Are the Super Rich and there companies to blame for our Economic crisis and plunder?

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WilT

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We in the U.S. seem to have way to many Billionaires and way to many Millionaires lately, more so when our country in the last 7 years we have been in a recession. How is it they maintain making money while the rest of society collapses to the ground. Can we blame them for others failures to thrive or they share no blame in this? I have to believe there is a link there somewhere. I remember the wall street and mortgage loan fallout at the beginning of this recession/ Depression where in. I wonder what happened to the 99% percenters.
 
WilT said:
We in the U.S. seem to have way to many Billionaires and way to many Millionaires lately, more so when our country in the last 7 years we have been in a recession. How is it they maintain making money while the rest of society collapses to the ground. Can we blame them for others failures to thrive or they share no blame in this? I have to believe there is a link there somewhere. I remember the wall street and mortgage loan fallout at the beginning of this recession/ Depression where in. I wonder what happened to the 99% percenters.
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It’s probably not a choice between them sharing all the blame and them sharing no blame. Greed is always a temptation and leads to problems for many.
 
Our economic system, on both the national and global levels, is clearly misallocating the world’s wealth. This is not necessarily because the superwealthy have done something immoral in order to obtain their wealth (although this is always possible), but in any case the system is clearly severely flawed.
 
I wonder from your chart Michael what occurred in 1987 that made the chart spiral upwards. Any idea. Reagan or Clinton possibly???
 
WilT said:
Wow great visual Chart Michael Mayo. 👍 Something is definitely wrong in our nation. We in our Church need to wake up and find a solution to stop the disproportion before we become a feudal state ( I think that is what it’s called).
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Why should I care if the rich make a lot more than me?
 
WilT said:
We in the U.S. seem to have way to many Billionaires and way to many Millionaires lately,
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You really can’t get enough of a good thing.

Unless you think getting rich is a bad thing.
WilT said:
more so when our country in the last 7 years we have been in a recession. How is it they maintain making money while the rest of society collapses to the ground.
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You noticed…more wealthy people…someone must be doing something right.
WilT said:
Can we blame them for others failures to thrive or they share no blame in this?
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No, the “others” are to blame for their own failures.
WilT said:
I have to believe there is a link there somewhere. I remember the wall street and mortgage loan fallout at the beginning of this recession/ Depression where in. I wonder what happened to the 99% percenters.
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A lot of the 99% worked their way up, out of poverty and joined the 1%. I hope you don’t have a problem with that.

I find your post very offensive. I am a Millionaire. I don’t think there are too many of us. I would like to see a lot more. I like to see people prosper, and improve their standard of living. Do you think that you can make the world a better place by making everyone equally poor?
 
Joe_5859 said:
It’s probably not a choice between them sharing all the blame and them sharing no blame. Greed is always a temptation and leads to problems for many.
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Good quote Joe but eresbob has a good point also which I slightly lean too. Shall we pray and cover our eyes as the society pulls further and further away from injustice and greed as eresbob stated. 🍿 I don’t want to. Maybe some one out there has a good Christ centered solution.
 
WilT said:
We in the U.S. seem to have way to many Billionaires and way to many Millionaires lately, more so when our country in the last 7 years we have been in a recession. How is it they maintain making money while the rest of society collapses to the ground. Can we blame them for others failures to thrive or they share no blame in this? I have to believe there is a link there somewhere. I remember the wall street and mortgage loan fallout at the beginning of this recession/ Depression where in. I wonder what happened to the 99% percenters.
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There is enough documented evidence that three things were wrong right before Wall Street caused worldwide financial disaster. Home valuations kept going up, meaning infinity was regarded as possible. This was obviously impossible to anyone who knew that those who made these incremental increases were artificially inflating values. Second, mortgages and other things were bundled into Credit Default Swaps. Third, banks were giving people who would have never qualified for mortgages in the past, mortgages, even though they were aware that some people would eventually be unable to pay.

Just as in the Great Depression of the 1930s, for every dollar a financial institution had on hand, they owed 23. Right before the collapse, an in-house Stock Market Analyst at the Ford Motor Company began noticing strange trading patterns, The people at Ford moved their money to as many safe havens as possible. Of the Big Three automakers, Ford did not ask for a bailout like GM and Chrysler.

Wall Street made quick cash and people - wealthy and highly informed - saw what was coming. The Justice Department has finally begun to issue fines and penalties after all this time. The “big fish” have escaped punishment.

businessinsider.com/why-wall-street-execs-werent-prosecuted-2013-1

But what do we get on our daily news? Stuff like this? No. Or tiny fragments. People in power and who are wealthy and informed, got the information they needed before the public ended up footing the bill for entities that were “too big to fail.” They weathered the storm.

Tougher regulations are now in place, but sub-prime lending has returned. But even the big fish know they are under greater scrutiny now.

Peace,
Ed
 
Zoltan_Cobalt said:
You really can’t get enough of a good thing.

Unless you think getting rich is a bad thing.

You noticed…more wealthy people…someone must be doing something right.

No, the “others” are to blame for their own failures.

A lot of the 99% worked their way up, out of poverty and joined the 1%. I hope you don’t have a problem with that.

I find your post very offensive. I am a Millionaire. I don’t think there are too many of us. I would like to see a lot more. I like to see people prosper, and improve their standard of living. Do you think that you can make the world a better place by making everyone equally poor?
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I can’t really answer your question but I have read scriptures that the Lord came into the world not in royalty but as poor and humbled peasant. Aren’t we suppose to follow His example? There are many more blessings placed on the poor throughout the scriptures and I remember a few spoken about the rich. One I remember had to do with a camel’s eye example/parable and another about the rich man that was asked about what more he had to do for his salvation/kiingdom. I believe he turned away and left. Jesus said a few more things about it afterwards. Also he did say he loved him in one text.
 
WilT said:
Michael Mayo, can you find a chart on the high unemployment rate and is there a link between the gross disproportion of wealth today and unemployment? Thanks
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While I was looking I found this. We see that CEO pay has gone way up while production worker stays flat.



Unemployment has been more sawtoothed. Does not seem to be any correlation with wealth trend.

(Please Note: This uploaded content is no longer available.)
 
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