The Rich must be really scared right about now

nooby_mcnoob said:
250K or 25K or whatever is not rich. It's professional upper class, maybe. I've been making more than that for a long time and I'm not rich.
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1 Million+ house / mansion he paid cash for and about 3Mil+ in his bank account, that to me is RICH!!! and 25K per month from his business, no idea on his wifes.

Me I've got £80 in bank account and $4K in trading account, tis all relative.
 
Turveyd said:
1 Million+ house / mansion he paid cash for and about 3Mil+ in his bank account, that to me is RICH!!! and 25K per month from his business, no idea on his wifes.

Me I've got £80 in bank account and $4K in trading account, tis all relative.
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OK that's getting there, but still not rich.
 
Atikon said:
According to Dalio, we see a downturn in the global economy every 50-70 years or so (think he piggybanks a bit on the Kondratiev waves there). In which time ppl have multiple options to deal with the ebb. One of which is to "eat the rich" i.e. tax the crap out of them/nationalize companies. I think the rich, and by that I mean Billionaires who own significant stakes in companies/not millionaires, as well as companies who spend decades lobbying against ppls interest are really shitting their pants right now.

You know it's bad when you see Bezos doing the rounds and throwing money at the problems. The guy who keeps his employees in cages (https://thehardtimes.net/culture/jeff-bezos-pledges-10-billion-to-eradicate-coronavirus-sufferers/).

Insureres who lobbyied allowing Insurers to reject ppl because of pre existing conditions are taking over hospital bills? (https://www.nytimes.com/2020/03/19/health/coronavirus-tests-bills.html)

I think they see the collective change in thinking coming in the US. I just don't know if it is necessary for the rich to be scared there. We have a global Pandemic and the US voted against universal Healthcare aka Bernie. It seems to me that the decades of anti communist propaganda still lingers in ppls heads.

I can speak for Europe, where I believe more companies will be brought back into the Countries to have a baseline of production capabilities. I also believe that we will be more careful in the future with our cash/build up more reserves. The Eurobonds might be the Beginning of a united fiscal Authority and the end of tax havens within Europe.

In conclusion. You might call me a cynic but all this behaviour from ppl who didn't gave a fuck about you a month ago seems like opportunist see the tide turn and try to get prepared not to get hit too hard
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This interview went over well. https://www.google.com/amp/s/www.cn...eds-to-let-hedge-funds-billionaires-fail.html
 
Why are people who believe in the right and moral cause always a tad stupid and can't make their case in a coherent language? Like in this interview you linked to. Why any of those hedge funds and large companies deserve to go bankrupt? Because they made stupid decisions to not prepare for any downturns. Instead they bought back shares time after time after time again. I agree with an earlier poster, the 2tln bailout is again mostly propping up the wealthy. Only a tiny fraction reaches the individual on main Street.

JesseJamesFinn1 said:
This interview went over well. https://www.google.com/amp/s/www.cn...eds-to-let-hedge-funds-billionaires-fail.html
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I think that now is a difficult time for all people, because the reasons are different, but they are related to the same thing - money. For example, there are a lot of people around the world who are unemployed, especially those who work in private companies or have no formal employment. These people have no social security at all, and throughout the quarantine period these people have to pay utility bills, pay rent, buy food, etc. And those people who are receiving aid from the state are now receiving it in part. And this affects the economic condition of all countries one way or another. It seems to me that the best thing that can happen now is to end quarantine and help people with employment, and in the shortest possible time.
 
The rich have their own psychology, which may not fit into some more familiar framework for the middle class. On the other hand, they may have different ways of managing money. Indeed, there are those who do not consider money, spoiling themselves with a beautiful life and buying expensive toys. But there are those who donate money to charity and science, there are those who live modestly despite their huge incomes and teach their children the same. I think a lot depends on how one becomes rich. If he was born into a rich family, then there is a possibility that it is just a habit for him. And if a person has gained his wealth personally through his work, then there is a possibility that he is not too spoilt and will be more careful with his money or distribute it much more wisely.
 
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