[roenxi]

The problem with personal responsibility, which I am very much in favour of and wish we promoted a bit more, is that the deck is so stacked against people who don't have assets that I'm not sure average person can keep up.

I keep saying it; the amount of money in the system has increased +50% since 2008 [1], and worker compensation has gone up +25% (the BLS publishes a lot of series, I use [2]; hope it is right). So someone is getting a lot of money and it isn't obvious to what end - it isn't helping the workers or the poor, and nobody can make up that sort of difference by working harder. Workers are reaping a smaller percentage of society's bounty.

[1] https://fred.stlouisfed.org/series/M2 [2] https://fred.stlouisfed.org/series/A033RC1A027NBEA

[jarfil]

Some people are getting huge amounts of money just because they can, and today's society, with the growing relevance of intellectual property, is geared more and more towards income inequality.

It used to be that one could somewhat easily get $1M by just selling 1 million people some $1 items, however that required making 1M items in the first place. Nowadays one can get the same $1M by making just a single unit of IP, and selling 1M copies at $1 each. Sure there is no guaranteed way of knowing whether some IP will sell 1M copies, but that only turns it into a sort of lottery which exacerbates the inequality even more.

Given that money -and particularly M2- is credit, which is kind of an "intellectual property" on itself, it isn't really surprising that a greater amount of IP in circulation would also mean a greater amount of credit/money.

Workers who exchange their effort for a fixed amount of income, are just out of all this IP lottery and its income multiplying potential.

[taysic]

Is this due to QE? edit: I am wondering about why the money supply has increased 50%. Wouldn't that require a massive printing of money?

[dv_dt]

QE, Fractional reserve banking is basically printing money on every loan, us gov't budget deficit prints money. In terms of inflation, it does seem the supply needed to keep expanding to prevent a liquidity collapse of the economy - though my suspicion is it needed to keep expanding because the finanicialized sections of the economy basically keep sucking it up, somehow locking it up from liquidity in the economy.

[pnj9]

It’s due to a long and storied history of elites manipulating the masses through intimidation and fear

It went from overt violence to less obvious propaganda programs tuning our feelings

I wish the “smart” crowd would look into the history of government-corporate propaganda research

I’m not talking “deep state”. It’s plainly recorded in government record how they financed propaganda research and gifted it to media for advertising and corporate use

Look at the joke history classes taught in public school

Look at the efforts to hide info about the environment by this admin

There is a concerted effort in our faces to deceive and misdirect is

Economics, jobs, and government scandals are distractions in support of these efforts

Read up on Greenspan’s comments in the 90s about growing worker insecurity being a boon to beneficiaries of supply side economics

Watch Varoufakis explain how during the Greek debt crisis German tax payers took out loans from German banks to have it to Greece who gave it right back to German banks

This is a generations long boondoggle unrelated to one policy decision 10 yrs ago

It’s a round n round we go with numbers because even the educated masses are too on the periphery to see or outright prevented from being in the room

[jabgrabdthrow]

No, you are talking deep state (unelected “eternal beaurocracy”), they’ve just associated that term with crazies and racists like everything else that threatens them, so you’re scared to use it.

[pnj9]

Don’t put words in my mouth

Deep state is nonsense. It’s public record what’s going on

Lack of information or looking on the part of the rubes and proles doesn’t mean “conspiracy”

Especially when it’s a Google search away