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Online CC27

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nadinbrzezinski makes a point...
« 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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Offline Chris_

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Re: nadinbrzezinski makes a point...
« Reply #1 on: December 23, 2011, 06:22:03 PM »
I guess we can add 'stock broker' to her resume now.
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Offline BlueStateSaint

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Re: nadinbrzezinski makes a point...
« Reply #2 on: December 23, 2011, 06:23:47 PM »
Quote from: chris_ on December 23, 2011, 06:22:03 PM
I guess we can add 'stock broker' to her resume now.

Or, 'stock breaker.'
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Offline JohnnyReb

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Re: nadinbrzezinski makes a point...
« Reply #3 on: December 23, 2011, 06:43:53 PM »
...and Kingfish tells Andy, "I is duh broker and you is duh brokee."
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Offline Boudicca

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Re: nadinbrzezinski makes a point...
« Reply #4 on: December 23, 2011, 06:50:21 PM »
Quote from: BlueStateSaint on December 23, 2011, 06:23:47 PM
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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Offline JohnnyReb

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Re: nadinbrzezinski makes a point...
« Reply #5 on: December 23, 2011, 07:05:07 PM »
Quote from: Boudicca on December 23, 2011, 06:50:21 PM
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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"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Online Carl

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Re: nadinbrzezinski makes a point...
« Reply #6 on: December 23, 2011, 07:10:57 PM »
I don`t think she knows what a margin call is.
It is not a desirable or profitable event.
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Offline Boudicca

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Re: nadinbrzezinski makes a point...
« Reply #7 on: December 23, 2011, 07:23:44 PM »
Quote from: JohnnyReb on December 23, 2011, 07:05:07 PM
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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Offline GOBUCKS

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Re: nadinbrzezinski makes a point...
« Reply #8 on: December 23, 2011, 07:24:13 PM »
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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Online Carl

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Re: nadinbrzezinski makes a point...
« Reply #9 on: December 23, 2011, 07:31:20 PM »
Quote from: GOBUCKS on December 23, 2011, 07:24:13 PM
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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Offline jukin

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Re: nadinbrzezinski makes a point...
« Reply #10 on: December 23, 2011, 07:52:30 PM »
You would think that with all that knowledge Nada would be very wealthy.
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Offline GOBUCKS

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Re: nadinbrzezinski makes a point...
« Reply #11 on: December 23, 2011, 08:29:25 PM »
Quote from: jukin on December 23, 2011, 07:52:30 PM
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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Online 67 Rover

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Re: nadinbrzezinski makes a point...
« Reply #12 on: December 23, 2011, 08:37:39 PM »
Wow, that was painful to read it was like watching that reporter have a stroke on camera in real time.
« Last Edit: December 23, 2011, 08:55:35 PM by 67 Rover »
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Offline Evil_Conservative

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Re: nadinbrzezinski makes a point...
« Reply #13 on: December 23, 2011, 08:45:56 PM »
Quote from: chris_ on December 23, 2011, 06:22:03 PM
I guess we can add 'stock broker' to her resume now.

Financial Adviser too.
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Offline delilahmused

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Re: nadinbrzezinski makes a point...
« Reply #14 on: December 23, 2011, 09:26:09 PM »
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.

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Offline formerlurker

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Re: nadinbrzezinski makes a point...
« Reply #15 on: December 24, 2011, 05:20:37 AM »
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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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Offline franksolich

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Re: nadinbrzezinski makes a point...
« Reply #16 on: December 24, 2011, 04:05:32 PM »
Quote from: formerlurker on December 24, 2011, 05:20:37 AM
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.
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