Sarkozy: Europe's "Liquidity Run" Has Begun Because There Is An Unsolvable $30 Trillion Problem
No, not that Sarkozy. His half-brother - the one who actually can use a calculator. In an interview on CNBC, the Carlyle group head had the temerity to tell the truth, the whole truth, and use math - that long-forgotten concept which one has to scour various backwater blogs to rediscover - to explain nothing but the truth which is that Europe needs many more trillions than either the EFSF or the ECB can afford to give. Actually, we take that back. The ECB can inject the needed €3-5 trillion, but after that concerns about localized episodes of (hyper)inflation, especially now that Kocherlakota has confirmed that the transmission mechanism between bank reserves and inflation may be broken, will be all too justified. In the meantime, Sarkozy on Europe math fail: "The math i'm working with is very simple. In the US banking sector, we had 3 trillion of wholesale funding that needed to be stabilized, got stabilized by the implementation of TARP which saw the US treasury buy $212 billion worth of preferred in the banking sector to stabilize that $3 trillion, give our banks the time to work through hair problem their problem assets. In Europe, that $3 trillion is $30 trillion. so if you multiply the $212 by 10, you get the $2.12 trillion. In my view, the issues on the European banks are bigger than the issues on the books of the US Banks. So if you want to stabilize that $30 trillion and in my view it's not that you want to, it's that you have to, you do not have a choice, you're going to have to be at least at 2.1 trillion and i suspect it may need to be more." Q.E.D. - there, the math wasn't that difficult, was it?
And for his other clips from the morning click here and here.
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EL PRINTO Time, Bitchez ...
US Gov needs $60 + TRILLION !!!
Q: What backs USD?
A: $300 Million US/IRS tax-slaves.
Ron Paul 2012.
They are Printing Infinite Paper Gold, so whats the problem printing Infinite Paper Fiats ???
Why dont they start digging up silver out of the ground to pay down there debt? it only cost $5 to do so. Well maybe $6, inflations has been working shovel market. lol
The fucking Carlyle group man! That's one of the most crooked investment firms on earth! Goldman sach X 1000 !
2nd only to Crown Corporation for NWO insiders.
Olivier Sarkozy was born to Pal Sarkozy de Nagy-Bocsa and Christine de Ganay. His father was previously married to Andrée Mallah and had three children with her, including Nicolas and Guillaume, whom Sarkozy met with weekly during his early childhood. Christine de Ganay divorced and then married Frank G. Wisner, an American diplomat, when Sarkozy was only 7 years of age. He spent the rest of his childhood and adolescence outside of France, living in Zambia, Egypt, and British boarding school, though Sarkozy still met his half-brothers during the summer months. Sarkozy later studied at the University of St Andrews, where he earned an M.A. in medieval history.[1]Wiki
Frank G Wisner: http://en.wikipedia.org/wiki/Frank_G._Wisner - From Wiki: "Wisner was involved in a diplomatic gaffe during the pro-democracy uprising in Egypt in early 2011.[5] The Obama administration asked Wisner to carry views to Egyptian dictator Hosni Mubarak, including advice that Mubarak should resign to defuse the crisis. Wisner was not successful in convincing the dictator of the wisdom of the administration's suggestions. Just 4 days later, after a day in which Mubarak allies took violent reprisal against democracy activists, Wisner spoke to a security conference in Europe and called it "crucial" that Mubarak stay on in the interest of "stability", in direct contradiction of the American policy he had been asked to convey.
OTher highlights:
Currently, on Boards of ALICO and the AIG Investment Bank in Russia. Mr. Wisner is on the Board of Hakluyt, a British corporate investigation firm. His non-profit board affiliations include Rockefeller Brothers Fund, the American University of Beirut, the American University of Cairo, the American School of Tangiers, Refugees' International, United Service Organization, The Metropolitan Museum of Art's Business Committee, Institute for the Study of Diplomacy at Georgetown, Princeton University's Middle Eastern Affairs Advisory Board and The American Hospital in Paris.
