The fact that Germans work fewer hours is a massive benefit. Being able to adequately tend children and elders, oversee children's studies, spend time with a partner, complete and monitor household duties, experience LEISURE, SLEEP, PAID VACATIONS, these all make life worth living.

@charlesmartino1456

Жыл бұрын

I will also remind you Germany does that with far less national resources then America. The Con Job of Supply Side economics did nothing of what Reagan promised. Deficit went up not down. The fight for labor never develop, it actually caused the opposite as wealth systematically attack labor. Add healthcare inflation, where healthcare was 8.9% of GDP in 1980. It now is 18.2% while the service of healthcare has gotten far worse. The only thing that did happen? America now teeters on becoming an Plutocracy as we now have a wealth gap greater than in the Gilded Age. Unregulated Capitalism is only a transformational state of being as it will always cannibalize itself into an Oligarchy. You will pay taxes or someday pay an Oligarch, but you will always be paying someone!

@quantumdecoherence1289

Жыл бұрын

When my father four decades ago decided to upend and move our family to the United States, from Germany, little did we know at the time that it was the biggest mistake of our life.

@Don.M.

Жыл бұрын

No, no, no. Leisure, Sleep, Vacations are unearned entitlements. You better work harder than the next man, or you'll lose your spot in the future billionaires club! - America, circa forever

@charlesmartino1456

Жыл бұрын

@@Don.M. LOL. A survey question posed to Americans from the 60's asked what would the work week be in the Millennium. The average of the answers came to 27 hours. That society could never imagine technology not benefiting everyone! But here we are 60 years later and that technology has been weaponized by the rich and corporations to suppress people and labor. Some things are simple, 40 years of unfunded tax cuts to the rich and no inflation. One year of Covid having us put money in the hands of people needing more money and we have Inflation. Unfortunately the inflation get blame on labor instead of supply chain issues and greed. Our Fed's response, cause a recession that will crush labor gains. My question is how come we never raise taxes on the rich for taking too much of the economy. It is a fixed race for the rich, only way to stop it is to make lobbying illegal!

@danf4447

Жыл бұрын

@@charlesmartino1456 it did just what the republicans wanted- screwed over the middle and working classes while massively enriching the investor classes :(

It only took me a few years (as a teenager) to realize the Reagan Revolution was screwing us all. Grateful for this KZread channel to deepen the understanding of our economic problems, and welfare.

@dulynoted2427

Жыл бұрын

It was Reagan, who caused the huge imbalance of power of corporate and the American citizen and American worker, through ALEC and it's corruption in bribing our legislatures.

@ttrons2

Жыл бұрын

Well what did you expect from the conservatives? Read history they have never been on the side of improving life for the majority.

@mjinba07

Жыл бұрын

"Trickle down economics" never made sense to me, and I wonder how many people in the middle and lower economic ranges actually believed it, vs. just having been charmed by Reagan and wanting to believe in him. There should have been a hue and cry way back then.

@mjinba07

Жыл бұрын

@DoubtingThomas The notion that giving more $$ to ambitious folks who really love and want $$ would result in their voluntarily passing it down the ladder... idiotic. And anyone who's ever struggled to make ends meet, who's studied history or even been aware of the U.S.'s labor movement, or who's worked for a corporation, or had a wealthy relative, or raised a 4 year old would know that.

@practicaliching2311

Жыл бұрын

When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies.

"It is not enough to succeed; somebody else must fail." -- Conservatives everywhere.

@zephead843

Жыл бұрын

The war on meritocracy continues unabated. If all goes according to the Radical Left's plan, water treatment plants will deemed "racist," and every sidewalk in America will become a fecal Slip 'n Slide.

@practicaliching2311

Жыл бұрын

When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies.

@jaisgossman

Жыл бұрын

And neo-libs. The definition of “competition” 🎉😢😮

All this is well and good but sadly never mentions the fact that the biggest income (and wealth) gap arises not from diverging hourly wages or hours worked but simply from the fact that some people make money without working at all, namely through capital returns. Being a a world class engineer, doctor or even athlete or actor is nothing compared to skimming off the work of thousands of employees or collecting hundreds of people's rents.

@himoffthequakeroatbox4320

Жыл бұрын

You're mostly correct, but people who make money by having money must have earned it in the first place. Unless they inherited it.

@casteretpollux

Жыл бұрын

Exactly.

@tinoyb9294

Жыл бұрын

It's the 401k, stupid.

@kvaka009

Жыл бұрын

@@himoffthequakeroatbox4320 or borrowed it because they are in the position to do it.

@Scepticalasfuk

Жыл бұрын

@@himoffthequakeroatbox4320 Read a novel by Upton Sinclair, The Jungle. Nothing has changed.

This is brilliant. Always had a sense of the role the aspirational class played in our descent into sociopathy in the United States.

@BailelaVida

Жыл бұрын

HAHAHAHA... LMAO! I laugh because of your hilarious high comedy comment, but also because I wish it were as simple as this..

@jimsykes6843

Жыл бұрын

@@BailelaVida Did you watch the video? It kind of is as simple as that... Because getting rid of the inequality would reduce the overwork of the aspirational class.

@BailelaVida

Жыл бұрын

@@jimsykes6843 You draw your conclusion. Good for you - Dude. I think we are in agreement as far as your comment reaches, calm down. Now, if you think that the 'descent into sociopathy' of a society is as simple as that, I'm afraid you have much to learn. Patrick's obviously being sarcastic and probably understands this. Thanks for your response. Dude.

@pinchebruha405

Жыл бұрын

So you’re saying those that want to do better are sociopaths……yikes!

@patrickknight6542

Жыл бұрын

@@pinchebruha405 The “aspirational class” I’m referring to are the highest reaches of the upper middle class in the United States that identify more with the Corporate/OnePercent oligarchy than regular human beings. As a result they support policies that benefit only the richest and hammer the vast majority of regular Americans who are not and never will be multi-millionaires. As the report makes very clear… the way we practice capitalism in this country is sociopathy compared to the way every, single other developed country practices it.

This is was great. I been reading about conspicuous consumption in Theory of the Leisure class, and his application helps bring better meaning to it so I can think about the concept more critically.

