Know the FACTS: Simpson-Bowles only calls for tiny cuts to Social Security

[jtuck004]

143. Mi$$ RobMe and his ilk have people they don't care about, too.

Don't know if one is more moral than the other...

Actually you should give Obama more credit, since his total is over 5 million, iirc, as against that loss of 4.3 mill in the first year, which was handed to him like a Bjorn Borg serve to a football player.

And that's all that needs to be said if one doesn't care about the 4.462 million increase in unemployment in the year before he took office. He didn't CAUSE them, and most people who aren't Creationists understand that. But while he didn't cause them, who takes responsibility for making sure policies encourage enough jobs being created to employ them as well? They were already ignored by one president. Don't they deserve jobs too, being as they are our neighbors and all? One either ignores them or there is a deficit of nearly 5 million in the financial crisis that started in 2008 (well, before, but that's another post). And we still have that deficit. Were it up to the right wing terrorists, I mean Republican Presidential candidates, there would be many more, obviously. But that doesn't relieve us of the responsibility of evaluating our current policies. For example, QE3, like QE 1 and QE2, is designed to support the assets of the very wealthy because it is so good for all of us. But if there are not some being trickled on, perhaps we need to do more?

And who said no one is buying stock? The market is global now, and the numbers we typically get are not directly connected to or reflective of anything but about the wealthiest 20% of people, many international funds and investors, international markets, etc.

But people with less or no money are not the ones buying it. We have more people in poverty than we had in 2009, and many more considered "working poor". 50 million on food stamps. 10 million+ homes still in some process of foreclosure, student loan totals at historic highs, and defaults are rising.

Not a lot of day traders among them, I suspect.

And



Millions of people now earn $8 to $14/hr that used to make $14 to $21. Betcha they ain't buyin' a whole lot of stock either.

Look at how few stock issues really drive the whole thing. We can grow poverty and working poor and still have a healthy stock market, perhaps for a decade or two. Don't have to build a damn thing, with the magic of leverage, debt, and serfdom.

Some investors will do ok, but that really has not much to do with a discussion about how many people are hurting.

Btw, what you said above about irrational investing is absolutely still true.