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(Bloomberg)   U.S household wealth reaches a record high of $80.7 trillion. Unfortunately $79.7 trillion is from the Zuckerberg, Gates and Buffett households   (bloomberg.com) divider line 52
    More: Interesting, U.S., personal finance, household debt  
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2650 clicks; posted to Main » on 08 Mar 2014 at 1:11 PM (36 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-03-08 01:15:25 PM  
It's weird that with how poor everyone is now that people aren't attacking the 1% and burning their houses to the ground.
 
2014-03-08 01:16:49 PM  
Oh goody... It's been at least a month since I've seen a gold ol' class-envy/class-warfare trolling!
 
2014-03-08 01:20:53 PM  
Ok.
Since there's so much wealth, should we expect taxes to go up?
 
2014-03-08 01:21:41 PM  
Thanks Obama!
 
2014-03-08 01:22:50 PM  

duffblue: It's weird that with how poor everyone is now that people aren't [...] burning their houses to the ground.


You wanna try that again?

irving47: Oh goody... It's been at least a month since I've seen a gold ol' class-envy/class-warfare trolling!


0/10. Game over.
 
2014-03-08 01:25:37 PM  
Feds must be using us as collateral since rumor has it there's no gold in the Knox.
 
2014-03-08 01:27:56 PM  

HairyNevus: duffblue: It's weird that with how poor everyone is now that people aren't [...] burning their houses to the ground.

You wanna try that again?


Never mind! Just occurred you meant burning the one-percent's houses to the ground. I should really not think to write until I'm awake enough to read.....
onstartups.com
/was still ambiguous?
 
2014-03-08 01:28:38 PM  
You forgot the Waltons...
 
2014-03-08 01:31:55 PM  
Let's turn to the Clintons and Kennedys to save the day.
 
2014-03-08 01:35:02 PM  

HairyNevus: HairyNevus: duffblue: It's weird that with how poor everyone is now that people aren't [...] burning their houses to the ground.

You wanna try that again?

Never mind! Just occurred you meant burning the one-percent's houses to the ground. I should really not think to write until I'm awake enough to read.....

/was still ambiguous?


How was it ambiguous when you omitted the part of the quote that made it make sense?
 
2014-03-08 01:36:45 PM  

HairyNevus: HairyNevus: duffblue: It's weird that with how poor everyone is now that people aren't [...] burning their houses to the ground.

You wanna try that again?

Never mind! Just occurred you meant burning the one-percent's houses to the ground. I should really not think to write until I'm awake enough to read.....
[onstartups.com image 300x287]
/was still ambiguous?


Technically ambiguous, but English is a naturally ambiguous language, and the default use of reflexive pronouns is the most recent applicable true noun backtracking through the sentence, usually ignoring parenthetical clauses like this one(or this one).
 
2014-03-08 01:42:14 PM  
Eat the rich.
 
2014-03-08 01:42:50 PM  
May I declare a mistrial on this thread? ~40% of the starting comments were about talking good.
 
2014-03-08 01:43:41 PM  
Occupy Astor St.
 
2014-03-08 01:44:39 PM  
"U.S household wealth reaches a record high of $80.7 trillion. Unfortunately $79.7 trillion is from the Zuckerberg, Gates and Buffett households"


But hey. We let them have it.
 
2014-03-08 01:47:31 PM  
But remember folks, we are a poor country, a small country. Other countries can do the big things- build the biggest buildings, build the fastest trains, build the biggest wind farms, supply their people with truly high speed internet. Hell we are so poor we need to hitchhike rides to the space station. But we got the biggest military, so USA USA USA!!!!
 
2014-03-08 01:50:24 PM  
In other words, if all the US government's debt were called in at once, the American people would still have enough net worth (per person) to retire on in most of the world.

The real problem with excessive government debt is its re-distribution effects (poor people pay taxes; rich people hold USG bonds)
 
2014-03-08 01:54:17 PM  
I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?
 
2014-03-08 01:56:21 PM  
Unemployment is down?  Labor participation rates are at near post WWII lows, but hey, we'll just ignore that. Housing values have gone up?   So I went from having zero equity in my house to having $5K equity in my house. Oh, goody!    Now I can borrow against that!

This is pure propaganda that the Rush-bots will eat up with a spoon. Almost ALL those gains have gone to the top 10% of households.  Muricans will forever be suckers.
 
2014-03-08 02:04:56 PM  
I can't believe we are having a class warfare thread without all of the poors bashing the Kochs.  Come on Fark, you're letting me down!!!
 
2014-03-08 02:08:41 PM  
Am I doing the math wrong, or is subby still massively overestimating the average household value for the 99%?

/$1,000,000,000 / 114,800,000 = $8,710,000 average household value
//doesn't quite match up with the 5.2 million millionaires in the US
///most of which, presumably, would have to be among the top 1%
 
2014-03-08 02:10:09 PM  

CowardlyLion: Am I doing the math wrong, or is subby still massively overestimating the average household value for the 99%?