Very insightful video. Though there was an important aspect that was overlooked, at least from the North America perspective and that is related to the middle-middle class (okay living but not status seekers). The middle management of corporations (and probably smaller businesses as well) are salaried and do not make more by working longer hours but are expected to accomplish much more than what is humanly possible in what is considered a normal work week. The use of portable laptop computers and remote technology has served to exacerbate this problem since even the home environment is no longer a sanctuary from work. This class of workers are poorly represented by social organization like unions and have little recourse but to work long hours to achieve the demanding performance objectives they are virtually coerced to agree to meet. This helps to facilitate the 1% to get their astronomical remunerations, bonuses and reward the shareholders. The high earners work this unrepresented middle earners wrt hours as in early Industrial Revolution times rather than hiring adequate Human Resources to accomplish what is needed.

One aspect about the education system in Germany is that school children are tracked into academic and general labor braches as early as 10 years old, depending on the state. There have been reforms, but this can be a factor when it comes to barriers to social mobility.

I think there should be a video about how all of this stuff is really just a gate keeping mechanism by the wealthy. Now that we have more and more people getting college degrees we just by coincidence have stuff coming out about how over valued they are for most jobs and how the degrees have so many classes irrelevant to actually doing the job. We have started seeing a shift towards certification programs which also gatekeep because of the cost of the exams/exam prep - followed up by irrational hiring requirements for those very jobs.

@ericwilliams626

Жыл бұрын

Not only that but then the requirements change from Certs to MBA or vice versa. This is a game and the HR recruiters are predominately bias by name, assumed race and even geography. This has nothing to do with being qualified or even being given an interview. Self Employment is the only option.

@Zero11_ss

Жыл бұрын

@@ericwilliams626 HR people are a bunch of entitled babies, just look at how they were complaining last year about it being "hard" to do their job. There is zero accountability for these HR people and their incompetence is a major factor in why businesses struggle to hire workers. I've even seen stories where they go and add requirements they were never told to for job postings. Right now the only real way to get into a decent job is to either be way overqualified and accept a lower salary than you deserve, or to have connections with people.

@ericwilliams626

Жыл бұрын

@@Zero11_ss HR is where they control all the employment now. You need to be a conformist to get a job.

@KO-iq1lu

Жыл бұрын

Scott Galloway shared some interesting thoughts on the cost-benefits of Ivy league education and the impact on tier 2 tuition… def a rat race.

@himoffthequakeroatbox4320

Жыл бұрын

@@ericwilliams626 bias - noun. biased - adjective. it's no wonder your CV goes in the big round file.

Good analysis. Might be good to include the fact that the top earners spend part of their income in other countries so the income effects that could result from their spending pattern doesn’t benefit the middleclass/poor in their own country.

@xelasomar4614

Жыл бұрын

Regardless of where they spend it, there are only so many pairs of pants they will buy, only so many planes they will buy, etc. so their contribution is very limited.

@HaErBeSo

Жыл бұрын

@@xelasomar4614 Yes that is true, and even worse, do not underestimate the money that flows away just because it is not spend. A lot of consumergoods are manufactured abroad. Also savings will go to tax havens, stock and bond investment to international companies that might re-invest it elsewhere. In itself that is a normal economic phenomenon but big enough to be taken into account.

@christopherc8563

Жыл бұрын

Especially considering how much goes into other countries via oversea manufacturing

Germany seems to have a more equitable national educational and health policies, hence a more equitable society . Fundamental educational and health cares should be every government’s responsibilities. However US and now Australia have tried to privatise both the educational and health sectors to the detriments of the greatest good for their citizens.. When money is the factor, greed comes in .That’s why the rich gets richer as opportunities open up to them while the lower strata of our society struggles to compete .

@kvaka009

Жыл бұрын

Let's not ignore, however, the way in which Germany, as the dominant financial and productive center of the EU, exploits countries on the periphery. Greece comes to mind here.

@MaryJohanna

Жыл бұрын

@@kvaka009 Greece was exploited/brought to her knees by Goldman Sachs!

@kvaka009

Жыл бұрын

@@MaryJohanna reference please

@jotsingh8917

Жыл бұрын

Actually, the hedge funds and private equity dudes looked at health care and education as profit opportunities. Screw the people, we bought the politicians to make this happen.

@op3129

Жыл бұрын

@@kvaka009 you're on the internet.

This is a breakthrough in economics and social democracy at it's best in Germany. Please export this to USA to end the disgusting American rat race and American humanitarian failure

@jotsingh8917

Жыл бұрын

If my aunt had balls she would be my uncle. Keep on dreaming, the rich elite and their bought congress will never allows this to happen. Look, they just got another tax cut from the GOP by not hiring more IRS agents whilst they are musing about cutting social security and medicare.

@xelasomar4614

Жыл бұрын

If only. You will have half of the country and their leaders screaming "communism", and voting against their own interests.

@strayCATchillspot

Жыл бұрын

🤤🤤🤤dont kidd yourself GERMANY is no PARADISE🤗 capigtalist OLIGARCHY same as everywhere.... if you come from nothing you are nothing...winner take all violence fest....there is nothing left of a real LIFE for the consumer zombie hoards ....cheer up...

@strayCATchillspot

Жыл бұрын

democracy is nothing more then the rule of inbred retarded morons...sheep to the spiritual slaughter...wake up finally...look around

Quite a breath of fresh memetic air this channel is ...

I'm not sure there is a social class just below the top 1% in the U.S. that can strive to emulate the 1% lifestyle. The 1%ers are orders of magnitude richer than their immediate subordinates.

Yes, the flaw of globalisation in the past few decades is the inequitable distribution of wealth in societies.

@BailelaVida

Жыл бұрын

How'bout the flaw of all human endeavor throughout classical history. And a continuing great conundrum...?

@jimsykes6843

Жыл бұрын

@@BailelaVida Wow dude (you're obviously a guy), way to go there, buddy, discounting the evidence in the video again? This is your second comment where you're like flapping your flippers in the water saying, but it can't be true! But everyone's always bad! But things are totally fine! We're not buying it...dude.

@BailelaVida

Жыл бұрын

@@jimsykes6843 See my previous response, dude. Buddy. Keep on flapping...

@practicaliching2311

Жыл бұрын

Its not just globalization. When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies.

This is a good video, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Mrs Rose Gardner

@lucyweilbel6681

Жыл бұрын

As a high school teacher, I got introduced to Ms, Gardner during the pandemic year, I cried about challenges I was facing here in Ireland, during my time working with her, I was able generate returns on my investment.

