I would say no. Would you like to make an argument otherwise?Is this analogous to using the term slave for today's economic issues?
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I would say no. Would you like to make an argument otherwise?Is this analogous to using the term slave for today's economic issues?
I would say no. Would you like to make an argument otherwise?
That's an argument?I would agree. It makes about as much sense as saying the stock market is the food stamp of the 1%.
If I remember correctly, the only major history-changing economic event of any magnitude during the 70's was when Nixon completely decoupled the dollar from gold.From 1948 to 1973, the productivity of all nonfarm workers nearly doubled, as did average hourly compensation. But things changed dramatically starting in the late 1970s. Although productivity increased by 80.1 percent from 1973 to 2011, average wages rose only 4.2 percent and hourly compensation (wages plus benefits) rose only 10 percent over that time, according to government data analyzed by the Economic Policy Institute.
http://www.nytimes.com/2012/09/03/opinion/henry-ford-when-capitalists-cared.html
I randomly came across this article out of the blue while reading the Internet. I can't really remember how I found it, but it mentions:
If I remember correctly, the only major history-changing economic event of any magnitude during the 70's was when Nixon completely decoupled the dollar from gold.
It seems like more than a coincidence that when money became unstable, wages and productivity lost their historical positive correlation.
If that's true, it shouldn't be shocking that businesses have figured out how to manage the delinking between gold and the dollar by breaking the bond between productivity and wages.
Maybe people should be less for food stamps and more for a stable money policy.
Just saying.
I randomly came across this article out of the blue while reading the Internet. I can't really remember how I found it, but it mentions:
If I remember correctly, the only major history-changing economic event of any magnitude during the 70's was when Nixon completely decoupled the dollar from gold.
It seems like more than a coincidence that when money became unstable, wages and productivity lost their historical positive correlation.
If that's true, it shouldn't be shocking that businesses have figured out how to manage the delinking between gold and the dollar by breaking the bond between productivity and wages.
Maybe people should be less for food stamps and more for a stable money policy.
Just saying.
Maybe people should be less for food stamps and more for a stable money policy.
Americans are violent, stupid, lazy, and full of hate.
You do realize that your paragraph states the cause of the panic as Germany abandoning a stable money policy.This is what the gold standard does for the economy.
And the right has hasn't learned a damn thing!
Panic of 1873
The Panic of 1873 was a financial crisis which triggered a severe international economic depression in both Europe and the United States that lasted until 1879, and even longer in some countries. The depression was known as the "Great Depression" until the 1930s, but is sometimes now known as the Long Depression.<SUP id=cite_ref-1 class=reference sizset="false" sizcache08176588838272547="61 149 11" jQuery18309753283828603243="11">[1]</SUP> The panic was caused by the fall in demand for silver internationally, which followed Germany's decision to abandon the silver standard in the wake of the Franco-Prussian war.<SUP id=cite_ref-madhouse_2-0 class=reference sizset="false" sizcache08176588838272547="61 149 13" jQuery18309753283828603243="14">[2]</SUP>
In 1871, Otto von Bismarck extracted a large indemnity in gold from France and ceased minting silver thaler coins. The first symptoms of the crisis were financial failures in the Austro-Hungarian capital, Vienna, which spread to most of Europe and North America by 1873. It was one of a series of economic crises in the 19th and early 20th centuries. In Britain, the result was two decades of stagnation known as the "Long Depression", which weakened Britain's economic leadership in the world.<SUP id=cite_ref-3 class=reference sizset="false" sizcache08176588838272547="61 149 21" jQuery18309753283828603243="17">[3]</SUP>
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<SUP>Continue</SUP>
I have no faith. I stopped voting.Americans are violent, stupid, lazy, and full of hate.
Yet, you expect them to understand the connection between sound money and wages.
You have more faith than I do.
You do realize that your paragraph states the cause of the panic as Germany abandoning a stable money policy.
I'm not pro-gold, I'm pro-stable money. Nixon withdrew us from Bretton-Wood. Bretton-Wood was a loose and casual link to gold, but even a casual link to gold can ensure stable money for three decades.
But I guess I should provide an actual rebuttal to your post.
My response to the Panic of 1873 is, As companies increasingly make more profits $$$$$ due to productivity (getting more output per hour) gains; this has NOT meant a commensurate increase in corporations employees wages. In fact adjusted for cost-of-living increases that far surpass inflation; American workers wages have actually DECREASED since 1980.
but even a casual link to gold can ensure stable money for three decades.
My response to the Panic of 1873 is, As companies increasingly make more profits $$$$$ due to productivity (getting more output per hour) gains; this has NOT meant a commensurate increase in corporations employees wages. In fact adjusted for cost-of-living increases that far surpass inflation; American workers wages have actually DECREASED since 1980.
