That's right Mark, you should have been a psychologist. On Sep 13, 7:50 am, mark <[EMAIL PROTECTED]> wrote: > anyone who attacks the rich are just jealous that theyu themselves are > not rich. and it always seems to be the leftwing socialists who do > the most complaining. and why are these folk not rich? because they > are either too stupid, or too lazy to make money. > > On Sep 12, 5:26 pm, Gaar <[EMAIL PROTECTED]> wrote: > > > Misfortune? > > > The Poor in the U.S. Live in better conditions than the AVERAGE > > European... > > > Imagine that. > > > On Sep 12, 2:17 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > Nothing to gloat over here, and less you like gloating over the > > > misfortune of your own people. > > > > On Sep 13, 6:37 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > He is very jealous, obviously... > > > > > On Sep 12, 1:36 pm, mark <[EMAIL PROTECTED]> wrote: > > > > > > jealous? > > > > > > On Sep 12, 4:35 pm, Frank <[EMAIL PROTECTED]> wrote: > > > > > > > WSWS : News & Analysis : North America > > > > > > The very rich in America: “The kind of money you cannot comprehend” > > > > > > By David Walsh > > > > > > 19 April 2006 > > > > > > > Use this version to print | Send this link by email | Email the > > > > > > author > > > > > > > “Let me tell you about the very rich,” F. Scott Fitzgerald famously > > > > > > wrote in a 1926 story, “They are different from you and me.” But > > > > > > even > > > > > > Fitzgerald could not have imagined how different “from you and me” > > > > > > the > > > > > > very rich would become in America eight decades later. > > > > > > > The sums that the very wealthy have at their disposal in the US are > > > > > > almost unimaginable: Oil executive Lee Raymond receiving some $400 > > > > > > million in a retirement package; the 2005 compensation of bank > > > > > > chairman Richard Fairbank totaling some $280 million; Omid > > > > > > Korestani, > > > > > > head of Google’s global sales, exercising stock options providing > > > > > > him > > > > > > with $288 million last year. > > > > > > > The accumulation is brazen. What once would have been considered a > > > > > > somewhat discreditable fact of social life, the proliferation of > > > > > > billionaires, is now hailed as a sign of America’s success. The > > > > > > demise > > > > > > of the Soviet Union and the supposed absence of any alternative to > > > > > > capitalism, the putrefaction of the AFL-CIO trade unions, the > > > > > > ignominious collapse of American liberalism and the lack to this > > > > > > point > > > > > > of broad-based, organized political opposition to the ruling elite > > > > > > and > > > > > > its two parties have rendered the American financial aristocracy > > > > > > “dizzy with success.” These people have lost their heads. > > > > > > > In the face of public outrage over oil company profits and soaring > > > > > > gasoline prices, Exxon arrogantly defended Raymond’s hundreds of > > > > > > millions, arguing that they were rewarding the executive’s > > > > > > “outstanding leadership of the business, continued strengthening of > > > > > > our worldwide competitive position, and continuing progress toward > > > > > > achieving long-range strategic goals.” The company added that it > > > > > > considered Raymond’s compensation package “appropriately > > > > > > positioned.” > > > > > > > In a study published in October 2005, three accounting professors > > > > > > reported that negative, even occasionally scathing press coverage, > > > > > > “does not substantively change corporate behaviour with regard to > > > > > > pay > > > > > > packages.” The American establishment is all but impervious to the > > > > > > sentiments of the broad masses of the population. In response to a > > > > > > recent report detailing the immense and growing social gap, a > > > > > > spokesman for New York state’s Business Council told a reporter that > > > > > > the incomes earned by his state’s rich were “something that > > > > > > everybody > > > > > > who cares about New York should be pleased about.” > > > > > > > An insulated world of immense wealth exists as never before, at > > > > > > least > > > > > > in modern US history. The number of Americans with assets of $1 > > > > > > million or more reached 7.5 million in 2004, according to a survey > > > > > > conducted by the Spectrem Group. Beyond that, however, are those who > > > > > > possess “Ultra High Net Worth” (a mellifluous term invented by > > > > > > Merrill > > > > > > Lynch circa 2001): individuals in households with $5 million or more > > > > > > in net worth. In a country of 300 million people, the UHNW form a > > > > > > very > > > > > > small percentage of the population, but a not insignificant number > > > > > > in > > > > > > absolute terms. Economic, political and cultural life in America is > > > > > > to > > > > > > an enormous extent organized for their benefit. > > > > > > > This is not simply obscene or unjust, it is socially irrational and > > > > > > immensely destructive. How is it possible to allocate resources, > > > > > > repair and renew the infrastructure, carry out any type of long-term > > > > > > economic planning, cure any social ills, when the official guiding > > > > > > principle is the ability of an oligarchic elite to accumulate