@waynestackheim600

Жыл бұрын

It hasn’t been easy trying to invest as a newbie with few knowledge. I’m trying to create a new stream of passive income. How can i reach out to her? she could be of great help

@despachellesD

Жыл бұрын

@ROSEGARDNERBIS

@kushnir456

Жыл бұрын

with the consistent weekly profits I’m getting investing with Mrs Rose Gardner there’s no doubt ...she is the most reliable in the market. such a genius!

@waynestackheim600

Жыл бұрын

will try reach out to her after my work hours, with all the positive words I hear, this should be worth a try

So true. Getting a job with a union behind the workers is the best thing ever to happen in my life. The poor brainwashed folk that vote down unions just don’t understand the benefits.

@practicaliching2311

Жыл бұрын

Yes they do. Its you that doesn't understand. When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies.

@steve-real

Жыл бұрын

@@practicaliching2311 Trump raised my federal taxes by 200%. He sucks. The absolute worst President ever. 70% of all American GDP/economic activity is in liberal areas. The conservatives raise taxes and lie to themselves.

@practicaliching2311

Жыл бұрын

@@steve-real Unfortunately for you, anyone who is not a lazy sloth or a clam head can go into the IRS data and see the truth that the 2017 tax cuts helped lower income people. "Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent. By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent. (For more detailed data, see my table published here.) That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more. What’s more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year. In fact, every income bracket with filers earning $200,000 or more increased its tax burden in 2018 compared to 2017, and every income bracket with a top limit lower than $200,000 paid a smaller proportion of the total personal tax revenue collected. That means that Republicans’ tax reform law resulted in the tax code becoming slightly more progressive - the exact opposite of what Democrats have claimed over the past four years. The IRS data further shows that the tax reform law - which included a variety of business tax cuts, including a large reduction in the corporate income tax rate - spurred economic mobility. Every income bracket with a top level lower than $25,000 experienced a reduction in its number of filers, and every income bracket above $25,000 increased in size, with the biggest gains occurring in the brackets with a floor of at least $100,000. The fact is, Republicans’ 2017 tax reform law did exactly what was promised: It lowered taxes for all income groups, provided the greatest benefits for middle-income households, and spurred economic growth that helped reduce poverty and improve prosperity."

@steve-real

Жыл бұрын

@@practicaliching2311 “The federal Tax Cuts and Jobs Act-signed last year by President Donald Trump and cheered by Republicans in Congress-cost the Jarvis family between $4,500 and $5,000 in deductions, raising their bill from the Internal Revenue Service even after a larger child tax credit for their 15-month-old son, Kellar.” - Calmatters Another time of being bamboozled by the uneducated conservatives who pay no taxes. Brother, you are being lied too.

Here in Ireland, on paper fast becoming one of the richest nations, except it is now creating vast inequality, more and more of our young professionals are emigrating, not to the US, as happened historically but to Berlin. They are all priced out of the housing market. Thus they are priced out of moving out of the parental home and ultimately priced out of starting their own families at a young enough age. Not a good economic model. We are already experiencing teacher, nursing and junior doctor shortages. Architects and engineers are fast on their heels. One would have thought we would have learnt by now what constitutes an essential worker.

@teds9896

Жыл бұрын

Seems to echo the past that Ireland had vast inequality. Indeed it's a problem in so many ways, even for the supposed "winners", ex: those "young urban professionals" often aren't so young anymore. Go to college/university, get that high paying education, yet spend a lot of time and money to be able to earn the big bucks they may be millionaires at 50 and well off financially at 40 but unlike the past they may often not have kids or a house. I'm gonna speak a hard truth: I have lived with my parents at far older age than I should have...when I was an engineer earning a salary of $150k per year! Why? Cause I still had lots of debt, was working like crazy it was hard to take care of a household, and spending money on a house is to my thinking often a very bad investment. Partly as you buy a house, it's not just money you're putting into it, but often so much of your time(which is money too). And while they call it "real estate" it's not really an asset that generates real wealth; if you put your money into a business, that generates a return. Put your money into a house, your return is from you hope it appreciates and that government maintains it pro-home buying policies...but both of these are gambles. In the USA I actually think we've reached the point where the Postwar "suburban sprawl" system is gonna collapse; that it doesn't matter if the masses scream at politicians; they can't stop it in part because in many ways it has always been a Ponzi scheme; those who invested earlier benefitted more than those invested later that the structure require endless growth to perpetuate itself, but endless growth is both impossible and self-destructive. It was probably a great idea in 1980 to buy a Subway Sandwich franchise(you bought back then you're probably wealthy and retired now); that it's probably not a business somebody wants to get into in the 2020s, or at least in the USA anyway where they're closing bunches of them because they're everywhere.

As a German for the Algorithsm yes he is right

Many of the upper middle class own or manage businesses, and one way to increase their salaries is to lower workers wages.

There are fees for studying at University in Germany . Another thing is, it is well known that social mobility is really low in Germany . Wealth and educational Status of parents/family have a very clear impact on the future prospects of young people in Germany .

@MaryJohanna

Жыл бұрын

Fees that in no way break the bank, and there is Bafög. Social mobility is very possible for those that work towards it. Although now I see in the new "ruling political class" most did not even finish their free education. So there you go even uneducated people are moving up.

@HeadsFullOfEyeballs

Жыл бұрын

@DoubtingThomas Yeah, basically. My university charges like 390€ a semester (it goes up every year with inflation). For that price you get a public transit ticket for the entire state (which would cost more than 390€ by itself) and discounted food at the cafeterias. And if you're really struggling you can apply to have the cost of the ticket waived, then you pay just 160€ for the semester.

@HeadsFullOfEyeballs

Жыл бұрын

Social mobility is definitely too low in Germany (a big factor here is the secondary school system, which segregates kids at a young age when their level of education is still very strongly influenced by their family background), but it's actually lower in the US. You have a better chance of going from rags to riches in Germany than in the US.

While I appreciate Dr. van Treeck's statements about the education system in Germany, it's a bit misleading. To say that the university system is open to everyone glosses over the entrance exam. Students who perform poorly in school are generally directed towards a trade and do not take the exam. Does that mean the university system subsidizes the wealthy or professional class?