/$1,000,000,000 / 114,800,000 = $8,710,000 average household value
//doesn't quite match up with the 5.2 million millionaires in the US
///most of which, presumably, would have to be among the top 1%


Or I falsely conflated three rich people with the entirety of the top 1%.

/I blame daylight savings or something.
 
2014-03-08 02:11:38 PM  

Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?


Because you should want even more stuff for yourself.
 
2014-03-08 02:13:09 PM  

Wally007: You forgot the Waltons...


And the Cock Brothers?
 
2014-03-08 02:20:22 PM  
We're 17 trillion in debt and growing that's where this wealth is coming from along with the FED printing billions per month.

Most of this 'wealth' in America has been earned the last decade, especially the last 6 years with the massive 'stimulus' bullsh-t which is just transferring wealth from the middle class up to many government and contract workers.

If you could see the $$$ some of my contract friends bring in or government salaries, it makes you sick and you just realize that if these salaries were made public, the general public/private sector would revolt.
 
2014-03-08 02:21:57 PM  
i.imgur.com
 
2014-03-08 02:22:55 PM  
The rest of you poor saps must not be hoping hard enough.
 
2014-03-08 02:23:47 PM  

JC22: Most of this 'wealth' in America has been earned the last decade, especially the last 6 years with the massive 'stimulus' bullsh-t which is just transferring wealth from the middle class up to many government and contract workers.


Wow, that's some world class BS right there.
 
2014-03-08 02:24:07 PM  

Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?


Because most of those earning more then you don't actually deserve what they make and in the process are driving up the cost of goods and services thanks to easy money policy and the government/fed/contractors getting salaries that are beyond out of whack with the private sector.

You could be living even more comfortably and getting more things for yourselves or even helping others more. If you own a home, you could probably have bought it for hundreds of thousands less is one thing, your rents would be lower and so on.

This 'transfer' of wealth through all this borrowing is going to collapse soon.
 
2014-03-08 02:28:28 PM  
 
2014-03-08 02:28:40 PM  

Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?


So what you're saying is, you got yours?
 
2014-03-08 02:36:30 PM  

NateAsbestos: Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?

So what you're saying is, you got yours?


See, there's the problem right there.
 
2014-03-08 02:39:44 PM  

NateAsbestos: Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?

So what you're saying is, you got yours?


Yep, damn right. I have fought and scrabbled to earn what I have, and i'm happy with what I have. No amount of stuff is going to be useful to me, and there's nothing out there that appeals to me that money could buy. So, why the hell do I want more stuff?

If I wanted anything, it would be the intangible things: peace, quiet, a loving family, and so on. Money can't buy that. I have no use for money other than to just make sure I have food, and I can enjoy the things I like to do, which I do right now.
 
2014-03-08 02:41:33 PM  
33 comments so far, with half of them addressing comments that no one has even made.
I see great things coming to this thread, many great things indeed.
 
2014-03-08 02:43:11 PM  
I just don't understand how poor people vote for the Republicans, and by poor I mean the 99%.

/Soviet Canuckistan resident.
 
2014-03-08 02:45:56 PM  

Wingnutwillie: I just don't understand how poor people vote for the Republicans, and by poor I mean the 99%.

/Soviet Canuckistan resident.


img.myconfinedspace.com
 
2014-03-08 02:55:24 PM  

derpy: stonent: [i.imgur.com image 400x600]



Legible link:
http://cdn.other98.com/wp-content/uploads/2011/02/S-vs-K.jpg


3/10. I think you will net a few fish but most will ignore.
 
2014-03-08 03:00:42 PM  

Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?


Because if you can't afford the latest designer clothes you're poor and you should lament your position in life.  Remember to keep up on those Escalade payments!
 
2014-03-08 03:24:31 PM  
These folks work 5000 times harder than you do and are smarter, better looking, and chosen by god.  You're poor because your lazy dumb and ugly.  Accept your lot in life, they know what is best for you.
 
2014-03-08 03:28:22 PM  

Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?


Because material possessions define your worth as a human being. Or haven't you been paying attention?
 
2014-03-08 04:28:27 PM  
It's funny* because it's true!

*by funny I mean not funny
 
2014-03-08 04:35:21 PM  
Obama and the Dems want to keep you all down. Then you suckle on the government tit and become so dependent on it, you have to vote Democrat, to keep your pathetic benefits flowing.
 
2014-03-08 04:37:32 PM  

CowardlyLion: Am I doing the math wrong, or is subby still massively overestimating the average household value for the 99%?

/$1,000,000,000 / 114,800,000 = $8,710,000 average household value
//doesn't quite match up with the 5.2 million millionaires in the US
///most of which, presumably, would have to be among the top 1%


If 5.2 million people are in the top 1%, the US must have 520 million people.
 
