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Retire to a smaller Box
Wednesday, March 5, 2014 15:11
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And you wonder why?
What adds to the top of anything? Whatever it is below it. The 1% demands tremendous quantities from below to continue or even stay where they are. You know they don’t stay where they are, there is record growth in the higher percentiles. That growth comes from below them which is eating up all the assets of those below them, the vast majority of the world +-10%.
Let’s see how all the 1% earned their way to the top and they should all keep it and not be taxed like everyone else. Who can make $70 Million for a movie (Bullock), or make more than $7 Billion in a year at least in “interest” and didn’t work at all (Bill Gates). There were a record 240 NEW billionaires Forbes informs us. That is a lot of bottom feeders enriching the top.
Mr. Facebook, the kid “Zuckenburg”, or something like, just had a $4 Billion windfall with his Facebook stock. Did he earn that? At normal 2000 hr. work year (40 hours/week for 50 weeks) he would have had to be paid $2 million per hour. That money had to come from somewhere and you wonder why the retirement nest egg isn’t as “golden” as it was supposed to be. It’s bigger and yet smaller, wow! Those that make MORE than inflation don’t worry about buying power. As I like to state the buying power of minimum wage in our senior year in High School, 1968 would purchase they same amount of goods and services as a $17 hr. worker today! At $17 an hour in 1968 you could have afforded a very nice house, now you are at poverty level. Yes, minimum wage has quadrupled since 1968, but buying power has more than halved! Inflation doesn’t bother those who make more than that, they know where the gross meets the net and they take it from below to make sure, that is what tax incentives and offshore accounts and a million other remedies/loopholes that guarantee the wealthy keep their advantage which is leveraged against the people below them on the asset radar.
The former Fed chief earned more money on Tuesday than his entire salary paid him last year as head of the Federal Reserve.
I love it when guys like ….make zillions but give it away saying, “I’ve made enough money in the past to live how ever I want for the next several centuries”.
$1 Billion and make a modest 7% interest? Without touching principal you could spend $70 MILLION a year and keep your BIL under the mattress. Or if you invested that too at 7% you could only spend $4.9 million to make ends meet.
- Bernanke paid $250K to speak Drop in the bucket for those who paid it. Where did all this money come from? Unless you are making it, someone else has that much less.