@truthaboveall7988

Жыл бұрын

Still a lot better than the US where someone w a masters will often need 2 jobs to pay off student debt even as a lawyer Trade is a better choice for many - I’m a hairdresser retired in NYC at 44 I made far more $$ than my entire family all of whom have college educations

@KO-iq1lu

Жыл бұрын

The truth is always in the middle… problem in German universities is that they are often “overcrowded” and don’t allow for a more personalized experience.

@edo386

Жыл бұрын

He is talking from the financial perspective. You don't have to be rich or get into debt to get quality education.

@pahatpahat9566

Жыл бұрын

Well, surely you can't everyone to enter the Universities like going to primary schools. US is grinding herself to the ground sooner than you think. Look at how the States encourage students to avoid STEM subjects by allowing students to avoid those subjects even at high school level! They think, they will still be able to attract minds from other nations to man their growth? This, we may have to wait a little longer!

@himoffthequakeroatbox4320

Жыл бұрын

If you allow duggies in it will dilute the quality for everyone. At least if it's done by ability that's fairer than Twatt Gaetz or Bowwis Johnson being able to buy their way into Yale or Oxford.

Hope he covers the bribery system of US University entrance and the health divide between classes.

He also didn’t speak to any patterns for the lower tiers of trickle down … for example, the elderly or minimum wage earners. Also, how prices are set by that same 1% with seemingly no oversight. How is it regulated in Germany?

Dear Propf. Till Van Treeck, hi. One of the reasons for the mismatch in economic is probably because economics is largely dependent on the socio-political dissonance.

Also, does anyone know why it is that KZread says there are 5 comments when, including mine and a reply, there are 4 comments. is KZread doing like Twitter used to do? Let me know with a reply, thanks.

@casteretpollux

Жыл бұрын

I can see your comment but nothing like the 85 comment listed. Crypto spam perhaps?

Thanks for your intriguing insights. I live in Australia, and am very concerned about the mismanagement of our economy and increasing inequality. I was wondering whether you would be able to share any data specific to Australia?

@practicaliching2311

Жыл бұрын

When during the Trump administration the bottom 1/5th of wage earners had their incomes rise the fastest of all groups. That was the first time that had happened since the George W Bush administration. Because both Trump and W. used Kennedy's theory of using lower taxes, less immigration, deregulation, and smaller government to tighten up the labor market. Which raises wages, allows mobility, allows for advancement, and gives people dignity. Compare that to the Democrat policies of using high taxes, over regulation, open immigration, and big government to put permanent slack into the labor market. Which drives down wages and drives up housing prices at the same time, to the point tens of millions of people don't have any money left over at the end of the month. And it's the low wages at the bottom that allows the excesses at the top, causing the wealth gap. Raising the bottom 1/5th of wage earners wealth relative to everyone else is something liberals will never be able to do because of their policies. Same goes for Australia.

Error? If you work more hours, you have less hours to consume (so you consume excessively/conspicuously ?).

What a fantastic video. Understanding how systemic functioning psychologically impacts the upper middle class is really important I feel

@BailelaVida

Жыл бұрын

Important for whom, for the Upper middle class..?

@suckmyartauds

Жыл бұрын

@@BailelaVida you thought that was gonna be a gotcha but I'm literally poor 🤣🤣 no it just matters because upper middle class is highly influential.

@watching99134

Жыл бұрын

@@BailelaVida What a small-minded response.

@BailelaVida

Жыл бұрын

@@watching99134 It's a perfectly legit question, one which I wouldn't mind if Ms Artaud answered. And 99, don't you have something a bit more constructive and broad-minded to do with your time than to opinionate on people's comments...? (this, in case you didn't get it, is a rhetorical question - no need to answer..)

What does he mean when he says centralised wage bargaining mechanisms would be a way to internalise positional externalities implied by positional consumer expenditure? Increasing workers wages would decrease demand for positional goods like elite education and healthcare? Is that not a contradiction of the point about people striving for more money in order to elevate their social position by spending more money? I don't see how higher wages is directly linked to demand for positional consumer goods...

Well, the cost of "positional goods" he mentions as prime targets for expenditure, education, housing, and healthcare, are better regulated in Germany than in the US. So, is the effect he is discussing because of psychological or behavioral factors associated with a small income gap between ultra rich and middle class, or is it because of the control exerted over pricing of education, housing, and healthcare?

This video aged like fine milk. Germany's been in a months-long recession, they're deindustrialising, they're Europe's biggest polluter and are slowly dragging the entire EU space in a continent-wide recession.

Footnote: It is therefore NO surprise that the tech giants are such fierce Crusaders in their efforts to stifle, prevent and exclude trade unions from the 'shopfloor!'!

I noticed when I visited Germany, that people are much more laid back than in North America. This information is part of the reason why.

Interesting contrast of the structural differences between Germany and US socio-economic systems. In the US, we have the financialization of capital through the stock market driving wider income inequality by preventing collective bargaining of wages. That leads to a high degree of stratification of relative economic positions which leads to competition among workers for the next positional gain which drives longer working hours than needed to support a comfortable lifestyle. But, sometimes, even working extra long hours is not enough to make positional gains so Americans are highly willing to mortgage their future and finance the position today. This leads to the huge debt in the US from all the excess consumption which enriches the top performing public companies and the cycle continues. Yes, Germany gets to sidestep this vicious cycle but only because they have a high consumption export partner like the US. Otherwise, Germany’s economy will stagnant due to inadequate consumption and all the public welfare benefits are unsustainable.

1997, our leadership at the time asked the question. What do I get? The pay checks tax payers where paying them wasn't enough. More more more their ego went from for the people, to for myself. Housing, food, transportation, education became controlled to keep prices high like the diamond markets. Banks & Corporations own our system and politicians. No morality if it gets bad they'll build a wall or fly away to another location. It would all change quickly. But just all talk so tired of talking. Most people have just tuned out alcohol, drugs,tv,video games, and the algorithm feds them perfectly. In my opinion they'll want to collapse it before any reform. Why? They'll keep all the profits and not have to pay for anything. Taxes will be used as intended.

