[Vision2020] [Bulk] Re: The Nation, 6/30/08
lfalen
lfalen at turbonet.com
Wed Jul 30 10:28:25 PDT 2008
Paul
I don't think anybody thinks that they all could. What is being referred to is in most cases. You have more of a point in the third generation wealthy.
Roger
-----Original message-----
From: Paul Rumelhart godshatter at yahoo.com
Date: Tue, 29 Jul 2008 20:38:57 -0700
To: Scott Dredge sdredge at yahoo.com
Subject: Re: [Vision2020] [Bulk] Re: The Nation, 6/30/08
> It's not always that easy. Some people actually learn, albeit the hard
> way. So giving someone money and having them blow it sometimes teaches
> them a little bit about how to budget effectively. If you've never had
> any, it's easy to lose track of it. If you're not very good at math,
> it's easy to find out how little money that huge sum you thought you had
> actually was.
>
> Granted, there are those who never seem to learn. That's true
> everywhere. I just don't think it's a natural law that wealthy people
> deserve their wealth and poor people deserve their debt. How many
> wealthy people could climb their way back to the top if you took away
> the money? How many of them inherited their wealth and have no idea how
> to gain it back? The fact that some do doesn't mean they all could.
>
> I need to rent Trading Places again.
>
> Paul
>
> Scott Dredge wrote:
> > For the most part, hasn't this been proven over and over again such as
> > millionaires losing just about everything in the Great Depression only
> > to move on and become millionaires again or poor people who win the
> > lottery and then 20 years later are back to being poor again?
> >
> > Personally, I don't need to look much further than my own family and
> > extended family to site numerous examples of trying to help someone
> > out by lending them money or 'selling' them a car at about 10% of its
> > blue book value and finding out ultimately that in the long run you
> > haven't really done anything to help them out at all.
> >
> > -Scott
> >
> > ----- Original Message ----
> > From: "Kai Eiselein, Editor" <editor at lataheagle.com>
> > To: Andreas Schou <ophite at gmail.com>
> > Cc: vision2020 at moscow.com
> > Sent: Tuesday, July 29, 2008 1:40:45 PM
> > Subject: Re: [Vision2020] The Nation, 6/30/08
> >
> > There is no moralizing in my st<tr><td valign="top"></td></tr>atement.
> > I believe that, for whatever reason, some people are better at gaining
> > wealth than others. Those people will always find a way to become wealthy.
> > There are also those who would spend their last nickel on a whim. They
> > will
> > always wind up broke.
> > Most of us wind up between those two.
> >
> >
> >
> > --------------------------------------------------
> > From: "Andreas Schou" <ophite at gmail.com <mailto:ophite at gmail.com>>
> > Sent: Tuesday, July 29, 2008 12:44 PM
> > To: "Kai Eiselein, Editor" <editor at lataheagle.com
> > <mailto:editor at lataheagle.com>>
> > Cc: "Saundra Lund" <sslund_2007 at verizon.net
> > <mailto:sslund_2007 at verizon.net>>; "lfalen"
> > <lfalen at turbonet.com <mailto:lfalen at turbonet.com>>; "keely emerinemix"
> > <kjajmix1 at msn.com <mailto:kjajmix1 at msn.com>>;
> > <vision2020 at moscow.com <mailto:vision2020 at moscow.com>>
> > Subject: Re: [Vision2020] The Nation, 6/30/08
> >
> > > On Tue, Jul 29, 2008 at 12:26 PM, Kai Eiselein, Editor
> > > <editor at lataheagle.com <mailto:editor at lataheagle.com>> wrote:
> > >> Human nature is human nature.
> > >> Chances are, most of the "have nots" would blow their windfall
> > purchasing
> > >> things they could have never afforded before.
> > >> Without thinking of the future, many people would blow right
> > through it.
> > >> Once gone, they would wind up selling many of the things they purchased
> > >> because they didn't save any of it for neccesities.
> > >> Many of the "haves" would see opportunities and try to make the most of
> > >> their windfall, gaining wealth.
> > >
> > > A great deal of this is a reflection of the way in which the economy
> > > rewards labor and capital. The high transportation and communication
> > > costs of the postwar economy (combined with the decimated industrial
> > > capacity in Europe) rewarded local production and local consumption.
> > > This allowed the unprecedented development of a blue-collar middle
> > > class. The economy, in other words, was structured to reward labor
> > > over capital.
> > >
> > > The modern has low transportation and communication costs and spare
> > > industrial capacity even in third-world nations. Manufacturing
> > > capacity, except for high-value items, has essentially been rendered
> > > fungible. Consequently, the bottom has dropped entirely out of the
> > > blue-collar middle class: even skilled workers have been forced to get
> > > jobs in the service economy.
> > >
> > > At the same time, conservative reforms have lowered capital-gains
> > > taxes and stripped away the estate tax -- both important mechanisms to
> > > reduce the concentration of wealth and reduce the self-rewarding
> > > nature of capital. Efficiency gains caused by the changes in the
> > > modern economy have sent corporate profits through the roof. CEO
> > > compensation, which is largely denominated in corporate stock, has
> > > consequently risen.
> > >
> > > The US is in a perverse economy where work doesn't make you money;
> > > money makes you money. This has nothing to do with your ass-backward
> > > moralizing about budgeting and more to do with corporate kleptocracy.
> > >
> > > -- ACS
> > >
> > Kai Eiselein
> > Editor, Latah Eagle
> >
> > =======================================================
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