Economic reality

[Kevin B.]

Mind? Blown.

http://www.utrend.tv/v/9-out-of-10-americans-are-completely-wrong-about-this-mind-blowing-fact/

I knew it was bad. I didn't know it was that bad.

 

[jackjoh]

Looks like the truth but would like to know where he got his data.

 

[jeeper]

This makes me sooooooo angry. And for a different reason than you would think. I am by far in the 'poor' crowd. However I have hopes of moving up in life. The rich are rich because they understand money, and are smart about it. Poor are poor because they don't understand money and are dumb in their choices. Why should we complain and cry that the rich are doing well???
you see all these people on welfare needing help and groceries and health care and child care,etc. but every one of them has a flat screen tv, cable tv, Internet, and smart phones! When I lived in Mississippi people would be living in houses that were falling apart around them.. But they would have 22" spinners on their Cadillac. This is typical of poor people. If you waste your money you will have none! If you save and invest your money you will have some. People think they should have what every one else does, but without the effort!! My family lives on next to nothing! We don't have TV. We drive old cars without payments. We wear Walmart cloths. So to see MY earned money get taken to 'help' others that have nice cars, name brand cloths, and TV's I get really mad.
What a freaking joke!

 

[TurboMinivan]

would like to know where he got his data.

Well, he did list some (apparent) sources at the very end of the video.


My takeaway from this? Buy some stocks.

 

[jackjoh]

This makes me sooooooo angry. And for a different reason than you would think. I am by far in the 'poor' crowd. However I have hopes of moving up in life. The rich are rich because they understand money, and are smart about it. Poor are poor because they don't understand money and are dumb in their choices. Why should we complain and cry that the rich are doing well???
you see all these people on welfare needing help and groceries and health care and child care,etc. but every one of them has a flat screen tv, cable tv, Internet, and smart phones! When I lived in Mississippi people would be living in houses that were falling apart around them.. But they would have 22" spinners on their Cadillac. This is typical of poor people. If you waste your money you will have none! If you save and invest your money you will have some. People think they should have what every one else does, but without the effort!! My family lives on next to nothing! We don't have TV. We drive old cars without payments. We wear Walmart cloths. So to see MY earned money get taken to 'help' others that have nice cars, name brand cloths, and TV's I get really mad.
What a freaking joke!

I went through years living pay check to pay check and figured out that if I stayed home and did not smoke and drink I had more money to make my life better. Now Joan and I have a good retirement living off rentals and money saved. My greatest advice, buy a home and pay it off. I remember getting un-employment made me feel ashamed so I did everything I could to find a job and stay employed. Yes, I also get SSI and medicare.

 

[UNSTUCK]

This makes me sooooooo angry. And for a different reason than you would think. I am by far in the 'poor' crowd. However I have hopes of moving up in life. The rich are rich because they understand money, and are smart about it. Poor are poor because they don't understand money and are dumb in their choices. Why should we complain and cry that the rich are doing well???
you see all these people on welfare needing help and groceries and health care and child care,etc. but every one of them has a flat screen tv, cable tv, Internet, and smart phones! When I lived in Mississippi people would be living in houses that were falling apart around them.. But they would have 22" spinners on their Cadillac. This is typical of poor people. If you waste your money you will have none! If you save and invest your money you will have some. People think they should have what every one else does, but without the effort!! My family lives on next to nothing! We don't have TV. We drive old cars without payments. We wear Walmart cloths. So to see MY earned money get taken to 'help' others that have nice cars, name brand cloths, and TV's I get really mad.
What a freaking joke!

Dave Ramsey would be very proud of you. I also have no debt, except for a house we are about to buy. Dave would not be happy with our house choice, but we are doing the best we can.

 

[DAA]

I'm all for capitalism and begrudge no man his success. But... The Golden Rule is in full force in this country. That is, he who has the gold, makes the rules. The deck is stacked in their favor. Yes, you can work hard and smart and get there. But the way big money, and I mean REALLY big money plays today, they do have all the advantages to make it easier on them, and harder on the poor boy.

For a simple one sentence illustration/example - look at the way the big finance guys got mega rich taking risks with our money, and when they got their tail in a crack, got bailed out with our money, only to go back to the same-old, same-old. You or I take big risks and lose it all, were just chit outta luck. Big Money screws up, they get a mulligan. The Golden Rule.

