I could be wrong, but I think your concerns about "elites" is a proxy for the concerns that many of us have about the fading American Dream - the idea that each generation will do as well or better financially than their parents. Raj Chetty at Harvard and a team of researchers have done extensive work on this:
One of the defining features of the “American Dream” is the ideal that children have a higher standard of living than their parents. We assess whether the U.S. is living up to this ideal by estimating rates of “absolute income mobility” – the fraction of children who earn more than their parents – since 1940.
We measure absolute mobility by comparing children’s household incomes at age 30 (adjusted for inflation using the Consumer Price Index) with their parents’ household incomes at age 30. We find that rates of absolute mobility have fallen from approximately 90% for children born in 1940 to 50% for children born in the 1980s. Absolute income mobility has fallen across the entire income distribution, with the largest declines for families in the middle class. These findings are unaffected by using alternative price indices to adjust for inflation, accounting for taxes and transfers, measuring income at later ages, and adjusting for changes in household size.
The work of Chetty and his team shows that the odds of achieving the American Dream went from an almost sure thing to those no better than a coin flip in just over 40 years (two generations). Some will think this was intentional. I tend to think it was "accidental" in the sense that our policy makers don't always understand how their ideas will play out over extended periods of time.
Thanks for the reply. Your information is excellent, and I could not quantify the stagnation and the losses in economic opportunity the late Boomers, and the nation has seen. This is another view of the problem of our government and the system created that harms all of us.
Intentionality vs. accidental. Conspiracy theories like JFK assassination, 9/11, and the computers show things that happen in synchronicity. Jung came up with the term synchronicity. Could it be a function of; chance, collective consciousness (God's will), or conspiracy (man's will) . I have to read more on Jung and this topic to educate myself. I don't know; I'm limited with time and this feeble brain.
As humans, we are all limited by the amount of information we can take in with our senses and mortality. I hear that someday eyes may be created that see more than light, perhaps x rays or very low-frequency sounds. Perhaps neural implants will assist in gathering information in other ways. What would that do to human consciousness? The Techno-human, transhumanism. Internet of bodies, health, and freedom. These are the next Justice issues. Is it right to create a better man than what God created? God wanted us to participate in creation as evidenced by; God giving Adam the ability to name creatures God was creating. Is man hastening evolution evil or good? These are the questions we all must answer.
I gotta say I let the Boomers and Gen=Xers off to easily. SOMEBODY taught these kids to go $100K in college debt in order to "follow their PASSIONS." That's GREAT if You can turn Your passion into a living wage. But, better still, have a PASSION for MAKING A LIVING. Too many kids that didn't work out that way.
As far as Boomers being "Me Generation" and beggaring their great grandkids with so many TRILLIONS of govt. debt? Got be them that started the "tradition" right? Not likely to be them who ends it, either. But all that is long conversation that isn't really my specialty, so there is that.
I'm a boomer, and my engineering degree (BSEE) cost about $14.000 dollars. Schools raised prices. A lot of my wealth, about half came from inheritance. I lost $300.000 of my 401K, in 2000 in the tech crunch. I had 10 cents on the dollar and built up my account again, investing in China. At the same time, I had to change careers to become an RN. YOU FORGET INHERITANCE IN THE CALCULATIONS. Some of the wealth accumulation comes from inheritance.
The past 40 years sucked with frozen wages, NAFTA, changing to a service economy. It is not the boomers that created the debt. It was the foreign wars and the country building from Bush through Trump. The Vietnam war was paid for by Social Security money. SO DON'T PLAY THE VICTIM. Right now I am living like a pauper so I could pass wealth on to my millennial son.
Biden and Trump created trillions in debt, paying off Boeing for a plane that wanted to crash itself, airlines that did not fly, cruise ships that did not sail and franchise restaurants and retailers that had no sales. I got a 1000 dollar check, which was about five cents on the dollar to what the elites got.
