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Author Topic: The What The F*ck Thread  (Read 7482 times)

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Mac

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Re: The What The F*ck Thread
« Reply #120 on: May 02, 2012, 03:20:48 pm »
44 eh? Completely clueless and I wouldn't trust a word she says. She can NOT be in her right mind. Good lord.

and this totally unrelated but still a WTF moment.

Extremely rich guy says inequality is good


Le Douche

Quote
Maybe economic inequality isn’t such a bad thing after all.

At least that’s what a new book written by a rich, former Bain Capital managing director espouses. Even though the economic manifesto about how the 1 percent benefits the 99 percent hasn’t hit bookstores yet, it’s already getting heat from the 99-percent crowd and beyond.

“Unintended Consequences: Why Everything You’ve Been Told About the Economy Is Wrong,” by Edward Conard, 51, comes out next week. According to his publicist the book offers:  “A contrarian analysis of the recent economic crisis by a close associate of Mitt Romney. (It) promises to be one of the year's most talked-about books on the subject.”
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Indeed, social media is already lighting up over the book, prompted mainly by an article in the New York Times Magazine, published online Tuesday, titled: “The Purpose of Spectacular Wealth, According to a Spectacularly Wealthy Guy.”

The writer of the magazine piece, Adam Davidson, founder of NPR’s Planet Money blog and podcast, surmised: “This could be the most hated book of the year.”

This from his article:

Conard understands that many believe that the U.S. economy currently serves the rich at the expense of everyone else. He contends that this is largely because most Americans don’t know how the economy really works — that the superrich spend only a small portion of their wealth on personal comforts; most of their money is invested in productive businesses that make life better for everyone. “Most citizens are consumers, not investors,” he told me during one of our long, occasionally contentious conversations. “They don’t recognize the benefits to consumers that come from investment.”


As for the argument that spreading the wealth helps society, Conard's book turns that on its ear, taking positions that would make even Tea Party members bristle, Davidson writes.

More...

I'm lost for words, but I just hope this kind of thinking does not continue to escalate. I honestly think we will have problems with Mit Romney if elected. The Wealthy do not have one clue to those who don't. Unless they want to give my their money, I don't want to hear anything from them.
« Last Edit: May 02, 2012, 03:24:44 pm by Mac »
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