The Conservative Cave
Current Events => The DUmpster => Topic started by: CC27 on December 23, 2011, 06:17:48 PM
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Star Member nadinbrzezinski (100,084 posts) Profile Journal Send DU Mail Ignore
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Interesting point that was made the other day on To the Point
They were talking about the uber wealthy and how they have made their wealth.
It used to be that our uber wealthy were a pretty conservative (in investment terms) bunch. They did the slow but steady investing shtick at times in things like bonds. Not any more, starting with 1984 they started doing the IPOs and margin calls and the rest of it. Yup, they might make a bundle on ONE trade, and lose their shirts the next. This leads to a boom bust mentality.
Get's worst... they used to be a pretty conservative bunch in spending patters too... but these days many of them are living well beyond their means (not that anybody will call them up on it) while trying to stay up with the Gates.
I thought it was an interesting observation... as this is also the period where they have pressured our government to increasingly deregulate and create this casino like atmosphere.
Yes, values matter, even at that level of the wealth distribution ladder.
Oh and no, I do not feel particularly bad when Mr. Uber wealthy loses his shirt... but when he does... there go a whole slew of jobs for real... I am not sure if being a member of a household staff is something I'd like to do, but that is a job for somebody.
Does that mean they create ENOUGH of these service industry jobs to make a whole difference at the macro level? No, not really.
But when people talk about Wally World employees living beyond their means, that is code. A nasty set of code going back a long time. How about these guys living beyond their means? Most do... One concrete example, mister Donald Trump himself... care to ask how many times he's declared bankruptcy? Talk about living beyond means and trying to keep up with the Gates. According to the program, he is far from alone.
What the hell is she talking about?
http://www.democraticunderground.com/100265056
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I guess we can add 'stock broker' to her resume now.
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I guess we can add 'stock broker' to her resume now.
Or, 'stock breaker.'
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...and Kingfish tells Andy, "I is duh broker and you is duh brokee."
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Or, 'stock breaker.'
Don't forget ball breaker.
Don't believe me, just ask the store clerk who had to explain to her that they'd run out of milk for some strange reason.
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Don't forget ball breaker.
Don't believe me, just ask the store clerk who had to explain to her that they'd run out of milk for some strange reason.
Wouldn't you love to tell Nadin, "You want fresh milk? The cow is tied out back".
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I don`t think she knows what a margin call is.
It is not a desirable or profitable event.
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Wouldn't you love to tell Nadin, "You want fresh milk? The cow is tied out back".
Knowing the expert nadin, she'd be grabbing the bull by umm, okay, let's just say she probably knows less about where milk actually comes from than her pet rock does.
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She doesn't know the difference between buying on margin and a margin call. She didn't ready the google closely enough.
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She doesn't know the difference between buying on margin and a margin call. She didn't ready the google closely enough.
Exactly,it is a term she has heard so threw it out but has no grasp of what it means.
I have a margin account but only so I can if I choose play the options game,never have bought stock on margin.
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You would think that with all that knowledge Nada would be very wealthy.
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You would think that with all that knowledge Nada would be very wealthy.
She's one of those people whose wealth is in direct proportion to their knowledge.
She bought a whore a hotdog at Target, exhausting her month's entertainment budget.
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Wow, that was painful to read it was like watching that reporter have a stroke on camera in real time.
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I guess we can add 'stock broker' to her resume now.
Financial Adviser too.
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The fact that plenty of them think she's some kind of genius pretty much tells you all you need to know about DU...2 or 3.
Cindie
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But when people talk about Wally World employees living beyond their means, that is code. A nasty set of code going back a long time. How about these guys living beyond their means? Most do... One concrete example, mister Donald Trump himself... care to ask how many times he's declared bankruptcy? Talk about living beyond means and trying to keep up with the Gates. According to the program, he is far from alone.
Donald Trump has never filed for personal bankruptcy. Do you understand the difference Nads?
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Donald Trump has never filed for personal bankruptcy. Do you understand the difference Nads?
No, she doesn't understand.
It's too far above her meta level.