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The Bears Explain How The Rich Get Richer

Tyler Durden's picture




 

In an attempt to break the now ubiquitous narrative that "its all about income tax rates", and to challenge the ridiculous new support for QEternity; 'The Bears' that brought you 'The Bernank' are back. In this cartoon, they explain how the bailouts made people like Warren Buffett far wealthier than they should be and exposes who actually benefits from all this QE. The Bears, The Buff-ate, and The Bernank - simply perfect.

 

 

(h/t Omid Malekan)

 

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Fri, 10/12/2012 - 10:53 | 2881684 foodstampbarry
foodstampbarry's picture

Fuck you Bernake!

Fri, 10/12/2012 - 10:59 | 2881701 Lohn Jocke
Lohn Jocke's picture

As the honorable Joe Biden would say: This is a bunch of stuff.

Fri, 10/12/2012 - 11:05 | 2881726 GetZeeGold
GetZeeGold's picture

 

 

I leased all my damn gold to those bears.....and now they won't give it back!

 

Fri, 10/12/2012 - 11:07 | 2881736 MillionDollarBonus_
MillionDollarBonus_'s picture

The model of the climate is now complete. Every factor has now been modelled with 95-100% certainty. There are no more excuses for ignorance about global warning. The left was convinced from the start, as they are realistic and scientifically minded, but right wing rednecks remain ignorant and hostile towards this issue. Climate Change is a very real threat to our way of life in America. There are a lot of people who find it hard to come to terms with the harsh reality of the science on global warming, but the truth is we all need to make sacrifices in our everyday lives. Whether it is skipping hot baths or switching off the lights in empty rooms, every little thing counts towards stabilizing the climate and making sure the climate never changes. It's worth noting that scientists now believe that without human intervention, it is likely that annual temperatures, rainfall and humidity would never change by more than two standard deviations. They are now confident that can:
1. Measure every aspect of the climate
2. Measure and predict the environmental implications across all ecosystems 
3. Keep the climate within predictable and preferable parameters by simply varying CO2, such is the statistical irrelevance of factors beyond our control
4. Predict the exact effect of capping carbon missions on the prices of energy and food across all economies 
5. Predict with confidence that the effect of capping carbon emissions will be a net positive for most people according to their preferences

Fri, 10/12/2012 - 11:11 | 2881745 prains
prains's picture

MDB

 

why do 400 americans own more capital than 150 million mericans?  and lazy is not an answer

Fri, 10/12/2012 - 11:16 | 2881761 Gully Foyle
Gully Foyle's picture

prains

Some are born to money.

Some aggressively pursue money.

Look up Will to Power because that's the answer you are looking for.


Fri, 10/12/2012 - 11:24 | 2881786 NotApplicable
NotApplicable's picture

"You'd have to be an idiot to repeat those mistakes'"

"An idiot, or an economist."

Classic!

Fri, 10/12/2012 - 13:46 | 2882297 mkhs
mkhs's picture

I thought the words were synonymous.

Fri, 10/12/2012 - 15:51 | 2882708 AldousHuxley
AldousHuxley's picture

How do rich get richer?

earn more than you spend.

 

Adjust your 401k and home equity "recovery" to inflation of gold, college education, healthcare, and dollar depreciation after adjusting for all applicable taxes most of you will realize that you didn't get any richer. So spend less. Learn to be happy with less.

 

Rich hate it when slaves say they are happy with what they have and no longer need anything else thus no longer need to work for the rich in a scam where most of the productivity profit goes to the capital owners who now with Fed have risk subsidized.

 

Also, here is a classic....rob someone richer.

 

Fri, 10/12/2012 - 11:35 | 2881823 prains
prains's picture

Gully

 

i like your abrasive style and get a kick out of your posts but as a younger man in another life i read all of Nietzche's work and Will to Power

had some meat on the bone but IMHO I think you simplify the matter a bit too much. This disparity in wealth is more coordinated than a narcissistic pursuit of men in pursuit but then again I only swing a hammer to feed my family.

Fri, 10/12/2012 - 11:55 | 2881901 TruthInSunshine
TruthInSunshine's picture

Whisper rumor that The Bears are launching their own hedge fund, with a focus on precious metals. When asked why they are doing so at this time at a press conference, they refused to confirm or deny, but did add that if they were to do so, it would all boil down to "Global Fiat CTRL+P."

Fri, 10/12/2012 - 11:57 | 2881907 Gully Foyle
Gully Foyle's picture

prains

Dude, it takes about 100,000 hours of practice to become expert at something.

The majority of the GENPOP just don't have that type of commitment.

Same with dealing with wealth.

Damn near every lottery winner, and famous people who are thrust into the lifestyle unprepared, fall apart in some way shape or form. Lottery winners in particular fuck up big time.

I've read that the problem with most criminals is they prepare for the crime but not the aftermath. The Cocaine Cowboys documentary talks about how these Coke smugglers had som much money they buried it in the backyard in garbage bags.

Success resembles the Boy Scout motto of be prepared.

It isn't coordinated, it's the majority of people can barely manage their own lives. They program themselves for failure.

You are only seeing the stumbling blocks. Successful people see ways to avoid those blocks, or to take the least amount of damage.



Fri, 10/12/2012 - 12:11 | 2881972 exi1ed0ne
exi1ed0ne's picture

100,000 hours, at 8 hours a day is 34ish years, so I think you are exaggerating a tiny bit.  Besides, expert is another word for deluded sense of self importance.  All the best mentors I've ever had consider themselves eternal students, and will gladly learn from anyone that adds to their knowledge.

Fri, 10/12/2012 - 12:31 | 2882041 SilverDOG
SilverDOG's picture

exi1ed0ne,

 

You are speaking truth, to a high average of, shenanigan worshipping, semantic addicted.

Bravo.

Moderate your expectations. 

Fri, 10/12/2012 - 13:13 | 2882187 RSloane
RSloane's picture

Umm...how awesome is it that you type in bold and address the person you are typing to in blue. Did you forget to change accounts again?

Fri, 10/12/2012 - 14:17 | 2882380 BigJim
BigJim's picture

Nice catch!

