usa people, what if capitalism finaly led to the following scenario:

[galeniko]

Well, one question is whether there is a viable alternative system on offer. If not, it doesn't make sense to say that the current system isn't the 'way to go,' since it is the only way to go -- unless one wants to stop 'going' altogether, like some apocalyptic group.

Anyway, there are always opportunities to make money around the world, so a nasty labor market at home wouldn't necessarily mean a life of serfdom for Americans.

i see it the same way, just find it interesting that the usa is now labeled a low wage nation.many jobs ar eminimum wage or slight above.

not the worst scenario at all, i think to take handouts makes one even more dependnt on the system, the 1% will gladly pay for the handouts,theyre not stupid.

things will change as technology advances, but its specualtive to say it will go this or that way imo.

[syntaxmachine]

i see it the same way, just find it interesting that the usa is now labeled a low wage nation.many jobs ar eminimum wage or slight above.

not the worst scenario at all, i think to take handouts makes one even more dependnt on the system, the 1% will gladly pay for the handouts,theyre not stupid.

things will change as technology advances, but its specualtive to say it will go this or that way imo.

I think that the most difficult variable contributing to inequality in the future that Cowen describes is biological: assortative mating (i.e., the tendency of like phenotype to mate with like phenotype) combined with the heritability of intelligence. How can we stop the income-generating talent from congregating at the top, given these facts? We can't legislate biological facts away, so will we just redistribute some set of extra income from the top each year?

[galeniko]

I think that the most difficult variable contributing to inequality in the future that Cowen mentions is biological: assortative mating (i.e., the tendency of like phenotype to mate with like phenotype) combined with the heritability of intelligence. How can we stop the income-generating talent from congregating at the top, given these facts? We can't legislate biological facts away, so will we just redistribute some set of extra income from the top each year?

yes exactly.

his outlook looks rather sad.

most evrything looks like were headed there eventualy.

but never underestimate soem crazies who can pass some random laws.

[galeniko]

lol about the trickle down economy bullshit.

its promised or soemthing that if the glass is full, will overspill and trickle down to the poorer.

but reality shows haha, that the glass instead gets bigger and fuck all trickles down

ofc its not that simple.

[syntaxmachine]

yes exactly.

his outlook looks rather sad.

most evrything looks like were headed there eventualy.

I was going to say that the US military could soak up the below average folk as it is already wont to do -- leading to an even more militarized society -- but then thought that the trend Cowen discussed will probably happen there to, with drones/missiles/automated weapons, hahah.

[galeniko]

I was going to say that the US military could soak up the below average folk as it is already wont to do -- leading to an even more militarized society -- but then thought that the trend Cowen discussed will probably happen there to, with drones/missiles/automated weapons, hahah.

lol, or if some day military and police is privatised too

lol he lists personal trainer as one of the jobs that the lower class will have, if any

making it bbuilding related.

its not that the jobs arent there, currently at least, they just outsourced somewhere else, but these wont even exist anymore in some decades.

btw below average is the wrong term i thin, you meant below the elite who can "tell how many times the watch indicators cross etc"

[syntaxmachine]

btw below average is the wrong term i thin, you meant below the elite who can "tell how many times the watch indicators cross etc"

Assume income-earning ability is quantifiable. If 99% of the population has very little of it and 1% almost all of it, then the distribution of income-earning ability ought to be skewed such that most 99 percenters will be below average. So, let's say I was referring to people who are below average in this sense.

[Irongrip400]

LOL How many times would it take for you to have your house loose its value, loose your savings and pension before you change your mind ? Oh I know, never, your belives is all you got right and if we stop beliving bla, bla.

You have no idea how much those Wall Street guys laugh and ridicule people like you, you might not belive it but I have witnessed it numerous times. They laugh of people that call FOX News and say that no matter how much they lost they still dont belive in regulation. "Thank god" thay say as they laugh and laugh.

I'm assuming English isn't your first language?

[Teutonic Knight]

lol, or if some day military and police is privatised too

They a already privatized,privately owned (mostly ex-military owners) security companies a guarding military facilities (no need to mention
cleaning services,etc,.),more western protection services in Afghanistan than Nato soldiers,99% of all supply for the army is produced by
non military,in Melbourne & Sydney local councils sub-contract security & they co-operate with cops,in Melbourne they work on trains,
in famed mag 'Soldier of Fortune' well known names a discussing creation of something like American Foreign Legion (factually US used
foreigners in Central America & Korean war  ).

Attended Eugene Kaspersky's press conference 5 weeks ago, he mentioned contracting 3 Nato countries in EC + opening offices
in the US (no Russians or Russian Americans will be employed).

[arce1988]

POTY Galeniko!

[headhuntersix]

They a already privatized,privately owned (mostly ex-military owners) security companies a guarding military facilities (no need to mention
cleaning services,etc,.),more western protection services in Afghanistan than Nato soldiers,99% of all supply for the army is produced by
non military,in Melbourne & Sydney local councils sub-contract security & they co-operate with cops,in Melbourne they work on trains,
in famed mag 'Soldier of Fortune' well known names a discussing creation of something like American Foreign Legion (factually US used
foreigners in Central America & Korean war  ).

