very interesting article and study on finance, the rich and the not rich - Mountain Buzz
 

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Old 10-16-2012   #1
gh
 
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very interesting article and study on finance, the rich and the not rich

The billionaires next door | The Great Debate


Kris Gopalakrishnan, the co-chair of Infosys, told me bluntly that the per capita consumption of the Western middle class would have to decline as the developed and developing worlds ďmeet somewhere in the middle.Ē When I asked one of Wall Streetís most successful investment bank CEOs if he felt guilty for his firmís role in creating the financial crisis, he told me with evident sincerity that he did not. The real culprit, he explained, was his feckless cousin, who owned three cars and a home he could not afford.

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Old 10-16-2012   #2
 
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That was a good read.
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Old 10-16-2012   #3
 
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Combine this: “Is society’s nobility in fact its most noble actors?” the researchers ask. Their answer is a resounding no: “Relative to lower-class individuals, individuals from upper-class backgrounds behaved more unethically. ”

with the Ayn Rand hyper-selfish who consider themselves temporarily-broke millionaires and you get a whole slew of people who act unethically and justify it with "individualism."
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Old 10-16-2012   #4
 
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No shock the ceo's don't want to accept any responsibilty for the crisis.
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Old 10-16-2012   #5
 
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That Berkeley study was interesting. The more people had made them feel more entitled. Simply imaging you are rich made them become greedy. Sounds pretty accurate.
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Old 10-17-2012   #6
 
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What happens when the elite feel entitled AND you combine it with our system of government where money has huge influence?
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Old 10-17-2012   #7
 
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Quote:
Originally Posted by basil
What happens when the elite feel entitled AND you combine it with our system of government where money has huge influence?
Point taken. But you need to differentiate between "our system of government" as designed by the founding fathers and "our system of government" that people demanding more and more from the government have allowed it to become. "Our system of government" has evolved from a republic to an Oligarchy because we allowed (even demanded) the constitution to be ignored.
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Old 10-17-2012   #8
 
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It isn't 1776 any more. And the Founding Fathers were people, not gods. Get over it.
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Old 10-17-2012   #9
 
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Quote:
Originally Posted by basil
It isn't 1776 any more.
I believe you are correct.

Quote:
Originally Posted by basil
And the Founding Fathers were people, not gods.
No argument there either.

Neither of those most profound points disprove that having an distant, unaccountable, bloated government attacks money and influence like flies to shit which is exactly what the founding gods, er, fathers tried to prevent.
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Old 10-17-2012   #10
 
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Originally Posted by blutzski View Post
Point taken. But you need to differentiate between "our system of government" as designed by the founding fathers and "our system of government" that people demanding more and more from the government have allowed it to become. "Our system of government" has evolved from a republic to an Oligarchy because we allowed (even demanded) the constitution to be ignored.
I agree though I find that it's more appropriate to describe "people demanding" to "special interests" demanding. Not sure how we always forget that the big money influences regulations just as much as the bleeding hearts do.

Good ol Joe Coors actually has the balls to reference free market ideas in his campaign ads when Coors brewing went into WI and had walker pass legislation to restrict competition. Wisconsin microbreweries up in arms over provision in state budget*|*Raw Replay
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