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It’s Not So Easy Being Less Rich
nytimes.com — The wealthy don ’t generally speak publicly about their finances, in good times or bad. It’s in poor taste, for one. Lawyers, art advisers, personal trainers and hairstylists, say they are getting an earful about their clients’ financial anxieties...in those gilded living rooms, there is a quiet nervousness about keeping up appearances.
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- iticu, on 06/01/2008, -2/+50I don't know if I could live if I only got paid $8 million a year.
- joel8x, on 06/01/2008, -12/+10Put it in perspective. The guy lost 60% of his income. Now take you income and cut it by 60% and imagine how you feel. It's the same for him as it is for you. You most certainly would survive, but everything you have become comfortable with would change.
- thawkth, on 06/01/2008, -3/+28If I lose 60% of my income, I wouldn't be able to drive to work (insurance/gas/maintenance), eat, or most likely even pay rent. Something would have to give.
8 Million a year and someone's bitching? Are you friggen serious?
Put it in perspective. The vast majority of the human population lives in some form of poverty and at the very least must be consistently worried about surviving.
8 Million Dollars is a lot of money, and a ton of power. It's comfort. It's safety. It's a voice. It's freedom in many ways that most others can't even concieve.- intense321, on 06/01/2008, -2/+7Yes, you wouldn't be able to drive to work, but you'd still be able to live. I am from a 3rd world country, where an entire lifetime savings is probably worth only your 1 day's pay. Put THAT in perspective. You could still move to a 3rd world country and live a life of luxury with the money in your bank account. People in my situation often times can't.
- Demener, on 06/01/2008, -0/+3And this guy could buy a 3rd world country with the money in his bank account.
No one cares that the rich are making less money, more and more people aren't even making ends meet. If you cant live off 2 million a year your doing something seriously wrong.
- jgzman, on 06/01/2008, -1/+18Yea, he lost 60% of his income. Yea, it's a huge lifestyle change.
He will have to take fewer vacations, get a smaller house, limit himself to two cars or so, and he will be fine.
If I lost 60% of my income, I wouldn't suffer a lifestyle change, I'd starve to death. So would my wife. Don't try to draw comparisons here, there are none.
His 60% of his yearly income income is 480 years of my current income, before taxes. Somehow, I can't seem to generate much sympathy for him. - diggerine, on 06/01/2008, -1/+2Perspective?
Many hundreds of millions of people all over the world live on less than $2 a day. Countless millions don't have access to sanitary drinking water, or access to adequate healthcare, live in slums or huts that don't even have bathrooms or toilets (a hole in the ground is just about what they have for a toilet, or the nearest river or stream), can't feed their families more than rice and some vegetables, if at all. Millions pick through garbage in order to find something to eat, to wear, to use, to sell for recycling.
A hundred thousand dead in Myanmar, up to a million facing lethal disease and starvation, and many more rendered homeless. 70,000 dead from the earthquake in China, hundreds of thousands probably injured and/or have lost their homes and possessions.
A multi-millionaire loses 60% of his income, and that's a such a problem - why? Can't live on a million a year anymore? Has to sell his Porsches, Maseratis, and Ferraris and drive an ordinary Lexus or Benz? Has to fly private using a Beechcraft instead of a Learjet? Cut down on the St. Barts and St. Tropez vacations? Oh the horror! The sacrifices the rich have to make! The world's uneducated poor just absolutely have no idea!
So how's that perspective for you?
- thawkth, on 06/01/2008, -3/+28If I lose 60% of my income, I wouldn't be able to drive to work (insurance/gas/maintenance), eat, or most likely even pay rent. Something would have to give.
- intense321, on 06/01/2008, -1/+12It's funny that you should say that. I was at the airport bar last week and I was sitting next to an investment banker and a professional basketball player (I'll preserve their anonymity). The investment banker turned to to professional basketball player and asked him, "I just don't see how you can survive on only $20m a year." He wasn't kidding.
- joel8x, on 06/01/2008, -12/+10Put it in perspective. The guy lost 60% of his income. Now take you income and cut it by 60% and imagine how you feel. It's the same for him as it is for you. You most certainly would survive, but everything you have become comfortable with would change.