Fri, 10/12/2012 - 13:23 | 2882215 Gully Foyle
Gully Foyle's picture

exi1ed0ne

You are correct I added a zero.

"Besides, expert is another word for deluded sense of self importance."

And that is ignorance.

 

Fri, 10/12/2012 - 16:49 | 2882974 SilverDOG
SilverDOG's picture

Gully Foyle,

Copy and paste apple macbook and thus it is as such. I do not care that it does.

Interesting your assumption based perception however. As people see in others what they are themselves.

Fri, 10/12/2012 - 12:22 | 2882013 XitSam
XitSam's picture

"Dude, it takes about 100,000 hours of practice to become expert at something."

Dude. 40 hours/week x 50 weeks/year = 2,000 hours per year

100,000 hours / 2,000 hours = 50

So at a reasonable pace, allowing for vacations and a family, someone that starts practicing a profession at age 20, can expect to become an expert at age 70.  Working weekends and evenings will reduce the age some of course.

Fri, 10/12/2012 - 12:48 | 2882105 FrankDrakman
FrankDrakman's picture

Gully just made a mistake. The original estimate was popularized in one of Malcolm Gladwell's books (Blink?), and it was 10,000 hours, not 100,000.

But what's an order of magnitude between friends?

Fri, 10/12/2012 - 13:18 | 2882202 jayman21
jayman21's picture

Outliers was the name of the book.  10,000 hours usually takes about 10 years if you are focused.  The example of the Beatles was used to describe the fast track, less than 10 years.

Fri, 10/12/2012 - 16:06 | 2882768 AldousHuxley
AldousHuxley's picture

100,000 hours to become expert at somethign IF YOU ARE NOT TALENTED.

 

 

Fri, 10/12/2012 - 13:25 | 2882219 Gully Foyle
Gully Foyle's picture

FrankDrakman

I added a zero.

But what does that make someone with 100k hours of training?

Consider the machinist who had worked the same machine everyday of his working life. How natural and smooth his rythm must be.


Fri, 10/12/2012 - 14:16 | 2882378 BigJim
BigJim's picture

100k hours of study/practice =/= 10k hours of study/practice * 10

It's called the law of diminishing returns.

Fri, 10/12/2012 - 14:34 | 2882440 FrankDrakman
FrankDrakman's picture

But what does that make someone with 100k hours of training?

Old.

Fri, 10/12/2012 - 17:37 | 2883124 Ident 7777 economy
Ident 7777 economy's picture

retired

Fri, 10/12/2012 - 12:51 | 2882118 Umh
Umh's picture

This is why being an expert at something is usually the result of an obsession or maybe sublimation. I don't know if it takes 100,000 hours to be an expert at some types of things, but I do know that if all you do is put in 8 hour days you will never become an expert in many fields.

Fri, 10/12/2012 - 13:01 | 2882152 U4 eee aaa
U4 eee aaa's picture

Finally, a schedule I am actually keeping pace with :)

Fri, 10/12/2012 - 14:46 | 2882488 notadouche
notadouche's picture

Dude I believe you added an extra zero, it should read 10,000 hours of practice if you believe Malcolm Gladwell.

Sat, 10/13/2012 - 02:34 | 2884070 prains
prains's picture

GULLY GULLY GULLY

 

sorry for my late reply but again you simplify your arguement to motive NOT method. 400 to 150 million is a discrepency that FAR exceeds motive of ambition etc  over method of manipulation. There simply are not 400 people so superior to 150 million people that they deserve the wealth in such huge separation from the many.THE DIVERGENCE IS TOO LARGE TO CLAIM SUPERIOR ECONOMIC/HEREDITARY GENIUS therfore it has to be methodically manufactured wealth discrepency. fuck its late

Fri, 10/12/2012 - 12:01 | 2881922 Bicycle Repairman
Bicycle Repairman's picture

But mostly they are born to it.  We're not talking about supermen here.

Fri, 10/12/2012 - 12:08 | 2881961 Gully Foyle
Gully Foyle's picture

Bicycle Repairman

No mostly they are not born to it.

Some are.

Some actually became successful through their own activities.

Did they capitalize on loopholes and cronyism? Certainly.

But so what?

Some people have those skills some don't.



Fri, 10/12/2012 - 12:43 | 2882082 Bicycle Repairman
Bicycle Repairman's picture

And sometimes it's luck.  And sometimes demographics help.

And yes they are mostly born to it.  America stopped being a meritocracy some time ago.  Our elite is largely an elite that inherited their position.  And the implications are not good for this society.

Fri, 10/12/2012 - 13:01 | 2882150 walküre
walküre's picture

Let's talk about skills.

The greatest inventions of all time were made by people who had great minds and a desire to create something new and different. They were driven pioneers that looked at a problem and found a solution. Most of these individuals are not remembered as the richest guy on the cemetery.

Today we are faced with a parasitic class of wealthy know nothings, unskilled and untalented idiots.

We are also still consuming oil and other commodities at a rapid pace, polluting the planet beyond repair and being taught to think in a good vs. evil, rich vs. poor, us vs. them one-dimensional spectrum.

Mankind could truly evolve beyond this SHIT and enjoy LIFE if it wasn't for the elite who measures itself in paper or electronic wealth and forces their way of thinking, their policies on everyone else. It's oppressive, it's regressive and it causing irreperable damages to the one and only planet we all have to share.

 

Fri, 10/12/2012 - 13:05 | 2882168 U4 eee aaa
U4 eee aaa's picture

"Today we are faced with a parasitic class of wealthy know nothings, unskilled and untalented idiots."

===============================

That's not true. They are highly skilled at forming groups and committees that are themselves skilled at building high barriers to entry

Fri, 10/12/2012 - 13:11 | 2882180 walküre
walküre's picture

So was the French Aristocracy in their final stage. Didn't help them much because they couldn't relate to the people. The disconnect is obvious in America.

Fri, 10/12/2012 - 13:34 | 2882232 Gully Foyle
Gully Foyle's picture

walküre

"Mankind could truly evolve beyond this SHIT and enjoy LIFE if it wasn't for the elite who measures itself in paper or electronic wealth and forces their way of thinking, their policies on everyone else. It's oppressive, it's regressive and it causing irreperable damages to the one and only planet we all have to share."

