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Election Euphoria For The Poor Evaporates
While budgets are thrown around that tax wealth in every way possible and transfer payments are ever-increasing, it seems the post-election euphoria among the poor in the USA has worn off just as rapidly as it did in 2008. Bernanke's irrational exuberance has pushed the 'comfort' of the 'rich' (earning over $100k) to its highest since October 2010 while the comfort of the 'poor' (those earning under $15k per year) has slumped back to the lowest comfort in three months. We need moar wealth transfer.
Charts: Bloomberg
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Have some of that, Krugman.
Because the Fed has been to tight!
Truth be told, I have more than a dozen debt slaves (consumers) that work for me. the poor sons of bitches.
In my experience, it is their complete lack of understanding of the value of capital that makes them debt slaves (see savings rate), and an amazingly strong unwillingness to learn.
over 100k is rich?
in zimbabwe maybe...
I know many debt slaves that earn more than $100k.
If the monthly interest you pay is greater than your savings, then you are a debt slave.
Sorry to break it to you, boy, but deep down inside, you already knew it.
At least those guys have good security.
Now, where do Obama's elections fall on this chart?
Anyone know where I can find a chart of personal interest expenses? GM's sales is probably a fairly good proxy.
FRED tracks guns, food, gambling, gas, girl's underwear, recreation, etc., but the Fed doesn't appear to track personal interest expenses; it is not surprising.
I know it's silly, but to be fair, girls' underwear is a fairly strong indicator of Japanese growth.
at least their fellow slaves are not armed....you never know when a fellow slave can go into a shooting rampage!
Yeah, well, as far as I'm concerned, if you make over $5k/yr, you're rich. So you should pay 100%.
Signed,
The government.
Indeed, when one cannot save MOAR than they have to spend to servicing debt, then they are not saving at all. That was the math that provoked me to withdraw from the market and pay down debt. Oddly enough, that math is something ever a liberal voter can understand. I try to transition that math to describe how destructive the policy of ZIRP is and those same liberal voters then call me a gold bug. Sigh.....
Like Zimbabwe, there will be plenty of starving trillionaires in the near future.
Hope and Change rolls on.
The objective is to drive down the cognitive retention of the proles so that they can remember who they voted for last time (easy), but can't remember why (alas, also easy).
The objective will also be to brainwash the public into forgetting what it was like to have a job or how people had a chance to actually find a job. F TV and F Hollywood.
How much you paying them?
Think about it. The rich will gladly give up a little more in taxes if they are allowed to plunder the system freely. The extra 10 can help shower crumbs on the peasantry. It's all good. Corruption is king
The old bait and switch of both political parties as seen in graph form. Nice.
Rich man, poor man. Who says there is no class system in America?
<The American myth says so.>
Every society has a class system. Just that in some societies you're allowed to move from one class to another. In some, you're not.
Everyone is middle class in the US.
Middle class means you deserve a a 2,000+ sqr ft home, a pickup truck, an SUV, meals at Red Lobster once per week, a kitchen remodel for the wife at least every 5 years, an airplane vaction at least once per year, a trailer with quads, snowmobiles, or PWC, and four years of college for the kids.
Off topic, but related to Red Lobster. Samual Adams claims that they made some special sort of glass for drinking beer and I have found that Red Lobster had it first. https://twitter.com/FamilyRotten/status/317088255759749121/photo/1
Well yeah they are completely different...one clearly has a lobster on it and the other has a Sam Adams lable........that completely changes the drinking experience. Sheesh...I would think that you might have noticed that :)
Now THAT'S cutting-edge research, Dr. Dick.
I deserve that and a lot more. I'm an Amerkun dagumit!
You forgot all the free iShit
Middle class in America also includes 450 hours a month spent watching Oprah, the Kardashians, and American Idol.
The marks have buyers regret.
Bah bah bah.
"For to everyone who has will more be given, and he will have an abundance. But from the one who has not, even what he has will be taken away." (Matthew 25.29)
There happens nothing new under the sun.
"As ye believe, so is it done unto thee."
Now, that is really deep. Do you know how right you are?
Please stop saying, "wealth redistribution". It's a buzz word that only confuses the serfs.
"Held up by invisible gunpoint" is a more apt term.
It's called robbery!
I dont want to hear it. It is the poor people's fault for not being in the market.
At its core, QE is the greatest redistribution of wealth (or claims on it) in American history. Quite a weird sort of socialism, isn't it?
