sure how things like poverty level are defined in DR vs US.. Or for example only x% in US have US$10k in retirement savings, what RD$ one would compare that to for a reasonable comparison.

Or, if top 10% make 50% of income in US, but avg for the 90% is US$20k a year, I'm not sure that's equiv to saying in DR 90% make US$3000 a year.

If you think you can help draw conclusions from comparisons would be good.
 
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rice&beans

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The end is near....lol

CFA123 said:
R&B,
The article indicates that disparity between have & have nots is growing. It's a concern.

I'm sympathetic to the situation, but people need to get off their arse's and make their own way in the world... those that do, prosper... at least in comparison to others in their community. Too many think it's somehow a 'right' to have a job or else be supported by gov't.

Prospering in Haiti or DR may not equate to the same level as in a developed country, but the same applies - those who work industriously & intelligently tend to do comparatively well. I've little sympathy for those who are capable that don't get out and do something.
Click to expand...

I agree, it is a major concern, just an old story. I did read the article, but it's just greed at it's worst. (outsourcing)...BIG problem in the USA. I agree..."get off your ass and DO something" But that's just a simple answer to a complex question.
 
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rice&beans

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PICHARDO...........I have been enlightened indeed!..........love the charts, thanx....when I first saw that stat, ONLY 1% of USA population own 83% of stock investments. It just seemed off.
 
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greydread

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CFA123 said:
Prospering in Haiti or DR may not equate to the same level as in a developed country, but the same applies - those who work industriously & intelligently tend to do comparatively well. I've little sympathy for those who are capable that don't get out and do something.
Click to expand...

The part that the charts and graphs don't show is the fact that a majority of the percentage of the population which experienced a decline in savings, stock holdings and overall wealth are working longer hours for less money than they did prior to the decline. They have fewer job provided benefits and many have had to work more than one job or take on entrepreneurial endeavors.

No the answer to this one has little to do with lack of inspiration, dedication or perspiration on the part of the victims of the increasing wealth disparity in the US. Many are suffering because of circumstances beyond their control because of what that 1% decided to do with their jobs and where the remaining 9% of the top 10% decided to place their investment capital.
 
cobraboy

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rice&beans said:
I agree, it is a major concern, just an old story. I did read the article, but it's just greed at it's worst. (outsourcing)...BIG problem in the USA. I agree..."get off your ass and DO something" But that's just a simple answer to a complex question.
Click to expand...
Outsourcing is not greed.

Every business must compete or die.

Only someone who does not understand economics, business and "globalization" really means would make such a statement that outsourcing=Greed.

I would suggest the book The Earth is Flat" by Thomas Friedman (hardly a right wing trogodyte) for a quick lesson in what the "global economy" means.
 
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CFA123

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greydread said:
Many are suffering because of circumstances beyond their control because of what that 1% decided to do with their jobs and where the remaining 9% of the top 10% decided to place their investment capital.
Click to expand...

You simply restated my point, greydread... they're relying on others to provide them with a source of income. Or are you saying the top 10% has an obligation to the 90%?

Nothing wrong with working for someone else, but it is a choice. In good times there's a decent check each week for having put in 40-50 hours... but it has its inherent risks, especially if one thinks it will always last forever.

greydread said:
No the answer to this one has little to do with lack of inspiration, dedication or perspiration on the part of the victims of the increasing wealth disparity in the US. Many are suffering because of circumstances beyond their control because of what that 1% decided to do with their jobs and where the remaining 9% of the top 10% decided to place their investment capital.
Click to expand...

Just reread & see you think they are victims rather than willing participants. I forgot there's no free will to get an education, be creative, and become one of those top 10%.
 
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rice&beans

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I wish it was that simple....

cobraboy said:
Outsourcing is not greed.

Every business must compete or die.

Only someone who does not understand economics, business and "globalization" really means would make such a statement that outsourcing=Greed.

I would suggest the book The Earth is Flat" by Thomas Friedman (hardly a right wing trogodyte) for a quick lesson in what the "global economy" means.
Click to expand...

"Every business must compete or die" I agree, but there are limits to everything TRICKLE DOWN ECONOMICS Obviously that's not happening. The greed thing, not only an opinion of mine, but an opinion of many. I have NO problem with big business trying to make a buck and staying competitive. But as you should know, there has to be some humanity, sacrifice and giving back. (it's not gonna happen....I know that) and your efforts have been admirable in Haiti. (but that's another story) I don't need to understand economics, business and globalization on YOUR level. (but I do understand them on MY level) I know what is going on in the USA. That is just ONE of the many problems that exist. I am a former business owner, I get the Greed thing. (outsourcing just rubs me the wrong way, I know it's necessary, I just don't like it) and I know the reasons why they do it. Problems everywhere. PS How can we fix this mess STAY POSITIVE, and things WILL work out. hahaha Now thats a simple answer to a complex question!!
 
NALs

NALs

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cobraboy said:
Outsourcing is not greed.

Every business must compete or die.

Only someone who does not understand economics, business and "globalization" really means would make such a statement that outsourcing=Greed.