- subversive1, on 06/01/2008, -6/+39Boo Hoo for them
/sarcasm - Babaganoosh08, on 06/01/2008, -22/+4DIGG ME BITCHES
- haxcorner, on 06/01/2008, -4/+21People are too fixated on social-status and appearance, especially in the USA. I don't care how much money I have, I hope that I never leave behind my roots of being an antisocial introvert. There's so much less pressure on you when you never leave your house and don't have to talk to people face to face.
- ronar, on 06/01/2008, -1/+10You are right about the part that people are too fixated on social status and appearance. However, I can understand it to a certain extent. I have a rich uncle who is a successful businessman, and in his line of work (real-estate and industry), social status and appearances are important because they signal that you are successful and that makes it easier to get other businesspeople to invest in your business and entrust you their money. Wealth builds wealth.
For the second part, if you really don't care about money your approach is ok, if however you wanted to get rich, getting 'out there' to network and socialise is a very important aspect of running a successful business.- haxcorner, on 06/01/2008, -0/+2I didn't say I don't care about money because that's what pays my bills, takes care of my family and allows us to do things that those around us can't afford to do. What I was saying is I don't care if I move up in the pay-scale - I don't want my personality to change. There's a big difference, though, in internet run businesses and brick & mortar businesses and running a business and working for somebody else. My clients don't know that I hardly shave and have long hair or that my cloths are perpetually wrinkled - 90% of my clients never even hear my voice because everything is accomplished through fax/email & chat.
I'm not saying that networking and socializing isn't important in many cases, but they are not necessarily necessary elements of a successful business. At least based on my experience.
- haxcorner, on 06/01/2008, -0/+2I didn't say I don't care about money because that's what pays my bills, takes care of my family and allows us to do things that those around us can't afford to do. What I was saying is I don't care if I move up in the pay-scale - I don't want my personality to change. There's a big difference, though, in internet run businesses and brick & mortar businesses and running a business and working for somebody else. My clients don't know that I hardly shave and have long hair or that my cloths are perpetually wrinkled - 90% of my clients never even hear my voice because everything is accomplished through fax/email & chat.
- ronar, on 06/01/2008, -1/+10You are right about the part that people are too fixated on social status and appearance. However, I can understand it to a certain extent. I have a rich uncle who is a successful businessman, and in his line of work (real-estate and industry), social status and appearances are important because they signal that you are successful and that makes it easier to get other businesspeople to invest in your business and entrust you their money. Wealth builds wealth.
- Licurgo, on 06/01/2008, -2/+9now you gonna feel how it feels be poor bitches
a cyclic slowdown? hahaha you wish - IronDonut, on 06/01/2008, -0/+39The people that I really respect are the people I know who have amassed wealth but but don't act like ego-centric assholes flaunting it about to seek social status.
Status seeking shows a weak mind with an even weaker self image. Rather than putting yourself in the position to be judged by shallow morons by entering the status wars, why not judge yourself on who you are and what you've accomplished?- gryphon50, on 06/01/2008, -0/+4usually the worst ones are the ones who've simply inherited money, they have to flash alot of cash to make up for their insecurities.
- IronDonut, on 06/01/2008, -1/+0Ironically I wrote that I was thinking of someone that I know that inherited their money.
- SanjayM, on 06/01/2008, -0/+1I'm not sure about the US, but here in Britain i find quite the opposite. I was educated at public school (What we call the older more prestigious private schools, whereas in the US i think what you call a public school refers to what we would call a state school). The people who would most notably flash wealth, buy overpriced clothes and so forth were the 'nouveau riche' - those from families that had recently acquired wealth. They seemed to be very conscious of the fact that they were not 'old money' and would try and buy their way into class, which doesn't work. On the other end of the scale much of the 'old money' were not the typified spoiled brats which you might at first presume. In fact, being that they had little to prove and less concern and insecurity they were far far nicer. There was a notable social gap between the 'nouveau riche' social group and the group that consisted of kids on scholarships/families just barely affording private education as well as the 'old money'.
- IronDonut, on 06/01/2008, -1/+1Ironic that Shakespere an Englishman wrote; "brevity is the soul of wit."
- IronDonut, on 06/01/2008, -1/+1Ironic that Shakespere an Englishman wrote; "brevity is the soul of wit."
- thecatcantalk, on 06/01/2008, -0/+2I have to say, I know a bunch of people who've inherited serious money, and only one of them is a jerk about it. The others are down-to-earth, unpretentious and have a grateful sense of perspective.