@a.randomjack6661

Жыл бұрын

Politicians have made politics unpopular, likely by purpose. The less we are interested in politics, the more space was left for themselves. But that's what an Corporatocracy empire dreams of, hence: “Our politicians are interchangeable figureheads on the pirate ships of the Corporatocracy Empire”

@ttystikkrocks1042

Жыл бұрын

@@a.randomjack6661 there is a word for what you're describing; Fascism.

@a.randomjack6661

Жыл бұрын

@@ttystikkrocks1042 I know, I'm just trying to not get my comments auto-deleted or shadow banned. I know, I check 👁

2:00 instead of everyone working 15 hours a week, we have most folks working 60+ and 10% getting paid for much of the productive work done by the majority. in the 'liberalized anglo' (the five eyes) economies all the profits gained from increased productivity since mid 70s have been gifted to shareholders...the 10%, while real terms wages have flat-lined over that time period and are now falling due to high inflation. high inflation is the result of QE devaluing the currencies. That QE money predominantly went to the rich, so, once again the majority in the 'liberalized anglo' economies pay for the rich to be indulged.

Very interesting. You see it all the time "competing with the Jones." I would ask the question, doesn't Germany drink lots of beer, so is that a consequence or necessity of a more equal income distribution. US has an enormous drug problem more than anyone in the world. It would be nice to add sober countries that share equal income distribution.

The idea that consumption patterns in the 1% explain longer working hours for the managerial/technical class immediately beneath them doesn't make sense to me. My impression is that money at the top tends to flow into financial assets, and in copy-cat fashion, so does the income of the managerial/technical class. Debt isn't really a problem for the top 15 % of the economy, it's more a problem for the middle class, who are conditioned into craving positional goods largely as a distraction from their increasing economic precarity...

@SapphicTwist

Жыл бұрын

I really don't know how corporate employees are supposed to opt out and say, you know, I'm not going to answer that email on Saturday afternoon, I'm perfectly happy with my standard of living. No, there are no individual decisions to aggregate into a hypothesis like trickle-down consumption. Corporate employers squeeze as much work as possible out of their salaried workforce, cutting costs so as to increase quarterly returns for Wall Street.

at the very end, he mentions the macro issue of the current account surplus. why does he ignore the current account surplus throughout the rest of his discussion? fascinating analysis of certain granular details, but seems very artificial to ignore macro / context. also, as mentioned below, he doesn't dig into the fact that there has been wage stagnation. if there has been wage stagnation (despite increased productivity), its kinda obvious that people are gonna work more.

By standards he discussed, Germany has a lower standard of living than France, which has a 32 hr work week, longer vacation, higher home ownership rate.

So in asking the question, "why are landlords and companies so morally willing to nickle-and-dime citizens, and why are some company employees so willing to sell people generational debt-enslavment disguised as a service".... ... One answer is this idea that the fairly-rich see the super-rich and feel the want or need to socially compete? And meanwhile people working shitty jobs or those jobs where they sell predatory financial services are certainly thinking "I have no choice if I want to pay rent and not be homeless, or if I want my kids to have a stable future." But I can see how the causality behind the whole system is ultimately attributed to rich people socially competing.

Correct. In the UK it depends who(m) a child goes to school with, not the quality of the education. 🤔

Okay. Return to the same tax codes we had in the 70's. Add COLA adjusted annually to the minimum wage and overhaul school funding so it isn't based on the wealth of the school district. I'm sure the backlash would be minimal. 🙄

Most people conform to myths that vary between societies and classes but which all share common features: they're not rational, many or most may not be helpful, and the negative results should be expected to move between the classes. In the U.S. the 'conservative' movement was always anti union. Even as unionized working class workers moved into the middle class and the country's wealth increased more rapidly than at any other time in its history there was a core of Americans, many of them poor, who opposed unions and workers' rights. The same features of 'the boss decides what is right' for workers soon took hold for middle class, white collar jobs. In the 80s and 90s CEOs looted pension funds. It's like you're standing in a line; they're beating up people at the end, and you can't, or refuse to, see that at some point it'll be your turn. (Many of the people who supported Trump are poor, have handled their own finances poorly. They see Donald Trump as a business genius even though it should be obvious to themselves that they are unqualified to make that judgement.) Based on this video it seems like the Germans have better family economics myths than do Americans. Enviable. But American business myths must be more powerful -- otherwise we'd all be using German cell phones instead of Apple iPhones. So the question is not, which society and class are irrational, but is there a way out of believing myths? Or if that's not possible, how to spread adoption of successful myths? (For myself I'd never had much money until one day my child said, "Dad, you never made any money." To which I replied, "Don't you think that if we needed a million dollars, I'd be able to figure out how to get it?" My jobs were always at their core problem solving. Once I applied this to money, it took a dozen years but it wasn't all that difficult. I now understand why among a lot of very smart people, there are a lot of very dumb rich people. There are no really skillful carpenters who are dumb.) Something that was mentioned twice. German trade surpluses (versus the American trade deficit). I remember when the U.S. had trade surpluses. We were very proud. When we began to run deficits we were very worried, we still are. But in the 1990s as the Japanese were buying up a lot of U.S. real estate our worry ended when the Japanese economy imploded. Since then the American economy grew at least 10 times (granted almost all of that went to the top 10%.) I now look at this as "No doctor ever worries about the trade deficit they have with their maid and gardener." Doctors who have these employees are always paying, never profiting (monetarily) -- so if this isn't a problem, might trade surpluses also not (necessarily) be a problem? I don't think American economists are as worried about trade deficits as they once were, and some, as I do, find the German pride in their surpluses, quaint. However, the German myth of their trade surplus caused by good frugal management is likely very much a part of the other successful German economic myths. And what is it the rat race about? It's not the race perhaps so much as it's skewed goals. I ordered an expensive sailboat. My stocks went down last year so I cancelled it. But I signed on to someone else's yacht for 4 months of sailing. Did I want to own the yacht or go sailing? (Thunderstorms are very exciting....on someone else's boat. I felt guilty about it. ) Hopefully this hasn't been complete nonsense to anyone who's read this far.

@jamesmoy1214

Жыл бұрын

Your nonsense has been very helpful

Really interesting bias towards income vs asset ownership. German social mobility is far lower than in the US. It also takes 29 years to build an airport in Berlin, so...

@jamesmoy1214

Жыл бұрын

29 years of less pollution is a good thing. Stay home and do more gardening

@HeadsFullOfEyeballs

Жыл бұрын

In the WEF's "Global Social Mobility Index" of intergenerational social mobility for 2020, Germany ranks 11th while the US rank 27th. You're more likely to go from rags to riches in Germany than in the US.

