Inequality

[VladimirIlyich]

The only thing monetary expansion creates is inflation and inflation is just a form of additional government tax on incomes and people's savings which depreciate in relation to the newly created money. Unless you are USA and can transfer some of that to other countries where people will be buying your currency.

Inflation is bollocks. Inflation is always high to ordinary people so its fluctuation makes very little difference. The so called indicators are a farce and deliberately chosen to avoid the really high costs to the man or woman in the street.

[Neil G]

The only thing monetary expansion creates is inflation and inflation is just a form of additional government tax on incomes and people's savings which depreciate in relation to the newly created money. Unless you are USA and can transfer some of that to other countries where people will be buying your currency.

A small amount of inflation isn't necessarily a bad thing. The way you describe things is as if incomes staying static and people being unable to save more, thereby making inflation an unqualified negative, is an immutable law of economics. It's not, it's the direct product of an economic system consciously chosen and maintained by a greedy minority in order to further their own interests at the expense of the majority. It doesn't have to be that way.

 

I presume you're actually referring to hyperinflation, hence the Venezuela reference. I was actually expecting someone to lead with Zimbabwe or Weimar Germany, but it's all good. What those three countries had in common, and what makes them different cases from the UK, is that they had no spare productive capacity as their economies were in the tank. Consequently market forces didn't have the scope to provide a level of competition between providers of goods and services that would have kept prices down.

 

Saying monetary expansion creates nothing but inflation is just ignorant. If it's targeted in the right manner to fund government investment it can create jobs, increase productivity and boost exports. Moreover it can be used to bring down the cost of living by investing in things like affordable housing and cheaper energy, which can help to offset inflationary effects. The possibilities are far more complex and promising than you portray.

[SasaS]

Inflation is bollocks. Inflation is always high to ordinary people so its fluctuation makes very little difference. The so called indicators are a farce and deliberately chosen to avoid the really high costs to the man or woman in the street.

 

Indeed.

[SasaS]

A small amount of inflation isn't necessarily a bad thing. The way you describe things is as if incomes staying static and people being unable to save more, thereby making inflation an unqualified negative, is an immutable law of economics. It's not, it's the direct product of an economic system consciously chosen and maintained by a greedy minority in order to further their own interests at the expense of the majority. It doesn't have to be that way.

 

I presume you're actually referring to hyperinflation, hence the Venezuela reference. I was actually expecting someone to lead with Zimbabwe or Weimar Germany, but it's all good. What those three countries had in common, and what makes them different cases from the UK, is that they had no spare productive capacity as their economies were in the tank. Consequently market forces didn't have the scope to provide a level of competition between providers of goods and services that would have kept prices down.

 

Saying monetary expansion creates nothing but inflation is just ignorant. If it's targeted in the right manner to fund government investment it can create jobs, increase productivity and boost exports. Moreover it can be used to bring down the cost of living by investing in things like affordable housing and cheaper energy, which can help to offset inflationary effects. The possibilities are far more complex and promising than you portray.

 

Good luck with that.

[njackets]

Oxfam's message to billionaires, on the eve of the Davos summit.

https://act.oxfam.org/great-britain/sign-a-letter-to-world-s-billionaires?pscid=ps_ggl_01-Brand-High+Vol_davos_sitelink&gclid=Cj0KEQiA-_HDBRD2lomhoufc1JkBEiQA0TVMmuBbYbnY9GQbfkXqqoY3pwrlEkovYpCTRyA7NdZBG20aAjD_8P8HAQ&gclsrc=aw.ds&dclid=CNrPu52bx9ECFSqA7QodSe8A0Q

 

We're calling on you to ensure that you:

 

Don’t dodge taxes in your own countries, or in countries where you invest and operate, by using tax havens. Any companies you own or control should release detailed financial information about activities in all the countries they operate in – including tax havens – so that the public can judge whether your companies truly pay taxes where they do business. You should make public all the investments in companies and trusts for which you are the ultimate beneficial owner.

 

Demand a living wage in all the companies you own or control, and limit excessive executive pay.