Check out the Bayh/Dole act of 1980, where the Government provides research billions of dollars, in grants, from the NIH. Fauchi gives companies and universities billions each year for Pharma. American taxpayers get no royalties on drugs patented and developed. Pharma then charges the US, the highest prices in the world for drugs. These drugs are licensed for manufacture as generics in other countries. Molnupiravir, the cure for HepC, AIDS and others are examples of such drugs. The taxpayer pays 8 billion a year for AIDS drugs to be given in Africa. Fauchi pushes drugs and withholds others. Medical Literature is based on what drugs the NIH advocates. You only write papers if you get money. Money is behind making repurposed drugs like Ivermectin, and Hydroxychloroquine from being successful. There is very little profit in curing bacterial infections and virus infections. There is more profit in curing chronic diseases like high cholesterol or diabetes.
Fauchi may have seen an opportunity to develop new antivirals and vaccines at the cost of the taxpayer. Is Fauchi a devil or an angel? Could the monies paid by the American Taxpayer for Pharma research be recompense for colonial ambitions?
Ivermectin (Stops glycosylation of the virus) and Hydroxychloroquine (a Zn ionophore, mitigates immune response, inhibits glycosylation, inhibits RNA replication)
Fauchi has power that people do not realize. The Bayh/Dole act created the machinery for making the best pharmaceuticals, at the cost of the American Taxpayer, and it has corrupted the medical system.
Years of giving that money to corporations have bankrupted the American people. Tax breaks for the wealthy to offshore money, treating China as a developing country with favored trading status, exporting jobs, hiding money, and now ruining our Government. Has anyone taken China off these trading statuses?m Maybe the hostilities with China are not real, just like climate change and living in the Hamptons, Martha's Vinyard, or Maura Lago. Words vs. behaviors create distrust..
It is not the boomers; it is not a system of racial inequity, it is the system of corruption. GET YOUR AGE, RACE, GENDER, CULTURAL GLASSES OFF. LOOK AT REALITY. It is the elite corrupting our Government.
"IP Advocate: Beyond misuse and misinterpretation, what is the worst you have seen?"
"Dr. Barnett: It comes down to money. Nowhere does it say that Bayh-Dole was intended to earn big bucks for universities. Yet many universities and corporations in the system skip right for the money, any way they can get it. Ironically, apart from some rare, substantial transactions over the nearly 30 years of Bayh-Dole, universities haven't got all that much of the money, and have done even worse at the other stuff, such as dealing with software and data.
"The problems also show up with university inventors. I've seen money-driven behavior with federal funding that wouldn't do so well if it surfaced in the press. It isn't that money driven behaviors are themselves bad. It's just that within a university, in the conduct of science and other public interested research, it's the public interested part that gets squeezed out. Who advocates for the public interest in the push and pull between inventors and administrators over Bayh-Dole inventions?"
Got one other to read first thing tomorrow. Then will think on this some.
One of the problems is the NIH that provides the funding then advocates these drugs get pushed. Fauchi did that with AIDS and AZT. He advocated Tamaflu which does nothing. He told the Bush administration to stockpile it. He pushed Remdesivir which did nothing. Studies I believe were skewed on Ivermectin and Hydroxychloroquine. I guess dexamethasone is OK to use, but that's a steroid that mitigates immune response, By giving out money and advocating what gets used, they control what gets researched. Molnupiravir was shelved. Mat Taibbi wrote an article saying cronyism is behind much of what is advocated.
Why does the US pay the highest drug prices in the world when the taxpayer funds research and development of the drug? The cure for Hepatitus C is an excellent example. HIV is another example. Maybe enough data on the medicine is not available so newer medications are used in developing countries. Bill Gates was giving out vaccines for HPV in Africa supposedly killing many girls. It was given out as a general health drug.(1) Maybe this is false, I don't know
PrEP (Pre Exposure Prophylaxis )vaccines are being tried out in Africa now for HIV (2). Truvada and other new drugs may be used there for study.