Required viewing for all those who wonder why the Great NeroLib "Revolution" has made them poorer. 🤔

My father grew up during the depression. He taught me thrift. He was actually very generous with his time and money. I also learned from a quote and from life experience....we do not own our things....they own us. My average work week was 70 hours... "Carpenter" for only 15 years....I retired in 1999 at 48...I saw two of my friends work themselves to death...in their fifties.... But I never really stopped working...if you do that you will likely die young!!!! I'm rambling

@alphasylpheed3861

Жыл бұрын

"we do not own our things....they own us." what does that mean?

It seems like you worked it all out in your head. But I’m not sure that the slice and dice policy is Representative. Of what is taking place.

"Home prices and home rents are fairly low compared to the US" - is this correct Germans? The US is expensive in big urban areas on the coasts but the pandemic has driven prices up lately.

@krisscross5272

Жыл бұрын

That doesn’t sound entirely correct, home prices in big cities with good employment opportunities such as Frankfurt or Munich are astronomical. There is still a large housing stock of low income apartments that are available for middle class households which remove some of the pressure from the rental markets.

Very interesting.

Unfortunately Keynes forgot that by 2030 we’re going to be on a big downslide in energy resources.

@marianhunt8899

Жыл бұрын

Russia has enormous supplies of natural gas. Venezuela has enormous oil reserves. The problem is sociopathic leadership in the West which is unable to play fair. It wants it's own way at all cost. It will go to war and slaughter those who don't agree totally with them. If not war, they will destroy them with sanctions which lead to poverty and resulting deaths.

@jamesmoy1214

Жыл бұрын

Finite resources can only last as long as the speed they’re being use and overconsumption is the killer here

@davehendricks4824

Жыл бұрын

@@jamesmoy1214 unfortunately “killer” is probably the right term here.🤬

@chicagofineart9546

Жыл бұрын

Wrong. We have harnessed the power of the sun through wind & solar energy. It is very near on par with the cost of carbon energy, which has a 200 year head start. The loss of “cheap energy” is a fossil fuel disinformation meme.

@davehendricks4824

Жыл бұрын

@@chicagofineart9546 yea right. A whopping total of 3% is wind and solar. We don’t have enough mines or energy to get the stuff to make all the solar and wind needed. Educate yourself. Cheap energy is over FOREVER.

Sound bloke! ✔

And this is from the people that actually lost the war

@himoffthequakeroatbox4320

Жыл бұрын

The great philosopher James May said: _to win at cars you must first lose at war._

so that sll the economic power is concentrated at the top 1%

German house prices are very high much higher than average US. Not many can buy so thats not true.

So true.

As per Ace those worked on Space agencies and to devoloping future generations make physical landing on earthlike and advance PLANETS reality.We will be willing and Doing physically as well as spiritually

I like the terminology "coordinated economy" better than "social democracy" because in America the social democracy term is being butchered and misused. Having received my education free in Germany before migrating to US, I met so many fellow native Germans who came to America "to make something for themselves" that entrepreneurial spirit that is so American, most that I have met did make it and much of their wealth came through starting a small business and homeownership, which is harder to achieve in Germany. America benefitted from the many well educated immigrants who decided to live here, why is it so hard for this country to understand that free education is a direct investment into their citizenry?

@strayCATchillspot

Жыл бұрын

😰democracy in name🤤🤤🤤OLIGARCHY in practice...💯

@MaryJohanna

Жыл бұрын

@@strayCATchillspot I now live in the US where we have a Oligarchy for sure. I never experienced the same living, working in Germany.

I like to built holistic math models to solve problems. So, per my model we differ here: European economic data were based on post-war policies rooted in both fiscal and anti-integration policies. Those policies were a failure as admitted by Merkel. Your data does not account for this change very well because it never really measured it or tracked it until recently.

@himoffthequakeroatbox4320

Жыл бұрын

Word salad.

Interesting . . . since social mobility in Germany is quite low

@alphasylpheed3861

Жыл бұрын

Low. In comparison to whom?

@e.o.s.4768

Жыл бұрын

@@alphasylpheed3861 Other developed countries

@alphasylpheed3861

Жыл бұрын

@@e.o.s.4768 Name those countries and specify the metric you are using, i.e. a study, or at least a scholarly article. I'll wait... Peaceful sky...🕊

@e.o.s.4768

Жыл бұрын

@@alphasylpheed3861 You can google it yourself; it's not that hard; the study shows up right away; Anyway, you seem upset; and I didn't mean to do that; I was just making an observation; cheers

@alphasylpheed3861

Жыл бұрын

@@e.o.s.4768 What does me being upset have to do with anything? 😃 I mean, just pretend I am a well-adjusted adult and that no matter how sad/mad/suicidal I get, I will probably get over it. ...and I am still waiting... burdeon of proof is on you. I mean, you say, "it's not that hard" and yet you use opportunity to just do it. I mean, what is your excuse for not just providing it? I suspect I know the reason why...but... When people call me out on my assertions I do the cutting and pasting and quoting myself. I've been at this a long time and the only time I have said google it to someone was in sarcasm or because they said it to me earlier. Well, anyhow, as they say in Ukraine... Peaceful sky! 🕊

Home prices and rents are lower in Germany? Are you kidding me?

Excellent … would have been nice to hear more about other social democratic countries in Europe. Also … how they got there … how protected against neoliberal policies etc. Thanks!

inb4 the "YYyyYyyYeBbbut ThEY cAN ONlY do iT beCAuSe they dOn'T pAY tHeIr naTo FeA's iNnIT" clowns. Edit: My bad - Steve Bellend got here first.

My wife and I did quite well on under $12,000 in the US. It definitely takes a different mindset.

@strayCATchillspot

Жыл бұрын

😂😂😂😂😂😂😰🤔 crap...

@garrettmillard525

Жыл бұрын

how long ago?

The Con Job of Supply Side economics did nothing of what Reagan promised. Deficit went up not down. The fight for labor never develop, it actually caused the opposite as wealth systematically attack labor. Add healthcare inflation, where healthcare was 8.9% of GDP in 1980. It now is 18.2% while the service of healthcare has gotten far worse. The only thing that did happen? America now teeters on becoming an Plutocracy as we now have a wealth gap greater than in the Gilded Age. Unregulated Capitalism is only a transformational state of being as it will always cannibalize itself into an Oligarchy. You will pay taxes or someday pay an Oligarch, but you will always be paying someone!

