83% of tax cuts to top 1%
Comments
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Blackstone put a 1 billion dollar fund together to buy foreclosures across America. Every house they bought employed people to inspect and buy at the auction or a realtor wrote the offer for the short sale
Every house got remodeled, more jobs. People who lost their homes rent these homes. Property managers get paid
We are close to the 8 year hold where they sell off the assets - lots of commissions.
Just one small example of what billion dollar investments bring back to the economy -
But how does that help working class Americans?!RaceBannon said:Blackstone put a 1 billion dollar fund together to buy foreclosures across America. Every house they bought employed people to inspect and buy at the auction or a realtor wrote the offer for the short sale
Every house got remodeled, more jobs. People who lost their homes rent these homes. Property managers get paid
We are close to the 8 year hold where they sell off the assets - lots of commissions.
Just one small example of what billion dollar investments bring back to the economy -
meanwhile the socialists give gigantic tax cuts to the richest:
https://www.foxnews.com/tech/cuomo-de-blasio-blasted-by-democrats-and-nyc-residents-over-incentive-laden-deal-to-bring-amazon-to-big-apple -
I'm not hearing the OUTRAGE from the usual suspects who like to complain about corporate welfare.Sledog said:meanwhile the socialists give gigantic tax cuts to the richest:
https://www.foxnews.com/tech/cuomo-de-blasio-blasted-by-democrats-and-nyc-residents-over-incentive-laden-deal-to-bring-amazon-to-big-apple -
You mean the mass fraudalent foreclosures perpetrated by Blackstone and others via robosigning and rocket dockets?RaceBannon said:Blackstone put a 1 billion dollar fund together to buy foreclosures across America. Every house they bought employed people to inspect and buy at the auction or a realtor wrote the offer for the short sale
Every house got remodeled, more jobs. People who lost their homes rent these homes. Property managers get paid
We are close to the 8 year hold where they sell off the assets - lots of commissions.
Just one small example of what billion dollar investments bring back to the economy -
I paid my mortgage for 25 years and no one stole my houseHardlyClothed said:
You mean the mass fraudalent foreclosures perpetrated by Blackstone and others via robosigning and rocket dockets?RaceBannon said:Blackstone put a 1 billion dollar fund together to buy foreclosures across America. Every house they bought employed people to inspect and buy at the auction or a realtor wrote the offer for the short sale
Every house got remodeled, more jobs. People who lost their homes rent these homes. Property managers get paid
We are close to the 8 year hold where they sell off the assets - lots of commissions.
Just one small example of what billion dollar investments bring back to the economy
Funny how that works
I met a lot of these folks as they were being removed. Gave a lot of them checks from Blackstone
Most of them would tell you they fucked up. It happens -
Sure some of them were legitimately foreclosed on, but hundreds of thousands if not millions of homeowners were victims of predatory foreclosures where banks used fraudulent paperwork and courts looked the other way.RaceBannon said:
I paid my mortgage for 25 years and no one stole my houseHardlyClothed said:
You mean the mass fraudalent foreclosures perpetrated by Blackstone and others via robosigning and rocket dockets?RaceBannon said:Blackstone put a 1 billion dollar fund together to buy foreclosures across America. Every house they bought employed people to inspect and buy at the auction or a realtor wrote the offer for the short sale
Every house got remodeled, more jobs. People who lost their homes rent these homes. Property managers get paid
We are close to the 8 year hold where they sell off the assets - lots of commissions.
Just one small example of what billion dollar investments bring back to the economy
Funny how that works
I met a lot of these folks as they were being removed. Gave a lot of them checks from Blackstone
Most of them would tell you they fucked up. It happens -
I can agree with some of that. If they are buying newly issued stock of a corporation, you are correct. But companies are buying back stock right now, not issuing new shares. Same with banks, they need to find places to lend money right now.. So new cash into a bank, in the current economy, isn't helping banks lend.UW_Doog_Bot said:
Well for one, as I said, you are wrong by the definition you invoked.2001400ex said:
What part of this discussion do you disagree with? I'd like to hear your thoughts.UW_Doog_Bot said:
That's your opinion and it's cute. Economists disagree and for good reasons. I can innumerate them if you'll bother to listen. Either way, I'd suggest you don't invoke your knowledge of Economics in future discussions.2001400ex said:
Holding positions in stock or cash in a back is not adding a significant resource to the economy. Now if they invest it in New businesses, then of course it's coming back into the economy. Or if they are spending it on toys. But that's not what happened, there's not one wealthy person who stopped and said "I have 2.2 billion instead of 2.1 billion in the bank because of the tax cut so now I'm going to start this new business."UW_Doog_Bot said:
Lol at this. Rich people don't have giant scrooge McDuck vaults of gold coins(well maybe the Saudis do). They invest their money. Which is very arguably a better use of resources for an economy long term than short term consumables that the poor use. Either way, it is cycled into the economy though, which defeats your point.UWhuskytskeet said:
They save it. Poor spend it. Pretty fucking simple actually.SFGbob said:
It's clear you were talking out your ass and now can't back up your mouth. What do the rich do with their money that keeps it out of the economy Hondo?2001400ex said:It's clear you've never had money or known anyone with money.
