Thursday, April 30, 2015
On Thomas Piketty's Hair-Brained/Wile E Coyote Notion that it's the Differential in Growth Between Capital and GDP Which Produces Income Inequality
This is surface-thinking that outstrips even that of Paul (Mr. phony alien invasion trillion dollar platinum coin) Krugman. Yes, capital has a record of consistently outperforming GDP. But it is hardly a guarantee for individual investors in that, while, yes, the potential rewards are higher, the potential risks are also higher and the fact of the matter here is that the real income of actual human beings in the top 1% has actually shown a DECREASE over time (earners in the top 1% - THE ACTUAL HUMAN BEINGS - in 1996 saw a 26% decrease in their earnings by 2005). I mean, I know that it's probably too much to ask of these hot-wired leftists to think beyond the initial effects of an action and all but this is wholly embarrassing. Beep beep!