I would suggest the book The Earth is Flat" by Thomas Friedman (hardly a right wing trogodyte) for a quick lesson in what the "global economy" means.
Click to expand...
Right.

And those "someone's" are "only" 99.9% of the people. :cheeky:

For the topic: The average American wants to believe that the U.S. is a classless society (or close to being one), but that's because they simply don't know what I know. Had they known that, they wouldn't be thinking like they do, because everyone that knows what I know, certainly don't think like that. Capice?

Nothing that has been posted in this thread is shocking, or at least it shouldn't be. It's so obvious by simply looking around.
 
R

rice&beans

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May 16, 2010
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Wow!...I wanna be in your percentile....

NALs said:
Right.

And those "someone's" are "only" 99.9% of the people. :cheeky:

For the topic: The average American wants to believe that the U.S. is a classless society (or close to being one), but that's because they simply don't know what I know. Had they known that, they wouldn't be thinking like they do, because everyone that knows what I know, certainly don't think like that. Capice?

Nothing that has been posted in this thread is shocking, or at least it shouldn't be. It's so obvious by simply looking around.
Click to expand...

Hahahaha......... .10 Your in some pretty smart company!!
 
cobraboy

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rice&beans said:
"Every business must compete or die" I agree, but there are limits to everything TRICKLE DOWN ECONOMICS Obviously that's not happening. The greed thing, not only an opinion of mine, but an opinion of many. I have NO problem with big business trying to make a buck and staying competitive. But as you should know, there has to be some humanity, sacrifice and giving back. (it's not gonna happen....I know that) and your efforts have been admirable in Haiti. (but that's another story) I don't need to understand economics, business and globalization on YOUR level. (but I do understand them on MY level) I know what is going on in the USA. That is just ONE of the many problems that exist. I am a former business owner, I get the Greed thing. (outsourcing just rubs me the wrong way, I know it's necessary, I just don't like it) and I know the reasons why they do it. Problems everywhere. PS How can we fix this mess STAY POSITIVE, and things WILL work out. hahaha Now thats a simple answer to a complex question!!
Click to expand...
Unshackle people from the slavery of gubmint intrusion into their lives, let the creative juices flow, let them be rewarded for their results (not good intentions) and watch what happens.

And before you criticize one economic theory, take a peek how the world economy ios doing now that Keynsians have been in charge for several years. Sweet, huh?

And remember: before that evil greedmongering capitalist gets to buy new yachts and Bentley's made from those socially unacceptable profits....











...employees are hired and paid, vendors are hired and paid, taxes are paid...
 
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pkaide1

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cobraboy said:
Outsourcing is not greed.

Every business must compete or die.

Only someone who does not understand economics, business and "globalization" really means would make such a statement that outsourcing=Greed.

I would suggest the book The Earth is Flat" by Thomas Friedman (hardly a right wing trogodyte) for a quick lesson in what the "global economy" means.
Click to expand...

It is not greed. It is just another term for continuing exploiting third world countries for the cheap labor that they can offer. It would be a true globalization when all the countries are competing at the same level by having some type of dignity as the one existing today in developed nations. At some point first world countries will realize that in order for them to compete their standards, education and way of living will need to come down to a third world country level.
 
cobraboy

cobraboy

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pkaide1 said:
It is not greed. It is just another term for continuing exploiting third world countries for the cheap labor that they can offer. It would be a true globalization when all the countries are competing at the same level by having some type of dignity as the one existing today in developed nations. At some point first world countries will realize that in order for them to compete their standards, education and way of living will need to come down to a third world country level.
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Nice.

But that's not the reality of the world.

The US and Europe are not the only markets in the world. There are a ton of economies who NEED cheap goods and services.

And by NOT outsourcing, products won't be affordable to them and those poor third-worlders...who think that $1 an hour job is cosmic and feeds his whole family on it...won't exist.

I'm sorry. I won't buy a $2000 computer built in the US when the same computer can be bought for $500 built in China or Singapore.

Understand world capital flows and economics before criticising "outsourcing." There is a whole lot more to it than "it's bad."

Unless, of course, you're advocating the direct distribution of wealth from rich to poor countries. That's a whole 'nuther discuission.
 
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pkaide1

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cobraboy said:
Nice.

But that's not the reality of the world.

The US and Europe are not the only markets in the world. There are a ton of economies who NEED cheap goods and services.

And by NOT outsourcing, products won't be affordable to them and those poor third-worlders...who think that $1 an hour job is cosmic and feeds his whole family on it...won't exist.

I'm sorry. I won't buy a $2000 computer built in the US when the same computer can be bought for $500 built in China or Singapore.

Understand world capital flows and economics before criticising "outsourcing." There is a whole lot more to it than "it's bad."

Unless, of course, you're advocating the direct distribution of wealth from rich to poor countries. That's a whole 'nuther discuission.
Click to expand...

I am not advocating the direct distribution of wealth, but the dignity that as human being all of us should have no matter where in the planet you live. I am a capitalist myself, but at some point the line should be drawn about what we will do for money.
 
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