Economist awake - finally
 

http://www.washingtonpost.com/busine...d86_story.html

No shit Sherlock - haven't I been saying this for the last three years.:rolleyes:

Broadly speaking income inequality per se is not the problem.

The problem is disposable income at the bottom.

But incomes are inequal simply because the top 5% is getting most of it, but I suppose that is happening because the top 5% are greedy.

Whatever in a consumer driven economy if you beggar the consumer you kill the economy. Hey being no longer in the workforce and at the mercy of those greedy Randians I really don't give a Tinker's Dam. Actually because my pension has kept pace we are in the position to take advantage of all the sales caused by the lack of consumers.:p

What if the cost of living were low, would income inequality really matter?

Correct

And If we were not getting taxed to death funding a behemoth government and al there cushy retirement packages we might have some cash to spend.

Salaries are not keeping up with Inflation and Taxation.

You aren't one of those 'Don't tread on me' guys with the eastern Diamondback rattler on a yellow field flag wavers, are ya? :D

BTW Welcome to PC.

The cost of living is low! I know that sounds weird right?

When we look at economics we have to look at who is driving it.

It doesn't take more labor to bake a loaf of bread today as it did fifty years ago. What has made the cost of bread rise in cost in those fifty years. If anything it should cost less with technology.

By not having a currency pegged to something with intrinsic value ie:"Money" all hell breaks loose. Something that can't be produced out of thin air that has value.

Since the USD is not pegged to anything but a promise to pay:D lol Fiat Currency, A note of a promise to pay is all the USD is. It is not money.
Nothing stops the printing of currency so the presses run and run. But there is a problem to doing this. It's a dilution of the currency supply meaning it reduces the value of the currency in circulation. The value of your saved dollars are not the same as when you put them in the bank. In fact the interest earned does not keep up with this. So you put your dollar in and in short time it's only worth 50% it's value at deposit.



It's funny, not really:eek: Most have no clue of what currency is, how it's born and who is doing it.

Welcome 4-2-7!

I hope we can distill and ventilate this issue. I believe we are too fixated
on income inequality. Is there any way that average joe can get a livable
wage even in an highly skewed income society?

I did not see your post before this. Thanks for some serious thoughts.
The bigger economic heads (relative to mine) on the site will soon jump in.

lol I'll shake my tail anywhere.
I am of the party of me and what is right for the people. The ones that think they need to Identify with parties are the sheep being lead around to do some others agenda and power grab.

In this day and age there is no difference in parties, they are one and the same.

The goal for all, well the two parties is to have the American people at each others throats. This way we can't pay attention to what's really going on and work together to fix it.

Thanks for the welcome and I probably should have opened a Intro post.

I feel everyone should aspire to be the other guy. Not try and take what others have done and make it theirs thats stealing.

No different if I took from someone there only dollar. Is that right? I might only have 50 cents.

You have to fix the economy and the way western banking system is done.
The Federal Reserve, The Government, The fractional Reserve Banking all need to change.

"Is there any way that average joe can get a livable
wage even in an highly skewed income society"

Yes start looking at what the right hand is doing all the while there telling you to look at the left. Stop being lead around by parties and there midia mouths for votes.