But nearly everyone I've met in my life who could be described as a "status pig" has been a man or woman with large amounts of "new money" (e.g., the rancher's son who went to business school, and "has to" socially bully other men in public places and run his mouth all the time...and his vulgar, loud ***** of a wife, who terrorizes waiters everywhere she eats).
- IronDonut, on 06/01/2008, -1/+0Ironically I wrote that I was thinking of someone that I know that inherited their money.
- gryphon50, on 06/01/2008, -0/+4usually the worst ones are the ones who've simply inherited money, they have to flash alot of cash to make up for their insecurities.
- warp25, on 06/01/2008, -4/+34"the wealthy are cutting back on luxuries like $350 highlights and $10,000-an-hour jet rentals"
How terrible for them!
The article do not describe wealthy people in my opinion. Merely high income and an equally high consumption lifestyles. Truly wealthy people don't live like that.- Keshka, on 06/01/2008, -2/+18I agree. Generally, I think that those who actually made their money the hard way know how to make it work for them and make it last.
- KhanneaNL, on 06/01/2008, -3/+9Correct, the truly rich are "anne rice" vampires and only thing they are interested in is power, blood and more power and blood.
- ZenMojo, on 06/01/2008, -2/+4...What? No, really, what? Wealthy people don't have a ***** of money and spend it? What is this, the "not a real scotsman" argument?
"In my conception of wealth, wealthy people are hard-working individuals who donate, look out for their fellow man, and earn their money honestly. Anyone who does not do the above is not wealthy and therefore does not apply."
Spare me the Farmer John's Almanack crap.
- Keshka, on 06/01/2008, -2/+18I agree. Generally, I think that those who actually made their money the hard way know how to make it work for them and make it last.
- 4eloBek, on 06/01/2008, -2/+4Is it a bad sign? I dont know. Or maybe it is?
- ezra802, on 06/01/2008, -1/+39“A year ago, he would have only flown Gulfstreams,” Mr. Sullivan said. “Now it’s moving to the point where he’s flying Beech jets and Learjets.”
What a shame. I wouldn't be caught dead on a LearJet...- fr0mundacheese, on 06/01/2008, -0/+6c'mon, give them credit for really knowing how to cut back and "slum" with the rest of us learjet users
- agsinger, on 06/01/2008, -1/+24Lars wanted to have a gold-plated shark tank bar installed next to his pool, but must now wait a few months, and Britney does not have the sufficient funds to keep a Gulfstream IV, so she replaces it with a smaller Gulfstream III, which doesn't have a remote control for its surround sound DVD system...
- ninjasays, on 06/01/2008, -0/+36It was hard for me to give up my Bentley too. In the end, I realized that I just couldn't afford one on 24k a year.
- frelk, on 06/01/2008, -0/+13Somebody please trade lives with me, preferably somebody in this article.
- KhanneaNL, on 06/01/2008, -3/+21Remarkable, for the first time in history the cult of worship, the idolization of the rich parasites of society, is dead and buried in the US. People are actually starting the loathe the useless rich bastards that plundered society for so long. They might even be in acute danger in some places.
- whorunbartertwn, on 06/01/2008, -0/+15You're naive if you really believe this is the first time people have loathed the wealthy in the US, or that idolization of them is dead and buried.
- sodade, on 06/01/2008, -1/+5Oh how I wish this were true...
- reddikilowatt, on 06/01/2008, -0/+7You must have been born after 1985.
- frygar, on 06/01/2008, -0/+8France called. They want their Revolution back.
The poor always get pushed too hard, they snap, and then murder the rich en masse. That's always been what has happened, and I fear we're on the verge of seeing it happen again.- KhanneaNL, on 06/01/2008, -0/+6/me gets popcorn.
- thecatcantalk, on 06/01/2008, -0/+3Not even. Fat people don't take to the streets with rifles and pitchforks. Only desperately hungry people take to the streets with weapons, torching police cars and lynching landlords. It's not going to happen in the U.S. for another couple centuries.
All the "poor kids" at my college in Albuquerque drove brand-new, tricked out cars and wore brand-new clothes...and we're the poorest state in the Union. "Poor" Americans are filthy rich by most people's standards (outside the U.S.). Where else will you see grossly obese men begging in the streets, telling strangers (with a straight face) that they're "really hungry, dude"? Only in America.
It's kind of hilarious, really.- frygar, on 06/01/2008, -0/+2Point taken, and I see what you mean.
