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View Full Version : Wealth Inequality in USA , explained by Brit! Funny


FoxHunter
15th Jul 2014, 14:45
Last Week Tonight with John Oliver: Wealth Gap (HBO) - YouTube (http://youtu.be/LfgSEwjAeno)

The Professor
15th Jul 2014, 15:17
"The haves and the going to haves/the american dream/pulling yourself up by the bootstraps"

All just doublespeak designed to ensure the masses continue slaving away in the steel mill without arguing instead of revolting against the broken system and its clever architects.

Vertical mobility in the US is now more difficult than any industrialised country, the American dream became a nightmare the day Nixon ended the gold standard and turned the economy into one of debt based consumerism.

Flash2001
15th Jul 2014, 15:31
Nixon ended the gold standard?

That dog ain't gonna hunt...

con-pilot
15th Jul 2014, 15:42
Actually Franklin D. Roosevelt took the US off the gold standard on June 5, 1933.

BenThere
15th Jul 2014, 15:52
The gold standard and US monetary policy have only a tangential impact on the American Dream.

The American Dream was, and is, the opportunity to educate and qualify yourself to pursue material wealth, freedom to choose your path, rule of law to protect you, and a fair chance to apply your industriousness and intelligence with the objective of achieving your intellectual and economic potential.

The dream is still there, though sinister forces are constantly at work to diminish it. For example, our children can't expect to be functionally educated by the state systems in place; they must pursue the dream on their own initiative and creativity. The internet is the greatest tool they have for their own development and growth.

Social and economic mobility is fluid still. Someone born into the most squalid circumstances can still rise to the top.

I was born to a very modest, but high values family in inner-city Detroit. I was over twenty years old before I had my first ride in a chauffeur-driven Rolls Royce. Can you imagine that sort of trauma?

Flash2001
15th Jul 2014, 16:03
Con

Yeah, and I think Johnson made the private ownership of gold legal again in about '65 or'66.

After an excellent landing etc...

con-pilot
15th Jul 2014, 16:08
I was over twenty years old before I had my first ride in a chauffeur-driven Rolls Royce

Good God man, you actually admit that in public. :eek:


However, as we are baring our souls. I must admit that once I had to be transported to school via a common, public ground conveyance, I think it was called a 'Yellow Tab" or something like that. So you can imagine my overwhelming and everlasting shame and embarrassment.

Chauffeur claimed to have broken his leg. Said he couldn't drive just because a bit of bone was sticking out of his leg. Of course mother fired him on the spot, quickly had him removed from the property and thrown out on the street.

Served him right it did, if he was going to be so inconvenient as to break his leg, he could have done such on his one day year he had off. Ungrateful sod.

BenThere
15th Jul 2014, 16:10
Actually, Americans' right to own gold was restored in 1975. As far as I know, that was the only positive achievement of the Carter administration, though I think the Nixon administration actually authorized it in 1974.

Edit to add: Further research revealed that the right to own gold was conferred on Jan. 1, 1975, before the Carter administration was seated. Thank Nixon.

con-pilot
15th Jul 2014, 16:25
Edit to add: Further research revealed that the right to own gold was conferred on Jan. 1, 1975, before the Carter administration was seated. Thank Nixon.

Nixon also removed the fixed price of $35.00 an ounce on gold as well.

Flash2001
15th Jul 2014, 16:36
Well, I'm learning something here I think. Mind you most of this is Wikipedia. It seems the US would still settle its debts in gold up to Nixon's time. It was private ownership of gold that Roosevelt scuppered. One learns something every day.

After an excellent landing etc...

BenThere
15th Jul 2014, 16:55
Roosevelt was a progressive. He forced gold holding American citizens to sell their gold at $20/oz, with criminal penalties if they held back. As soon as he got all the gold he was going to get, he raised the price to $35/oz. Instant profit for the government.

The smart folks kept their gold for a rainy day, just like they do today.

Matari
15th Jul 2014, 19:16
Let's see, a tedious, pompous Brit comes to the US and makes a fortune, by making snarky comedy bits about....income inequality?

Who says we don't get irony?

spInY nORmAn
15th Jul 2014, 20:28
I actually learned quite a bit from this video (part of a series). It's worth a look:

iFDe5kUUyT0

FoxHunter
15th Jul 2014, 21:23
I actually learned quite a bit from this video (part of a series). It's worth a look:

That well done video is said to be a scam. Lots of half truths.

Debunking ?The Biggest Scam In The History Of Mankind? | PRAGMATIC CAPITALISM (http://pragcap.com/debunking-the-biggest-scam-in-the-history-of-mankind)

con-pilot
15th Jul 2014, 21:47
That well done video is said to be a scam. Lots of half truths.


Said by progressive, so-called liberal Democrats, that wouldn't know the real truth if it hit them in the face. :rolleyes:

Cacophonix
15th Jul 2014, 21:54
As somebody who loves stats (not the lies and delusion of course). I ask those who want to know to look at the Index or the Gini coefficient as we love to call it...

That's my serious mature comment for tonight. On a less serious note I wonder what kind of good whisky a decent bloke from Oklahoma drinks when he is bored?

I swore I was not going to post a music video out of context but I am...

J J Cale Stone River - YouTube

Caco

con-pilot
15th Jul 2014, 22:05
On a less serious note I wonder what kind of good whisky a decent bloke from Oklahoma drinks when he is bored?


You'd always be welcome in my bar/Pub in my house and try mine. :ok:

BenThere
15th Jul 2014, 22:15
They drink Wellers and water if they know what's good for 'em.

brickhistory
15th Jul 2014, 22:26
Never mind that Oliver (who is just not that funny. The smarminess grows thin quickly) obtained his US citizenship.


And I'm fairly sure that his HBO salary is much higher than my income.


If he's serious, I can accept his check...

The Professor
16th Jul 2014, 03:18
“Nixon ended the gold standard? That dog ain't gonna hunt...”

“Actually Franklin D. Roosevelt took the US off the gold standard on June 5, 1933.”

Yes, I posted with low coffee intake this morning. BW ended in 71 although this was effectively the end of a form of gold standard and the beginning of an effective oil standard.

“As soon as he got all the gold he was going to get, he raised the price to $35/oz. Instant profit for the government.”

Correct, the first in a line of US defaults.

“That well done video is said to be a scam. Lots of half truths.”

Actually, the video is pretty close to the mark but the debunking video is not so.

The Professor
16th Jul 2014, 03:42
https://www.youtube.com/watch?v=OgNb83Y0CoY

Another video from the same author. Its spot on.