This page has been archived and commenting is disabled.

Sam Zell: Tom Perkins Was Right, Top 1% "Pummeled" For Political Convenience

Tyler Durden's picture




 

"Markets were over-priced coming into 2014," warns Sam Zell (noting that he does not believe in the Fed's wealth effect perspective on market-growth helping buying and selling decisions in the real economy), but while he sees a benign outlook for residential real estate, among his biggest concerns are "half-assed" Obamacare's "deleterious effect on the USA" and its "need to be radically changed." Supportive of Carl Icahn and his 'capitalist activism', Zell adds rather frankly that he believes Tom Perkins was correct about the "the 1%... for political convenience," and reminds Bloomberg TV's Betty Liu that "the politics of envy, the politics of class warfare are what has separated America from many parts of the rest of the world," until now.

 

On Activisim:

ZELL: Well, the answer is I think activism is very right and very important in a capitalistic system.

 

LIU: Just quickly though, Sam, do we have that photo up of Carl Icahn – Carl Icahn on the cover of Time magazine? You and I talked about your relationship. You’ve dealt – you’ve been on opposite sides with Carl before. Master of the universe now. He’s made this comeback at this age, Sam. What do you think about this?

 

ZELL: Well I don’t think the word comeback is an accurate description. Carl is a force. Carl has been right. Carl has been right and committed to being right. If I had a hat, I would take it off to him. And I think America is dramatically better off for people like Carl.

On Obamacare:

LIU: In Washington, the Congressional Budget Office released some startling new numbers about the president’s healthcare plan that’s sure to fuel more of this partisan wrangling in Washington, including this nugget, that in two years Obamacare is going to affect workers by prompting them to put in less hours in order to keep their federally subsidized healthcare benefits, costing an equivalent of about 2 million jobs according to the CBO.

 

Well Sam Zell stays with us throughout the hour, someone who is very involved in both local and national politics. And Sam, what do you make of this number, 2 million jobs?

 

ZELL: Well, I think the issue is not 2 million jobs. I think the issue is what is the contribution to the GDP of – or lack of contribution of 2 million people not working. We both know lots of people who have kept their jobs because they couldn’t afford to lose their healthcare. Now they can access healthcare from exchanges, and all of a sudden keeping a job isn’t as relevant as it was before.

 

LIU: But Sam, is that a small price to pay as a country for giving everybody healthcare?

 

ZELL: I think the best comment of all goes to Nancy Pelosi. We have to pass this bill to find out what’s in it. This is only the latest example of hundreds and hundreds of mistakes that were made in the preparation of this bill.

 

LIU: But do you think it should be repealed?

 

ZELL: I think that the current form of Obamacare I think is deleterious to our country and needs to be radically changed. The word repeal, I don’t know what that word means. I think healthcare is an important issue. I think the question is how do you go about it. We went about this half-assed.

 

LIU: But it – well, but however, the cat’s out of the bag and we have to figure out what to do now with the consequences. One of the things though that – that – that seems to be observed now in Washington as we’re – as we’re working through healthcare is that maybe, according to someone like Walter Isaacson who we had on this program, maybe the fever is breaking in Washington Maybe this may be a year where the two sides come together. Do you feel that way at all, Sam?

 

ZELL: I don’t know what he’s been smoking because nothing I read suggests that. They made a couple of deals on a couple of simple things, but talk to me about immigration. Talk to me about healthcare. Talk to me about foreign policy. There’s so many issues where there’s just this extraordinary disparity between the parties and very little interest in compromise.

On Markets:

LIU: I want to bring back Sam Zell, who’s been standing by. Sam, you think the – you thought the markets were overpriced, right, going into 2014.

 

ZELL: I did.
 
LIU: Why’d you think that?
 
ZELL: Well I think the economic activity did not correlate to the price of the stock market. Stock market was up 25 or – I don’t remember how much it was up last year.
 
LIU: Like 30 percent.
 
ZELL: Thirty percent. I (inaudible) companies. We didn’t see any – any Kumbaya happening. So from our perspective it’s a function of too much liquidity.
 
LIU: So do you feel that this is pretty healthy then to see this – to see this kind of decline?
 
ZELL: I don’t think declines are ever healthy, but balance is what keeps us in place. And when we get out of balance like subprime loans or whatever, it’s pretty disastrous. So the market has to keep balancing back and forth as consecutive (ph) currents are relevant. And I think the market in 2014 is a lot more likely to reflect what happened in 2014 than whether or not it was up or down in January.
 
LIU: But does it make you nervous at all, Sam? I know not much makes you nervous at all, but – but seeing how volatile these markets have been over the last few weeks, does it make you more nervous that Americans are going to look at this and pull back and perhaps they may not be buying as much anymore? They may not be selling as – as many houses or buying as many houses.
 
ZELL: The market went up 30 percent last year. Did the American people buy everything in sight? No. So what’s the relevance now? I don’t think the market has a dramatic impact on buying and selling decisions unless it’s such a prolonged period like we had in ‘08 and ‘09 that it really dampens everything.

On Inequality, Government Complexity, and Persecution of the 1%:

LIU: Let me ask you about Tom Perkins because you are part of the 1 percent. You are clearly part of the 1 percent. Tom Perkins came out with this – with this letter where he defended the 1 percent and he said, look, we are being persecuted the same as the – as the Nazis were persecuting the Jews. And he was just lambasted and he came on our network and defended it. How did you feel when you read that letter and when you heard his comments?
 
ZELL: I guess my feeling is that he’s right. The 1 percent are being pummeled because it’s politically convenient to do so. The problem is that the world and this country should not talk about envy of the 1 percent. It should talk about emulating the 1 percent. The 1 percent work harder. The 1 percent are much bigger factors in all forms of our society.
 