ever- > > > > > > greater personal wealth? The gravitational pull of such wealth > > > > > > asserts > > > > > > itself in every aspect of life. > > > > > > > The New York Times reported last year on a relatively new > > > > > > phenomenon, > > > > > > magazines oriented entirely toward the very wealthy. Absolute > > > > > > Publishing, the Times noted, had just started up a publication > > > > > > called > > > > > > Absolute, “for distribution to New Yorkers with an estimated annual > > > > > > household income of at least $500,000.” > > > > > > > The editor of Absolute, Ernest J, Renzulli, is aiming for an > > > > > > audience > > > > > > of only 60,000 New York residents. He found his target readership > > > > > > “by > > > > > > winnowing databases of the most affluent New York ZIP codes with > > > > > > people who have bought houses for more than $2 million and people > > > > > > who > > > > > > have registered cars, boats or planes that cost more than $75,000.” > > > > > > > “It’s a small number,” the Times quoted Mr. Renzulli as saying. “But > > > > > > this is not a magazine that’s about mass reach. It’s about reaching > > > > > > the tip of the pyramid.” > > > > > > > The Times take note of Michael Silverstein, an executive with the > > > > > > Boston Consulting Group and co-author of Trading Up: The New > > > > > > American > > > > > > Luxury. Silverstein estimates that by 2010 Americans will spend $1 > > > > > > trillion on luxury goods. The Times continues: “In an ever more > > > > > > fragmented media world, the rich are becoming their own niche. They > > > > > > may be diverse connoisseurs of fashion, yachting or jewelry, but > > > > > > they > > > > > > share one important trait: a seemingly bottomless supply of > > > > > > disposable > > > > > > income.” > > > > > > > It must indeed be a predicament to be saddled with tens of millions > > > > > > or > > > > > > hundreds of millions of dollars, or more—how is one to spend such > > > > > > sums? Those “awash in cash” (the Times’ phrase) must rack their > > > > > > brains > > > > > > and devote hours to the problem. How could one ever rest? Would not > > > > > > a > > > > > > person require a certain degree of inventiveness to come up with > > > > > > ways > > > > > > of spending such a fortune? > > > > > > > Judging by the results in published reports—no, not particularly. By > > > > > > and large, the fabulously wealthy have derived their fortunes from > > > > > > inheritance, the stock market, the real estate bubble, fortunate > > > > > > investments in technology or, perhaps, American militarism: in > > > > > > short, > > > > > > from semi-automatic economic and social processes associated with > > > > > > the > > > > > > lowering of living standards for millions in the US and the super- > > > > > > exploitation of masses of people in impoverished countries in other > > > > > > parts of the world. They are not startling or outstanding in any > > > > > > fashion, except perhaps in the depth of their greed and > > > > > > shortsightedness. > > > > > > > So we learn that Microsoft’s Paul Allen owns a $250-million, > > > > > > 414-foot > > > > > > “gigayacht,” with seven decks, two helicopter landing pads, a > > > > > > swimming > > > > > > pool, a basketball court, an infirmary, a garage for Land Rovers, a > > > > > > movie theater, a concert space for 260 and a recording studio. Not > > > > > > to > > > > > > be outdone, Larry Ellison of software giant Oracle had his giant > > > > > > yacht > > > > > > built 452 feet long. Ellison’s vessel has five stories, 82 rooms, “a > > > > > > wine cellar the size of most beach bungalows, a dozen yacht-length > > > > > > tenders, and a generator capable of providing enough electricity > > > > > > for a > > > > > > small town in Idaho or Maine... Final cost: $377 million.” > > > > > > (Associated > > > > > > Press) > > > > > > > The wealthy elite are also purchasing their own widebody airplanes, > > > > > > reports Business Week—Airbus A340s and Boeing 777s, which list for > > > > > > over $100 million—as “airborne penthouses.” Customized outfitting > > > > > > may > > > > > > add $25 to $30 million to the cost. > > > > > > > The “supercar” business is also thriving. Ocean Drive, one of the > > > > > > new > > > > > > magazines aimed at the affluent, carries a piece on Michael Fux, > > > > > > whose > > > > > > Sleep Innovations manufactures Memory Foam products. Fux has > > > > > > collected > > > > > > some 50 luxury cars. He recently took possession of a $2 million > > > > > > Ferrari FXX, one of only 20 in the world. > > > > > > > USA Today, in a piece describing the new “super-rich supercar > > > > > > fanatics” who collect Ferraris and Maseratis and Bugattis, cites the > > > > > > comments of one auto broker in southern California, “There’s a whole > > > > > > new breed of collector that has emerged in the last three-four > > > > > > years. > > > > > > Almost all make the kind of money you cannot comprehend.” > > > > > > > Yet great unease persists in these circles. A yacht broker told > > > > > > Associated Press that “a sea change in attitude among America’s > > > > > > superrich” has taken place in the wake of September > > ... > > read more » --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum
* Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