 

Prove that. That is conjecture based on the illusion of a morally superior human.

Fri, 10/12/2012 - 14:42 | 2882476 walküre
walküre's picture

Give it a chance and time. We've had thousands of years going the opposite way and ending on a path that is clearly not sustainable. I refuse to believe that the pinnacle of human evolution is FIAT, debt, spy drones and a world powered mostly by combustion engines. Makes no sense to keep going that direction with 7 billion people and pushing 9 billion by 2030.

Fri, 10/12/2012 - 15:46 | 2882684 Panafrican Funk...
Panafrican Funktron Robot's picture

I agree with what you're saying, Gully, but we then shouldn't be particularly surprised (or even dismayed) when the rich are inevitably eaten, regardless of arbitrary moral standing.  

Sun, 10/14/2012 - 10:14 | 2887110 Bicycle Repairman
Bicycle Repairman's picture

There are morally superior humans.  Unfortunately morality is an impediment when trying to get control of the pyramid.  So we are stuck with the Joe Biden's of this world.

Fri, 10/12/2012 - 15:58 | 2882733 Herd Redirectio...
Herd Redirection Committee's picture

And some people have something called morals, and empathy for their fellow man...

Sat, 10/13/2012 - 02:52 | 2884079 prains
prains's picture

Gully

 

"But so what" ????? are you not a capitalist??? does not the words  "fair" "honest" "exchange" mean anything to you, a capitalist?

Fri, 10/12/2012 - 12:50 | 2882115 NidStyles
NidStyles's picture

I read that book when I was 16, and it had nothing to do with what you are talking about. The Will to Power was a collection of notes, there was not a real book there. The notes however were mainly about self-empowerment and not relying on others.

Fri, 10/12/2012 - 13:28 | 2882234 Gully Foyle
Gully Foyle's picture

NidStyles

"The notes however were mainly about self-empowerment and not relying on others."

Where are all the Randians when you need them?

Fri, 10/12/2012 - 18:58 | 2883324 NidStyles
NidStyles's picture

Why don't you go ask one? If I were a Randian I would be able to tell you. Since I'm not and I'm able to stand on my own two feet, I can't tell you.

Fri, 10/12/2012 - 11:34 | 2881818 LoneCapitalist
LoneCapitalist's picture

Show me a society where everyone has the same and Ill show you a society where everyone has shit.

Fri, 10/12/2012 - 11:41 | 2881843 walküre
walküre's picture

Show me a society where EVERYONE has shit.

Just one example will do.

The 400 vs. the 150 million is a powerful statement. Nothing can harm the 400 as long as the 150 million are complacent and accept the alleged wealth these 400 call their own as legitimate.

debt = wealth

Odious debt = odious wealth

Fri, 10/12/2012 - 11:56 | 2881905 LetThemEatRand
LetThemEatRand's picture

It's classic black and white thinking.  Many ideologues here believe that any socialism equals communism equals totalitarianism.  So they run in this endless loop where they make statements that make no sense to those of us who are able to understand that the world is not about absolutes.  When we try to point out that there are actually ways to have both capitalism and socialism co-exist in a successful way (think Scandavia, for example), they call you names and repeat their platitudes and then up arrow each other.

Fri, 10/12/2012 - 12:03 | 2881931 Flakmeister
Flakmeister's picture

Manichean thinking gives simple answers to complex questions for shallow minds....

Fri, 10/12/2012 - 12:06 | 2881947 Gully Foyle
Gully Foyle's picture

Flakmeister

Twitter

Fri, 10/12/2012 - 12:05 | 2881945 Gully Foyle
Gully Foyle's picture

LetThemEatRand

True Dat.

Read about the "evil" dictator Chavez

https://nacla.org/blog/2012/10/8/hall-shame-venezuelan-elections-coverag...

 

To understand why Chávez’s electoral victory would be apparent beforehand, consider that from 1980 to 1998, Venezuela’s per capita GDP declined by 14%, whereas since 2004, after the Chávez administration gained control over the nation’s oil revenues, the country’s GDP growth per person has averaged 2.5% each year.

At the same time, income inequality was reduced to the lowest in Latin America, and a combination of widely shared growth and government programs cut poverty in half and reduced absolute poverty by 70%—and that’s before accounting for vastly expanded access to health, education, and housing.

However, the establishment media broadly anticipated that yesterday’s election would be a repudiation of the Chávez administration’s policies. Consider The Guardian headline, “Hugo Chávez: A Strongman's Last Stand,” for example. To be sure, if Chávez were to win, the press explained, it could be chalked up to a climate of fear and repression or voter suppression. Even with a tight victory, his now-anemic support would still augur the beginning of the end to a failed, 14-year experiment.

Chavez accepting results (courtesy AFP)

Inconveniently for this narrative, over 19 million people in a country of 29 million were registered to vote, and any supposed intimidation did not prevent a historic turnout of 81%. With 96% of the votes counted, the country’s National Electoral Council has shown that Chávez has thus far received 1.5 million more votes than Capriles. And the electoral system’s credentials are sterling—Jimmy Carter, who received a Nobel Peace Prize for his democracy-promotion work with the Carter Center after his presidency, commended the record of Venezuela’s voting process a month before the elections:

Although some people have criticized the result—which is Hugo Chavez having won—there’s no doubt in our mind, having monitored very closely the election process, that he won fairly and squarely. As a matter of fact, of the 92 elections that we’ve monitored, I would say that the election process in Venezuela is the best in the world. They have a very wonderful voting system…

This, apparently, wasn’t as newsworthy as the inane question of whether Venezuela is a dictatorship. A LexisNexis search for all English-language news containing the terms “Jimmy Carter” and “Venezuela” between September 11, when Carter made those comments, and October 7, returned 45 results. In that same time period, 78 news items mentioning both the terms “Hugo Chavez” and “dictator” appeared. (To be fair, some of the 78 pieces refuted the notion that Chávez is a dictator, but even these articles are a reflection of the pervasiveness of the nonsensical topic.)