Attended Eugene Kaspersky's press conference 5 weeks ago, he mentioned contracting 3 Nato countries in EC + opening offices
in the US (no Russians or Russian Americans will be employed).

The point of departure comes when the big PMC's...Aegis, Triple Canopy...the new Blackwater and the others begin to operate against the foreign policy of the US and NATO. Its still a massibe growth industry except the fortune 500 is begining to pay the bills instead of Uncle Sam.

[Mr Nobody]

I am doing calf raises every day to over come this shit.

[The True Adonis]

Morons,

The distribution of wealth has been about the same for over 100 years. 

Year    Bottom 99%    Top 1%
1922    63.3%    36.7%
1929    55.8%    44.2%
1933    66.7%    33.3%
1939    63.6%    36.4%
1945    70.2%    29.8%
1949    72.9%    27.1%
1953    68.8%    31.2%
1962    68.2%    31.8%
1965    65.6%    34.4%
1969    68.9%    31.1%
1972    70.9%    29.1%
1976    80.1%    19.9%
1979    79.5%    20.5%
1981    75.2%    24.8%
1983    69.1%    30.9%
1986    68.1%    31.9%
1989    64.3%    35.7%
1992    62.8%    37.2%
1995    61.5%    38.5%
1998    61.9%    38.1%
2001    66.6%    33.4%
2004    65.7%    34.3%
2007    65.4%    34.6%
2010    64.6%    35.4%
Sources: 1922-1989 data from Wolff (1996), 1992-2010 data from Wolff (2012)[23]

[headhuntersix]

Yeah but..those on the bottom are less self sufficient. They are being forced to rely more on Uncle Sam and are less prepared to take care of themselves...skill wise.

[The Abdominal Snoman]

a very small elite and youre not part of that, owns prettu much everything and the vast majority cant make ends meet even if fully employed.

not like today ,but much much worse.where the 99% literaly cant afford to live.


would you still think the current economical system is the way to go?

what if the 1% offered to pay the necesary hand outs-top ups so everyone can make just ends meet, but no more.but no other change to the system.

and lets assume the market will not magicaly keep everything in check.

so?

With technology advancing at a rapid pace, the elite have so many weapons at their disposal to fool society as a whole. The majority will never even realize how bad they have it because they will continue to be told how bad it is outside of where they are(not unlike the book 1984)...The advancement of hologram technology sets the stage of unthinkable forms of control...

[che]

Morons,

The distribution of wealth has been about the same for over 100 years. 

Year    Bottom 99%    Top 1%
1922    63.3%    36.7%
1929    55.8%    44.2%
1933    66.7%    33.3%
1939    63.6%    36.4%
1945    70.2%    29.8%
1949    72.9%    27.1%
1953    68.8%    31.2%
1962    68.2%    31.8%
1965    65.6%    34.4%
1969    68.9%    31.1%
1972    70.9%    29.1%
1976    80.1%    19.9%
1979    79.5%    20.5%
1981    75.2%    24.8%
1983    69.1%    30.9%
1986    68.1%    31.9%
1989    64.3%    35.7%
1992    62.8%    37.2%
1995    61.5%    38.5%
1998    61.9%    38.1%
2001    66.6%    33.4%
2004    65.7%    34.3%
2007    65.4%    34.6%
2010    64.6%    35.4%
Sources: 1922-1989 data from Wolff (1996), 1992-2010 data from Wolff (2012)[23]

http://money.cnn.com/2006/08/29/news/economy/wealth_gap/

[headhuntersix]

With technology advancing at a rapid pace, the elite have so many weapons at their disposal to fool society as a whole. The majority will never even realize how bad they have it because they will continue to be told how bad it is outside of where they are(not unlike the book 1984)...The advancement of hologram technology sets the stage of unthinkable forms of control...

Look at TV and the propaganda being pushed. Gay issues....racial tensions etc. They make things better or worse then they seem. I don't think there are 10 guys sitting around caling the shots....its a overall ideology that drives this shit. There is no real reason why America hasn't gone of the falls other then some small shared cultural ideology that basically can't stand to be told what to do. Thats why immigration is such a threat. The basis of this thread is wrong..capitalism won't drive us there, leftwing ideology at odds with our Constitutional foundation and rights will leads us there.

[Roger Bacon]

Morons,

ROFL

[ESFitness]

a very small elite and youre not part of that, owns prettu much everything and the vast majority cant make ends meet even if fully employed.

not like today ,but much much worse.where the 99% literaly cant afford to live.


would you still think the current economical system is the way to go?

what if the 1% offered to pay the necesary hand outs-top ups so everyone can make just ends meet, but no more.but no other change to the system.

and lets assume the market will not magicaly keep everything in check.

so?

I'm not worried about being in the 1%.. with alllll the money in the world, it's a big pie.. enough for everybody, if you're ambitious and motivated enough to take it.

