{"id":43183,"date":"2019-01-26T09:18:44","date_gmt":"2019-01-26T14:18:44","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43183"},"modified":"2019-01-26T09:18:47","modified_gmt":"2019-01-26T14:18:47","slug":"why-deal-with-structural-issues-when-you-can-simply-engage-in-wealth-grabs","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43183","title":{"rendered":"Why Deal With Structural Issues When You Can Simply Engage in Wealth Grabs?"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/gainspainscapital.com\/2019\/01\/25\/11295\/\">Why Deal With Structural Issues When You Can Simply Engage in Wealth Grabs?<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">They\u2019re coming for your money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Everything Bubble has burst and the debt markets are in distress. We\u2019ve already seen yields rise above their long-term downtrend, suggesting that higher debt costs are now a reality.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/gainspainscapital.com\/wp-content\/uploads\/2019\/01\/GPC12519.png\" alt=\"\" class=\"wp-image-11293\"\/><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Because any real structural solution to this (cutting social programs\/ defaulting on debts) means political suicide, the political elite are desperate for capital to continue funding the bloated government budget.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Already Oxfam is proposing a 1% tax wealth tax to solve the \u201ccrisis.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you think that\u2019s bad, consider that the&nbsp;<strong>IMF has proposed a 10% wealth tax on total net worth.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And we are seeing Presidential hopefuls such as Elizabeth Warren calling for a 2% tax on wealth for those worth more than $50 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All of this is being sold as \u201cmaking things fair\u201d or \u201cbattling inequality\u201d but the reality is that none of these organizations or people really care about that stuff. If they did care they would be proposing solutions that had a chance of possibly working (even a lifetime 100% wealth tax on anyone worth more than $1 million wouldn\u2019t cover the US deficit for more than a year or two).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What they care about is finding money to continue funding Big Government.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you think this will stop at those with net worth in the eight figures, you\u2019re mistaken. Nebulous financial concepts such as \u201cfairness\u201d are ALWAYS moving goalposts in the hands of socialists.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Indeed, already legislation is in place to use savings deposits to prop up any systemically important financial institution during the next crisis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I\u2019m not talking about savings deposits over $1 million\u2026 I\u2019m talking about savings deposits PERIOD.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why Deal With Structural Issues When You Can Simply Engage in Wealth Grabs? They\u2019re coming for your money. The Everything Bubble has burst and the debt markets are in distress. We\u2019ve already seen yields rise above their long-term downtrend, suggesting that higher debt costs are now a reality. Because any real structural solution to this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,3393,17853,21771,382,8208],"class_list":["post-43183","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-debt-market","tag-everything-bubble","tag-gains-pains-and-capital","tag-governments","tag-wealth-confiscation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43183"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43183\/revisions"}],"predecessor-version":[{"id":43184,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43183\/revisions\/43184"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}