A Quote by Thomas Pogge
The bottom half of humanity is living in severe poverty; not all of them are malnourished or severely deprived now, but they are extremely vulnerable to even small upsets in their income or in the prices they face of basic necessities, and when something like this happens, they can be thrown off kilter in terms of a disease of a family member or a change in food prices; anything like that can throw them into destitution.
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In the richest country in the history of the world, this Obama economy has crushed the middle class. Family income has fallen by $4,000, but health insurance premiums are higher, food prices are higher, utility bills are higher, and gasoline prices have doubled. Today more Americans wake up in poverty than ever before.
Poverty persists, essentially, because the people at the bottom - the bottom quarter and also the bottom half - see the gains from the rising global average income wiped out by severe declines in their relative share.
Stock prices turn people's heads. When prices are high, we treat a company like gods, and if they drop, we treat them as fools.
Stock prices are likely to be among the prices that are relatively vulnerable to purely social movements because there is no accepted theory by which to understand the worth of stocks....investors have no model or at best a very incomplete model of behavior of prices, dividend, or earnings, of speculative assets.
Just from a political perspective, do you think the president of the United States going into re-election wants gas prices to go up higher? Look, here's the bottom line with respect to gas prices: I want gas prices lower because they hurt families.
I am astonished at the high prices paid for works by painters who are dead, prices none of them could expect when they were alive. It is a kind of tulip trade, in which living painters suffer but do not profit.
The poverty line understates the true amount of poverty because it measures it as three times the breadbasket that a family needs, but it doesn't consider all the other things that are inflating far, far faster than food prices.
There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to something. People tend to view the prices they’re used to as normal and prices removed from these levels as aberrant. This perpective leads people to trade counter to an emerging trend on the assumption that prices will eventually return to “normal”. Therein lies the path to disaster.
You can't tell me you can make any system or country work with low wages and high prices, and high wages with high prices don't mean anything when the prices eat up the wages and don't leave anything over.
Nobody sold prints then and prices didn't mean anything. In terms of earning your living, it was a joke.
We must act now and wake up to our moral obligations. The poor and vulnerable are members of God's family and are the most severely affected by droughts, high temperatures, the flooding of coastal cities, and more severe and unpredictable weather events resulting from climate change. We, who should have been responsible stewards preserving our vulnerable, fragile planet home, have been wantonly wasteful through our reckless consumerism, devouring irreplaceable natural resources.
What happens when corn and wheat prices rise is that we see real increases in malnutrition and under-nutrition. And when children are malnourished, their brain development actually slows down and is affected. So this is not just a short-term impact.
Most people out there are just trying to keep their job and provide for their family. If climate change is now a once-in-a-mortgage problem, and if food prices start to spike, people will pay attention.
Food and energy account for a significant portion of household budgets, so the Federal Reserve's inflation objective is defined in terms of the overall change in consumer prices.
You could raise the price of, say, a bottle of ketchup to $1.03 instead of $1, and no one would know. Raising prices just 3% per product would add 50% to your pretax income. Why not do it? It's like heroin: You do a little and you want a little bit more. Raising prices is the easy way.
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