2014-03-08 04:47:42 PM  

CowardlyLion: Am I doing the math wrong, or is subby still massively overestimating the average household value for the 99%?

/$1,000,000,000 / 114,800,000 = $8,710,000 average household value


Uhm, $1,000,000,000 / 114,800,800 = $8.71.  That's eight dollars and seventy-one cents.  Gets you dinner at McDonalds, and maybe an apple pie for dessert.

//doesn't quite match up with the 5.2 million millionaires in the US
///most of which, presumably, would have to be among the top 1%


I guess it really goes by what definition of millionaire you go by.  Someone with more than $1M in their retirement account that needs to live off of that for the next 25 years is rather different than someone making $1M/year.  I don't recall an "Occupy Retirement Homes" movement.
 
2014-03-08 04:55:48 PM  

Pick: Obama and the Dems want to keep you all down. Then you suckle on the government tit and become so dependent on it, you have to vote Democrat, to keep your pathetic benefits flowing.


You're gonna have to do a lot better than that if you want to join the Fark Major Leagues, son. Go back to Yahoo comments for a few years until you get the skills
 
2014-03-08 05:09:12 PM  

Dinki: But remember folks, we are a poor country, a small country. Other countries can do the big things- build the biggest buildings, build the fastest trains, build the biggest wind farms, supply their people with truly high speed internet. Hell we are so poor we need to hitchhike rides to the space station. But we got the biggest military, so USA USA USA!!!!


www.la-french-rumeur.com
 
2014-03-08 05:40:39 PM  

Resident Muslim: Ok.
Since there's so much wealth, should we expect taxes to go up?


No, we don't account for assets on our balance sheet when scaring people shiatless about debt and deficits.

The US isn't like corporate or financial accounting, it's like a savings account or credit card carried by a poor person.  There is only debt!  boogyboogyboo!
 
2014-03-08 07:43:17 PM  

Kit Fister: NateAsbestos: Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?

So what you're saying is, you got yours?

Yep, damn right. I have fought and scrabbled to earn what I have, and i'm happy with what I have. No amount of stuff is going to be useful to me, and there's nothing out there that appeals to me that money could buy. So, why the hell do I want more stuff?

If I wanted anything, it would be the intangible things: peace, quiet, a loving family, and so on. Money can't buy that. I have no use for money other than to just make sure I have food, and I can enjoy the things I like to do, which I do right now.

Studies have shown that the break-even point for happiness from income is, as luck would have it, $60k a year. Above that and people don't really get much happier. Sure, crazy money seems nice but at some point it just doesn't make your life any better. That's why rich people still commit suicide, for instance.

On the other hand, having less than $60k makes your life worse and worse.

And the idea of wealth envy is a straw man argument. I don't care if rich people are rich. But I do care when that money comes at the expense of everyone else. People are cutting essential services to the poor because "we don't have the money to pay for it". Well the reason we don't have the money is that we are giving it to rich people in the form of unnecessary tax breaks. Take from the poor and give to the rich. The reverse Robin Hood strategy.
 
2014-03-09 08:59:43 AM  

Zombalupagus: Kit Fister: NateAsbestos: Kit Fister: I make $60k/year. I'm not wealthy. On the other hand, I can afford all the things that I need in life, I'm not wanting for anything, and enjoy my job. Tell me again why I give a shiat if someone else has more money than I do?

So what you're saying is, you got yours?

Yep, damn right. I have fought and scrabbled to earn what I have, and i'm happy with what I have. No amount of stuff is going to be useful to me, and there's nothing out there that appeals to me that money could buy. So, why the hell do I want more stuff?

If I wanted anything, it would be the intangible things: peace, quiet, a loving family, and so on. Money can't buy that. I have no use for money other than to just make sure I have food, and I can enjoy the things I like to do, which I do right now.
Studies have shown that the break-even point for happiness from income is, as luck would have it, $60k a year. Above that and people don't really get much happier. Sure, crazy money seems nice but at some point it just doesn't make your life any better. That's why rich people still commit suicide, for instance.

On the other hand, having less than $60k makes your life worse and worse.

And the idea of wealth envy is a straw man argument. I don't care if rich people are rich. But I do care when that money comes at the expense of everyone else. People are cutting essential services to the poor because "we don't have the money to pay for it". Well the reason we don't have the money is that we are giving it to rich people in the form of unnecessary tax breaks. Take from the poor and give to the rich. The reverse Robin Hood strategy.


Stop making sense, will you.  Now repeat after me: USA! USA! USA! FARK YEAH!

From what I've seen, giving money to millionaire jerb creators creates little or no jerbs, it makes rich people even more paranoid and disconnected from reality.
 
2014-03-09 12:29:33 PM  
Maybe you guys should send these guys thank you notes for paying for your welfare instead of biatching about them.
 
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