I'm a big fan of Jimmy Cayne, ex-CEO of Bear Stearns... I always think back to a quote of his. He said when he looked at hiring a new guy, he didn't care about MBA's or phd's or whatever.. he wanted a PSD.. somebody who was Poor, Smart, and with a Deep Desire to Get Rich.

if you're smart enough to "figure it out", you can make a lot of money. And by "figuring it out", I mean realizing that you can do whatever you want... it's just that most people don't.

another quote that sticks with me is from Steve Jobs, ex-CEO of Apple, who said “Everything around you that you call life, was made up by people that were no smarter than you.”

there's not a whole lot that separates most people from the 1%. it's either taking advantage of an opportunity, or creating an opportunity.

hell, like I said, it's a big pie... I don't care much about the top 1%... the top 5% do pretty well also.

[galeniko]

They a already privatized,privately owned (mostly ex-military owners) security companies a guarding military facilities (no need to mention
cleaning services,etc,.),more western protection services in Afghanistan than Nato soldiers,99% of all supply for the army is produced by
non military,in Melbourne & Sydney local councils sub-contract security & they co-operate with cops,in Melbourne they work on trains,
in famed mag 'Soldier of Fortune' well known names a discussing creation of something like American Foreign Legion (factually US used
foreigners in Central America & Korean war  ).

Attended Eugene Kaspersky's press conference 5 weeks ago, he mentioned contracting 3 Nato countries in EC + opening offices
in the US (no Russians or Russian Americans will be employed).

oh i know that "prince" guy with mercenaries, and the us govt is or was pushing to that direction.

ok this is still all humans, but the day its robots, then were fucked

adonis to throw that wealth distribution chart into this thread,in the light of the info from the book "average is over" is plain trolling,lol

[temple_of_dis]

a very small elite and youre not part of that, owns prettu much everything and the vast majority cant make ends meet even if fully employed.

not like today ,but much much worse.where the 99% literaly cant afford to live.


would you still think the current economical system is the way to go?

what if the 1% offered to pay the necesary hand outs-top ups so everyone can make just ends meet, but no more.but no other change to the system.

and lets assume the market will not magicaly keep everything in check.

so?

seems capitalist places are more fun as avg joe to be

communist russia had 1% of real jokers at top murdering 10s of millions of those who disagreed

china did even better about 50mil??

people criminally coming into USA where capitalism is most active, even though its far from unregulated, and we have tons of welfare, and welfare fed gov printing press

The rest of the world and USA should in my opinion lower gov spendinf 95% and end all welfare, allow unregulated factories and ending government education aka public school

prices would drop like a rock and houses in unregulated market would be cheap big and mass produced with ever better set of features like pc

[headhuntersix]

I'm not worried about being in the 1%.. with alllll the money in the world, it's a big pie.. enough for everybody, if you're ambitious and motivated enough to take it.

I'm a big fan of Jimmy Cayne, ex-CEO of Bear Stearns... I always think back to a quote of his. He said when he looked at hiring a new guy, he didn't care about MBA's or phd's or whatever.. he wanted a PSD.. somebody who was Poor, Smart, and with a Deep Desire to Get Rich.

if you're smart enough to "figure it out", you can make a lot of money. And by "figuring it out", I mean realizing that you can do whatever you want... it's just that most people don't.

another quote that sticks with me is from Steve Jobs, ex-CEO of Apple, who said “Everything around you that you call life, was made up by people that were no smarter than you.”

there's not a whole lot that separates most people from the 1%. it's either taking advantage of an opportunity, or creating an opportunity.

hell, like I said, it's a big pie... I don't care much about the top 1%... the top 5% do pretty well also.

Yeah people should be less impressed with some asshole and a Ivy League degree and more with experience. It may be the only good thing to come out of the latest economic disaster.

[temple_of_dis]

I'd say that would be better than what the US headed for. Wal mart has more money than 40% of the population combined. It's only going to get worse. Retards gonna retard.

Wal mart also has great products at very low prices.


 

If more of usa economic activity was liek wal mart, USA be richer and prices cheaper for all, and quality better.

[temple_of_dis]

Theres never been less regulation in the US than today. Wall Street are not regulated at all.
In the 70ies airline fares was actually regulated by the government, you didnt know that, but now you do.

Personally I am very happy that we got the Stupid Republican Middle Class (SRMC). The SRMC is always happy to pay the rich mans bills. Like when his house lost 65% of its value. When his pension almost vanished. When his stocks all got lost in 2008. If he doesnt wanna pay we just accuse him of beeing socialist. It works every single time.

So this is a personal thank you to Roger Bacon for always beeing there to take the loss and pay our bill. Thank You !

You surely are joking?

Regulations are 1000s of pages of laws.  EPA has drones..... wtf  are you in parallel universe?

[headhuntersix]

oh i know that "prince" guy with mercenaries, and the us govt is or was pushing to that direction.

ok this is still all humans, but the day its robots, then were fucked

adonis to throw that wealth distribution chart into this thread,in the light of the info from the book "average is over" is plain trolling,lol

Prince popularized the PMC's and took them into the 21st century but the concept had been alive and well in the 90's and before. Companies like Aegis doing all kinds of stuff, from logistics to intell. Before the bubble burst for Prince and he left Blackwater...he wanted to field an entire US modeled heavy brigade with its own armor and aircraft, self sufficient and hireable by anybody.