CDZ Actual 1%/Mythical 1%/Wannabe 1%

Discussion in 'Clean Debate Zone' started by william the wie, Apr 25, 2017.

  1. EverCurious
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    EverCurious Gold Member

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    Baby Boomers.
     
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  2. william the wie
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    william the wie Gold Member

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    Adjusted for inflation and population growth the % of millionaires has gone down since "the millionaire next door", my source, was written ooh!
     
  3. william the wie
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    william the wie Gold Member

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    Yep, based on home equity. If you can sell your House in NY or CA you are a millioinaire if not you lose the house to back taxes.
     
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  4. The Sage of Main Street
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    The Sage of Main Street Silver Member

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    Prometheus Bound

    Sounds right, but not true at all. I was one of the few who reacted to being betrayed by my parents, teachers, and the ruling class. They told me to study and get high grades, which led to my classmates treating me like a freak and a loser. So I quit studying because those who had urged me to study had led me into that instead of protecting me from it.

    It was all by design, which I only figured out later after blaming my manipulated classmates at first. The plutocratic parasites extract their wealth from humiliated High IQs who have no self-respect.
     
  5. jwoodie
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    jwoodie Gold Member Supporting Member

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    Sorry to hear that.
     
  6. The Sage of Main Street
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    The Sage of Main Street Silver Member

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    Crushing the Seeds

    You're more sorry than you're allowed to believe. Nerdbashing has deprived us of the cure for cancer and many other valuable things. The King Ape plutocratic bullies get away with it because you never know what you miss unless it is actually invented and taken away from you.
     
  7. Picaro
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    Picaro Gold Member

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    $1,000,000 in 2016 dollars is about $65,000-$67,000 dollars in 1970 dollars. Not much at all, really; people have been gradually desensitized into being oblivious to how little they actually have. Most these days really believe '$50K a year household income' is 'middle class', when all it is is a married couple with both working a couple of jobs paying less than minimum wage adjusted for inflation and combining them. A mil is not nothing, but it isn't financial security or impressive wealth either. One isn't going to be living anything like the 'lifestyle' depicted in your link for long at all with just a million or even 5 million. Maybe once a year celebrating your anniversary one night.
     
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    Last edited: Apr 30, 2017
  8. JoeMoma
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    JoeMoma Gold Member

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    Yes, that's how inflation works and is exactly why millionaires are not rare anymore. I did a little research a day or two ago. There are approximately 10.8 millionaires in the United States out of a population of approximately 326 million people.
     
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  9. william the wie
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    william the wie Gold Member

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    Illiquid assets that don't throw off positive cashflow are joke assets even when unencumbered and this thread is about the 1%s : mythical, actual and wannabee. Defining mythical as those who actually can get by without a job and never miss a meal where are the Morgans, Carnegies, Bells and Edisons today?

    Actual: 3,260,000 in number, usually defined as more than $100,000 in liquid assets and either no debts or debts less than liquid assets in hand but less than 1% of the population meet that definition including most of your millionaires.

    Wannabees: include the majority of your millionaires which is why I find your position absurd. Your millionaires include Star Wars memorabilia millionaires driving Porsches with notes on them.
     
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  10. DarkFury
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    DarkFury Platinum Member Gold Supporting Member Supporting Member

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    There should not even be a debate as to what a true millionaire is today. The debate between a paper millionaire and a cash fluid millionaire was settled in 1929. Paper only holds the value of the paper itself about 15 cents a pound.

    Cash fluid is the only thing that allows you to move quickly like hard items like real estate or gold etc.
    If the market falls out of whatever item you are merely holding paper on you are broke over night. The real estate bubble proved that.

    So your fluid money needs to be one of two things.
    1 it needs to be accepted on the world market and has an accepted trading value such as gold.
    2 it needs to be two big to steal such as land itself. Not the paper but the raw land.

    I have been buying homes in Josephine county Oregon for about a year now. Homes once listed at 100k plus now sell for 13k tops! The county is bankrupt and have no police and the drug addicts are stripping the homes God bless em! I say that because their theft is my greatest tax deduction plus it forces my property taxes down!

    Sometime over the next three to five years I will have those homes burnt to the ground legally! When the county comes out of bankruptcy I will have some of the finest bare lots with utilities at the curb in the entire county.
    And most of those 1 to 3 acre lots that I have secured at an average of 3k an acre can be sub divided into half acre lots! And sell overnight at 10k to California's!

    The key is not for you the investor to rebuild a city town or county. You merely sell the dream. Now the profit margin may look small to most folks but is 200k really that small for one trip one county plat map and a dozen phone calls?

    Puts and calls have their place yes but hard items when based on sound use needs hold and drive a solid portfolio. Cases in point.
    1 my coal stocks I bought very very cheaply are up by huge amounts and that profit margin will be going to Josephine county Oregon.
    2 my !ever brothers stock never budged downwards in the last eight years. Soap and shampoo sells because Americans don't like to be dirty. And while kenmore or whirlpool made sell a few durable goods per year laundry soap sell by the millions of tons per month!

    The investment market is only as hard as you or others you hire and trust make it.
     
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