Fri, 10/12/2012 - 12:37 | 2882061 fijisailor
fijisailor's picture

I work with a person from Venezuela who's family had a dairy and also made cheese and other dairy products.  Chavez mandated that they would only be able to charge X amount of money for their products which basicall forced them to close down and leave the country.  I think Chavez's version of socialism is not one to admire.  Scandanavia would be a more workable route. 

Fri, 10/12/2012 - 13:05 | 2882165 walküre
walküre's picture

Why were they forced to close down and leave? If it wasn't economical to produce at X price, they could have stopped producing. But then nobody else would produce either.

The example makes no sense.

Fri, 10/12/2012 - 13:26 | 2882222 fijisailor
fijisailor's picture

They were not forced to leave.  They chose to leave.  They were forced out of business by an uneconomical businees model forced on them by Chavez.  Sure others were forced out of business too.

Fri, 10/12/2012 - 13:30 | 2882244 Gully Foyle
Gully Foyle's picture

fijisailor

Wow, reminds me of all those Cubans who scampered away from Castro. You know the rich ones leading a revolution from the safety of FLA.

Of course now your friends can become victims and garner your sympathy.

Enough to post here right?


Fri, 10/12/2012 - 13:58 | 2882342 walküre
walküre's picture

Whatever.

How many Americans were forced out of business and forced out of their homes when the elite crashed the system and sucked every penny out? How many Americans suffered all the while the elite wrote themselves one paycheque bigger than the last with money out of thin air?

Who cares about one dairy farmer in Venezuela. The people there didn't stop drinking milk as a result.

Fri, 10/12/2012 - 14:33 | 2882436 BigJim
BigJim's picture

 How many Americans suffered all the while the elite wrote themselves one paycheque bigger than the last with money out of thin air?

Ironically, this is the result of one of the few actual instances of socialism in the US - the government control of the monetary system, whereby they have arrogated money creation to the State and then farmed out the rights to a crony cartel rather than allowing the free market to determine the supply of money and credit.

You people keep touting Scandanavia as a successful example of 'socialism' without realising that those countries are not especially socialist. Socialism is the government directly owning the means of production. Look it up. Scandanavia has, on average, higher wealth redistribution via the tax system, that's all. That isn't socialism.

A much better example of succesful 'socialism' is Saudi Arabia... but you guys never mention them as your poster-boys, for some reason.

 Who cares about one dairy farmer in Venezuela. The people there didn't stop drinking milk as a result. 

No, they were just forced to pay higher prices for it on the black market when government suppression of prices caused a scarcity of milk at the 'correct' price.

 http://www.nytimes.com/2012/04/21/world/americas/venezuela-faces-shortages-in-grocery-staples.html?pagewanted=all 

learn some economics. You'll find it useful in discussions about economics. 

Fri, 10/12/2012 - 15:00 | 2882543 walküre
walküre's picture

I don't hear anyone here actually making a case for "socialism" as a state form. Whatever it is that Sweden is doing, it seems to work. Again, there are many countries that make up "Scandinavia" and not all have the same set of policies.

You're programmed to rip apart everything that has a touch of "socialist" think behind it. That's your good American state funded education system "at work". Your tax dollars "at work" to protect the status quo. The status quo which benefifts the American elite.

Venezuelans voted for Chavez in large numbers despite a coaltion candidate of all opposing parties. Chavez closed the door on all American intervention, thus American imperialism in Venezuela. Of course he's still selling oil to the Gringos. He would be stupid not to take advantage of America's thirst for oil. But he made sure his country is getting a bigger share of the pie and his people are benefiting broadly. Could Venezuela end up like Norway? You bet it could.

Don't tell me to read up on "economics". I don't want to be called an "economist". God forbid, that would put me in the camp of the likes of Mario Draghi or Ben Bernanke. Twisting the rules to their own advantage, writing some nonsensical bullshit to bamboozle the masses with fancy lingo and making sure that everyone "gets" it but nobody has a clue about anything until the corpse is picked to the bone. Truly Shysters.

Instead I recommend you read up on what imperialism is. How the reserve currency status was created and how it allows one country to live above her means and have more wealth than any other country. Then read up on how private banking works and you'll understand why 99% of the wealth of this country is in the hands of 1% of the people.

Isn't that typically the bogus reason why Americans are going to war in shitholes like Iraq? Because one small group of the population owns pretty much all the assets? Isn't that the idea of bringing freedom to the rest of the world?

The US is done, amigo and so is your way of thinking Big Jim.

Fri, 10/12/2012 - 21:50 | 2883759 BigJim
BigJim's picture

LOL, I point out you people are using the word 'socialist' wrongly & suddenly I'm a product of US state education and need lessons on the hideousness of empire & the petrodollar? Assumption much?

Reading up on economics won't turn you into Bernanke, I promise. It might enable you to see the link between government price controls and scarcity, however.

Sweden, by the way, was one of the poorest countries in Europe until it adopted laissez-faire policies in the late 19th C and it rapidly rose up the league tables. They only started instituting 'socialism' (as you like to call it) in the sixties and, as usual, once the perverse incentives started working their magic, Sweden started dropping in the league tables. They had a major recession in the '90s, at which point they dropped much of their 'socialism'.

As for their doing things right - has it occurred to you that not being involved in WWI and WWII may have had a rather large influence of how well off they are? When the rest of the world is destroying huge amounts of capital, it's not too hard to look good. 

Fri, 10/12/2012 - 14:34 | 2882437 BigJim
BigJim's picture

.

Fri, 10/12/2012 - 13:14 | 2882184 TWSceptic
TWSceptic's picture

It's a leftist lie that Scandinavia benefits from socialism. It never did and it never will. Their high standard of living is a result of a relatively free market and the natural resources that are allowed to be extracted (something the left wants to ban).

The only reason that socialism *seems* to help in those countries is because of capitalism that pays for them. They don't actually increase the standard of living or reduce poverty.

Fri, 10/12/2012 - 13:28 | 2882236 walküre
walküre's picture

Scandinavia is not one single entity. Norway is doing great as probably the richest nation on the planet PER capita. Finland is not in bad shape either. Sweden has embraced the welfare state BUT Sweden's efforts are being undermined by IMMIGRATION and multiculturalism which is destroying the foundation of the country.