And even if they did have a vault of gold coins it would still be a form of investment as those assets don't come from thin air.
I'd suggest that you guys stop invoking your superior knowledge of economics as validation for your positions.
But more directly, holding stock and holding cash in a bank are actually forms of investment. Banks use the money as reserves which allow them to loan the money out for investments on such things as "new" businesses or say, home mortgages. Holding stock, similarly, costs money to buy, which when bought allows a company to fund further capital investments or other expenses.
And even barring all of that, storing assets, which is what you are attempting to use as an example I assume, creates a store of value as a future option, which has economic value. Keynesians will even tell you that breaking a window or building bridges to nowhere have economic value since that money is cycled back into the economy. I would argue that's inefficient but as C-dawg likes to point out, I only have a BS
You are actually helping me make my point. If we were in a recession, I totally agree with you. But we aren't, so the influx of money to the wealthy isn't spurring investment. Labor participation rate is basically unchanged and unemployment is just a fraction lower. -
Except that stock buy backs go where exactly? It's not enough to act that money gets dead ended somewhere. That's almost never the case. And as I pointed out, macroeconomics will literally tell you that even if it does that it doesn't matter. Buy bullets and shoot them into the ocean. You've still paid an ammunition supplier.2001400ex said:
I can agree with some of that. If they are buying newly issued stock of a corporation, you are correct. But companies are buying back stock right now, not issuing new shares. Same with banks, they need to find places to lend money right now.. So new cash into a bank, in the current economy, isn't helping banks lend.UW_Doog_Bot said:
Well for one, as I said, you are wrong by the definition you invoked.2001400ex said:
What part of this discussion do you disagree with? I'd like to hear your thoughts.UW_Doog_Bot said:
That's your opinion and it's cute. Economists disagree and for good reasons. I can innumerate them if you'll bother to listen. Either way, I'd suggest you don't invoke your knowledge of Economics in future discussions.2001400ex said:
Holding positions in stock or cash in a back is not adding a significant resource to the economy. Now if they invest it in New businesses, then of course it's coming back into the economy. Or if they are spending it on toys. But that's not what happened, there's not one wealthy person who stopped and said "I have 2.2 billion instead of 2.1 billion in the bank because of the tax cut so now I'm going to start this new business."UW_Doog_Bot said:
Lol at this. Rich people don't have giant scrooge McDuck vaults of gold coins(well maybe the Saudis do). They invest their money. Which is very arguably a better use of resources for an economy long term than short term consumables that the poor use. Either way, it is cycled into the economy though, which defeats your point.UWhuskytskeet said:
They save it. Poor spend it. Pretty fucking simple actually.SFGbob said:
It's clear you were talking out your ass and now can't back up your mouth. What do the rich do with their money that keeps it out of the economy Hondo?2001400ex said:It's clear you've never had money or known anyone with money.
And even if they did have a vault of gold coins it would still be a form of investment as those assets don't come from thin air.
I'd suggest that you guys stop invoking your superior knowledge of economics as validation for your positions.
But more directly, holding stock and holding cash in a bank are actually forms of investment. Banks use the money as reserves which allow them to loan the money out for investments on such things as "new" businesses or say, home mortgages. Holding stock, similarly, costs money to buy, which when bought allows a company to fund further capital investments or other expenses.
And even barring all of that, storing assets, which is what you are attempting to use as an example I assume, creates a store of value as a future option, which has economic value. Keynesians will even tell you that breaking a window or building bridges to nowhere have economic value since that money is cycled back into the economy. I would argue that's inefficient but as C-dawg likes to point out, I only have a BS
You are actually helping me make my point. If we were in a recession, I totally agree with you. But we aren't, so the influx of money to the wealthy isn't spurring investment. Labor participation rate is basically unchanged and unemployment is just a fraction lower.
Sure, banks are currently flush with cash, there is an imbalance, they will find places to invest though. Simply because they currently have more deposits doesn't mean that they will keep a higher reserve % from now on. I can tell you anecdotally that our industry is booming with capital investment which is good for PM's like me.
Also, the fed is raising rates, which is a whole nother' conversation. -
Urban legendHardlyClothed said:
Sure some of them were legitimately foreclosed on, but hundreds of thousands if not millions of homeowners were victims of predatory foreclosures where banks used fraudulent paperwork and courts looked the other way.RaceBannon said:
I paid my mortgage for 25 years and no one stole my houseHardlyClothed said:
You mean the mass fraudalent foreclosures perpetrated by Blackstone and others via robosigning and rocket dockets?RaceBannon said:Blackstone put a 1 billion dollar fund together to buy foreclosures across America. Every house they bought employed people to inspect and buy at the auction or a realtor wrote the offer for the short sale
Every house got remodeled, more jobs. People who lost their homes rent these homes. Property managers get paid
We are close to the 8 year hold where they sell off the assets - lots of commissions.
Just one small example of what billion dollar investments bring back to the economy
Funny how that works
I met a lot of these folks as they were being removed. Gave a lot of them checks from Blackstone
Most of them would tell you they fucked up. It happens