 

Support increasesin taxes on wealth and high incomes, to allow for the provision of universal healthcare education and social protection for citizens.

 

Do not use your economic wealth to seek political favours that undermine fair competition in the market and the democratic will of your fellow citizens.

 

Ensure your wealth is invested ethically and promotes a more progressive, equitable economy.

 

Challenge other economic elites to join you in these pledges.

These Oxfam top brass are on close to 100k a year I heard.

 

People in glasshouses!

[Section_31]

These Oxfam top brass are on close to 100k a year I heard.

 

People in glasshouses!

 

While I don't disagree, that's the whole Champagne socialist argument isn't it? That demanding a fairer society means you should have to live in a cardboard box and wash your balls in Sefton Park. 

 

Individuals aren't the issue, bankers aren't the issue nor are CEOs, what's the issue is too much of a resource being concentrated in one place. For money read water or air, it's no different. It's lunacy. 

[Rico1304]

If a charity head earning £100k is value for money who the fuck cares?

[stringvest]

These Oxfam top brass are on close to 100k a year I heard.

 

People in glasshouses!

 

 

are you really so stupid?  You sound like the shite that the red tops come out with in order to fire up the mentally subpar.  Fuck off with that shit njackets - it offers nothing to the debate, and no-one on here (apart possibly you)  is stupid enough to be exercised by that crap.

[Rick Sanchez C-137]

If a charity head earning £100k is value for money who the fuck cares?

 

This. Why is 100k some arbitrary figure that no-one is allowed to earn? They could be earning the charity millions more each year.

[thegreatelephant]

nothing to do with what some Charity bosess earn, but we would see what proper devastation would look like if all charity was withdrawn for a month in this country. that's for sure.

[AngryOfTuebrook]

The previous CEO of Oxfam, Barbara Stocking, took a 30% pay cut when she got the job. She then froze her salary for 5 years.

 

It's probably fair to say that Oxfam is not the leanest of aid agencies, but even so, only 9% of donations goes on administration and staffing costs.

[Section_31]

Great success!

 

[setreal]

Hah. I'm in the dark blue so fuck the lot of youse.

[cloggypop]

Me too!

[Rick Sanchez C-137]

Hah. I'm in the dark blue so fuck the lot of youse.

 

 

Me too!

 

[Section_31]

I note the Axis powers and their former allies are all doing great, that's some Man in the High Castle style shit right there.

[Stickman]

Hah. I'm in the dark blue so fuck the lot of youse.

 

 

Me too!

 

 

Out of towners

[SasaS]

I note the Axis powers and their former allies are all doing great, that's some Man in the High Castle style shit right there.

 

It's the hidden gold and Rembrandts.

[mattyq]

I note the Axis powers and their former allies are all doing great, that's some Man in the High Castle style shit right there.

Hungary and Romania not so well

[Hades]

Boomers skullfucked the planet and every future generation is going to pick up the tab.

[polymerpunkah]

How does this concentration of wealth fit into the whole "invisible hand" thing?

 

Competition leading to market effeciencies, lower prices, innovation, etc.

[mattyq]

How does this concentration of wealth fit into the whole "invisible hand" thing?

 

Competition leading to market effeciencies, lower prices, innovation, etc.

Perfectly

Competition gives you winners and losers

The winners accumulate capital and become stinking rich

The same way planets and stars distort gravity so do rich entities distort the market

[Section_31]

How does this concentration of wealth fit into the whole "invisible hand" thing?

 

Competition leading to market effeciencies, lower prices, innovation, etc.

 

It doesn't, but capitalism by its nature is short sighted and greedy and doesn't know where to stop. Saw a thing a while back with the head of Amazon basically saying one day he expects a mob to come for him with pitchforks. 

[Hades]

Capitalism is reverse communism, for all those reverse racism/misandry fans.

[Strontium]

Capitalism is reverse communism, for all those reverse racism/misandry fans.

 

As the famous saying goes:

 

Under Capitalism, man exploits man; under Communism, the reverse is true.