Which group is constantly telling the world that multiculturalism is such a good thing? Which group created 2 wars in order to establish a UN, the IMF and eventually the NWO?

 

Fri, 10/12/2012 - 13:33 | 2882253 Gully Foyle
Gully Foyle's picture

walküre

I watched this Finnish movie. Once upon a time in Lapland.

The plot revolved around this unemployed guy who's GF gives him an ultimatum, get a digital cable box or she leaves him.

Here is the thing at no point does it ever occur to anyone involved to steal the box.

The guy works his ass off all night for the money to buy one. He won't even accept charity.

Imagine is this were made in the US?

Fri, 10/12/2012 - 13:45 | 2882294 walküre
walküre's picture

You watched a movie, "learned" something from that movie and associate that to have cultural relevance to the US? I'm not dissing your comment but is that how your world view is shaped?

 

Fri, 10/12/2012 - 17:00 | 2883022 MisterMousePotato
MisterMousePotato's picture

Well, I have to agree that one must approach popular media and fiction with a certain skepticism.  Nonetheless, the point is valid.  For example, consider Wilkie Collins' "Moonstone," published in 1850 something (1854?). Thereabouts.  The very first English detective novel, I think.

Anyway, at the end of the book, the protagonist and his companion were puzzling over how to find out who had stolen a particular jewel (the 'Moonstone').  When his companion suggested that they go to where it had been secreted, and wait and watch to see who came to recover it (which is, of the course, the very first thing that would pop into any of our minds without thinking), the protagonist was horrified, exclaiming, "Gentlemen do not spy on other gentlemen."

Obviously, whether or not this vignette fairly represents the reality of that time, nevertheless, it certainly reflects a paradigm shift in the ideal.

Dress Grey by Lucian Truscott (sp?) also reflected fundamental differences in core beliefs and ideals between us and the military ("officers do not lie").  Again, whether that reflects reality or just an ideal, entirely disregarded by all, or adhered to most ... who knows? 

Fri, 10/12/2012 - 13:35 | 2882263 fijisailor
fijisailor's picture

You seem to have a warped view of how those countries work.  They are democratic socialist countries.  Sure they have high taxes but they have a basic minimum standard of living which they adhere to and sure it is hard on capitalists.  The key here is that they choose their system and like it and they apparently have policies that do make economic sense as opposed to what Venezuela is doing along the lines of Cuba.

Fri, 10/12/2012 - 13:54 | 2882325 walküre
walküre's picture

No warped view whatsoever. You admit "they choose" their system. Americans never had that choice and Americans aren't taught to think free and outside of the box. Americans are programmed to think one dimensional and accept every bullshit on every channel as truth. Americans are kept quiet because their oligarchy has established a world reserve currency which allows America to exploit resources, talents and innovation from the rest of the world. The reserve currency is backed by oil which is controlled by the US military.

That is why America is the "richest" nation on the face of the Earth. That is why America can afford to bail out the elite, pay its military and feed half the population on SNAP. Nice gig for the US but in the long run it's of course not sustainable and the elite will do whatever it takes to maintain their wealth. Even if that means leaving the US for another construct and putting millions of Americans into mass poverty.

The 400 will never starve. They just move-on. Sucks for the 150 million though and many more millions who didn't understand how they were just part of the game the 400 had going for themselves.

Fri, 10/12/2012 - 13:08 | 2882175 walküre
walküre's picture

Oil and gas should be nationalised. It's a no brainer. Every country that has a national oil and gas industry is thriving UNTIL the cabal comes and try and start their central bank to control the oil production.

The cabal couldn't afford to control any of it unless they are able to print themselves rich into oblivion. Their FIAT money is the root of the problem.

Sat, 10/13/2012 - 03:11 | 2884096 prains
prains's picture

winner take ALL is NOT a solution

Sat, 10/13/2012 - 03:11 | 2884097 Offthebeach
Offthebeach's picture

Sweden is about the same population and wealth as Fairfield County, Connecticut. So basically, all of Scandinavia is 2+ upper New England counties.

Maybe we should all live in ocean front houses too.

Outlier cherry picking off.

Fri, 10/12/2012 - 12:33 | 2882048 SilverDOG
SilverDOG's picture

Research non-christian Mayan history. 

Fri, 10/12/2012 - 11:38 | 2881830 AnAnonymous
AnAnonymous's picture

and lazy is not an answer
___________________

What about sloth?

Signed: an American.

Fri, 10/12/2012 - 11:45 | 2881860 pods
pods's picture

You eat sloth too?

pods

Fri, 10/12/2012 - 11:51 | 2881882 toady
toady's picture

Delicious

Fri, 10/12/2012 - 13:11 | 2882179 U4 eee aaa
U4 eee aaa's picture

Doesn't eating sloth give you constipation?

Fri, 10/12/2012 - 15:55 | 2882716 Just Ice
Just Ice's picture

saves roadsides

 

Sat, 10/13/2012 - 03:03 | 2884091 prains
prains's picture

AnAnAnalogousAnus

 

deep page lurking since akak tore yoo a new one, what up? not gonna catch much trollin at this depth

Fri, 10/12/2012 - 11:49 | 2881874 toady
toady's picture

I saw a sloth at the zoo on Tuesday.

Fri, 10/12/2012 - 11:58 | 2881912 forexskin
forexskin's picture

citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm citizenizm

troll

Sat, 10/13/2012 - 21:27 | 2885949 Cathartes Aura
Cathartes Aura's picture

u mad bro?

Fri, 10/12/2012 - 12:50 | 2882111 EvlTheCat
EvlTheCat's picture

What about envy?

Signed: AnAnonymous

Fri, 10/12/2012 - 12:24 | 2882019 MrBoompi
MrBoompi's picture

In years past the castles could be stormed and the loot retaken, whereas these days the loot consists of nothing more than electrons on hard drives in some undislosed location.

 

 

Fri, 10/12/2012 - 15:38 | 2882659 snakeboat
snakeboat's picture

Let's just name the 400 here so we can dig through the how/why/when of their fortune-making.  I'm betting the majority are dynastic family types with assets all held in offshore and tax-sheltered structures...