So once again, your proof that stable money policies don't work are instances where governments abandoned stable money policies.Coinage Act of 1873
The decision of the German Empire to cease minting silver thaler coins in 1871 caused a drop in demand and downward pressure on the value of silver; this had a knock-on effect in the USA, where much of the supply was then mined. As a result, the Coinage Act of 1873 was introduced and this changed the United States silver policy. Before the Act, the United States had backed its currency with both gold and silver, and it minted both types of coins. The Act moved the United States to a 'de facto' gold standard, which meant it would no longer buy silver at a statutory price or convert silver from the public into silver coins (though it would still mint silver dollars for export in the form of trade dollars)<SUP id=cite_ref-7 class=reference sizset="false" sizcache027015064669727234="61 149 54" jQuery18306956087135985136="31">[7]</SUP>
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The Act had the immediate effect of depressing silver prices. This hurt Western mining interests, who labeled the Act "The Crime of '73." Its effect was offset somewhat by the introduction of a silver trade dollar for use in the Orient, and by the discovery of new silver deposits at Virginia City, Nevada, resulting in new investment in mining activity.<SUP id=cite_ref-8 class=reference sizset="false" sizcache027015064669727234="61 149 56" jQuery18306956087135985136="34">[8]</SUP> But the coinage law also reduced the domestic money supply, which raised interest rates, thereby hurting farmers and anyone else who normally carried heavy debt loads. The resulting outcry raised serious questions about how long the new policy would last.<SUP id=cite_ref-9 class=reference sizset="false" sizcache027015064669727234="61 149 58" jQuery18306956087135985136="37">[9]</SUP> This perception of instability in United States monetary policy caused investors to shy away from long-term obligations, particularly long-term bonds. The problem was compounded by the railroad boom, which was in its later stages at the time.
In September 1873, the American economy entered a crisis. This followed a period of post-Civil War economic over-expansion that arose from the Northern railroad boom. It came at the end of a series of economic setbacks: the Black Friday panic of 1869, the Chicago fire of 1871, the outbreak of equine influenza in 1872, and demonetization of silver in 1873.
Machines don't create productivity, the human brain does when it thinks of new processes for old activities or new activities to replace the old. Its not magic and the machine doesn't come from nowhere.Congratulations, you must have stayed awake in Econ 101 (if you took it).
This is was Adam Smith said, this is what Karl Marx said, this is what John Maynard Keynes said and this is at the essences of the struggle between the Laissez Faire, free market capitalist and the Social Democrat.
Productive has always risen since the advent of machines to make work easier, but it increased dramatically during the late 1880s. The average worker did not share in that productivity increase, thus the worker's movement coalesced.
Despite Nixon's Bretton Wood, the economy during the entire 1970s continued to grow and productivity rose and there wasn't a major financial bank crisis in the United States between the end of WWII and the 1980s until the S & L Crisis of the 1980s and the Black Monday Crash of 1987.
Machines don't create productivity, the human brain does when it thinks of new processes for old activities or new activities to replace the old. Its not magic and the machine doesn't come from nowhere.
How did the cotton gin come into being without a human mind?Oh really?
What was the affect on slavery after the Cotton Gin was invented. Slaves weren't paid or compensated any way for their labor.
How about an assist rather than throwing them out of the country? Scumbag republiklans think nobody ever needs help unless they happen to be rich bankers on Wallstreet. Everybody else is a burden on society and should be ostracized then kicked the fuck out of their own country.
-VG

How did the cotton gin come into being without a human mind?
And are you implying that slaves didn't get paid because of the cotton gin? Or maybe you're saying slaves should have just unionized? Or maybe you're saying that your posts in this had been about slavery this whole time?
Help me out.
Food stamps aren't an assist? While I do feel bad for 'some' people who are in this predicament, any assistance will further increase the tax burden on those who are working, and may be barely making it themselves... I ain't got time for that shit either...![]()
So you don't want to help me out? To me you come across as a fucking idiot, but I asked a series of questions to help me understand your intent.Genius, you can't wipe your ass without your mind.
Stop with the ridiculous question evasions.
This is a basic American history question. I'm not implying anything, the answer is concrete.
What was the affect on slavery after the Cotton Gin was invented. Slaves weren't paid or compensated any way for their labor.
Either you do know or don't know.
So you don't want to help me out? To me you come across as a fucking idiot, but I asked a series of questions to help me understand your intent.
Should I just go with you're a fucking idiot and work from there?
What was the affect on slavery after the Cotton Gin was invented. Slaves weren't paid or compensated any way for their labor.
Either you do know or don't know.
When a company pays sub living wages, they profit at the expense of the tax payer. Because people can't feed their families on their wages they get assistance from the government. Another expense to the tax payer. At the same time, companies are getting tax breaks, another load on the tax payer.
