Business, Economics, and Taxes: Capitalism. Yay? >=(

[FadeToBlack&Gold]

Whoever you are economically -- rich or poor, conservative or liberal -- just imagine an alternative timeline for America than what we just went through.

Clearly I consult for the wrong industry sectors.

 

[Kepler]

Clearly I consult for the wrong industry sectors.

 

[Kepler]

HIGHER FUCKING TAXES a

 

[dxmnkd316]

Maybe not quite the phrasing I'd have used

So far, the Chinese leadership appears inclined to allow a default. “Beijing would only be compelled to step in if there is a far-reaching contagion causing multiple major developers to fail and posing systemic risks to the economy,” S&P Global Ratings wrote in a note on Monday.

https://www.washingtonpost.com/worl...witter&utm_medium=social&utm_campaign=wp_main

chinas housing bubble is popping to the tune of $300 billion for one company alone.

 

[rufus]

Maybe not quite the phrasing I'd have used



https://www.washingtonpost.com/world...mpaign=wp_main

chinas housing bubble is popping to the tune of $300 billion for one company alone.

They certainly have seemed to fully embrace all aspects of Capitalism.

 

[dxmnkd316]

Difference is, they might learn

 

[Handyman]

Difference is, they might learn

Not a chance in hell they learn. In fact when they implode it is going to be way worse. They already manipulate things to make them better as is, when their housing crash hits it will make our crisis look like a blip on the radar and they don't have the greed and capitalistic experience to fix the issue fast enough. They can talk about how this isn't their "Lehman Moment" all they want to but if they let them default it will definitely be said moment.

And since they have zero tact they will probably be more severe with how they deal with it putting people at risk not only financially...

And the market correction that will cause around the world will be devastating.

 

[Kepler]

The Chinese are perfect for full unadulterated capitalism. No pesky human rights to get in the way. Just a purely efficient model subsuming all other human activity for the benefit of the elite. The Protestant Ethic and the Spirit of Capitalism works even better with the Mandate of Heaven.

Maybe that will be the 21st Century: the final triumph of Authoritarian Capitalism.

 

[Kepler]

And since they have zero tact they will probably be more severe with how they deal with it putting people at risk not only financially...

The one fun part of this is that in the PRC the Jamie Diamond types will literally be put against a wall and shot.

Obviously not the CPC, who are just as guilty, but hey, at least a few billionaires will die.

 

[Kepler]

This woman won the Democratic primary for the Mayor of Buffalo, which has been Democratic for 30 years. Usually she would be presumptive mayor-elect. Problem: the incumbent she beat is trying to steal the election. Reason: she's a Democratic Socialist.

Real estate development : local politics :: institutional finance: national politics.

It is always the same. Money > people.

 

[Drew S.]

Looks like John McEnroe is now leading the charge for higher taxes on the rich. I didn’t see that one coming.

 

[RaceBoarder]

Looks like John McEnroe is now leading the charge for higher taxes on the rich. I didn’t see that one coming.

Interesting. What is he saying?

And although I'm sure he is well-off, I don't exactly picture him as some sort of mega-elite figurehead.

 

[Kepler]

Interesting. What is he saying?

And although I'm sure he is well-off, I don't exactly picture him as some sort of mega-elite figurehead.

Yeah, but he's a jock, and worse from L.I., so I assumed he would have all the self-serving mythology of rich people from that environment.

Good on him if he's a dirty red like me.

 

[RaceBoarder]

Yeah, but he's a jock, and worse from L.I., so I assumed he would have all the self-serving mythology of rich people from that environment.

Good on him if he's a dirty red like me.

I get that he's probably rubbed elbows with many in/around the Hampton's over the years. Google says his net worth is ~$100m. Better than I figured (I assumed $25-40m). But still not exactly close to being a billionaire, which is where we need a spokesperson to come forth from.

 

[Drew S.]

I get that he's probably rubbed elbows with many in/around the Hampton's over the years. Google says his net worth is ~$100m. Better than I figured (I assumed $25-40m). But still not exactly close to being a billionaire, which is where we need a spokesperson to come forth from.

I’m kind of surprised he’s worth that much. Maybe he’s done well with real estate and investments? I only saw part of the interview but his point was he is paying 40 to 50 percent in taxes every year and billionaires should be as well. It would have been nice if the guy doing the interview didn’t keep interrupting him.

 

[Kepler]

I get that he's probably rubbed elbows with many in/around the Hampton's over the years. Google says his net worth is ~$100m. Better than I figured (I assumed $25-40m). But still not exactly close to being a billionaire, which is where we need a spokesperson to come forth from.

We have them. Warren Buffet wants us to tax the rich up the wazoo. Is Soros a billionaire?

There are a few who get it.

 

[Kepler]

This is The Way*.

* For now.

 

[MissThundercat]

Michigan's last K-Mart is closing.

 

[aparch]

Michigan's last K-Mart is closing.

Meanwhile the holding company for Sears/K-Mart is also closing their lone remaining Sears store in Illinois.

One article says that from the late '90s heyday of the two corporate giants, just 19 Sears stores and 15 K-Mart stores remain nationally.

 

[unofan]

Meanwhile the holding company for Sears/K-Mart is also closing their lone remaining Sears store in Illinois.

One article says that from the late '90s heyday of the two corporate giants, just 19 Sears stores and 15 K-Mart stores remain nationally.

It amazes me that the company that used to sell full houses through a mail order catalog somehow missed out on online retail.