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View Diary: The Gas Price Mechanism that makes their Free Market go round (19 comments)

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  •  real investments, real production (4+ / 0-)
    Recommended by:
    jamess, Azazello, elwior, Eric Nelson

    no longer provide sufficient return to the 1%,  the problem with having all the money, it basically becomes worthless, it no longer serves a useful purpose.  So they gamble with their ill gotten gains, getting more cash from everyone else for doing nothing useful.   If that cash were forced into production we would still be an economic juggernaut instead of zombie economy.

    •  It would be interesting to see (2+ / 0-)
      Recommended by:
      elwior, Eric Nelson

      what percentage of "Wealth creation" on Wall Street,

      actually involved bringing products and services into existence,

      that actually make average people's lives better.


      and what percentage of "Wealth creation" on Wall Street,

      is simply "shuffling paper".


      I suspect the answer would astound us.

      Probably in the the neighborhood of 99% to 1,
      in favor of virtual wealth creators.


      What is necessary to change a person is to change his awareness of himself.
      -- Maslow ...... my list.

      by jamess on Fri Feb 24, 2012 at 09:31:17 AM PST

      [ Parent ]

      •  somewhere buried (2+ / 0-)
        Recommended by:
        jamess, Eric Nelson

        in some statistics from the Federal Reserve Bank are percentages of wealth of the wealthiest invested in real goods, business assets vs. mere paper.  Its almost all in paper, the wealthier a person gets, the less they own hard assets, the less likely they are to run an actual business.  I didn't bookmark the page, I wish I had.

    •  That's because interest rates are too low (0+ / 0-)

      -- everybody is chasing yield

      •  too much money without any real (0+ / 0-)

        work to do chasing yield.

        •  Oh, pfui. There are lots of good things money (0+ / 0-)

          can do, and many legitimate reasons to cheer ways in which money invested can bring returns to persons and companies. For example, elderly people who depend on returns of conservatively invested assets to help with retirement expenses, pension funds that need good return on investments to provide future retirement payments, insurance companies that need good return to keep premiums as low as possible.

          •  I don't disagree with (1+ / 0-)
            Recommended by:
            jamess

            a new for a return,  and that for people with limited assets and fixed incomes, return makes life liveable.

            But that is not the super wealth I am talking about,  it is in the aggregate huge, but it used to find decent returns investing in a number of things.   The returns helping corporations sitting on tons of cash, because the real economy has been robbed so they know no one is buying, the money in the hands of a few hundred families who control massive amounts of wealth, that drives the casino.

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