They know this but the greed motive or drive is like a raging cancer.

...and asset consumption

this last comment too wouldn't go through unless we did what we must today. i'm wondering if its the %s or the correct punctuation that tickles their hackles. I don't think I say anything that provocative. Don't want to take this personally. That way lies insanity. Everybody knows that.

work is for suckers. Being a koch brother, or owning a chunk of johnson and johnson or even a few hundred thousand shares of bayer or coca cola. thats where its at

The average cost of a home in Germany is about $800.00 to $914.00 US per sq ft. The average cost of a home in the U.S. is $222.00, both as of December 2022. Where did this guy get his numbers?

@Shatterfury1871

Жыл бұрын

Around half of the Germans rent but the rent is state dictated.

@HeadsFullOfEyeballs

Жыл бұрын

@@Shatterfury1871 I _wish_ rents here in Germany were state-controlled! They aren't, you pay as much as the market will bear (unless you live in social housing, which is very scarce). Poorer people in densely populated areas end up spending like 50% of their income on rent.

@Shatterfury1871

Жыл бұрын

@HeadsFullOfEyeballs So it is only a part of the market, damn same.

What is the homeless rate in Germany compared to the USA? I would expect less in Germany but this is perhaps a very complicated question because mental health and alcohol and other drug abuse are definitely primary factors for my experience talking to homeless people in my area and this has been anecdotally confirmed by other people. Wikipedia has a page "List of sovereign states by homeless population" with numbers that don't seem to make sense but perhaps it's correct. Germany has almost double the homeless rate of USA. Diesel and other pollution causing dementia mental health problems with seniors could be a big factor. And that is probably worse in Germany, housing affordability is certainly a factor also. Also family structure probably plays a very important role and protecting vulnerable elderly family members.

@himoffthequakeroatbox4320

Жыл бұрын

Diesel doesn't cause dementia.

@jimsykes6843

Жыл бұрын

I don't know what you're trying to say. As a U.S. citizen (born and raised) currently living for a year in Berlin, i can tell you that this society is vastly, vastly, vastly - vastly - better than what we have in the U.S. Homelessness is a big problem in Berlin. It still doesn't seem as bad as the U.S. The homeless in Berlin tend to have drug and alcohol problems or mental problems; they often ask for money but I don't feel they're threatening. In the U.S. you have a lot of homeless people who seem aggressive and angry, and some of them have problems that arose BECAUSE the U.S. system is so unforgiving and so expensive. My 20 year old nephew came to visit me. The first thing he said when getting off the U-Bahn (subway) - unprompted - was "wow, everyone looks so happy here."

@jamesmoy1214

Жыл бұрын

Wikipedia, Seriously?Apparently you can’t figure things out by reading what you read unless you can verify it yourself which you can’t without seeing it yourself

Who wants to work less? What medication can I take to work 24/7? Don't be lazy - work, work... become billionaire. Then you're allowed to take 2 days off.

@HeadsFullOfEyeballs

Жыл бұрын

That is not how you become a billionaire.

It's all in Marx.

#profg

"Rhine capitalism" Germany is years ahead in this subject. By comparison, the US is still in the stone age. Eventually people will find that the economy works best when all the people have money to spend and the time to spend that money. That'll minimize the poverty. That'll may also mean the end of capitalism as we know today. Look at the US in 1920s, look at the US today. capitalism is failing. By 2030, there are two classes in the US, master class and servant class. Chance of you(and your descendants) falling into the master class is 1 in 1000(or higher). Those Trumpers will love it.

yes! lets all be like germany !! its so great compared to the us!..they have such a great history of ..uh..."equality"...sheeesh Modern history didnt start in the 1980s. I wonder why they picked that arbitrary date and not say... the 1940s?? hmmmm????

😎

German spend less than they produce. That's why they are richer than other European countries. Why should They start wanting to work less ? I don't understand

if you think poor workers work longer hours than the well to do you have never been to : law school, been an associate or jr partner in a large law firm, been pre med, to medical school or residence where 100 hour weeks are common, or been in a start up technology firm where eveyrone is working 7 days per week or they are gone. Clearly you missed the mark in some of your readings.!!!

"local and upward looking"

Germany: A country whose government gives a shit about its citizens.

@arnodobler1096

Жыл бұрын

what? Just ask as a German

@strayCATchillspot

Жыл бұрын

🤤🕊😂🤤😂🤤😂😂😂😂😂😂ok...your lost

At this point in the U.S. working long hours and still struggling economically is a self perpetuating cycle - too little time, too much stress, and high risk of financial disaster precipitated by events outside of one's own control (health crisis, etc.) = increased use of fantasy and distraction, and a burgeoning sense of helplessness, especially where convoluted political processes are concerned. It's hard for the average person to fight their way through the steps necessary to resolve this system of economic parasitism by the wealthy.

Bismarck? What does he have to do with Americans living in cars? Which, is not the problem in the USA. There are two major reasons for homeless camps; drug addiction/alcoholism and perverse construction policies in major American cities which restrict the ability of builders to create new homes. As for social safety nets resulting in less crime; that's laughable. The opposite has happened in the USA.

@arnodobler1096

Жыл бұрын

In Germany, we have less crime, partly because of our social network. Our justice system is also designed more for rehabilitation, see prisons.

@HeadsFullOfEyeballs

Жыл бұрын

Why, under capitalism, would builders create homes for people who can't afford to pay the market price for them? A certain level of homelessness is advantageous for them anyway, the same way high unemployment is advantageous for businesses. It "disciplines" renters/workers (i.e. reduces their bargaining power) because they know that if they don't accept the bad deal on offer, somebody even more desperate will.

