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View Diary: Peasants as far as I can see (169 comments)

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  •  Awesome posts (2+ / 0-)

    thank you.

    As to the JC rich man in ten, well, there's our problem.

    The 9 out of 10 who imagine they are rich, and continue to fight for the rich, aren't part of that top 1% now are they. I am acquainted with several elders who imagine themselves to be of that class. They are not, though they fight tooth and nail to deny it, and deny the rest of us a tiny part of the pie that is our due.

    They imagine we're coming for "them", they don't realize they are us.

    And that's why they're sad, sad, sad.

    •  Thank you- Agree with all (1+ / 0-)
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      And actually I would add. Due to being in house counsel at various businesses, you are absolutely correct about how people judge themselves. And we imagine them.

      I've come to realize the more money most appear to have, for many, the more debt. It's hard to find 1 in 10 who believe they have to act like a 1% but aren't when you get down to it. But they can't imagine the fact that they aren't. Sure you have a $500,000.00 house, but you have a $450,000.00 mortgage (similar for rental properties many have many but again, the banks are even making hard on them and when you do the math you are absolutely right they are not at all of that Class.

      Completely agree as to everything, I remember in the Debt Ceiling discussion I was at this Securities Firm Office (very big firm) and someone who imagined themselves to be 1% Im sure, was talking about not raising it and I said (shouldnt have as I am an attorney not to get into politics, was just not a client so was talking loose) "talking about what we'll do in not raising the debt ceiling is like talking about what you'll do the day after you commit suicide".  I am quite sure he had no sympathy for Ford, etc but I would have to believe due to his business he probably is fighting his own CH 11's and probably is not even solvent today.

      You get success, you get credit, you get too much debt.

      I'd add they aren't sad (getting back to personal experience) about the government taking their money. It was funny I saw a company get a rebate check for the ACA and had no clue why. They just sit and watch CNBC and the stock meter. All day. They're sad when the bell rings, and that's all they have- to keep working. And their families hate them for it.

      •  That is to clarify (0+ / 0-)

        1/10 might actually be not debt riddled. Most are so cross-collateralized who knows if they are worth more, they think so, but it's an illusion.

        Although peronally, from what I see the banks are the problem. Some companies I work at, if they lent like they aer supposed to, the top ppl would gladly hire, not cut hours, etc. But instead the banks are just on a Capital Strike. So when you get to those Debt filled individuals, I'd guess a lot aren't doing for the $ (I'm sure many are) they are doing to keep together what they have, and belief (that is hurting the smaller guys- because the smaller guys do tasks that make them money).

        The banks simply don't care.

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