It would be nice if these huge investment bankers would lessen their grips on
the oil futures markets. Currently around 92% of all oil futures investments
are by speculators who will never touch the stuff while only 8% are hedgers who
actually use oil in their processes. Not too long ago the ration was 70/30 in
favor of hedgers. There is too much money in oil futures and each memorial day
as people get into their cars, the investors decide to go ahead and buy up the
oil and ratchet up the price of gas in the process.Meanwhile, the
everyday person is trying to get to work on 3.50 to 4.50/gallon gas prices. And
what's really ridiculous is that there is a major push to reverse the oil
export ban and sell our oil to the Chinese thus contributing to the problem,
hurting our economy and national security in the process.
Me too, and its my job to increase my skill set and value such that a competing
company(or current company) will pay me more money.Its not my rich
CEO's job to start giving me more of his money.A
"success" to liberals would be having 100% of the nation just above the
poverty line - then we'd all be equal.Its those of us at the
bottom and middle that need to increase our skills and value. Lets not be lazy
and suggest a rich person needs to give us what he's earned.And
if no company on earth is willing to pay me more than I currently make - its
because I don't add enough value to justify a higher wage.
To Blakenstein and all like him, I say put up or shut up. One year of his
multimillion dollar salary could permanently change hundreds of people's
lives for the better.
One of the best ways to help the distribution of wealth is to make education
affordable. Don't make students graduate in $10s of thousands of debt.
Put a tax in place on all higher income levels that goes directly to help pay
for education. Not just a BA/BS degree, but trade specific schools as well. I also think it is time to lower corporate tax rates so more of the
income is reported in the US (think Apple) and at the same remove / eliminate
corporate welfare. Increase the upper percentage on earners. They only make
the huge salaries in the US because of the freedoms, the base consumers, the
infrastructure that is here. Much of it was paid for by the middle
class.....the same folks that lost trillions over the past 6 years.
For a couple of decades now, wealth has been trickling up from the middle class
to the wealthy, to the tune of trillions of dollars. And that trend continues.
Too much wealth concentrated at the top is bad for the economy. It's bad
for the middle class and it's bad for the wealthy. Sooner or later, that
trend will be reversed... either peacefully or violently. Policies will be
implemented to reverse this trend or else the masses will eventually rise up and
overthrow the oligarchy. History has shown this is inevitable. I believe this
CEO is merely advocating for the peaceful solution.
There is no equality, because people are not the same.I don't
have the same income as the Obama's, or Clinton's! I don't have
annual vacations to Hawaii, or have a two million dollar house in New York.So what!
Taxpayers bailed out the too big to fail banks, including Goldman Sachs, in
'08. Within the next year or so the big banks will be failing again because
they're back to their old tricks. And again, will look to the taxpayers to
save them.Money, or more specifically the flow of money determines
the health of the economy. When the rich horde huge sums of money it takes it
out of circulation, and the economy slows.When the majority of
people lack money to spend on goods and services, employers are forced to reduce
the number of people they employ, the number of jobless goes up.I
doubt that Blankfein truly believes that the economy is growing as he says in
the interview. He is too smart to swallow the figures that the govt.
manipulates and then tries to get the people to believe. Until
Blankfein accepts a lower CEO salary, setting an example for other overly paid
CEOs, and the money is used to increase wages of those at the bottom in his
company, with all his wealth he will be, IMO, a hypocrite. Eye of the Needle,
I worry for my kids. I don't think they stand a chance in life. Appliances
use to last longer than 7 years, cars didn't cost a lot for a used, windows
never needed to be replaced. Every thing is made to get new all the time so
you're looking for something. I doubt that banker is up in the night if he
has any concern for any person who barrows, charges or hock their property.
The problem is with the word "grabbing." It implies that income growth
just happens, and those mean old one-percenters race out and grab it before we
can. In the real world, income growth doesn't occur unless
people make it grow.
"Policies will be implemented to reverse this trend or else the masses will
eventually rise up and overthrow the oligarchy."History records
very few instances of this working out. For every Cuba 1959 or Russia 1917,
there are three or four instances where the riser-uppers get dumped out of
airplanes over the South Atlantic, or meet some comparably colorful demise. And of course even when the riser-uppers do get to shoot the Czar, they
inevitably just wind up constituting a brand new oligarchy of their own.