Fri, 10/12/2012 - 11:11 | 2881746 resurger
resurger's picture

how many carbon credits you own?!

Fri, 10/12/2012 - 11:25 | 2881788 55 men
55 men's picture

The same amount in facebook stock. 

Fri, 10/12/2012 - 11:14 | 2881757 Dr. Engali
Dr. Engali's picture

I'm doing my very best to make sure the climate never ever changes but I just can't seem to get past that breathing thingy.....every time I hold my breath I pass out and wouldn't you know it...out comes some CO2.  I'll try again shortly.

Fri, 10/12/2012 - 11:22 | 2881778 Gully Foyle
Gully Foyle's picture

Dr. Engali

I have invented the Johnny Green Carbon Neutral Earth savings Bubble.

The bubble is a seamless enclosed bag shaped affair with companion cable ties for attachment.

Simply place the bubble over your head. Attach it at the neck.

The rest takes care of itself.

You optimally wish to use this in some remote area where you can then return to your natural state in peace and quiet.

If you hold a seedling in your lap while using the device you actually give back to Mother Nature.

I'm selling them for merely $199.99.

Cash only no refunds.



Fri, 10/12/2012 - 11:23 | 2881783 Ralph Spoilsport
Ralph Spoilsport's picture

Can you adapt one for methane?

Fri, 10/12/2012 - 12:09 | 2881964 Gully Foyle
Gully Foyle's picture

Ralph Spoilsport

You exhale Methane?

Fri, 10/12/2012 - 12:51 | 2882116 FrankDrakman
FrankDrakman's picture

most a-holes do.

Sat, 10/13/2012 - 02:44 | 2884073 prains
prains's picture

Gully

 

you gotta admit that was good

Fri, 10/12/2012 - 11:59 | 2881920 forexskin
forexskin's picture

you first

Fri, 10/12/2012 - 11:16 | 2881762 DoChenRollingBearing
DoChenRollingBearing's picture

@ MDB

"global warning."  LOL!

Fri, 10/12/2012 - 11:40 | 2881836 Zadok
Zadok's picture

SBD?

Fri, 10/12/2012 - 11:37 | 2881827 Flakmeister
Flakmeister's picture

MDB,

You really can do better than this...

Fri, 10/12/2012 - 11:40 | 2881842 oddball
oddball's picture

"Free phones over here!"

Fri, 10/12/2012 - 11:44 | 2881856 iinthesky
iinthesky's picture

I want to lodge a formal complaint before the United Nations human rights comittee because I believe I am a victim of people's ignorance of the dangerses of global warmings. I cannot find a job because I am doing my part fighting the global warmings. I have not taken a bath in months. I have saved so enough water for 5 people's rations. I try not to breathe too much. What thanks do I get? Discrimindation. This is an outrage. U people who deny global warmings R dangerous and should be exterminated for the sake of saving the earth.

Fri, 10/12/2012 - 12:19 | 2882000 gaoptimize
gaoptimize's picture

Whether you are using sarcasm or not, does not excuse your ignorance and hubris regarding this issue.  Every member of western industrialized countries needs to read this article: http://www.americanthinker.com/2009/01/co2_fairytales_in_global_warmi.html and pray that global warming starts before it is too late.

Fri, 10/12/2012 - 13:07 | 2882173 falak pema
falak pema's picture

so american thinker has scientific proof of the CO2 evolution downwards over 300 million years...

Fri, 10/12/2012 - 12:34 | 2882051 ATM
ATM's picture

yet the models can't predict the future climate, and can't predict current observed changes to climate. go figure!

 

go die you paid troll.

Fri, 10/12/2012 - 13:06 | 2882162 hooligan2009
hooligan2009's picture

Re third sentence; I thought ZH had been issuing a global warning about the central bank liquidity for a long time. c levels are rising everywhere - I think the bears are getting bi-polar and dyxslesic. Friday fun over.

Fri, 10/12/2012 - 13:43 | 2882288 css1971
css1971's picture

Eh? isn't this the wrong thread?

Fri, 10/12/2012 - 15:05 | 2882562 Shevva
Shevva's picture

The Antarctic, now give me my candy because I scared you.

Fri, 10/12/2012 - 11:16 | 2881764 Stock Tips Inve...
Stock Tips Investment's picture

It seems very good!. However, I think any small investor can also benefit from Fed policy. Volatility has been low and the trend clearer. A good portfolio to follow the market trend and go. Closely monitor your stocks and rotate properly. The money will come faster than you think. And if all else fails, you move sideways market and reap even more money.

Fri, 10/12/2012 - 12:52 | 2882120 Virginian
Virginian's picture

The Bears truly deserve the perptual Nobel Prize for Economics.  My 8-year-old duaghter and 80-year-old dad have both had their economic literacy increased ten-fold by watching these loveable little truth-tellers.

Fri, 10/12/2012 - 10:57 | 2881692 Cognitive Dissonance
Cognitive Dissonance's picture

With a cozy set up like this (the rich get richer) why would they possibly cede their inherent advantage now?

Time to double down on the mind control because the citizen slaves are getting restless.

Fri, 10/12/2012 - 11:50 | 2881878 walküre
walküre's picture

2x DWTS, 2x AI, 2x NASCAR and 2x NFL??

That's like the re-invention of the double patty burger!!!

That'll keep 'em happy for a bit longer.

Fri, 10/12/2012 - 10:58 | 2881697 Neethgie
Neethgie's picture

Funk you buffay!

Fri, 10/12/2012 - 11:06 | 2881735 Bay of Pigs
Bay of Pigs's picture

Head on down to the Chuckwagon and have the Warren Buffay...

LOL

Fri, 10/12/2012 - 11:12 | 2881747 flacon
flacon's picture

I think I (Charlie) MUNGERED in my pants again! Eeww...

Fri, 10/12/2012 - 11:01 | 2881710 Village Smithy
Village Smithy's picture

Maybe the Bears could get a Saturday morning spot on television and we could begin the process of educating America.

Fri, 10/12/2012 - 11:03 | 2881716 shushup
shushup's picture

The Bears Get It - as usual.

