And Now the Richest .01 Percent

[untermensche]

You mean like Bernie Madoff?

One conman does not weaken my point in the least.

It is hand waving to get people to look away from my point.

 

[untermensche]

Within the plutocracy there are some you do quite well by keeping dimwits like Paris Hilton from losing all her money.

When there is so much wealth the system becomes self perpetuating. The best financial planners with the greatest access to information work exclusively for the most wealthy.

Maybe we should change CFP licensing requirement to certify X number of hours a year spent doing pro-bono work for the less wealthy and you are scored based on how well you do for your pro-bono clients compared to how well you do for your paying, wealthy clients.

The way to increase the amount of money in the hands of working people is to promote and start unions.

Better than this is to promote and start worker owned and controlled businesses.

People have to drop out of the corporate system and deprive it of it's wealth.

Replace the corporate top-down system with a worker owned democratic system and slowly the oligarchy withers away as well.

People only can amass great wealth by stealing from people who help create wealth.

When you steal from millions you can end up with billions. The corporate system is just a system that allows those at the top to steal from those not at the top, and do it legally.

 

[ksen]

Pretty sure it is.

Did you think wealth disparity wasn't that big a deal back in the 1920s? That it didn't exacerbate the whole Great Depression thing?

No it didn't exacerbate the thing.

Is that a fact or just your opinion?

You're just saying that because you're jealous!

Paris Hilton pulled herself up by her own bootstraps and earned every dollar she has through hard work and brilliance! You're just making excuses because you foolishly didn't decide to be rich like she did!

Within the plutocracy there are some you do quite well by keeping dimwits like Paris Hilton from losing all her money.

When there is so much wealth the system becomes self perpetuating. The best financial planners with the greatest access to information work exclusively for the most wealthy.

You mean like Bernie Madoff?

Probably more like Bill Gross.

But Bernie Madoff is a good example to show that the Lords of the Universe can make just as bad decisions as the rent-to-own sofa buying poors.

 

[coloradoatheist]

Maybe we should change CFP licensing requirement to certify X number of hours a year spent doing pro-bono work for the less wealthy and you are scored based on how well you do for your pro-bono clients compared to how well you do for your paying, wealthy clients.

The way to increase the amount of money in the hands of working people is to promote and start unions.

Better than this is to promote and start worker owned and controlled businesses.

People have to drop out of the corporate system and deprive it of it's wealth.

Replace the corporate top-down system with a worker owned democratic system and slowly the oligarchy withers away as well.

People only can amass great wealth by stealing from people who help create wealth.

When you steal from millions you can end up with billions. The corporate system is just a system that allows those at the top to steal from those not at the top, and do it legally.

And that happens all the top. New businesses get started all the time. There are tradeoffs, from the consumer and the employee.

- - - Updated - - -

You mean like Bernie Madoff?

One conman does not weaken my point in the least.

It is hand waving to get people to look away from my point.

I will agree. However the financial advice is there for everyone. They just can't make as many mistakes and they have to be persistent.

 

[untermensche]

I will agree. However the financial advice is there for everyone. They just can't make as many mistakes and they have to be persistent.

The access to information is not the same for you as it is for Paris Hilton's financial planner.

If it was, he wouldn't have the job, and you could offer your services instead.

 

[coloradoatheist]

I will agree. However the financial advice is there for everyone. They just can't make as many mistakes and they have to be persistent.

The access to information is not the same for you as it is for Paris Hilton's financial planner.

If it was, he wouldn't have the job, and you could offer your services instead.

You are right, however saving for most people isn't that complicated and the average user doesn't need to try and find the latest greatest hedge fund, and that's even a gamble for rich people.

 

[untermensche]

You are right, however saving for most people isn't that complicated and the average user doesn't need to try and find the latest greatest hedge fund, and that's even a gamble for rich people.

That's not the issue.

The issue is the self perpetuating nature of an oligarchy.

 

[TV and credit cards]

When there is so much wealth the system becomes self perpetuating.

We are fucked and overcoming this corrupt system will not be easy. And some of us know it.

Running on an inexhaustible supply of greed. It is our Skynet.

 

[Canard DuJour]

Within the plutocracy there are some you do quite well by keeping dimwits like Paris Hilton from losing all her money.

When there is so much wealth the system becomes self perpetuating. The best financial planners with the greatest access to information work exclusively for the most wealthy.

You mean like Bernie Madoff?

Kind of. His victims thought the $millions minimum entry fee to the exclusive Bernard L. Madoff Investment Securities club were buying them into some kind of insider trading deal, nudge-wink-ask-no-questions. He turned out to be a con man, but the con couldn't have worked so well without those conditions

 

[NobleSavage]

And more and more of this .01% inherited their wealth.

They didn't make it themselves.

A lovely blooming plutocracy.

The vast majority are nothing but powerless plebeians in this lovely system.

Whether they have the where-with-all to understand that or not.

When wealth is distributed like this, and the political system mainly responds to the cries of the wealthy, democracy becomes a joke.

Do you have a cite or are you stone cold making shit up?

Yet Forbes said that wealth in America has become far more meritocratic over time. It said that in 1984, "less than half of those on The Forbes 400 were self-made; today, 69 percent of the 400 created their own fortunes."

http://www.cnbc.com/id/102057206

 

[Nice Squirrel]

Because of the information revolution, you will expect to see more "self made" billionaires.

 

[ksen]

Do you have a cite or are you stone cold making shit up?

Yet Forbes said that wealth in America has become far more meritocratic over time. It said that in 1984, "less than half of those on The Forbes 400 were self-made; today, 69 percent of the 400 created their own fortunes."

http://www.cnbc.com/id/102057206

The share of wealth that is inherited has been increasing since the 1950s or so.

 

[NobleSavage]

Do you have a cite or are you stone cold making shit up?



http://www.cnbc.com/id/102057206

The share of wealth that is inherited has been increasing since the 1950s or so.

The thread title said .01%. Income inequality might be a problem, but misdiagnosing it doesn't help.