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Wealth Inequality in America

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    Originally posted by Devil View Post
    I suspect there's a good deal of this going on with Limbaugh. Regardless of the political butthurt you may or may not have about what he says, if you look at what he's accomplished, how he speaks, the influence he is able to exert on others and how he handles himself in open discussions it's difficult in my opinion to arrive at the conclusion that he isn't a smart motherfucker.

    I believe he's a thinking man and an intelligent guy. Thinking men have a hard time believing the exact same shit decade after decade without so much as blinking. Their lives change, the world changes, they experience different things. Smart people believe dumb shit all the time but smart people rarely believe the EXACT SAME dumb shit their entire lives.

    Rush has been preaching the same shit forever. It was all probably 100% sincere at some point but now there are probably huge chunks of it that he doesn't believe but why upset the fan base that continues to make you millions and millions of dollars for something as silly as personal beliefs? Who will align themselves with him when they find out he's still very conservative but doesn't believe in God, or does believe in abortion or whatever. Nobody. It would be stupid to rock the boat.
    Pretty much my point of view, although I started listening to him back in the early nineties when he was just getting started. He did say a ton of dumb shit...ignorant really, especially about science or technology related issues.

    He has got a lot more sophisticated over the years and polished, but he still throws bombs for a living as well. Rush is a very smart man for sure.

    People like to paint him as an idiot, but he's not. Same with Ann Coulter.

    Comment


      Rush will never tell us:
      1. We taxpayers gave $3,000,000,000 to the rich for their private jets.
      2. The House budget plan will cut food stamps by $40,000,000, cutting three to five million people from the program while 50 billionaires and many more millionaires will be getting our tax monies as farm subsidies. And crop insurance subsidies are SECRET so we don't know how much or who gets the cream. Sure makes me happy that the founder of Microsoft gets zillions in farm subsidies; I sure he's out there hoeing the sweet potatoes and deserves a break.
      3.We'll also be giving JPMorgan Chase four billion. They were busted for mortgage fraud, but of course no one spent any time behind bars and since the fine was tax deductible we get to pay a third of it for them.
      "Preparing mentally, the most important thing is, if you aren't doing it for the love of it, then don't do it." - Benny Urquidez

      Comment


        http://www.upworthy.com/9-out-of-10-...ct-2?c=reccon1

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          I could have sworn I saw that somewhere. I wonder where?

          The average tax payer's donation to food stamps, $36. The average tax payer's donation to corporate subsidies, $847.
          "Preparing mentally, the most important thing is, if you aren't doing it for the love of it, then don't do it." - Benny Urquidez

          Comment


            Originally posted by Permalost View Post
            Youtube ads: click on that vid, and one is treated to a meet-African-American-girls dating site.

            American? Just remember to double-bag before calling.

            Comment


              Originally posted by goodlun View Post
              Well you are already off then. Unless of course you are buying a micro trading server that is right next to the wall street exchange then yes stocks will make you rich.

              The problem with trading of any kind is you really have to have SIZE to matter.
              In fact a lot of trading is simply done on size. Having enough size to move the market about.

              Making 12-15% return as a day trader isn't bad mind you but its not going to make you rich.

              Owning a small buisness is a much better path to wealth. Margins on goods and services tend to be much higher than margins on stocks.
              I've been getting excited about stocks lately. I think when you say having 12-15% return won't make you rich, you mean, it won't make you rich... today. In fact, 12-15% return, assuming you add time as a factor, can definitely make you rich. Using this calculator:

              http://www.buyupside.com/calculators...tmentdec07.htm

              And using MSFT as an example (it's sitting at 36.36 right this second).

              150 share initial purchase, placed in a DRIP account, given 10% annualized dividend growth (using 1.12 starting annual dividend) and 10% annual stock price growth nets you over 300k in 32 years, and that's off an initial investment of just over 5k.

              OK, so 10% annual growth of dividend and/or stock price may not be sustainable over 32 years? change that to 5% each and you've still got over 68K off a 5k investment. No, that's far from rich, but again, this is 5k, with no additional investment. You start adding investment annually, portfolio diversification, etc, and you can see enormous long term growth and return. It just takes patience, time, studying companies that you're considering investing in, and lots of billionaires out there buying stocks to keep the markets moving.

              Compound interest is way more amazing than I'd realized prior to last year.

              In fact, I have plans this year, to pay off the little debt we have, and then open 2 new accounts, one for me and my wife, and one for my daughter, most likely with Vanguard so I can buy into their mutual funds. The idea is not to be rich, the idea is to secure a comfortable future for my wife and I, and to give my daughter a head start (that I won't tell her about until she's old enough to be interested in investing herself).

              Now I don't think this trickle down economics, but this opportunity would not be available to me without all those billionaires out their investing.

