9% of the World owns 79% of the Wealth.

[Vendetta21]

Re: 9% of the World owns 79% of the Wealth.

Don't quote me on this, but I've heard somewhere that if all resources in the world were distributed evenly, all people would be upper-middle class.

Yes, but the next step to take from that thought is what is a healthy wealth distribution. Distributing wealth evenly is impossible, but given what you or I understand about society what do we think would be the wealth distribution in a world that is Generally Good?

[DossarLX ODI]

Re: 9% of the World owns 79% of the Wealth.

I'm pretty sure that in order to distribute wealth more evenly (not perfectly though), you'd have to make sure there aren't any oligarchies.

[Vendetta21]

Re: 9% of the World owns 79% of the Wealth.

I'm pretty sure that in order to distribute wealth more evenly (not perfectly though), you'd have to make sure there aren't any oligarchies.

Maybe true. Another (maybe even the same as your thinking) way is to change tax brackets so that the top 1% isn't lumped in with the top 10-30% and tax them heavier.

[UberMario]

Re: 9% of the World owns 79% of the Wealth.

But my capitalismmmmmmmmmmmmm, Veeeeeeeeeeeeeeeeeeeee.

[Vendetta21]

Re: 9% of the World owns 79% of the Wealth.

But my capitalismmmmmmmmmmmmm, Veeeeeeeeeeeeeeeeeeeee.

Your capitalism already has progressive tax brackets, it just has badly distributed ones.

[jesushaxyou]

Re: 9% of the World owns 79% of the Wealth.

You can always try to print more money but that doesn't really solve anything when the underlying goods are simply not present.

Don't ever try to print more money, that does absolutely nothing except lower the value of our money even more-so. Germany knows this, they tried to do print up endless amounts of money not realizing it's absolute detrimental impact on its own economy. Ultimately causing the hyperinflation that it was so wrought with. Eventually causing their own economic collapse and having to change the money system entirely.

It's kind of argued that they did it on purpose to pay back the war reparations, but they actually weren't allowed to pay back their debt in german money lol.


Long story short, don't make more money just get yourself out of debt.

[leonid]

Re: 9% of the World owns 79% of the Wealth.

rofl

[MrRubix]

Re: 9% of the World owns 79% of the Wealth.

Don't ever try to print more money, that does absolutely nothing except lower the value of our money even more-so. Germany knows this, they tried to do print up endless amounts of money not realizing it's absolute detrimental impact on its own economy. Ultimately causing the hyperinflation that it was so wrought with. Eventually causing their own economic collapse and having to change the money system entirely.

It's kind of argued that they did it on purpose to pay back the war reparations, but they actually weren't allowed to pay back their debt in german money lol.


Long story short, don't make more money just get yourself out of debt.

There's nothing wrong with printing money assuming conditions call for it. It doesn't, in itself, create wealth (only underlying assets/etc create actual wealth), but you can think of it as acquiring time value through credit. You need to sometimes do it to counter deflationary pressures.

But let me just clear this up -- printing money doesn't mean the government just runs to the presses and hammers out a bunch of bills to repay their debts.

The Fed can raise/lower the supply of money in the system by changing the reserves that banks are required to hold. Holding onto more money = credit tightens. Otherwise, you can raise/lower the interest rates or go into open market transactions aka the government buying/selling bonds.

It all operates under the function of credit. Things collapse when you take on too much risk or debt. Printing more money IS issuing debt.

[Eyes_Rutherford]

Re: 9% of the World owns 79% of the Wealth.

All of the debt caused by either war time or past war time reparations (i.e. Germany just barely paying off their debts from WWI) along with all of the New deal plans from FDRs time is what keeps the debt of not just the USA to go up, but the rest of the worlds (except for china)
But, I feel that the US has dug too deep of a hold to even climb out of at this point. The only thing that stabilized the economy was for it to crash and start anew.

[jesushaxyou]

Re: 9% of the World owns 79% of the Wealth.

What ever happened to the talk they were having about possibly switching all of North America to one standard currency? Any input on that?

[Vendetta21]

Re: 9% of the World owns 79% of the Wealth.

What ever happened to the talk they were having about possibly switching all of North America to one standard currency? Any input on that?

Lol I don't know who was talking about that but it likely would never happen. Besides Canadian to American and vice versa is par these days so it's basically already like that.

[Vests]

Re: 9% of the World owns 79% of the Wealth.

Fractional banking. Debt compounds more debt. Impossible to ever pay any of it off after the initial premium compounds interest. Created to fail... blah... blah... blah.