- Capitalism and Alternatives -

Thanks for the anecdotes

Posted by: Stoller on December 01, 1999 at 10:25:16:

In Reply to: Pointlessness posted by Dr. Cruel on November 30, 1999 at 10:39:17:

Fact: '71% of households own no shares at all or hold less than $2,000 worth in any form, including mutual funds, 401(k)s, and traditional pensions.' (Business Week, 1 Setember 1997, p. 67.)

: This is me. I'm not wealthy, either (but I hope to be).

: In effect, I speak as one of these so-called ‘workers’. It is to my poor advantage that the indomitable Mr. Stoller presumably labors...

Thanks for the anecdotes.

Fact: Market returns only 'fatten the wallets of the top quarter of households, which own 82% of all stock.' (Ibid.)

: Hmm. 82% of stock ends up "fattening one's wallet". Perhaps I should start putting some money into the stock market, after all ...

As long as you're in the lucky 25%, great...

: One can see why Mr. Stoller would not want to comment on this, it being an indictment of certain ‘creative statistical usage’.

I JUST did comment.

Fact: 'The right defining statistic for the last two years is the negative savings rate [for average Americans] first recorded in September 1998. Negative savings rates hadn't been seen since 1933.' (New York Times, 18 January 1999, sec. A, p. 17.)

: Negative savings is not a good thing. I fail to see how murdering all the businessmen might help (other than removing the means by which people fall into debt; i.e. by purchasing products).

Perhaps if the money system was ABOLISHED and products were made for HUMAN NEED instead of only profits, there wouldn't be so much debt sustained by the working class...

Fact: Total household debt is 98% of total disposable annual income. (Business Week, 1 November 1999, p. 40.)

: They are referring to something called a "house mortgage", I think.


Let's see YOU quote some authorities for once...

I threw the rest of your ranting post in the trash where it belongs...

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