Fri, 10/12/2012 - 11:04 | 2881717 resurger
resurger's picture

"Suck it In"

 

Fri, 10/12/2012 - 11:04 | 2881718 SmoothCoolSmoke
SmoothCoolSmoke's picture

The Bears!  Love 'em.

Fri, 10/12/2012 - 11:04 | 2881721 jekyll island
jekyll island's picture

Stacking gold and silver is the anti-Bernank. It's hard to say it, but putting some money in stock market will be a good idea, until it isn't.

Fri, 10/12/2012 - 11:05 | 2881728 Meatballs
Meatballs's picture

Love the Bears!

 

Fri, 10/12/2012 - 11:05 | 2881729 Tsunami Wave
Tsunami Wave's picture

I'd like to see the silver bears come back..

Fri, 10/12/2012 - 11:09 | 2881733 Dr. Engali
Dr. Engali's picture

It amazes me how many people buy into the folksy grandfatherly image that Buffet puts out there. It's like that phoney family man image the media put out for Tiger Woods. The sheeple bought it hook line and sinker, and bought his stuff( thanks Joe) too. All they believe is what the television tells them to believe, any research beyond that is too difficult for the pleebs.

Fri, 10/12/2012 - 11:17 | 2881765 hapless
hapless's picture

Boofay is like one of those creepy, small town department-store Santas who all the locals "love", but sooner or later is caught with a hard drive full of kiddie porn.

Fri, 10/12/2012 - 13:17 | 2882198 RSloane
RSloane's picture

Becky Queef would be very angry with you.

Fri, 10/12/2012 - 11:10 | 2881741 Hedgetard55
Hedgetard55's picture

This video will be evidence at Ben's trial.

Fri, 10/12/2012 - 11:24 | 2881784 Ignatius J Reilly
Ignatius J Reilly's picture

in my dreamworld this happens.  Meanwhile in reality.....will never happen.

Fri, 10/12/2012 - 11:10 | 2881742 spanish inquisition
spanish inquisition's picture

Nice touch at  4:42 where the Bernank give the bears a "fist bump".hehe

Fri, 10/12/2012 - 11:12 | 2881751 hawk nation
hawk nation's picture

Bernache and his bunch will not find a hole deep enough to hide in in the near future

Fri, 10/12/2012 - 11:32 | 2881813 Zadok
Zadok's picture

Rev. 6:15

Fri, 10/12/2012 - 11:19 | 2881768 Shizzmoney
Shizzmoney's picture

Share buybacks also reaccelerated in the 2nd quarter, coinciding with the first sense that business growth was starting to slow down. This should not be surprising - executives get paid and bonused based on many factors, profitability measures being chief among them. And so when organic profit becomes harder to come by, you see buybacks stepped up to take the pressure off. Eighty companies in the S&P 500 have reduced their outstanding shares by 4% or more through buybacks so far this year, according to S&P.

One other thing - executives use buybacks to offset compensation, they issue themselves shares or options, and then get the board to approve a stock buyback to counter the effect of dilution. If you're asking yourself "wait, so buybacks can be used as a tool to transfer shareholder money to the executives?" then you've got it figured out, that's exactly what they can be used for. And they often are.

No one should be surprised that cash-rich corporations (and their executives) are being risk-averse or thinking about short-term profit-boosting and self-gratification.

Corporations are people, too, remember?

http://www.thereformedbroker.com/2012/10/12/the-buyback-epidemic/

Fri, 10/12/2012 - 11:21 | 2881773 fuu
fuu's picture

OT: User profiles leading to a 500 internal server error for anyone else?

Fri, 10/12/2012 - 11:28 | 2881789 Ralph Spoilsport
Ralph Spoilsport's picture

I'm getting a blank page fuu. This started acting up after Drudge Report linked to an article here yesterday.

Fri, 10/12/2012 - 11:28 | 2881796 resurger
resurger's picture

i confirm that

Fri, 10/12/2012 - 11:49 | 2881852 fuu
fuu's picture

Thanks Sac!

It appears to be working now.

Fri, 10/12/2012 - 11:50 | 2881881 Ralph Spoilsport
Ralph Spoilsport's picture

Confirmed. Thanks Sacrilige.

Fri, 10/12/2012 - 11:26 | 2881791 resurger
resurger's picture

"But what's it all worth, can't take it when you under this Earth
Rich men died and tried, but none of it worked"

Nasser Jones - Nas is like.

Fri, 10/12/2012 - 12:34 | 2881795 larz
larz's picture

Bernanke's job should be very temporary as well as the oriface of omaha's wealth

 

 

Fri, 10/12/2012 - 11:29 | 2881801 brown_hornet
brown_hornet's picture

I love the Bears. But of course, I'm from the Chicago area.

Fri, 10/12/2012 - 11:31 | 2881811 OutLookingIn
OutLookingIn's picture

Same old. Same old.

It will continue.

There are no consequences to their actions. All have "Get out of Jail" cards.

Nothing will change. Expect that. You will not be disapointed.

The muggings and beatings will continue until moral improves!  

Fri, 10/12/2012 - 11:40 | 2881832 Flakmeister
Flakmeister's picture

One quibble...

The fact that US oil demand is weak means nothing...  It is now a global market where the US no longer drives the fundamentals... So while QE has played a role in the oil price, it is not the only or driving factor...

Fri, 10/12/2012 - 11:42 | 2881840 Michelle
Michelle's picture

CEO salaries have increased from 40x average employee salary to over 400x while at the same time employer-sponsored defined benefit plans have gone by way of the dinosaur and health care benefits not following far behind. American workers are just getting poorer and can't save or build assets any longer, while CEO's and shareholders (wealthy) get rich off the backs of the working poor.

How better off would employees be if these CEO's would be willing to take a pay-cut and the shareholders accept making less in share price appreciation and dividends so that these companies could fund retirement and health care plans and increase the standard of living for many of their employees? Oh, I forgot, that's un-American....but remember, the poor shall inherit the earth because that's all that's left!

 

Fri, 10/12/2012 - 14:15 | 2882369 walküre
walküre's picture

Nevermind a pay cut.

Who needs the CEO? Most companies run better without the execs. It would do wonders to the bottom line as well. Shareholders approve.