Frank's Father: http://en.wikipedia.org/wiki/Frank_Wisner - From Wiki: Frank Gardiner Wisner (June 23, 1909 – October 29, 1965) was head of Office of Strategic Services operations in southeastern Europe at the end of World War II, and the head of the Directorate of Plans of the Central Intelligence Agency during the 1950s.
Uploaded by RussiaToday on Nov 22, 2011
Every week Max Keiser looks at all the scandal behind the financial news headlines. This week Max Keiser and co-host, Stacy Herbert, discuss the Koch Brothers and MF Global and Northern Rock and Richard Branson's blonde hair and big, shiny teeth. In the second half of the show, Max talks to independent radio journalist Richard Thomas about Occupy LSX, poll tax riots and financial apartheid.
KR on FB: http://www.facebook.com/KeiserReport
http://www.youtube.com/watch?v=KheJE71GzpA
For instance, privately held Koch Industries -- whose
businesses make it a leading commodities trader -- sent a
letter to trading partners on Oct. 3 saying it was switching
eight accounts from MF Global to Mizuho Securities USA.
Koch Industries did not comment on the reason for its move.
http://www.reuters.com/article/2011/11/10/mfglobal-clawback-idUSN1E7A717U20111110
After 20 PLUS Years! Profitable Years!! BILLIONS! are moved just before the melt down occurs.
Corzine, Team Blue! Lt. for the Democrats!
http://www.youtube.com/watch?v=xm3VMrKqJSA
http://www.youtube.com/watch?v=buRO9TSlScQ
Helps!
Team Red Lt.'s Koch's??
http://www.youtube.com/watch?v=Gf1VPyHgQuo
http://www.youtube.com/watch?v=CWgW4bWZiEU
But I thought Team Blue Hated Team Red?
http://www.youtube.com/watch?v=ejCKhbJzAyc
I thought Team Red Hated Team Blue??
http://www.youtube.com/watch?v=hTUjYyae2zw
The only people who believe in Team Blue and Team Red are the Sheep.
The FACT is.. http://www.youtube.com/watch?v=i5dBZDSSky0 and thats the Truth!
AND! anyone who doesnt know these JEW"S! are FUCKING ALL OF US!! BETTER WAKE UP!
Did Someone At FINRA Do Corzine A Favor And Waive His Registration Requirements?
http://www.forbes.com/sites/billsinger/2011/11/04/did-someone-at-finra-do-corzine-a-favor-and-waive-his-registration-requirements/
-Here’s a bit of Wall Street arcana-
The Financial Industry Regulatory Authority’s (“FINRA”) website provides this information at : http://www.finra.org/Industry/Compliance/Registration/QualificationsExams/RegisteredReps/Qualifications/p011102
-Who must register as a representative?-
Anyone actively involved in the member’s investment banking or securities business must be registered as a representative with FINRA. Their duties may include supervision, solicitation, or training of persons associated with the member.
[NASD Membership and Registration Rule 1031(b) - Definition of Representative]
-Who must register as a principal?-
Persons associated with a member, enumerated below, who are actively engaged in the management of the member’s investment banking or securities business, including supervision, solicitation, conduct of business, or the training of persons associated with a member for any of these functions are designated as principals. Such persons shall include:'
(1) Sole Proprietors
(2) OfficersPartners
(3) Managers of Offices of Supervisory Jurisdiction, and
(4) Directors of Corporations.
:::::::Continued, read more Here:::::::
http://www.forbes.com/sites/billsinger/2011/11/04/did-someone-at-finra-do-corzine-a-favor-and-waive-his-registration-requirements/
::::::::CME Knew of MF Global Fund Shortfall Before CFTC Regulators?::::::::
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/11/16/bloomberg_articlesLUQ7FP0YHQ0X.DTL#ixzz1dtKYNyvR
Only days prior to the zombie financial broker that filed for bankruptcy, MF Global conducted “unexplained wire transfers” that brought on a $900 million shortfall in client funds. Customers like Gerald Celente learned that their accounts had been robbed. This is setting a precedent for -internal- bank runs as more big firms begin to go under.