And the way Citizens United has the big money hard wired straight into DC now, it's only going to keep getting more that way, faster and faster.

Equal opportunity is a myth.

But, oh well, the smartest, hardest working, see how it works and will make it work for them. Me, I'm lazy... And dumb... But I'm happy!

- DAA

 

[jeeper]

No doubt DAA that the political scene is totally screwed over and is not good for us little guys.
If we are talking politics I will vary my opinion some.. But in a general rich vs poor conversation I stand by my OP.

 

[Spork]

I didn't hear a solution. Are they advocating robbing from the rich? Is being a 1% person wrong? is being a 99% person wrong? Money has a way of distributing, I don't believe it's all sitting in a vault and they go swimming like Scrooge McDuck. Some may invest and grow their money, others may have a Paris Hilton child and see it drain away... They may just have enough money that it might take them 10 lifetimes for the children to spend it all.

 

[Kevin B.]

I don't begrudge anybody the money they can earn, as long as it's done morally and legally. My gripe is looking at all that money sitting up there at top, and looking at my broke ass sitting firmly in the bottom 1/4 of that graph, and yet when it's redistribution time it's my paycheck the commies are coming after. Ridiculous.

Makes me want to go live on a deserted island and just not have money. Tax this, bitches.

 

[TwistedRubi]

He listed sources, all of them are tied to the Democratic party. Keep in mind the other half of the story, that one percent also pays ninety percent of all taxes. It is possible for almost anyone to become part of that group if they are willing to give up everything else to work for it. That includes time spent building your rig, wheeling on the weekend, going to your kids game, and anything else that might come up. So how bad do you want it?

 

[glockman]

He listed sources, all of them are tied to the Democratic party. Keep in mind the other half of the story, that one percent also pays ninety percent of all taxes. It is possible for almost anyone to become part of that group if they are willing to give up everything else to work for it. That includes time spent building your rig, wheeling on the weekend, going to your kids game, and anything else that might come up. So how bad do you want it?

You hit it right on. The top guys at my company are the most intelligent people I have ever met. They work 70-80 hours a week, actually they never stop working. They are at the beck and call of the plant. For this they make $200-350k a year. They give up a lot in their 20's and 30's and into their 40's but they are rich in their 50's.
I am not and was not willing to make the same sacrifices so I get what I have, which is better than I deserve as the money zen master would say.
Working hard does not and should not assure you wealth. Working hard and smart usually does, along with a little luck and timing.


Sent from my iPhone using Tapatalk

 

[JL Rockies]

Debt, debt and debt... it's not good for the soul. I've borrowed as little $ as possible in my life. Paid off my house in 5 years and that was a long time ago. At one point, I was reinvesting 80% salary and never a dime in the stock market... it hasn't been connected to reality in a very long time.

I used to work for a Cadillac dealership in SLC and was amazed by how I was actually "wealthier" than people borrowing a new $90k Platinum Escalade. They didn't own their cars, they didn't own their house in Park City or their boat, or their vacation property. What they did have was a willingness to give larger percentages of their larger incomes to banks which were happy to give them more and more pathways to do so.

My goals in life are simple:

Never let making a living get in the way of living
Give to Caesar what is Caesar's but the IRS can eff off
Avoid the shackles of debt

A wise economist once said, "the problem this country faces is people own their cars and rent their homes."


Kooler than Mudd.

 

[Tacoma]

Approved as hell. Carry on.

Debt, debt and debt... it's not good for the soul. I've borrowed as little $ as possible in my life. Paid off my house in 5 years and that was a long time ago. At one point, I was reinvesting 80% salary and never a dime in the stock market... it hasn't been connected to reality in a very long time.

I used to work for a Cadillac dealership in SLC and was amazed by how I was actually "wealthier" than people borrowing a new $90k Platinum Escalade. They didn't own their cars, they didn't own their house in Park City or their boat, or their vacation property. What they did have was a willingness to give larger percentages of their larger incomes to banks which were happy to give them more and more pathways to do so.

My goals in life are simple:

Never let making a living get in the way of living
Give to Caesar what is Caesar's but the IRS can eff off
Avoid the shackles of debt

A wise economist once said, "the problem this country faces is people own their cars and rent their homes."


Kooler than Mudd.