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The charts demonstrate that rich people don't create jobs

Discussion in 'Political Debate & Discussion' started by billwald, Dec 10, 2011.

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  1. billwald

    billwald New Member

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    http://www.alternet.org/story/15330...be_killed_for_our_economy_to_live?page=entire

    For you that worry about inflation:

    "First things first: Has the dollar lost value under Bernanke and Obama? No. The usual measure for the strength of the dollar is called "trade-weighted value." In July 2008, just before the financial crisis erupted in earnest, the greenback's value stood at 95.4. As I'm writing this in mid-September, it has gone up, then down, and is currently sitting at 96.1.Taking a longer view, the dollar lost value under Reagan and Bush I, gained value under Clinton, lost value under Bush II, and has mostly stayed steady under Obama. There's just no basis to the claim that Obama and Bernanke have debased the currency."
     
    #1 billwald, Dec 10, 2011
  2. mandym

    mandym New Member

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    Now there is a credible story. :rolleyes:
     
    #2 mandym, Dec 10, 2011
  3. OldRegular

    OldRegular Well-Known Member

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    Try going to the grocery store. Either the value of food is approaching its weight in gold or the dollar is losing value.
     
    #3 OldRegular, Dec 10, 2011
  4. OldRegular

    OldRegular Well-Known Member

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    Mother Jones? Mother Jones? You can't be serious billwald.

    That being said I believe it is an overblown claim that the rich people create jobs. Demand creates jobs. That demand can be created by a clever inventor; consider Steve Jobs and the iPod. But rich people don't normally throw away their money producing a product that don't sell. That is unless they can stick it to the taxpayer, like Obama and the Solyndra people did.
     
    #4 OldRegular, Dec 10, 2011
  5. seekingthetruth

    seekingthetruth New Member

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    Oh yeah, gas and milk are much more affordable now that the Messiah is in office. :laugh:

    By the way, Bill, do you know of any poor people that have created jobs?

    John
     
    #5 seekingthetruth, Dec 10, 2011
  6. billwald

    billwald New Member

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    Money inflation is measured against other major currencies, not the price of milk. That's price inflation, not money inflation.
     
    #6 billwald, Dec 10, 2011
  7. Arbo

    Arbo Active Member
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    Oh come on... if it's on Alternet.org, it must be true. ;) :rolleyes:
     
    #7 Arbo, Dec 10, 2011
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