This from BLOOMBERG: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/11/16/bloomberg_articlesLUQ7FP0YHQ0X.DTL ...“Examiners from CME Group Inc., the world’s largest futures exchange, found unexplained wire transfers at MF Global Inc. and a $900 million shortfall in client funds during the weekend the failing broker was talking with possible buyers, a person briefed on the matter said.”
On October 30th the CME had noticed these funds were missing, yet MF Global didn’t bother to inform the Commodity Futures Trading Commission until the following day after, which suggests that these transfers were made, “in a manner that may have been designed to avoid detection,” according to CME.
Koch Brothers ='s Jew's who get away with murdering the American Dream! They Kill us ALL with POISON! Spewing from their Companies!
But follow your gut! poison is good for your Kids..
The Jew's are not to blame.. not all of them.. just the ones who run America's Government!
Just the ones who OWN Wall Street!
Not ALL! Just some.
http://www.opensecrets.org/usearch/index.php?q=jewish&cx=010677907462955562473%3Anlldkv0jvam&cof=FORID%3A11
Lobbying Client(48 results)Hide All
PACs(6 results)
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Outside Spending Group(2 results)
527 Cmte(1 result)
Top Contributor to Member(64 results)
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WAKE UP! SLAVES!! YOU ARE OWNED!!!
FFS! I gave up on your first line, "Uploaded by RussiaToday on Nov 22, 2011"
Great research! Thanks for the links.
You get what happened at MF Global and what is about to happen at Jeffries. The EU doesn't know where to get that amount of money. They can try to print but Germany flat out refuses and even if they wanted too all that would do is cause inflation going into hyper inflation.
Wrong answer Debt backs the USD & tons of it!
It is enforcable by the WAR tools that the United States Corporation Of America posses.
The U.S. Navy is the largest in the world; its battle fleet tonnage is greater than that of the next 13 largest navies combined.[4] The U.S. Navy also has the world's largest carrier fleet, with 11 in service, one under construction (two planned), and one in reserve.
The United States was the first country to develop nuclear weapons, and is the only country to have used them in warfare,
Only the nuclear powered naval vessels are immune to sudden shocks in fuel supplies and ships sink. Plus, much of the US military naval power is projected Air Power (carriers) or missile carriers (Subs and Cruisers) Nothing that can't be done by land based military units.
As far as being the first to develop, we were actually late to the game. If we hadn't sabotaged the Germans, the Third Reich might have been first and you can bet that the German Leader at that time (what was his name....) would have used such technology with glee.
While it can be argued that the nuclear bombs that were deployed killed (conservatively 225,000 in Hiroshima and Nagasaki) several hundred thousand people, the planned invasion of the Japanese Home Islands would have likely resulted in a death toll of 370,000 american military and 1.6 million wounded. Japanese casualties would be even higher. You might also note that despite being the first to use a nuclear weapon, we have not used one since and have fought since then to keep others from using them.
A strategic reality of the nuclear navy is that the navy can park a potential nuclear disaster just offshore of most nations. Sink a carrier and suffer environmental nuclear consequences. Has all the makings for a Kurt Vonnegut novel.
There is not one iota of evidence that hitler was anywhere close to developing a nulke.read some history.Heisenberg,who headed the german program,met Neils Bohr secertly and promised to make sure that the porgram does not go anywhere.He kept his promise.
Japan had anounced the terms of surrender on national radio before Hiroshima and Nagasaki were nuked.None of them were military targets.Oppenheimer begged for a demonstrationstion of a nuclear explosion instead of dropping them on civilia
Really? That is news.
Do you have a reference for Japanese terms of surrender being announced before Hiroshima & Nagasaki?
Do you think America should have refrained from developing nuclear weapons because of a second-hand report of a remark from one physicist?