I'm at the end of a long day. Let's see... 14 hours at computer. But I don't need a study of this kind to tell me the obvious. IOW, I agree completely. Didn't have good instincts on the exact numbers. Dunno when the study was done but I've seen this for a decade or two without really even looking into it.
PART of it, to me anyway, is that the Millenials and Gen-Zers expected the world to be handed to them on a platter, and got a bad attitude when it didn't. Sure, over-generalization but answers some questions anyway. But Boomers and GEn-Xers? AFAIK, had a lot to do with raising a large number of kids that didn't have much respect for authority of any kind other than themselves.
Can't remember when. Long ago. Person who ONLY writes on race complained that she was getting shuffled to side where she works, because she's fifty. Said she might hafta tgake up ageism but didn't. Yah, ALL generations think they know everything and their parents are idiots. But most grow OUTTA that in their 20s, right? Or maybe that isn't the way the world works now, but I'mn a dreamer. I think of how it should/could work.
My comment to the article was that I thought it a fairly strange society that the young know everything there IS to know. And these are the generations that "know" it's better to be "non-binary" when it comes to males and females. Hmph. Mebbe You can smell that I'm not impressed, but don't claim to be "on the right side of history." Wouldn't WANNA be, if that's what it takes.
Like I said. Too tired.., I get up around 2 or 3am so my days PAST done. TY for reply, M. Roscoe. :)
Here's a response to you and NROL34 Odin:
I could be wrong, but I think your concerns about "elites" is a proxy for the concerns that many of us have about the fading American Dream - the idea that each generation will do as well or better financially than their parents. Raj Chetty at Harvard and a team of researchers have done extensive work on this:
https://opportunityinsights.org/paper/the-fading-american-dream/
Here's an excerpt:
One of the defining features of the “American Dream” is the ideal that children have a higher standard of living than their parents. We assess whether the U.S. is living up to this ideal by estimating rates of “absolute income mobility” – the fraction of children who earn more than their parents – since 1940.
We measure absolute mobility by comparing children’s household incomes at age 30 (adjusted for inflation using the Consumer Price Index) with their parents’ household incomes at age 30. We find that rates of absolute mobility have fallen from approximately 90% for children born in 1940 to 50% for children born in the 1980s. Absolute income mobility has fallen across the entire income distribution, with the largest declines for families in the middle class. These findings are unaffected by using alternative price indices to adjust for inflation, accounting for taxes and transfers, measuring income at later ages, and adjusting for changes in household size.
The work of Chetty and his team shows that the odds of achieving the American Dream went from an almost sure thing to those no better than a coin flip in just over 40 years (two generations). Some will think this was intentional. I tend to think it was "accidental" in the sense that our policy makers don't always understand how their ideas will play out over extended periods of time.
Thanks for the reply. Your information is excellent, and I could not quantify the stagnation and the losses in economic opportunity the late Boomers, and the nation has seen. This is another view of the problem of our government and the system created that harms all of us.
Intentionality vs. accidental. Conspiracy theories like JFK assassination, 9/11, and the computers show things that happen in synchronicity. Jung came up with the term synchronicity. Could it be a function of; chance, collective consciousness (God's will), or conspiracy (man's will) . I have to read more on Jung and this topic to educate myself. I don't know; I'm limited with time and this feeble brain.
As humans, we are all limited by the amount of information we can take in with our senses and mortality. I hear that someday eyes may be created that see more than light, perhaps x rays or very low-frequency sounds. Perhaps neural implants will assist in gathering information in other ways. What would that do to human consciousness? The Techno-human, transhumanism. Internet of bodies, health, and freedom. These are the next Justice issues. Is it right to create a better man than what God created? God wanted us to participate in creation as evidenced by; God giving Adam the ability to name creatures God was creating. Is man hastening evolution evil or good? These are the questions we all must answer.