Fri, 10/12/2012 - 11:48 | 2881864 topshelfstuff
topshelfstuff's picture

And the one thing I have never understood, and why this is never mentioned, especially now while talking about Social Security, and how long it will last w/o having to raise the age and/or lower payments.

Yet, more than half the wages do NOT pay into it....and its those who can most afford to pay it and not cause any change in their Standard of Living. I'm talking about the CAP....this,a toatl of 12.4% that esacped being paid in for all thse years, Example, lets say a person had wages of $2 million in 2008, $1,889,900 did not have the 6.2% of FICA taken from their pay and no match by employer:


"Regular" employees (most wage-earners)

For 2008, the employee's share of the Social Security portion of the tax is 6.2% of gross compensation up to a limit of $102,000 of compensation (resulting in a maximum of $6,324.00 in tax). For 2009 and 2010, the employee's share is 6.2% of gross compensation up to a limit of $106,800 of compensation (resulting in a maximum Social Security tax of $6,621.60).   This limit, known as the Social Security Wage Base, goes up each year based on average national wages and, in general, at a faster rate than the Consumer Price Index (CPI-U). For the calendar years of 2011 and 2012, the employee's share has been temporarily reduced to 4.2% of gross compensation, with a limit of $106,800 for 2011 and $110,100 for 2012.   The employee's share of the Medicare portion is 1.45% of wages, with no limit on the amount of wage subject to the Medicare tax

The employer is also liable for 6.2% Social Security and 1.45% Medicare taxes, making the total Social Security tax 12.4% of wages, and the total Medicare tax 2.9%.

Exempted government employees

A number of state and local employers and their employees in the states of Alaska, California, Colorado, Illinois, Louisiana, Maine, Massachusetts, Nevada, Ohio and Texas are currently exempt from paying the Social Security portion of FICA taxes. They provide alternative retirement and pension plans to their employees. FICA initially did not apply to state and local governments, which were later given the option of participating. Over time, most have elected to participate but a substantial number remain outside the system.

 

The aggregate income distribution is highly concentrated towards the top, with the top 6.37% earning roughly one third of all income

 

Households in the top 1% experienced the by far greatest increases in household income. According to economist Janet Yellen "the growth [in real income] was heavily concentrated at the very tip of the top, that is, the top 1 percent.

 

Overall the income of the 95th percentile grew 15.2% faster than that of the 80th, 146.8% faster than that of the median and 159.9% faster than that of the 20th percentile

 

Fri, 10/12/2012 - 11:48 | 2881870 LongSoupLine
LongSoupLine's picture

I didn't know the Bernank could do the robot...I'm now a fan.

Fri, 10/12/2012 - 11:57 | 2881899 Jack Burton
Jack Burton's picture

A nice video which sums it up pretty well. Though I think they failed to mention the elderly who are usually savers who seek to gain some interest income on their life's savings. Bernanke has indeed stolen that money to the tune of hundreds of billions of dollars and that cash stays in the hands of bankers and other who hold the old folks savings. Simply another crime by the born criminal Bernanke and the mafia he serves.

Given that the rich and the higher income earners are getting all the income gains for decades, even in times of fiscal and economic crisis, makes me wonder why so many tears are shed on ZH for the elites. To read many posters, you would think the rich are being taxed out of America. This is not the case, their % of taxes is at a half century LOW. And capital gains are much. much lower than anyone working for salary. Indeed, it is beyond debate that America's rich are in a new golden age. Or gilded age as some care to call it.

To be blunt, I would like to hear from those who worry that the rich are getting a bad deal, under either republican or democratic rule. If they are being screwed, then why does their % of income increase and increase. While the middle class is shrinking, small business is beaten to death by big corporate interests and their political allies and the poor are just "in the shit"??

I await a good argument to show me where my above post is mistaken. Make YOUR case for the American elites being victims of Obama, the 47% and us middle class wage slaves.

Fri, 10/12/2012 - 13:41 | 2882277 RSloane
RSloane's picture

This is ZH, what the hell are you talking about? I don't recall having read posts that view the rich as victims, let alone shed tears for them.

Fri, 10/12/2012 - 15:14 | 2882593 Jack Burton
Jack Burton's picture

The arrows tell the story, anyone doesn't support the notion that America screws the rich and is trying to drive them out and the Negative arrows mount.

Fri, 10/12/2012 - 16:41 | 2882942 fuu
fuu's picture

You're at -1, drama queen.

Fri, 10/12/2012 - 12:01 | 2881923 kahunabear
kahunabear's picture

The fed has not been mentioned once in the debates. Ignorance is bliss.

Fri, 10/12/2012 - 12:05 | 2881941 Jack Burton
Jack Burton's picture

Great point kahunabear! We know it is not mentioned because both parties are 100% in support of the Fed and the interests the Fed serves. If America truely had an opposition party of any sort, somebody would be raisning hell about the Fed's war on workers, retirees and small businesses. Who wins when the Fed acts? Stock holders like Buffet and all the financial leeches in the banks.

Two parties in a ONE party state. What a joke. Hey folks, get all worked about about gays and abortion, while the Powers That Be steal you fucking blind!!!!!!!!!   Bloody idiots!

Sat, 10/13/2012 - 21:41 | 2885959 Cathartes Aura
Cathartes Aura's picture

while I can understand how you might not consider "abortion" something to "get all worked up about" in preference to monies, earned, taxed, or otherwise. . . some females put a great value on keeping the .gov out of the business of constitutional amendments that deny them a right to make choices about their own body.

some of the "abortion" arguments are about monies & insurance, etc.   and some are about the actual right to make a choice without .gov intervention.

Fri, 10/12/2012 - 12:06 | 2881951 Bawneee Fwank
Bawneee Fwank's picture

Eat shwit Wahunabwear!!!  How ware woo! How fwucking ware WOO wention this fwact!  The wittle man weeds the fwed!

Sat, 10/13/2012 - 02:46 | 2884075 prains
prains's picture

dude i think you ate a turd you might want to brush your teeth

Fri, 10/12/2012 - 12:50 | 2882112 sdmjake
sdmjake's picture

Ron Paul wasn't co-opted in the election process because of his views on abortion....

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