As soon as I get off from work, I'll post the reference.No,this is not news to people who are not raised on propaganda.Read some books on the history of development of Atomic weapons.
Here is the reference.If you need more,do let me know.
http://www.ihr.org/jhr/v16/v16n3p-4_Weber.html
Here is the reference.If you need more,do let me know.
http://www.ihr.org/jhr/v16/v16n3p-4_Weber.html
Probably all true but....as I recall the Japanese were trying to do what many States of Europe and the US had done like conquering other nations or regions for their own pillaging. The Western Powers didn't like the Japanese idea and started to encircle the Japanese access to (ta dahhh) oil. What ever, we didn't attack Japan's naval fleet and start moving troops to claim islands (ta dahhh) we thought "belonged to us". So don't start a fight you can't predict the outcome of (which means just about any fight) except like Panama and Grenada.
I was not trying to defend either Japanese or german imperialism.My point was our imperialism is bad as others.
This, from the W. TimeS?
http://www.washingtontimes.com/news/2011/nov/21/making-money-disappear/
Leverage is a bitch........bitchez!
libertarian86.blogspot.com
c u later euro bitchez!!
We should probably wish the european people well,
and their oligarchic, crony socio-capitalists hell.
Why Europeans in general have not flocked to Gold and Silver yet is a mystery to me. I know some have. I've read that Germans especially are diversified. But it doesn't seem like most of Europe realize that between outright default and monetization, the later will be utilized as history has shown.
some have, but you cannot believe how the prestitutes bash gold. They even bring "well respected economic professors" like Paul de Grauwe on tv saying gold has crashed and it's a bubble like L&H.
It is very difficult to convince people to buy fysical gold, even my 76 old father we knew what gold did stand for during the war still didn't buy any since i said to do so end 2008 and it has gone up 100% in euro's.
btw, local Joe Sixpack just watches his favorite series like "The bold and the beautiful"...
listen up i buy small every week in the uk... i don't talk to very many here about it.. they think you are tin foil hat briggade..uk 20%vat which makes me look an even bigger fuckwit... the dealers i buy from tell me they are busy especially during the big take downs...telegraph news paper reported oil chemical and silver imports having a big negative impact on the defecit.. so me not the only fuckwit
Terry!! You must truly be a fuckwit of gargantuan proportions if you are paying VAT on buying gold.
Just search for "gold coins" on the Revenue & Customs website. http://www.hmrc.gov.uk/index.htm
Investment coins, including Krugerrands & American Eagles are VAT free!
And where does this $2-3 trillion come from?
The Credit Fairy?
Just sighted, UFO's are landing and offering to buy Euro bonds. It just so happens that they have 2.1 Trillion.
What luck!
Quick, call Krugman and start the war machine. We can take care of all this 'recession' business at once. Scramble the F-16s. It's on!
War is the end game of Drugman's arguments. I hadn't read that before.
I mean if earthquakes and hurricains are good, war is a Godsend.
Benny and the (Ink)Jets
Oh dear. The family gathering will be a frosty affair chez Sarkozy this Christmas....
Don't worry. I don't think Hungarian Jews celebrate Christmas. Frosty-ness spared.
It's almost noon. Time for them to float a rumor.
This is getting ugly. Look at Belgian and German intraday bond yields!
Belgium Dexia Debt Woes, Germany's Debt Issuance Debacle - Obama Spares Two Turkeys (NOT Belgium and Germany)
http://confoundedinterest.wordpress.com
Looks like the Belgians are starting to waffle on their bonds.
SDRs! Get your piping hot SDRs here!
It was refreshing to hear a bit of truth instead of the typical everything is great, America's best days are ahead of it fluff (Trump, Langone, etc.), without actually acknowledging the elephant in the room, global involvency.
Sarkosy and Kyle Bass are so calm and confident and contrast that to the Bernank who looks and sounds like he's going to pee his pants any second. Makes me quite sure who I can believe in!
Without a doubt, two very confident and competent people.