Just for the record, I'm not calling for any rich person's blood, I'm just saying that if you look throughout history (and why this is never taught in Economics, even in high school for crying out loud, is beyond me) the rich get richer while the poor get poorer, and the poor get pissed, and then the rich get shanked. Literally.
- frygar, on 06/01/2008, -0/+2Point taken, and I see what you mean.
- spookybill, on 06/01/2008, -0/+1Good, I can't wait.
- bigjakefhecake, on 06/01/2008, -2/+15For only 20,000 a day you can adopt on of these rich. While this could feed a small city for a day, this only will continue their outrages consumer habits. Sponsoring on of these filthy rich people will provide them with sufficient cash flow to continue their ridiculous lifestyle.
- qetuo, on 06/01/2008, -1/+4I have already adopted the Royal Family with the rest of Britain. Didn't have a choice about it, anyway adopting rich people is not fun!
- MtheoryX, on 06/01/2008, -1/+34"ONE Wall Street executive, Ms. Bauer said, snacks on nuts in her office all day to manage the stress of potentially losing her position..."
I bet she does.- cdigioia, on 06/01/2008, -1/+7That was really clever...
- thecatcantalk, on 06/01/2008, -0/+5OK, now that was funny. Props.
- exgiexpcv, on 06/01/2008, -0/+2Somebody buy this person something shiny!
- duckyinc, on 06/01/2008, -0/+3It's not easy being rich either with all the posts about it and all.. so to sum it up, nytimes is screwing it up for both.
- verbose, on 06/01/2008, -1/+23Wait a minute, the poor are getting poorer *and* the rich are getting poorer?
- exgiexpcv, on 06/01/2008, -0/+2The hyper-rich are getting richer. There are now divisions emerging in the top 10%, income-wise. While there's a part of me that feels compassion for anyone in distress, there's my dark side that yells, "Yeah?! Try living off of unemployment and food stamps, you ***** assholes!"
- dawa259, on 06/01/2008, -2/+18Reading that makes me sick! When my family barely scrapes to the point of not having a place to live there having to fly in Learjets in stead of Gulfstreams... Oh the horror of flying in a 25 millon dollar jet in stead of the 100 million dollar Gulfsteam.
- Yamahaha, on 06/01/2008, -1/+7BREAKING NEWS!!!
The rich don't have enough money! - kylere, on 06/01/2008, -1/+17Oh fraking WAHHHHHHHH If you are worried about your woman leaving you because of not being able to afford as much ridiculous garbage, then you are an IDIOT. Getting fat because you only have millions to spend this year rather than millions*2, wahhhhhhhh! At the risk of quoting a song;
"I hate those people who love to tell you
Money is the root of all that kills
They have never been poor
They have never had the joy of a welfare christmas"
-Everclear - Marking, on 06/01/2008, -8/+2You can bitch about the wealth all you want but when the economy goes south the are the ones that keep spending the big dollars and keep moving the economy forward. All be it at a slower pace, but I still have an income because of the wealth willing to keep spending.
- sup3rnautx, on 06/01/2008, -1/+3that's not really true. the reason rich people are rich is because they are smart with their money. i seriously doubt it would be smart to invest (aka spend money) in a failing economy when you yourself are suffering significant losses. no, more than likely, they will hold on to their money or put it somewhere else.
it sounds like you're supporting "trickle-down" economics. it was clear then as it is now; trickle-down economics is an off-handed attempt by our government to justify tax breaks to the wealthy. get real, man. - spaceman84, on 06/01/2008, -1/+1The rich hoard their money. That's why they're rich in the first place.
- sup3rnautx, on 06/01/2008, -1/+3that's not really true. the reason rich people are rich is because they are smart with their money. i seriously doubt it would be smart to invest (aka spend money) in a failing economy when you yourself are suffering significant losses. no, more than likely, they will hold on to their money or put it somewhere else.
- fr0mundacheese, on 06/01/2008, -0/+9poor me, i wont be able to pay cash for my private jet.
- mochaman, on 06/01/2008, -0/+11Who knew the rich get fat when they lose money or get lose wealth. The irony!
- gryphon50, on 06/01/2008, -0/+27some people have kids that go hungry and I am supposed to empathize because rich people can't keep up appearances?? Also, that guy with the wife who might leave him...That's what you get for marrying a gold-digger. If her looks are still intact and your money isn't, the deal you made is over. Choose better next time, you idiot.