If Walmart, for example paid a living wage, this would lessen the need for the government to get involved.
Corporations get away with murder.
Unbridled unregulated capitalism has always solely been about making money $$$$$$$. The more money a corporation earns, the higher the shareholder value (the stock price).
The British East India Corporation started in 1600 plowed the path for today’s mega-corporations. This corporate model regards ‘labor’ as expendable. This corporate model always attempts to pay ‘labor’ as little-as-possible and will pay nothing (using work slaves) if they can get away with it.
Think of the Cecil Rhodes- Oppenheimer De Beers South African gold & diamond Mining Corporation which ‘paid’ it’s Black workers virtually nothing while earning billions of dollars. The free market propagandist will say that the De Beers treatment of its workers was ‘good’ since those dirty Blacks got all they were worth; dirt under their fingernails.
The British East India Corporate model is still intact in this 21st century. Mitt RMoney’s vulture capital firm Bain is a paragon of today’s “turbo-capitalism”. RMoney’s Bain Capital which despite him declaring himself “retired” is the source of his $20 Million dollars annual income took a profitable $1.8 billion company named Sensata, which paid its workers $17 -$20 dollars and for the solitary reason to make more money $$$$$$ sent the company and its jobs to China where the Chinese workers will be paid 99 cents to $1.35 an hour to work 12-hour shifts, seven days a week.
It’s all about greed $$$$$$$$$$$$$.
When the machine tools used at Sensata are shipped to China, the safety mechanisms that are attached to the machines to due U.S. laws which mandate occupational safety, will be removed since Chinese laws don’t mandate such safety precautions and without the safety mechanisms productivity (making more money $$$$$ faster) will rise. Who at Bain gives a damn if a Chinese Sensata worker loses a finger or an eye while manufacturing the product; its all about more money for shareholders, fuck ‘labor’- they are nothing but expendable 'rats' in the corporate machine.
Wal-Mart and many others employ this model of capitalism inherited from the legacy of the 1600’s British East India Corporation. This unregulated human exploitative 17th century capitalism has resulted in gargantuan piles of billions of dollars, controlled by less than 250,000 people worldwide, sitting offshore in the Caymans, Isle of man, Liechtenstein, Dubai, etc.
Meanwhile the free market propagandists insist that the world’s industrial nations deregulate further — ending any minimum wage laws, ending any safety regulations, ending any usury laws, ending Social Security, ending Medicare/ Medicaid— enabling a quick descent back to barbarism; Social Darwinism. Read THIS for a recap of how pure greed without any concerns about social justice, participation or democracy (civilization) has become the celebrated form of today’s modern capitalism.
Meanwhile as the aforementioned article points out, the global banksters have set up a ‘funny money’ system which evaluates a six employee internet company named INSTAGRAM to be worth $1,000,000,000 ($1 Billion) which another ‘funny money’ internet company FACEBOOK paid to buy them. For $1,000,000,000 ($1 Billion) you could of bought the Avis Car rental company in 2011 @ $12 dollars a share, a global company with 20,000 employees. Now you know why many call the banksters company valuations ‘funny money’.

There's never been any such thing as "Unbridled unregulated capitalism" unless I'm allowed to call the USSR and China, pure socialism or communism.A Call to the Defenders of Capitalism, Against Regulation:Right or wrong, Muckraker10021 has some rather pointed opinions regarding "unregulated" capitalism. Will those whose opinions previously expressed on this board that appear to stand in contradiction to Muckraker's view -- either admit Muckraker's view of unregulated capitalism to be true - or - turn those words on their head ? ? ?
My response to the Panic of 1873 is, As companies increasingly make more profits $$$$$ due to productivity (getting more output per hour) gains; this has NOT meant a commensurate increase in corporations employees wages. In fact adjusted for cost-of-living increases that far surpass inflation; American workers wages have actually DECREASED since 1980.
The cotton gin prolonged and expanded chattel slavery. Slavery was diminishing in the U.S. prior to the introduction of the cotton gin.
The cotton gin invented in 1794 turned the Mississippi delta from a mud patch into the economic 'wall street' of the South.
Slave breeding soared, as more slaves were needed and the ships carrying slaves from Africa were banned in 1807.
Machines don't create productivity, the human brain does when it thinks of new processes for old activities or new activities to replace the old. Its not magic and the machine doesn't come from nowhere.
One of your many problems is you're too use to preaching to the choir.Exactly! Thank you.
So...
<iframe width="420" height="315" src="http://www.youtube.com/embed/KdMyasDMWSw" frameborder="0" allowfullscreen></iframe>
http://rapidshare.com/files/3210361055/Emp.O.Ill_2009.rar

I'll make 6,000,001 if this pack don't land wed