QE is typical socialism in the US of A. Socialism for the wealthy and well connected. Add the President's Working Group on Fonancial Markets into the mix and you have the stock market socialized for the folks who invest in it. But hey, it's all those poor welfare queens who cause ALL the trouble with the economy. Forget that their welfare is usualy spent in their local economy instead of reinvested into more speculative paper.
The more I think about it, this economic shitpile cannot collapse soon enough.
Sometimes I imagine what it would be like if that 85B per month was sent to the bottom 1% instead of the top.
Cadillac would have a banner year, as Escalade sales outpace bicycle trailers for the first time EVER!
Also, the price of steak and lobster would skyrocket.
http://en.m.wikipedia.org/wiki/Reversal_of_Fortune_(2005_film)
That 85B a month just isn't trickling down... So they will go after it in other ways.
Weirdly worded. The pressure on the poor is increasing. People earning over $100k in many parts of the country do not have an elevated level of comfort, particularly if self-employed with kids in college and are underwater in the casa.
Maybe, at some point in time, these idiots will figure out that politicians don't really have their best interests at heart....maybe, but I doubt it.
What?!
Say it ain't so..
Doubting is unnecessary. They won't get it. Period.
Bernanke is simply taking the pressure off the two political parties whose main goal seems to be looking after the Finance-Media Elites. Only by creating New Political Movements and taking control of States can the Establishment be shattered. Americans should be reading De Tocqueville:
Ancien Regime and the French Revolutionto find out how it goes from here
I am so sick of this government... fuck them all. Fuck the loser nonworking 47% as well. Having to do taxes this weekend has me in a very foul mood.
And where does that Bernanker think the money he's giving to banksters and crooked politicians (not to mention Eric Holder) comes from? They know they are bleeding the working people that's why they are building a civilian military called Dept. of Homeland Security. Hitler did the same thing. Instead of Hitler though, this one appears to be run by a masculine lesbian which I thought seemed a little odd. Anyhow the money for the war against the world has to come from somewhere and unless it comes from the Rockefellers and Rothschilds it will come from working mom's paychecks. Looks like little Johnny will be eating a little less this year.
Sincerely,
Fuck You Bernanke
Speaking of Janet, she apparently likes bagpipe music. Bagpipes are often used at funerals. Is she preparing for the funeral of American liberty?
No, she's preparing for the day when she dresses all of us in kilts.
she's preparing for the day when she dresses all of us in kilts...
and she'll make us all put our clothes on backwards and walk backwards on the holiday Backwards Day just like the plebes in John Waters' classic "Desperate Living".
It's not so much the market making new highs nor the fact my losses going short are sickening. But really what makes me what to committ hari kari is all the office douche bags talking amongst earh other like they are some second coming when it comes to day trading and their upcomeht never seems to arrive.
B-b-b-ut we're living the dream! Blowhole promised us Hope and Change DAMMIT! I ain't got time fo dis! /s
Actually I think that 'euphoria' evaporated when the tax hike hit, right along with Barry's other election promises. The weight of the entitlement class is now such that any future elections are probably moot as far as even 'two parties' are concerned, same shit, different color. Just unveil the charade for what it is and we can just let the EBT and O'phone owners 'Press 1 to Vote for Your Candidate' and be done with it.
I have long been convinced that institutions purely democratic must, sooner or later, destroy liberty, or civilisation, or both. TBM
Let it crumble and start again...
its like a sandwhich
white bread on the top
brown bread on the bottom
mustard in between
Gross. What the hell kind of sanwiches are you eating? ;->
Sounds like a diversified Wish sandwich. Diversified because of the two types of bread. A Wish sandwich is where you take two slices of bread and wish you had something to put between them. At least that's how the song went.
Wish sandwiches, coming soon to the (ex-) middle class.
But I was told by MSNBC that Obama has been the best president in history for the poor and has taken the hardest stance against the wealthy in history.
HE RAISED TAXES ON THE WEALTHY!!!
Of course, zero prosecutions for financial fraud, bailouts on top of bailouts, 90% of the wealth created over the last four years going to 1% of the population, are all extremely tough stances on the wealthy.
What is missing on the chart is middle class satisfaction, if there are any midde class people left.
I wonder how many guns the poor have.....
Apparently, in Chicago at least, quite a few. As to how many legal guns the poor have...
For all those people happily buying away at 1591 on the SPX. The 200 DMA is around 1448, a ridiculous 9% below the market! We usually touch the 200 DMA at least 1 year. Good luck.