- itsgotyou, on 06/01/2008, -0/+9If you have to count your money, then you're not trully rich.
- ZenMojo, on 06/01/2008, -0/+4No, you're rich, but you're not AS rich. Some ***** spending 650 on dinner everyday is still rich, even if he tips poorly.
- aethelberga, on 06/01/2008, -0/+7I'm tempted to say "Cry me a river," but I suppose at that level all you have is superficial appearances and when they're gone, from that perspective, you really do have nothing.
- atomicrobot, on 06/01/2008, -0/+6Money is great, but having a lot screws up your value system and makes stupid things become important.
I work at an ultra-luxury resort and you wouldn't believe the ranting and raving we hear if you put the wrong types of flowers in their rooms, or their hour long massage isn't perfect. You'd think it was the end of the world. - mrmuttley, on 06/01/2008, -0/+13My heart bleeds for them.
/looks at bank statement
Actually no. Stuff them. Let them live in the real world for a bit and see how they get on. If your wife is going to leave you because she can't spend hundreds of thousands of dollars on overpriced tat then you should have kicked her out a long time ago and got a woman whose with you because she loves you not your credit card. - Treoinmypocket, on 06/01/2008, -9/+4Pure sensationalist crap. The Recession, despite the media's attempts to invent it, hasn't come and the mortgage "crisis" is bottoming out.
Sure prices are high - that has a lot to do with one too many rate cuts by the Fed - but the economy has been GROWING not slowing.
Bring on $6 gas, I and the people driving the economy, can afford it.- fuze44, on 06/01/2008, -0/+1And the rest can go to hell? I can't afford $6 gas.
- Treoinmypocket, on 06/02/2008, -0/+1No - just shut up and deal with it. You can afford it. Stop going to McDonald's for lunch; work harder to make more money, get a 2nd job if you need to.
The bottom line - and my point - is that this ***** about how the rich are less rich is just that - *****. Not to mention, the definition of "rich" is prejudiced to begin with. People making 100k, 250k, 500k? The majority of those people are working their asses off, not sitting around lighting cigars with 100 dollar bills.
Most are business owners who have their houses on the line and employees whose healthcare they are struggling to keep affordable and effective.
The economy hasn't gone into negative growth at all - it has been growing and the media HATES that. They WANT failure, so they can talk about it. The media - once our greatest freedom - has become our enemy.
They will show you numbers that show growth - then look you right in the eye and tell you how bad things are.
So yeah, I was being a douche - to make a point. Stop sucking in the bilge the media is spewing, deal with your real problems rationally and work as hard and smart as you can. No one can help YOU but YOU.- fuze44, on 06/04/2008, -0/+0Shut up about what? the ***** that is the oil industry? No ***** way. Trickle down economics, my ass! The American economy is turning into a giant vacuum that sucks money into the accounts of the super rich.
I agree with your points about the media. You're fortunate to be in a position where gas prices don't affect you. You're not in a position to think that you know others' situations. Get a second job to be able to pay for gas? Sure, it may be necessary, but it's ridiculous.
- fuze44, on 06/04/2008, -0/+0Shut up about what? the ***** that is the oil industry? No ***** way. Trickle down economics, my ass! The American economy is turning into a giant vacuum that sucks money into the accounts of the super rich.
- Treoinmypocket, on 06/02/2008, -0/+1No - just shut up and deal with it. You can afford it. Stop going to McDonald's for lunch; work harder to make more money, get a 2nd job if you need to.
- Demener, on 06/01/2008, -0/+1Come back in a year and we'll talk.
- Treoinmypocket, on 06/02/2008, -0/+1yeah yea....i been hearing that for years. I'll be right here buddy.
- exgiexpcv, on 06/01/2008, -0/+2And you, sir, are a douchebag. Your self-centredness, your utter lack of empathy, is nothing short of astounding.
- Treoinmypocket, on 06/02/2008, -0/+1***** empathy - work harder & smarter. Stop bitching and get to work. And stop looking for the government to help you - they have no idea what they are doing.
- fuze44, on 06/01/2008, -0/+1And the rest can go to hell? I can't afford $6 gas.
- qetuo, on 06/01/2008, -0/+3I nearly cried, it is so sad. Poor theme, not being able to flash as much cash. Bottom line the rich become richer by stamping over everyone else, and normal people become poorer.
