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Forum » The 1% Close to Having As Much Wealth as the Entire Middle Class
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Thread: The 1% Close to Having As Much Wealth as the Entire Middle Class

post 1591331131 11-10-2019, 12:37 PM
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The 1% Close to Having As Much Wealth as the Entire Middle Class

Dat dere Capitalism

https://www.bloomberg.com/news/artic...s-middle-class
Bloomberg - Are you a robot?

The top 1% of American households have enjoyed huge returns in the stock market in the past decade, to the point that they now control more than half of the equity in U.S. public and private companies, according to data from the Federal Reserve. Those fat portfolios have America’s elite gobbling up an ever-bigger piece of the pie.

The very richest had assets of about $35.4 trillion in the second quarter, or just shy of the $36.9 trillion held by the tens of millions of people who make up the 50th percentile to the 90th percentile of Americans -- much of the middle and upper-middle classes.

Chalk up at least part of their good fortune to interest rates, said Stephen Colavito, chief market strategist at Lakeview Capital Partners, an Atlanta-based investment firm for high-net-worth investors. People can’t get much of a return on certificates of deposits and other passive investments, so they’ve pumped money into stocks and propped up the market overall, he said.

In turn, those investments make the wealthy eligible to put money into exclusive hedge funds and private equity funds. Many such funds require $5 million of investments to qualify.

“The wealthier that the wealthy get, the more opportunity they have,” Colavito said.

It may not be long before one-percenters actually surpass the middle and upper-middle classes. Household wealth in the upper-most bracket grew by $650 billion in the second quarter of 2019, while Americans in the 50th to 90th percentiles saw a $210 billion gain.
post 1591331211 11-10-2019, 12:38 PM
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post 1591331331 11-10-2019, 12:40 PM
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[QUOTE=MikeLowrrrey post_id=1591331131]Dat dere Capitalism

[url][/QUOTE]An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1591331391 11-10-2019, 12:41 PM
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It's not just capitalism. It happens in almost all economies.

Ancient rome was based on agriculture and slavery, and eventually all of the wealth and land was concentrated into fewer and fewer hands.


It's an inevitable effect of wealth accumulation. As time passes, the rich get richer.


What you need is a "reset" button every few hundred years to start the game over again. Such as the American revolution which founded a new country/economy, etc...


or, move to a country that is currently in the early-mid stage of the economic cycle (such as current China, if you can deal with the communism)
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post 1591331491 11-10-2019, 12:42 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
This.
post 1591331571 11-10-2019, 12:44 PM
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capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
post 1591331601 11-10-2019, 12:44 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
Rent in Thailand is $200/month + utilities

Rent in U.S. is $1000/month

Strong retardation
post 1591331791 11-10-2019, 12:47 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
that doesn't mean **** if $32,000/yr in your own country is terrible
There is only one Hell: the one we live in now.
post 1591331841 11-10-2019, 12:47 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
But who was cost of living?
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post 1591331911 11-10-2019, 12:49 PM
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This is why i opt out as much as i can. I go to work and just do my own thing unless someone really wants to say something to me. But i'm not going to conform to everything the higher ups want. I still have to work for them but at least i can say i do what i want as long as i show up to work. If you want a decent salary and no headaches you have to conform and deal with people above you for years to even have a chance. No thnx jeffrey i'll just stick with my 30k per year and do my own thing.
post 1591331971 11-10-2019, 12:49 PM
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In b4 anachron telling us the middle class deserves less and that we are lucky to be able to rent a card board box.
post 1591332061 11-10-2019, 12:51 PM
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Originally Posted By beansieweansie⏩
capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
the ****ed up thing is that most rich people have like a house with like 6-10 rooms and there's only 1-4 people living in it
There is only one Hell: the one we live in now.
post 1591332151 11-10-2019, 12:53 PM
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Originally Posted By MikeLowrrrey⏩
Rent in Thailand is $200/month + utilities

Rent in U.S. is $1000/month

Strong retardation
This. Lmao at degenerate boomers who try to justify the state of the economy with "much millenials."
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post 1591332171 11-10-2019, 12:53 PM
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Ok boomer
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1591332331 11-10-2019, 12:55 PM
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Originally Posted By beansieweansie⏩
capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
This would make sense if money was finite. In the fractional reserve banking system money is never ending. If someone has a million in the bank, the bank has access to 100x that meaning investment, jobs, food on the table.
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post 1591332511 11-10-2019, 12:59 PM
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Originally Posted By 2RDEYE⏩
the ****ed up thing is that most rich people have like a house with like 6-10 rooms and there's only 1-4 people living in it
Is it ****ed up though?

Have you ever gone to nice restaurant in your life? Why? You can sit home and survive in your 2 bedroom house on rice and beans.
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1591332641 11-10-2019, 01:01 PM
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Originally Posted By jackamo2887⏩
Is it ****ed up though?