It helps when you believe what you are saying...
Hey Mr. Sarkozy do you need a good caretaker for that nice farm of yours? Will work for food and lodging.
"Sarkozy: Europe's "Liquidity Run" Has Begun Because There Is An Unsolvable $30 Trillion Problem"
30 trillion here, 30 trillion there. Before you know it, it all adds up to some "real" money. :)
Buy Gold and Silver, then have some Precious Metals for lunch.
Just imagine what would happen should the spell ever be broken on a global scale.
I think we are there.
Just imagine what would happen should the spell ever be broken on a global scale.
Yeah... welcome back to history.
And here is what is being propagated to the masses:
http://blogs.wsj.com/marketbeat/2011/11/23/sarkozy-warns-of-euro-zone-co...
Quick, start buying! It was all a mistake. yeeeech!
Gives new meaning to "shitting a brick".
A $Trillion is not what it used to be....
+ cuz that looks delicious. What is that?
Gold foil with some sort of super chocolate bowl?
Or is it gold foil with a truffle?
mmm...
I still love Europe and Europeans.
Most of us real Americans do.
However dependency must be stopped and socialism must die.
Bye bye socialism. We heardly knew ye.
yeah socialism was the problem, oh brother..Where do you people come from.. oh yeah. FOX ..
Well....they certainly arent wasting all that money on military spending unlike the USA.
Pray tell, then where is this insurmountable debt and suffocating tax money being spent?
Transfer payments, government make work jobs, etc. Free shit for the people!
Or perhaps you have a chart that shows some other way this money is being spent? Ninety percent is to government workers and transfer payments either direct or indirect
The European socialists ran out of OPM a long time ago. Now they borrow money with the pledge their descendents will pay it back.
The money goes to paying off bets idiot. Where the hell have you been, under a rock?
calling fascism socialism makes you as smart as fux news. Well, not really, they know they can't tell the truth or they lose a job.
exactly, the problem isnt and has never been that some governemnt worker gets decent dental coverage. ALl that does is circulate money within an economy.
The problem lies in allowing our banks to leverage themselves 30 to 1, and then come running to mommy anytime anything spooks them. The problem lies in de regulation, in unbridled usury, in crony capitalism.
Turn Fox off then, go back to MSNBC where you feel warm all over....and wait for the end.
end of what? please people and their thunderdome fantasies. America is just gonna turn into mexico. Last I checked mexico still exist and people arent cage fighting in the streets.
Pretty sure they do cage fight in the streets. After you kill all the police in your town it's easier to get a permit.
Booming business in tires down there.
yeah and its not like we in the US dont have 1.3 million gang members and large parts of every american city that you cant even think about walking around in after dark, oh yeah actually we do
In Mexico there are large parts of THE COUNTRY you can't walk around DURING THE DAY in.
If that is where we are heading it sounds pretty Thunderdome to me.
and +3 million in prison. what a wonderful statistic.
Wall Street get 4 times more money than the U.S. Military.. The U.S. Military is running how mnay wars? But Wall Street get 4 TIMES MORE TAX DOLLARS!
WAKE UP!
Poor People.. Social Security.. Un-Employment Benefits..
If you take ALL! the social services of America.. and add them up.. it equals 7% - 8%.. in this economy.. so 3% - 5% in a strong economy.. of GDP.. We in America.. Regardless of what the Tax Rate is supposed to be.. can NOT! collect over 8% in taxes??
The Tax Loop Holes??
Never mind, You dumb fucking sheep dont want to know the truth! you want to re-enforce your own ignorance.. now go google something until you find someone who agrees with your ignorance.. dont pick up a calculator and figure out this shit for yourself.
The Top 0.1% Of The Nation Earn Half Of All Capital Gains
By Robert Lenzner | Forbes – 10 hrs ago
Capital gains are the key ingredient of income disparity in the US-- and the force behind the winner takes all mantra of our economic system. If you want even out earning power in the U.S, you have to raise the 15% capital gains tax.