Shut up and buy stocks
"We need moar wealth transfer."
Offical Odds: 3720 to 1
Poor needs to be redefined to everyone without an iPOS.
Pretty funny as usual: there is no difference to super-wealthy whether one makes $0.50 or $1,000/hr---in their eyes you are equally a piss poor peasant.
Bernanke wants everyone to feel good before the Monday ass raping. The European banks are selling dollars and buying euros and the pound hand over fist this week. Maybe they see something in the U.S. equity markets coming. They certainly don't need the cash to prop their bond markets up. Kuroda has that one handled for them.
$98 of earnings and a 13 multiple and the SPX goes to 1274.
Most white people think that they're rich and important and entitled to everything, most brown people think that they're poor and unimportant. The graphs above are beyond 'naive'.
"The poor are always with us." - J.C.
Entitlements must be reduced to cut the debt.
You seriously think they give a shit about the debt? It is 17 Trillion dollars how the hell can you even think this way?
This is the way you have to think:
http://www.youtube.com/watch?v=p0RkWqyn1y4
Until the people start thinking this way, the end is Greece.
Entitlements like the humungous benefits for each and every member of Congress and the Senate, not to mention the life-long perks, pensions, and ongoing tax-payer funded monthly vacations with the Secret Service chaperons in tow -- for life that Michelle and the kids will enjoy Ad infinitum. Yeah, this is a Republic alright -- just like the one's they had during the rule of the Roman Emperors.
Kinda get an idea of where this is heading.
I've got an idea! Devolve all entitlements to state control. That'll fix that shit in a hurry, as lifers move to California, Chicago, etc.
Exatly what the Jews did to the German people in the 30's.
In this country, more often than not, "poor" is a state of mind.
Louis CK on being broke:
"Banks just give rich people money just because they can. They're like, "Here's some money! Here's this guy's $15 bucks, he doesn't fuckin' need it!"
http://www.youtube.com/watch?v=Y_-1l_SlA7c
Economic confidence is riding high:
http://www.gallup.com/poll/151550/Gallup-Daily-Economic-Confidence-Index...
Consumer spending is up (self-reported):
http://www.gallup.com/poll/112723/Gallup-Daily-US-Consumer-Spending.aspx
Job creation has flattened but not faltered:
http://www.gallup.com/poll/151553/Gallup-Daily-Job-Creation-Index.aspx
And, half the country still adores the Chavista Prez:
http://www.gallup.com/poll/113980/Gallup-Daily-Obama-Job-Approval.aspx
When the SHTF, this stuff will change, but it hasn't dawned on Americans yet.
Sheeple: "Baaaaaaaa!"
Just wait until everyone with a high-school diploma (see 8th-grade education equivalent) has to fill out the 61-page Obamacare application.
Where's the popcorn? This should be fun.
The lesson of the Obama Presidency is that you CAN get elected and reelected in a recession if you promise the moon and spend like there's no tomorrow.
It's a roadmap for the future.
Really? Now I would have thought that Liberal/Socialist (Communist') would love sleeping in cardboard boxes? THAT IS EXACTLY WHAT OBAMA, AKA BARRY SOTORO, PROMISED YOU! Had you listened to his campaign, you may have voted differently. You Stupid Fucks could have had Ron Paul! But Noooooo. TEE HEE HEE!
Also, just a thought, you may want to look-up Valerie Jarrett.
Yo bitch. What you problem. Ya got Obama-phone, ya got food-stamp. What yo old rasty-ass bitchin about now. Obama got yo back woman. Show some god-damn grat-ee-tude. If dat Romnee feller got in yo rasty-ass be eatin dog food an lovin' it. Obama do ya goooooood! An remember, Obama got Obama-halla-point now too. A bizzillion rounds I hear say. So don't go on naa moanin' and groanin' cause Obama can put a cap in yo rasty ass just as fast as ya can say, "Where da fuck is my welfare check."
"the 'poor' (those earning under $15k per year)"
$7.18/hr $1250/mo and $60/day (gross, more or less considering holidays, no OT, 40 hr weeks, etc.)
the 'rich' (earning over $100k)
$49/hr $8333/mo and $400/day (same caveats)
we can't all have a dollar printer in our basement...can we?
Dude! Printing presses are soooooo.....not cool anymore. You just need a computer that can put zeros in the right place on the right balance sheet. Duh!
It had to wear off. That way, they can sell me some more!