- rmeddy, on 06/01/2008, -0/+9Play me the smallest violin in the world , that kind of ***** social pressure only means the wealthy will continue this ZeroSum game with the rest and make it more and more difficult to maintain the middleclass,if things continue they way their going it'll time to bring back the guillotine.
- username484767, on 06/01/2008, -0/+6boo ***** hoo
- Cyberdactyl, on 06/01/2008, -0/+9"One of her clients recently confessed that his net worth had decreased to $8 million from more than $20 million, and he thinks that his wife will leave him."
I have some breaking news for the dude from one of the impoverished (55K/yr) masses. You need to dump her now, while you can. - RedViper1999, on 06/01/2008, -0/+6Wow I look at the college debt I still have and I feel really sorry for them.
- ltchimpo, on 06/01/2008, -4/+3Sigh, it's articles like this that plant the seeds of laziness. Why work hard to earn money that presents new options when it's just like Biggie said: mo money, mo problems. I'd rather just chill where I'm at and ***** on rich people for not paying for me to sit around and play GTA all day. We really can't usher in this warped capitalist/socialist abortion of governing any faster, can we? Let's take away any incentive for creation and research and, instead, replace it with feelgoodery through happily paying 75% of our wages to taxes. That way we can feel good because the politicians tell us we should, because they're managing our money in ways that we don't understand to solve problems in the never-arriving future. Christ, why should they though: once you solve your focused-on issues you become obsolete. If you're a one-trick pony politician you've got to maintain power someway.
Who's to blame: parents. You children are your legacy. Educate them better that the state can. Teach them the things you've learned. Take responsibility for your ilk, don't let them become drugged out failures that take advantage of our corrupt state-assistance programs. Teach them to be better Americans. It's on us. Not the state, not the government, not Obama, not McCain and certainly not Hillary. If we give the government responsibility for the state of our own lives we become shells, syncopes, robots, SLAVES.
Oh, and buy a gun if only to keep locked in your closet.- Anomaly100, on 06/01/2008, -0/+1The blaming on each other and the "me generation" new kids that have come seem to only add to the problem which could be solved when kids are much younger before society gets ahold of them and they are satisfied with their new Grand Theft Auto, et al, which we know expands the brain, nil. I agree with you when you said, "Once you solve your focused-on issues you become obsolete." The politicians that gain power by saying one catch phrase such as "Read my lips, no new taxes" can not be held in esteem IMHO, because they become no more than a game show host. "And the survey says....".
- ZenMojo, on 06/01/2008, -0/+4Yes, how dare you poor people refuse to cheat on your taxes, exploit our resources in a failing economy, sell guns to third-world countries during a civil war, sell soft drinks to genocidal fascists, convert your doorknob factory to an artillery-shell factory, sell shoes at 600% to the US government and then throw away all of the shoes when they change the specs, wipe out an entire indigenous people and steal their land at discount prices, shove this prevailing wealth into a low-tax, high-return bond for decades, and then pass it on to future generations creating a native wealthy class.
That's just ***** lazy.- thecatcantalk, on 06/01/2008, -0/+1Dude, the various native American tribes (north and south) herded cattle by torching entire prairies to drive large herds of buffalo in the desired direction. The Haida Indians in Oregon/Washington/B.C. threw "potlatches" several times a year, during which all the tribal chiefs would gain status by burning all their nicest possessions in public (just like the old cartoon of the fat rich man lighting cigars with $5 bills). Nearly all the tribes practiced slavery, some were REALLY into human sacrifice, most routinely tortured prisoners for fun, they nearly all treated women like *****, and quite a few ate their neighbors.
So, when I hear about the "barbaric monstrosity" of industrial cultures, I laugh. Because I know that everything that went before was much worse and far nastier than any of the modern injustices we're all brainwashed in school to think of as "unparalleled evil". Lighten up, dude. We're all incredibly lucky, even the poorest of us.
There were good reasons why our ancestors were so desperate to get out of Europe, too. This really isn't bad at all. Don't believe the hype. - ltchimpo, on 06/01/2008, -0/+1Zen,you can make money and attain wealth legally believe it or not. You can do it without exploiting natural resources (but... well, what else do we do? harvest all Earth has and what? start mining space? yeah right, we're but primitive creatures that are not capable of space travel. Earth is all we have now and will have in the future, right? So we must use all things in moderation?). You can do it without selling weapons to third world countries, or creating ammunition too.