I gotta say I let the Boomers and Gen=Xers off to easily. SOMEBODY taught these kids to go $100K in college debt in order to "follow their PASSIONS." That's GREAT if You can turn Your passion into a living wage. But, better still, have a PASSION for MAKING A LIVING. Too many kids that didn't work out that way.
As far as Boomers being "Me Generation" and beggaring their great grandkids with so many TRILLIONS of govt. debt? Got be them that started the "tradition" right? Not likely to be them who ends it, either. But all that is long conversation that isn't really my specialty, so there is that.
I'm a boomer, and my engineering degree (BSEE) cost about $14.000 dollars. Schools raised prices. A lot of my wealth, about half came from inheritance. I lost $300.000 of my 401K, in 2000 in the tech crunch. I had 10 cents on the dollar and built up my account again, investing in China. At the same time, I had to change careers to become an RN. YOU FORGET INHERITANCE IN THE CALCULATIONS. Some of the wealth accumulation comes from inheritance.
The past 40 years sucked with frozen wages, NAFTA, changing to a service economy. It is not the boomers that created the debt. It was the foreign wars and the country building from Bush through Trump. The Vietnam war was paid for by Social Security money. SO DON'T PLAY THE VICTIM. Right now I am living like a pauper so I could pass wealth on to my millennial son.
Biden and Trump created trillions in debt, paying off Boeing for a plane that wanted to crash itself, airlines that did not fly, cruise ships that did not sail and franchise restaurants and retailers that had no sales. I got a 1000 dollar check, which was about five cents on the dollar to what the elites got.
Check out the Bayh/Dole act of 1980, where the Government provides research billions of dollars, in grants, from the NIH. Fauchi gives companies and universities billions each year for Pharma. American taxpayers get no royalties on drugs patented and developed. Pharma then charges the US, the highest prices in the world for drugs. These drugs are licensed for manufacture as generics in other countries. Molnupiravir, the cure for HepC, AIDS and others are examples of such drugs. The taxpayer pays 8 billion a year for AIDS drugs to be given in Africa. Fauchi pushes drugs and withholds others. Medical Literature is based on what drugs the NIH advocates. You only write papers if you get money. Money is behind making repurposed drugs like Ivermectin, and Hydroxychloroquine from being successful. There is very little profit in curing bacterial infections and virus infections. There is more profit in curing chronic diseases like high cholesterol or diabetes.
Fauchi may have seen an opportunity to develop new antivirals and vaccines at the cost of the taxpayer. Is Fauchi a devil or an angel? Could the monies paid by the American Taxpayer for Pharma research be recompense for colonial ambitions?
Ivermectin (Stops glycosylation of the virus) and Hydroxychloroquine (a Zn ionophore, mitigates immune response, inhibits glycosylation, inhibits RNA replication)
Fauchi has power that people do not realize. The Bayh/Dole act created the machinery for making the best pharmaceuticals, at the cost of the American Taxpayer, and it has corrupted the medical system.
Years of giving that money to corporations have bankrupted the American people. Tax breaks for the wealthy to offshore money, treating China as a developing country with favored trading status, exporting jobs, hiding money, and now ruining our Government. Has anyone taken China off these trading statuses?m Maybe the hostilities with China are not real, just like climate change and living in the Hamptons, Martha's Vinyard, or Maura Lago. Words vs. behaviors create distrust..
It is not the boomers; it is not a system of racial inequity, it is the system of corruption. GET YOUR AGE, RACE, GENDER, CULTURAL GLASSES OFF. LOOK AT REALITY. It is the elite corrupting our Government.
