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Old 12-05-2012, 02:48 PM #1
katsung47
 
 
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Middle Class Net Worth Collapses to 1969 Levels

Middle Class Net Worth Collapses to 1969 Levels

According to the study, we are now back to 1969 levels with respect to median net worth in this country. A large part of this is the housing crisis we've yet to recover from, which cost the middle class 18% of its net worth. The news isn't much better with respect to median incomes, which have dropped to $26,364, setting us all the way back to 1999.

http://www.breitbart.com/Big-Governm...to-1969-Levels
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Old 12-05-2012, 02:49 PM #2
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Another breitbart poster?

I thought we got rid of FE?
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Old 12-05-2012, 02:51 PM #3
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If we wanted to read a continual stream of breitbart articles, we would go read breitbart...

Edit: Damn it, F1!
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Old 12-05-2012, 02:52 PM #4
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Quote:
Originally Posted by TheSilentAssassin View Post
If we wanted to read a continual stream of breitbart articles, we would go read breitbart...

Edit: Damn it, F1!
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Old 12-05-2012, 04:37 PM #5
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People don't actually take these guys seriously do they?

In one article this guy says...
Obama rigged the election,
The top 1% secretly supported Obama,
Big Business supported teh Democrates because they like strict government regulations which keep competiors out of the market,
Reaganomics (which ended teh early 80's econ crisis) was Reagan "getting out of the way of the economy" by not getting involved in it.
And Obama created the debt ceiling and the physical cliff.
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Old 12-05-2012, 05:42 PM #6
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Some of that stuff makes sense. The bats **** crazy clock is right twice a day.
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Old 12-06-2012, 09:23 AM #7
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Quote:
Originally Posted by barrel roll View Post
Some of that stuff makes sense. The bats **** crazy clock is right twice a day.
1. Nope, not possible.
2. May-be a few did but the majority sided with Mitt
3. This does sort of make sense until you really think about it. If government regulation makes it so cost prohibative to enter a market that it keeps competitors out, than it also means that your profit margin is very small or the market itself is very small. If you had large profits or a large market companies that have large capital that could afford to enter the market or large economies of scale that could make up the cost of entering through volume of sale would. Either way the only way this could work would be such a niche market that there would be so few companies in that niche that they wouldn't have any pull with the Fed.

TLR version... Hyper government regulation only protects niche markets from competition which make up only a fraction of the market.

For example: Gov regulation protects uranium companies like Uranium One from competition because start up costs are high and the market is demand is low. So Joe-Bob mining can't enter the market because it cost to much in permitting and NRC red tape and big companies like KE that can afford the cost to enter stay out becuase they can make a lot more money mining coal, copper, and iron on mass scale.

That by no means supports the belief that the mining community supports strict government regulation because teh only people it is "helping" is the the handfull of uranium miners. I am sure the thousands of coal and other mining companies would be overjoyed to have less MSHA oversight.


4. No, just no.
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Last edited by Lazarusrat : 12-06-2012 at 09:25 AM.
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Old 12-07-2012, 11:42 AM #8
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Regurgitating Breitbart articles really only makes sense when you follow the following steps:

1. Take a LOT of Advil.
2. Use a small circular saw to remove the top of your skull (this is the worst part).
3. Gently (very important) remove your brain and store it safely (or not, your choice).
4. Re-post Breitbart insanity on the Internet.
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