              Comment


                Originally posted by AKRhino View Post
                300k in 32 years,
                We have very different definitions of rich apperantly

                Comment


                  Lmao, as I said, that's from 1 investment of 5k. The reality is I'll be making annual contributions of, well, more than that anyway. So, you're right, 300k isn't alot, but multiply that by several times, resulting in several investments and you get the idea that you can make alot of money. The idea in that last post wasn't to say that 300k is alot of money, but to show the incredible growth possible, even starting with a small amount. 10k invested now, with 700$ added per month (8,400 annual) at 10% return gets you a million dollars over 30 years,

                  http://partners.leadfusion.com/tools...ngs01/tool.fcs

                  Lmao, as I said, that's from 1 investment of 5k. The reality is I'll be making annual contributions of, well, more than that anyway. So, you're right, 300k isn't alot, but multiply that by several times, resulting in several investments and you get the idea that you can make alot of money. The idea in that last post wasn't to say that 300k is alot of money, but to show the incredible growth possible, even starting with a small amount. 10k invested now, with 700$ added per month (8,400 annual) at 10% return gets you a million dollars over 30 years,

                  http://partners.leadfusion.com/tools/motleyfool/savings01/tool.fcs

                  Comment


                    Honestly I know quite a lot of people that try to become rich with stocks but really nobody who did. Some even lost quite the money.

                    Yes you can make some money but you have to be realistic. If you don't already have some decent money to spare or are willing to take high risk, you probably wont become rich.

                    Also you have to calculate the time you use for learning about the market, watching it, worrying and so on. You might be better of learning some more practical skills in that time.

                    This is not meant against the plans of AKRhino, which sound reasonable but more of an general rant.

                    Comment


                      I would agree that 100% of the people I know who tried to play the market and make money in the short term failed completely in that regard. By contrast, those who I know have targeted long term growth through smart investments in proven companies, used dividend reinvestment, diversified funds through multiple companies, funds, commodities, etc, have done very well for themselves.

                      It does take time, you do need to do research, and there ARE risks involved. That said, there are a lot of funds out there with long term records of growth. Many of these, while not without risk, have very low risk/reward potential.

                      The idea that you need a large sum of money to get started, I disagree with very strongly. I used to think that as well, until I started actually investing. You gotta start somewhere.

                      Comment


                        Stocks are great for long term savings, hell even as a retirement fund.
                        Its a good way to make a lot of money when you get stocks at a discount.
                        Ie as options, prepublic, or really under valued. That being said that isn't what any of you are talking about.
                        The stock market is for people who already have money.
                        The best way to get rich is and always has been with other peoples money. Be the person being invested in.

                        Comment


                          I would say that anyone who wants to play the stock market needs to meet two prerequisites:

                          1. You can afford to lose your investment.
                          2. You are willing to put in considerable time.

                          There's really no such thing, as far as I know, of getting rich quickly playing stocks. I know people that do own stocks, play the market and are making money; however, it wasn't overnight. These folks started by investing a few thousand dollars in stocks then turned their profits over into other stocks and so forth. One gal I know has about 85k in stock right now, but it took her, IIRC, about five years to do that.

                          It's just as Rhino said...it takes time and and you have to put in the research. The money is there to be made but it's a process...and not a fast one.

                          Comment


                            Originally posted by FinalLegion View Post
                            I would say that anyone who wants to play the stock market needs to meet two prerequisites:

                            1. You can afford to lose your investment.
                            2. You are willing to put in considerable time.

                            There's really no such thing, as far as I know, of getting rich quickly playing stocks. I know people that do own stocks, play the market and are making money; however, it wasn't overnight. These folks started by investing a few thousand dollars in stocks then turned their profits over into other stocks and so forth. One gal I know has about 85k in stock right now, but it took her, IIRC, about five years to do that.

                            It's just as Rhino said...it takes time and and you have to put in the research. The money is there to be made but it's a process...and not a fast one.
                            I don't know anyone that plays the stock market, but investing with the proper funds can be relatively safe. Finding one that has shown decent average returns over a long period of time isn't that hard to do. When I needed that advice I was given the name of a local fund manager and he showed me what they had earned every year for the last 25. There were no years that were in the negative. Slow and steady wins the race.

                            Comment


                              My bf has made mil + in stocks. I've been mostly in real estate which did good until the bansters fucked us. My small IRA with about 15K put in the last couple decades is worth 60K in a spread of mutual funds. Folks still make it, but the field has seriously narrowed, and worst in the US. It's hard for me to grasp why the electorate puts up with bullshit, but socialists, greens, libertarians and others don't get too far telling the truth.

                              Democracy Now! had the two 3rd party prez guys (Stein and Anderson) in the barb wire zone during the recent yak fests tween Mitt and Hussein. They made sense, "For example, on health care, former Salt Lake City Mayor Anderson said: "We're talking here about Obamacare and Romneycare. I would call it insurance company care because they're the ones who wrote it. They joined up with a very conservative foundation years ago to develop this plan, to make the American people buy this perverse product."

                              Well enough political bs, wealth, almost 50% owned by the elite, now income:
                              "Preparing mentally, the most important thing is, if you aren't doing it for the love of it, then don't do it." - Benny Urquidez

                              Comment


                                Originally posted by AKRhino View Post
                                I would agree that 100% of the people I know who tried to play the market and make money in the short term failed completely in that regard. By contrast, those who I know have targeted long term growth through smart investments in proven companies, used dividend reinvestment, diversified funds through multiple companies, funds, commodities, etc, have done very well for themselves.

                                It does take time, you do need to do research, and there ARE risks involved. That said, there are a lot of funds out there with long term records of growth. Many of these, while not without risk, have very low risk/reward potential.

                                The idea that you need a large sum of money to get started, I disagree with very strongly. I used to think that as well, until I started actually investing. You gotta start somewhere.
                                I just got one of my quarterly statements. I'm up over 32k from last quarter. Investing ftw.

                                Comment

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