And stealing their land? Didn't the Spaniards, the English, the French, the Etc's, the etc's all come and kinda claim a piece of the pie? Hell, if the tribal chiefs had weapons, populations, boats, the will to travel... wouldn't they have come to Europe? It's survival of the fittest. Not sure if you know this, but it's a fact. It's not sad. It's not good. It just is. But hey, who knows? It may happen where affluent yuppies become the fittest, what with their gym memberships, salaries with benefits, PTO, their desktop decorations that show how unique their cubicle owner must be, their dockers with matching loafers, their feel-goody causes that're really just a ruse to trick their audience into thinking that they have a deeper purpose in life other than working for a paycheck so they can pay off their hybrids, their flatscreen Energystar-sticker-still-on-it flatscreen TVs, their earthfriendly bottled waters, their overpriced organic food from that nice little place they know- and they'll tell you all about it! They want you to know that they still embody that freewheeling 70s spirit of 'Damn the man!', because if they know anything: they know that it's cool to be Anti-. Not necessarily Anti-American, Anti-Slavery or Anti-religion. I'm talking Anti-anything. Just: Anti-. So long as you're against the common trend and have a morally righteous foot to stand on you can be the iconoclastic debutant at the neo-hippie ball. Who knows, maybe the yuppies will rule one day? Maybe we will have that socialist society that chisels away the fortunes of the wealthy to support a poor class that is too afraid to: commit tax fraud, make weapons, sell them to warring, uneducated people, or make a fortune and pass it on to their kids. Why do that when our kids can rely on the same government we did? Why work to create a good future for your children when you can just vote for outlandish government programs that will take care of them for you? That way the only people that will lead lives of luxury will be those that are on the upper echelons of government, ruling over lesser state and federal employees. And I trust those people, those politicians, because I'm Anti. I'm Anti-cautious. I'm Anti-curious. I'm Anti-questioning, I'm Anti-circumspect, I'm Anti-thought, I'm anti-logic. I'm the most dangerous voter there is baby, so best watch out. I'm Anti-systematic-thought-processes-that-reveal-truths-that-seem-to-be-blurred-by-soft-mushy-feelgoodery. And I'm here to stay.
- thecatcantalk, on 06/01/2008, -0/+1Dude, the various native American tribes (north and south) herded cattle by torching entire prairies to drive large herds of buffalo in the desired direction. The Haida Indians in Oregon/Washington/B.C. threw "potlatches" several times a year, during which all the tribal chiefs would gain status by burning all their nicest possessions in public (just like the old cartoon of the fat rich man lighting cigars with $5 bills). Nearly all the tribes practiced slavery, some were REALLY into human sacrifice, most routinely tortured prisoners for fun, they nearly all treated women like *****, and quite a few ate their neighbors.
- makemoneynotart, on 06/01/2008, -0/+9"One of her clients recently confessed that his net worth had decreased to $8 million from more than $20 million, and he thinks that his wife will leave him. He has hidden their fall in fortune by taking on debt to pay for her extravagant clothes and vacations."
If appearances really mean that much to you, you already have nothing to live for.- Kidtuf, on 06/01/2008, -0/+4Well said. The mentality that a lot of these people have reminds me of high school, where unless you had the proper gear you weren't part of the "In" crowd.
There is certainly a lot more to life than impressing people with unnecessary expenditures.- Edgen22, on 06/01/2008, -0/+1People made fun of my blues.
- Kidtuf, on 06/01/2008, -0/+4Well said. The mentality that a lot of these people have reminds me of high school, where unless you had the proper gear you weren't part of the "In" crowd.
- beersnob, on 06/01/2008, -0/+7What we all need to be afraid of is the fact that this article says the rich are borrowing to maintain appearances and to pay other debts. Who's going to bail out the rich when they default? No one! Then we're all screwed.
- Izult, on 06/02/2008, -0/+2no one should HAVE to bail ANYONE out. That's the point. Why in the hell do we have it stuck in our heads that if someone gets into some sort of trouble that they absolutely must be bailed out no exceptions. What ever happened to the concept of live with the consequences of your decisions bad or good? This attitude of "omg they're in trouble MUST SAVE THEM FROM THEIR BAD CHOICES" is what's landed us in the situation we're in now politically. If they ***** up they should have to deal with their bad decisions.
- spaceman84, on 06/01/2008, -2/+2***** those douchebags.