@patricksullivan4329

Жыл бұрын

@@HeadsFullOfEyeballs "ed) Why, under capitalism, would builders create homes for people who can't afford to pay the market price for them?" You are right, they wouldn't. But, according to the consumption statistics, they did just that. Which means that either the consumption or income statistics is WRONG. And we have recent analysis of the income statistics--in the book 'The Myth of American Inequality'--that proves it's the income stats that are not valid. E.g., the Census does not count all the income Americans in the bottom two quintiles have at their disposal. And it's a pretty big discrepancy. Boosting the income of the bottom two groups by proper accounting raises, by definition, the median income. When that is done, along with a few other tweaks to the data, the two groups of statistics agree. Aren't you glad you asked? Btw, your analysis of unemployment is wrong. Well, incomplete. While large of numbers of people looking for work may hold down wages, it also holds down their purchasing power. That's bad for corporations looking to sell their products. Both corporations/businesses and workers/consumers, both buy and sell. The 'reserve army of the unemployed' is disadvantageous for businesses. Something that didn't occur to Karl Marx.

All that wealth and prosperity of the Germans and some Europeans was subsidized by cheap and reliable Russian Gas. Now that is going away and the economic competitiveness of Germamy and Europe are going to decrease dramatically. Europe subordinated to the US amd now have ruined their economies.

@arnodobler1096

Жыл бұрын

.ucker Carlson?

@Anerisian

Жыл бұрын

He talks long-term, Russian gas was brief Merkel-era politics (who‘s a conservative), and made up a significant, but still smaller share of energy still. I shall remind Americans and others riding on a high horse, that their leadership, too, were frolicking with Putin on a regular basis.

@himoffthequakeroatbox4320

Жыл бұрын

They only started using so much gas due to Merkel's overreaction to Fukushima. That's relatively recent.

@casteretpollux

Жыл бұрын

Correct. Europe is all out of fossil fuel and the US Gov has blown up the European economy/Nordstream.

He doesn’t know anyone who sends their kids to private schools? Public schools are far from free. Another Keynesian trash story. Cool story bruh.

@bladdnun3016

Жыл бұрын

He's talking about Germany. Public schools are free for parents / pupils here, except for some field trips.

We have Ronald Reagan to thank for this fiasco.

I wonder what all those protest in Germany are about? lol. what a joke

This guy needs to look at wealth inequality instead of income inequality and also get real about the number of hours people need to work. We're not nearly as automated as we'd need to be for a 15 hour work week. Robots aren't even a good solution to replacing a McDonald's worker yet. AI hasn't come closed to fulfilling its promises of potential and probably won't for several decades. This is a pipedream.

@screenarts

Жыл бұрын

And when it does, you think they will pay you? Yeah, they will pay you 15 hours and pocket the rest. We will not share in the productivity increase as evidence by today. They give us the finger.

@Zero11_ss

Жыл бұрын

White castle already had a robot that could do the burgers and fries early pandemic. Mcdonalds also had news about a test run place this year. They will still need some workers but not nearly as many as they have now.

@KhaavrenKat

Жыл бұрын

The robots can perform some of the functions of a human yes. But not all, and they don't adapt to new requirements or edge cases without expensive retooling. And yes they have them as proof of concept, but they're WAY more expensive than minimum wage smartest biocomputer humans.

@TheJayman213

Жыл бұрын

Thing is, we don't need McDonald's if we just fucking cook our own food. Of course we could work 15 hours.

@himoffthequakeroatbox4320

Жыл бұрын

Even if everything can't be automated, a lot of stuff can - even if it's partially. Just compare a 1970 car factory to a modern one. Is your MAGA hat cutting off the blood to your brain? 🤡 🙄 🤦

Making money is an action. Keeping money is behavior, but “growing money is wisdom”. I found this out a week ago after getting a $10,000 return on my $3,000 investment in 7 days.

@clarencewise2603

Жыл бұрын

@Jaden kloss I invested with Expert Allan Howell, he’s the best.

@Sidorela_Dedja

Жыл бұрын

I invest with him too, I make about a $7,000 weekly.

@jackies5925

Жыл бұрын

I still remember the first week I got in touch with Allan Howell, His strategies was so easy to adopt but I made 2btc directly to my bitcoin wallet.

This man is poorly informed on a number points. America has a very strong welfare state, but its method of gathering statistics disguises that fact. The Census Bureau's income statistics are using a 1947 definition that is completely outdated for the 21st century. Which can be easily demonstrated by noting that the consumption statistics do not jibe with those income statistics. For instance, the bottom quintile (20%) of income earners spend something like 2-1/2 times their reported income. Possible because about 90% of the low income earners money comes from transfers from the top two quintiles' tax payments. The supposed income inequality of the United States is largely a myth. Official statistics showing that the top quintile earns nearly 17 times the income of the bottom one, shrinks to about 4 to one when you adjust for taxes paid (largely by the top earners) and transfer payments (such as various income tax credits like EITC) received. These statistical anomalies are well known to economists.

@arnodobler1096

Жыл бұрын

In Germany there is a registration obligation at the place of residence and identity card obligation. There are homeless people in Germany, too, but not to the extent to the same extent as in the USA. It also depends on how you define it and how you count it. These US villages of US homeless people are hardly present in Germany.

@patricksullivan4329

Жыл бұрын

@@arnodobler1096 Homeless 'villages' didn't used to exist in the USA, except for the odd hobo camp near railroad yards. But the reasons they are now so prominent has nothing to do with the lack of a welfare state. We have that to the tune of almost 3 trillion dollars annually, which is the legacy of The War on Poverty that has been ongoing since 1963.

@arnodobler1096

Жыл бұрын

@@patricksullivan4329 German health care since 1883 by our arch-conservative Chancellor Bismarck to take the wind out of the sails of the SPD Social Democrats! A social safety net also leads to less crime. A few years ago I saw a documentary about US families living in cars, in special parking lots - it made me cry. And it's getting worse.

@strayCATchillspot

Жыл бұрын

🤤😂🤤😂🤤😂🤤😂🤤😂ok...ill ignore the evidence of my own eyes...and listen to your shill SOPHISTRY😂😂😂😂☝

@patricksullivan4329

Жыл бұрын

@@strayCATchillspot Since what you can see with only your own eyes is severely limited, it would be wise not to put much strength on that.

He has much faith in Keynes.

What does he mean when he says centralised wage bargaining mechanisms would be a way to internalise positional externalities implied by positional consumer expenditure? Increasing workers wages would decrease demand for positional goods like elite education and healthcare? Is that not a contradiction of the point about people striving for more money in order to elevate their social position by spending more money? I don't see how higher wages is directly linked to demand for positional consumer goods...