Income and wealth disparities become even more absurd if we look at the top 0.1% of the nation's earners-- rather than the more common 1%. The top 0.1%-- about 315,000 individuals out of 315 million-- are making about half of all capital gains on the sale of shares or property after 1 year; and these capital gains make up 60% of the income made by the Forbes 400.
It's crystal clear that the Bush tax reduction on capital gains and dividend income in 2003 was the cutting edge policy that has created the immense increase in net worth of corporate executives, Wall St. professionals and other entrepreneurs.
The reduction in the tax from 20% to 15% continued the step-by-step tradition of cutting this tax to create more wealth. It had first been reduced from 35% in 1978 at a time of stock market and economic stagnation to 28% . Again 1981, at the start of the Reagan era, it was reduced again to 20%-- raised back to 28% in 1987, on the eve of the October 19 232% crash in the market. In 1997 Clinton agreed to reduce it back to 20%, which move was an inducement for the explosion of hedge funds and private equity firms-- the most "rapidly rising cohort within the top 1 per cent."
Make no mistake; the battle that is to be fought over the coming attempt to reverse this reduction in capital gains will be bloody and intense. The facts are clear according to the Congressional Budget Office more than 80% of the increase in income inequality was the result of an increase in the share of household income from capital gains. In fact, you can go so far as to claim that "Capital Gains income is the most unevenly distributed-- and volatile-- source of household income," according to Laura D'Andrea Tyson, University of California business professor and former chairwoman of the Council of Economic Advisers under President Clinton.
No wonder the super wealthy plutocrats obtained the largest share of national income-- 25% of the nation's wealth- greater than any other industrial nation in the the period of 1979 to 2005. Make no mistake; after unemployment-- this disparity between the 1%-- 3 million-- or the 0.1%-- the 300,000-- and the other 312 million citizens of the U.S. has become the major theme of the Occupy Wall Street movement-- and an important national debate.
I commend you to the late Justice Louis Brandeis warning to the nation that " We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." We have to make up our minds to restore a higher, fairer capital gains tax to the wealthiest investor class-- or ultimately face increased social unrest.
http://news.yahoo.com/top-0-1-nation-earn-half-capital-gains-172647859.html
I would like for you to materially distinguish between socialism and crony capitalism.
Jesus - tyranny is tyranny.
Funny you should mention religion there...
Don't feed the trolls.
crony capitalists care not if they live in feudalism or socialism as long as they can codify the laws to provide themselves wirh subsidies and rent seeking opportunities.
They really hate free markets with no bailouts. They dont want to have to actually face real compwtition and the possibility of failure.
right, thats crony capitalism, thats not socialism.
That is literally the same thing that occurs in the real world once socialism is implemented. We have been warned of this numerous times, probably the most notable is the observation that some animals are more equal on animal farm. It is ALWAYS about the concentration of power to a few... there is no discernable difference, materially, between the two. What is the real difference between being a member of the "party" and being a "crony"?
To answer my own question, about the only possible distinction is that the barking dogs are fed just a few more table scraps under a crony capitalist society... or that crony capitalism is just a stop ahead of socialism on the line of economic models when viewed from the perspective of individual sovereignty.
What this collapse will prove is that the boom bust cycle and the machinations of the past economic systems are total failures and something more stable is necessary. Hopefully we can devise something on the fly that is a perfect solution. I'm not holding my breath.
not even close. Mu god is our educational this bad? oh right it is.
Crony capitalism is the raping of a countries resources by a few for the few under the protection of the few. Read your american history, almost all the wealthiest families got so with the help of US resource giveaways.
Paying middleclass workers a livable salary is not the problem.
God damn so many are so easily mindfucked.
And, about that top brass of the party???
Let's see. Wiki has a definition of economic socialism that goes:
Socialist economies are based upon production for use and the direct allocation of economic inputs to satisfy economic demands and human needs.