- pandasocks, on 06/01/2008, -0/+1This article was really interesting. Obviously, I don't feel bad that Mr. Smith needs to downsize his chartered plane, but the impact this recession is having (is it official yet?) on societal values is captivating. I hope that having to be more financially cautious might actually make celebrities and billionaires lead less extravagant lives and, in turn, teach the youth (and adults) who idolize them that money isn't everything.
- Phillysotan, on 06/01/2008, -0/+0 There is one thing I will say: As Iron Donut stated earlier, there is a huge difference between those who are wealthy and those who have some sort of issue and feel the indeed to impress everyone, control the Earth, and belittle others.
A lot of people say money is the root of all evil. I do not believe this to be true. It's all in how you use it.
I know great people who are either self-made, or come from families that had the fortitude to teach their children respect for others, regardless of status. These individuals are shining examples that we all can learn from.
We are all part of this journey called life- we need to learn that every person is valuble, and that how much you do or don't have doesn't matter.
It's time to grow up. - brainclog, on 06/01/2008, -0/+6After reading halfway down this article I had to double check that it was not in fact an Onion article...
- Chrontius, on 06/02/2008, -0/+1Yeah, actually, me too.
This is a stunning example of the "Ha ha, only serious" humor genre, more impressive for being entirely accidental.
- Chrontius, on 06/02/2008, -0/+1Yeah, actually, me too.
- Demener, on 06/01/2008, -1/+1Buried for being a waste of time and a waste of bandwidth. NOC.
- Drewnami, on 06/01/2008, -2/+1All articles like this do is discourage people from working hard, lest they break into the upper class.
Seriously, why is it cool to hate the rich? They have money. They pay the majority of the taxes that fuel this country. If anything, you'd want to BE rich...except that everyone would hate you.
I'm not getting it. Isn't class warfare the first step to a violent rev- oh...- Bodhinature, on 06/02/2008, -0/+1Did you read the article? The anxiety that the super-rich have is being ostracized by those who have not lost millions of dollars. In other words, super-rich people hate those who are not super-rich, and they know it.
- exgiexpcv, on 06/01/2008, -0/+2In the words of Maria Bamford, "I'm not technically rich, but I do have a lot of ***** that I don't need and I refuse to share with others, so that feels pretty solid."
- zacharytelschow, on 06/01/2008, -0/+4“They fear their kids won’t get invited to the right birthday parties.”
Are you serious?- Izult, on 06/02/2008, -0/+1sadly yes. Some people really are that shallow.
- NightflyLester, on 06/01/2008, -0/+1Don't take this like I'm sticking up for anyone, but fact of the matter is the sad part is there are some trainers, pilots, hairdressers and car salesmen (even Bentley salesmen) that are the one's really taking the hit on this. Yeah, the whole 'trickle down' theory was jive, but tell that to the housekeeper or landscape person that just got laid off because Daddy didn't get that bonus...
Ahhhh... who the hell am I foolin'? Screw these guys !!! - RationalXubrnce, on 06/01/2008, -0/+2 But the billionaires are doing better than ever!
- gregnorc, on 06/02/2008, -1/+1Article buried. The wealthy don't even need to work to maintain their lifestyle, they could simply live off of conservative investments made with their assets (IE CDs, Blue chip stocks, etc)
The rich might have a lot of money, but take away that fancy job and they're just like you and me. They're living paycheck to paycheck, they just do it with STYLE. - bipolarruledout, on 06/02/2008, -1/+1I'm not defending these people but everything is realitive. People constantly upgrade their lifestyle to match their income. While some of you may have spent your $600.00 check paying off debt many more went out to buy a new TV or other such "luxury" item. Everytime you get a raise and or come into unexpected money try to remember the responible thing to do with it rather than act like the rich people you hate.
- Balath, on 06/02/2008, -1/+1I think that everyone is missing the point here. No one is asking you to pity these people. Most of you who are making these sarcastic, scornful comments would happily jump at the chance to be in their place, and don't try to pretend that you wouldn't spend excess income on silly things. In fact, you probably already do. How many of you smoke? Buy (relatively) expensive junk food? How many of you took out loans for over-priced cars when there were less costly options? And then there's gaming systems.What about cable, satellite? Trust me, you don't need it (at least until 2009).
It's another indicator of the current economic weakness from a different perspective. Take it as such. -
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