Ah well... Got WAY distracted on another Substack. Read this from MIT student 2005 which was mebbe overly hopeful. Hindsight being 20/20:
http://web.mit.edu/lawclub/www/Bayh-Dole%20Act.pdf#:~:text=The%20Bayh-Dole%20Act%20has%20created%20opportunities%20for%20conflict,while%20simultaneously%20funding%20these%20faculty%20members%E2%80%99%20research.%20%2816%29
THIS one fascinated me, but couldn't find a DATE it was written:
http://ipadvocatefoundation.org/stories/120409/
Part I thought was MOST significant was:
"IP Advocate: Beyond misuse and misinterpretation, what is the worst you have seen?"
"Dr. Barnett: It comes down to money. Nowhere does it say that Bayh-Dole was intended to earn big bucks for universities. Yet many universities and corporations in the system skip right for the money, any way they can get it. Ironically, apart from some rare, substantial transactions over the nearly 30 years of Bayh-Dole, universities haven't got all that much of the money, and have done even worse at the other stuff, such as dealing with software and data.
"The problems also show up with university inventors. I've seen money-driven behavior with federal funding that wouldn't do so well if it surfaced in the press. It isn't that money driven behaviors are themselves bad. It's just that within a university, in the conduct of science and other public interested research, it's the public interested part that gets squeezed out. Who advocates for the public interest in the push and pull between inventors and administrators over Bayh-Dole inventions?"
Got one other to read first thing tomorrow. Then will think on this some.
One of the problems is the NIH that provides the funding then advocates these drugs get pushed. Fauchi did that with AIDS and AZT. He advocated Tamaflu which does nothing. He told the Bush administration to stockpile it. He pushed Remdesivir which did nothing. Studies I believe were skewed on Ivermectin and Hydroxychloroquine. I guess dexamethasone is OK to use, but that's a steroid that mitigates immune response, By giving out money and advocating what gets used, they control what gets researched. Molnupiravir was shelved. Mat Taibbi wrote an article saying cronyism is behind much of what is advocated.
Why does the US pay the highest drug prices in the world when the taxpayer funds research and development of the drug? The cure for Hepatitus C is an excellent example. HIV is another example. Maybe enough data on the medicine is not available so newer medications are used in developing countries. Bill Gates was giving out vaccines for HPV in Africa supposedly killing many girls. It was given out as a general health drug.(1) Maybe this is false, I don't know
PrEP (Pre Exposure Prophylaxis )vaccines are being tried out in Africa now for HIV (2). Truvada and other new drugs may be used there for study.
(1) https://www.skepticalraptor.com/skepticalraptorblog.php/vaccine-denialists-hate-bill-gates/
(2) https://www.prepvacc.org/
I'll hafta read over this a couple more times, M. Odin. Not saying I DISAGREE with much. Just 4am and I'm not "woke" yet. (Haha! ;)
I'm at the end of a long day. Let's see... 14 hours at computer. But I don't need a study of this kind to tell me the obvious. IOW, I agree completely. Didn't have good instincts on the exact numbers. Dunno when the study was done but I've seen this for a decade or two without really even looking into it.
PART of it, to me anyway, is that the Millenials and Gen-Zers expected the world to be handed to them on a platter, and got a bad attitude when it didn't. Sure, over-generalization but answers some questions anyway. But Boomers and GEn-Xers? AFAIK, had a lot to do with raising a large number of kids that didn't have much respect for authority of any kind other than themselves.
Can't remember when. Long ago. Person who ONLY writes on race complained that she was getting shuffled to side where she works, because she's fifty. Said she might hafta tgake up ageism but didn't. Yah, ALL generations think they know everything and their parents are idiots. But most grow OUTTA that in their 20s, right? Or maybe that isn't the way the world works now, but I'mn a dreamer. I think of how it should/could work.
My comment to the article was that I thought it a fairly strange society that the young know everything there IS to know. And these are the generations that "know" it's better to be "non-binary" when it comes to males and females. Hmph. Mebbe You can smell that I'm not impressed, but don't claim to be "on the right side of history." Wouldn't WANNA be, if that's what it takes.
Like I said. Too tired.., I get up around 2 or 3am so my days PAST done. TY for reply, M. Roscoe. :)