Cronie capitalism is when friends of the government who are in control of various corporations and too big to fail financial institutions decide on the use and the direct allocation of economic inputs to satisfy their own economic demands and human needs.
It's all about who's driving.
Entropy is refreshing. I think your definition of CC is very close to the goals of fascism circa 1933-2012. The kind our banks banked on for a profit in hard times.
that's right. it's about who's driving. last i looked, it was the government/ military & scientist, etc., that wanted a internet back in the late 50's - the early 60's visionaries of coast-to-coast direct communication was now a reality. fast forward half a century and the gov't/ military still controls content if push comes to shove.
the blog`osphere can be shut down easily to civilians! have you noticed the ham-radio operators setting-up shop all over the world. why? because content can be scrambled instantaneously on every server made in the world with manufacturer's internal codes ready to implement on 'big brother's command'
ref: http://www.walthowe.com/navnet/history.html
PS. wiMAX & Clearwire's love affair
PS2. in the late 80's & early 90's when prime GHz. spectrum was being auction by the FCC,... a few company's bought up some very valuable spectrum, but soon went bankrupt --- court battles ensued, but the acquirer still held title to their 'coveted spectrum' without having to give up the spectrum bought. nice for Clearwire,... wouldn't you say
i've seen, and said enough james - now drive on,...
No difference, when they are both broke and can't pay their bills.
there is PLENTY of money, the wrong people have it.
I think the present choices (by design) are: let them keep it or watch it disintegrate...
Now, we can build something in the rubble that might be better and more fair... but as for there being plenty of NET money, *borat voice* not so much.
The other aspect you're ignoring is that there is no objective way to determine who the right and wrong people are to have it... hence laws... and, within the confines of the law, there are a shit ton of people that have reached incredible levels of success. Of course, there are plenty of people who broke the laws (even with the ability to buy changes in the laws, tsk tsk) to get where they are...
The trick is differentiating between them and not painting a broad brush. Unfortunately, the mob likely cares not.
objective way to determine who is entitled to it? wtf, thats easy. Distribution of wealth should be fairly equitable across the working class, not all in the hands of the few.
Are you really this ignorant? or do you just work for fox?
The key word is "should." See, this is what academics use for naively idealistic theories. I'll posit that when met with the real world, your distribution scheme eats itself as the incentive to initiate, create, and produce is destroyed.
Redistribution doesn't exist in a vacuum.
As the soviets said, "we pretend to work, they pretend to pay us." This is the inevitable conclusion. Collapse.
Having Big Brother expropriate property, at the point of a gun, from Peter to give to Tom, Dick & Harry is NO DIFFERENT than outright theft!
You cannot give Govt. Officials any rights that you do not have yourself.
You have the right to protect your own life, liberty, and justly acquired
property from the forceful aggression of others. So you may rightfully ask others to help protect you. But you do NOT have a right to initiate force against the life, liberty, or property of others. Thus, you have NO right to designate some person to initiate force against others on your behalf.
"there is PLENTY of money, the wrong people have it."
So, what do we do about that? Tax it out of their hands, or just steal it?
yeah, you tax away the greed. Pretty simply stuff actually. Thats what progressive taxes do.
We already have progressive taxes... what's your plan B?
Have IRS agents and other assorted Govt. Goons/Thugs bash down doors and simply take property, oh wait...
In this respect I think the following is the difference:
Socialism - Buying the votes of the unproductive masses by giving them 'free shit' from .gov ala redistributing the wealth of the productive to the unproductive
Crony Captialism - Letting others pay for your campaigns by giving them 'free shit' from .gov
Looks like they have run out of other peoples money. The problem with socialism or chrony capitalism.
socialism, such as allowing for a worker to have heathcare just circulates money within an economy. ANd in the end the person gets healthy, the doctors, nurses, hospital, equipment makers get paid, and the economy ticks along. The problem comes with crony fake capitalism, when money is sucked out of an economy via some scum ball Goldman like company.
Liquidity extraction is the problem, not a government worker being paid a middleclass wage.