Posted on 03/19/2015 10:12:30 PM PDT by Perseverando
"This gap between the 1% and the rest of America, and between the US and the rest of the world, cannot and will not persist," warns renowned trader Paul Tudor Jones during his recent TED Talks speech, as he addressed the question - can capital be just? Hoping to expand the "narrow definitions of capitalism," that threaten the underpinnings of society, Tudor Jones exclaims, "we're in the middle of a disastrous market mania," adding "one of worst of my life." Perhaps most ominously, he concludes, historically this ends "by revolution, higher taxes or wars. None are on my bucket list."
Can capital be just? As a firm believer in capitalism and the free market, Paul Tudor Jones II believes that it can be. Tudor is the founder of the Tudor Investment Corporation and the Tudor Group, which trade in the fixed-income, equity, currency and commodity markets. He thinks it is time to expand the “narrow definitions of capitalism” that threaten the underpinnings of our society and develop a new model for corporate profit that includes justness and responsibility.
It’s a good time for companies: in the US, corporate revenues are at their highest point in 40 years. The problem, Tudor points out, is that as profit margins grow, so does income inequality. And income inequality is closely linked to lower life expectancy, literacy and math proficiency, infant mortality, homicides, imprisonment, teenage births, trust among ourselves, obesity, and, finally, social mobility. In these measures, the US is off the charts.
(Excerpt) Read more at zerohedge.com ...
Or all 3
Yeah. They already have a name for that. It's called:
The great separation in wealth distribution happens when you wipe out the middle class, and that happens when you put massive numbers of working people out of work.
We have never seen so many people out of work.
If they will make a decision to move industry back onshore, shut down illegal immigration completely, shut off legal immigration to some decent minimum, shut off the H1B to some decent minimum and put Americans back to work, you’ll see the distribution of wealth take on a more healthy balance. Make it easier to hire people, make it easier to work for yourself, and likewise.
How about a flat/fair tax and eliminate our massive bureaucracy and insane welfare system too.
the middle class is being squeezed...
when we lost the Bush tax cuts, the disparity in incomes just rocketed....
I would be in favor of giving tax PAYERS a big tax rebate or cut back in taxes....make us feel like its worth it to work....
Absolutely. Anyone who isn't planning to eliminate whole federal departments of government doesn't understand the problem.
And for more than one reason I favor the flat/fair tax. There is no such thing as freedom without financial privacy.
I wonder how all the large number of liberals in the 1% and even higher are figuring they’re going to be immune from their dire predictions.
Or do they just assume the rioters and looters are going to know they’re liberal and somehow spare them.
I believe they call it "White Privilege." </Snark>
Is “white privilege” level 3, 3a or 4 protection?
“Or do they just assume the rioters and looters are going to know they’re liberal and somehow spare them.”
I really do think they assume just that.
Well then, maybe normalcy bias is going to be beneficial in some ways.
While I respect Mr. Jones’ intentions (and his bank account), I have to disagree with his solution to the problem.
A very long story short, it’s a corrupt public educational system, media, and not the least is government itself (including most of the alphabet agencies) that first and foremost refuses to adhere to the spirit as well as the letter of the Constitution.
Fix that and any corporate badboys and badgirls will be reduced to a mere annoyance.
Toltarian regimes such as the 0bama regime foster unrest among us peasants.
According to Yahoo News several weeks ago the top 1% in most states is a family income of about $330K to $380K per year. What that means is that there no significant statistical difference between Bill Gates and an a accountant. There just are not that many super wealthy people
The top 5% stats at about $200K per year.
The “Vast wealth gap” is another lie perpetrated by demonrats.
It assumes among other things a flawed perception of what money is. When money was gold coins the fact that Bill Gates has so much meant that it was possible I’d not have enough. With paper currency that is simply not the case.
The way to address the “Wealth gap” is to create jobs and have welfare bums to get off their butts and work
...”How about a flat/fair tax and eliminate our massive bureaucracy and insane welfare system too.”...
A good start would be to eliminate the massive bureaucracy.
...”While I respect Mr. Jones’ intentions (and his bank account), I have to disagree with his solution to the problem.
A very long story short, it’s a corrupt public educational system, media, and not the least is government itself (including most of the alphabet agencies) that first and foremost refuses to adhere to the spirit as well as the letter of the Constitution.
Fix that and any corporate badboys and badgirls will be reduced to a mere annoyance.”...
Well said!
He was famously short stocks before Black Monday in 1987 (that was a Very Big Day for you who don't recall).
Now then, as to the solution, the problem is this: the great America was built by individuals who were human. A highly effective prosperity machine that the beneficiary of the entire human race can only be the product of virtue. An informed conscience is required for the application of virtue. If you breed the conscience out of the race, the prosperity machine fails. When you have bred the conscience out of the race, you've also bred out wisdom, common sense, and the fear of God. Without those, sound decisions cannot be made; leadership exercises folly, and people demand laws that are intended to impose the virtues they have lost on the society. But it doesn't work that way. Virtue doesn't come from Government, it comes from God.
Having diminishing virtues and wisdom, challenges and crisis result in foolish, costly and ineffective responses. These snowball in cost and demoralize the people, who lose confidence in their leaders. Social instability increases, while some pine for a magical leader to make everything right again. If a big enough crisis comes, as it inevitably will, leaders will panic. It's the perfect storm of human stupidity, energized by technology, information, and capital.
This is the world we live in.
Another factor is the impossibility for businesses to start up and grow. Such businesses would be providing competition to these corporations with bloated profits and insane stock prices. Two main factors are impossible government regulations on small businesses and unfair competition from foreign products.
Globalism is working just fine, for the globalists. For the 95% or so of the 'little folks", civilization is falling apart at the seams. Not just in the US, but globally.
That revolution the author speaks of? One might contend it's already begun, globally and even in the US.
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