Have you ever gone to nice restaurant in your life? Why? You can sit home and survive in your 2 bedroom house on rice and beans.
Sometimes you just want White Castle to do the cooking.
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post 1591332761 11-10-2019, 01:03 PM
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Originally Posted By beansieweansie⏩
capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
then after everyone makes 5 million dollars they stop working. your plan is to turn the brightest and smartest people into indentured slaves ? why would they do that voluntarily?
and money isn't "sitting in an account doing nothing", it gets lent out to people who can make more money. If you had a great business plan, in today's environment you can basically borrow all the money you need.
post 1591332851 11-10-2019, 01:05 PM
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Originally Posted By KurtMussell⏩
Sometimes you just want White Castle to do the cooking.
There's people starving in Africa while people here eat white castle and bitch about how selfish the rich are lol. All of us suck equally
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1591333091 11-10-2019, 01:08 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
Such creativity with the millennial comment. You didn't factor cost of living into your dumb comment either.
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post 1591333171 11-10-2019, 01:09 PM
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Originally Posted By Kawhilights⏩
Such creativity with the millennial comment. You didn't factor cost of living into your dumb comment either.
Cry more soy boy.
Survival. When the jungle tears itself down and builds itself into something new. Guys like you and me, we end up dead. Doesn’t really mean anything. Or, if we happen to live through it, well that doesn’t mean anything either.
post 1591333381 11-10-2019, 01:13 PM
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Originally Posted By jackamo2887⏩
There's people starving in Africa while people here eat white castle and bitch about how selfish the rich are lol. All of us suck equally
lol at eating White Castle. That's poverty food.
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post 1591334461 11-10-2019, 01:27 PM
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People live debt free and frugal, investing a large portion of their income and then reinvesting the returns grow wealthy.

BRB its not fair that people that finance everything they can. Blow every penny they earn. And never invest a dime have less money. People who bring value to the world grow wealthy. Said people maintain and grow their wealth through investing.






At 32 I've built more wealth then my father, who's nearly 60. And he's earned 2-3 times as much as I have per year for the better part of 25 years. I built more wealth and have acquired more assets after working just 10 years, then he has after working the last 40 years.


What's the difference? Well my first paragraph. I live frugal and invest as much as possible. He spends ever dime he makes as soon as he makes it. Does he deserve a piece of my investment returns?
post 1591334811 11-10-2019, 01:31 PM
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Originally Posted By guest89⏩
At 32 I've built more wealth then my father, who's nearly 60. And he's earned 2-3 times as much as I have per year for the better part of 25 years. I built more wealth and have acquired more assets after working just 10 years, then he has after working the last 40 years.


What's the difference? Well my first paragraph. I live frugal and invest as much as possible. He spends ever dime he makes as soon as he makes it. Does he deserve a piece of my investment returns?
He brought you into this world. He can take you out.
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post 1591335321 11-10-2019, 01:37 PM
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Originally Posted By KurtMussell⏩
He brought you into this world. He can take you out.
It was an example bro. My girlfriend used to earn in excess of one million per year (entrepreneur). During that same time period I was making around 50K per year. Still built a higher net worth then she has. Despite her earning an astronomical amount during the same time period.





I'm convinced the 'middle class' are broke because of their lifestyle and choices they make. Based on first hand knowledge, even if you earn a 7 figure income you can EASILY blow through that much money and be broke.
post 1591335491 11-10-2019, 01:39 PM
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Originally Posted By beansieweansie⏩
capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
I get what you are trying top say, but what makes you think that:
1. $5 M is the cut off for how much a person should make? Obama said the same thing for YEARS and he got a $68 million dollar book deal (with michelle) and not to mention he bought a house on Martha's Vineyard AFTER telling people they make too much money and dont care about climate change

2. Decide that its up to everyone one, whether they like it or not (because they have the money) to help people who do not have the means to help themselves? That right there is part of the rerason why Karl Marx wrote that god damned book of his and 250+ million people were killed because of it. Because people with that same mindset took power and convinced others to think the same way. To think that people who were better off than others got thereONLY because of nefarious means. And the damnedest thing is, that despite Marxists near 100% failure rate in its national implementations over the years, people are stupid enough to try it again
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post 1591335531 11-10-2019, 01:39 PM
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Originally Posted By beansieweansie⏩
capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
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post 1591335551 11-10-2019, 01:39 PM
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Originally Posted By CalmWind⏩
It's not just capitalism. It happens in almost all economies.

Ancient rome was based on agriculture and slavery, and eventually all of the wealth and land was concentrated into fewer and fewer hands.


It's an inevitable effect of wealth accumulation. As time passes, the rich get richer.


What you need is a "reset" button every few hundred years to start the game over again. Such as the American revolution which founded a new country/economy, etc...


or, move to a country that is currently in the early-mid stage of the economic cycle (such as current China, if you can deal with the communism)
You're basically speaking Marxism here
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post 1591335601 11-10-2019, 01:40 PM
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Originally Posted By Brainfr33ze⏩
not all of us want to live like some stoopid loser hermit never having any fun.
And there is nothing wrong with that. But when you are in debt and broke and the loser hermit has a billion dollars in the market. You don't deserve a piece of it.


Neither does anyone else that literally brings 0 value to the world.
post 1591335801 11-10-2019, 01:42 PM
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Originally Posted By guest89⏩
And there is nothing wrong with that. But when you are in debt and broke and the loser hermit has a billion dollars in the market. You don't deserve a piece of it.


Neither does anyone else that literally brings 0 value to the world.
Market crashes, doesn't recover and then what?
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