LIU: But Sam, tell that – tell that to the person who’s on minimum wage who’s living below the poverty line that they should try to emulate the 1 percent. How are they going to get there?
 
ZELL: The stories are rampant of people who started with a candy store and took it from there. There are lots of people who have the ambition and have the motivation and have succeed. Lots of people have come from nowhere and become part of the 1 percent.
 
LIU: But do you feel because you’re rich that you’re being persecuted?
 
ZELL: The word persecution is not the right word.
 
LIU: Okay. You’re being picked on.
 
ZELL: I think that the politics of envy, the politics of class warfare are what has separated America from many parts of the rest of the world. And we have benefited dramatically from not having class warfare, from not having envy. William Jennings Bryan in 1896 was the first person to run publicly in the United States on a platform of class warfare. He lost. And wisdom at the time said this is not America, and I think it still is not America.
 
LIU: Do you think though that there needs to be some help though or that – that there needs to be policy changes or something needs to be done about the growing income – income inequality, the growing gap? Do you think there needs to be something done with that?
 
ZELL: I think that that is a function of policies and I think that overall the policies that we passed for the last 50 years, whether it be unfunded Social Security or other issues, have all contributed to this disparity. And we need to fix our government. We don’t need 17,000 new pages of federal regulations in the last five years. So I think all of those things contribute to this disparity. And the more complicated our government makes our world, the more the 1 percent can afford to hire somebody to figure it out and the other guy can’t. But if you simplify government, neither one of them require (ph). And therefore the disparity slows down.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 02/05/2014 - 18:40 | 4405810 OH10DESERTER
OH10DESERTER's picture

Has anyone asked Mr. Zell how much leverage he used to become filthy rich...Leverage the mid and lowers don't have access to?

Wed, 02/05/2014 - 18:44 | 4405825 Four chan
Four chan's picture

he tells it like it is, i may have a man crush on mr zell.

Wed, 02/05/2014 - 18:46 | 4405830 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Then you must be well lubed to receive his ... favor!

Wed, 02/05/2014 - 19:01 | 4405894 Boris Alatovkrap
Boris Alatovkrap's picture

Definition of Political Envy... Mine government more is bigger than is you!

Wed, 02/05/2014 - 19:30 | 4405998 knukles
knukles's picture

Has anybody asked him anything about if he's so fucking smart why he took it up the arse on the Chicago Tribune?

Wed, 02/05/2014 - 19:35 | 4406018 Gordon Freeman
Gordon Freeman's picture

You're a fucking idiot.

Wed, 02/05/2014 - 21:13 | 4406360 Wahooo
Wahooo's picture

It's a reasonable question. We put these gurus on a pedestal, but they are as likely wrong as anyone else.

Wed, 02/05/2014 - 21:22 | 4406384 strannick
strannick's picture

Worked harder at lobbying govt? Worked harder at subverting legislation? Worked harder at hiding income offshore? Santimonious Sam should save his schtick for Davos. The Bankster 1% are the biggest welfare recipients around

Wed, 02/05/2014 - 22:30 | 4406596 WillyGroper
WillyGroper's picture

I beg to differ. They are persecuted.

They work harder just like he said!

Pay more in taxes too. 

THE JOB CREATORS!!!!!!!!!!

Wed, 02/05/2014 - 23:00 | 4406637 strannick
strannick's picture

Sure thing Willie Loman. Tell that to Buffets secretary. I think you have the 1% mixed up with small business. "The very rich, they aren't like you and me"

Wed, 02/05/2014 - 23:58 | 4406815 WillyGroper
WillyGroper's picture

/s

Thu, 02/06/2014 - 12:02 | 4407874 STP
STP's picture

THE JOB CREATORS!!!!!   Fuck, how about the "FUCKING MONEY SLOSHERS!!!!!"   Because that's all they fucking do, is get free money, from the FED, through QE, POMO and numerous other BULLSHIT money-manure spreading operations and they go line up at the CASINO, I mean WALL STREET or the FOREX markets and play with that fake money, that got printed out of nowhere, that somebody, will have to pay back someday!  You are an IDIOT!

Wed, 02/05/2014 - 20:09 | 4406143 Timmay
Timmay's picture

Dear Zero Hedge Readers, I would like to offer a theory.

IF ObamaCare continues to be an absolute political and econimc shit show (as it appears to be) then the only path I see for the Democrats in the elections is quite clear: bring the .98% down to the same level as the rest of the country. I didn't say 1% as we all know what happens to the .02% of wealthy people.

It's pretty simple as to how they will do it (reducing Taper) and it will serve another economic purpose: to drive money into Bonds. Janet "It's Pat!" Yellen could easily accomplish this by continuing the Taper, thus crashing the equity markets, and replacing  the Taper flows with mom and pop "scared out of their minds about their retirement going down the shitter" flows and causing the rest of the country TO BEG for the Government to do "something". And, as the GOP is having a pissing contest over what it means to be (at the very least econimically conservative) the party left to "fix" all that ails the country is only to happy to spend all the future wealth of America on "Programs" to buy votes. I mean come on, what "Executive Orders" do you think they are lining up? Coupled with the MyRA, the enslavement of the 99.98% will be complete.

All bets are off after the clusterfuck of a Winter Olympics in Russia as to what Putin will do as well. Perhaps "War Bonds" will replace Taper flow??

Wed, 02/05/2014 - 21:24 | 4406416 Shad_ow
Shad_ow's picture

Yep.

 

Wed, 02/05/2014 - 22:53 | 4406668 QQQBall
QQQBall's picture

Nope. Red/Blue is bullshit. Wake up

Wed, 02/05/2014 - 21:54 | 4406485 Stoploss
Stoploss's picture

Welfare payments are a chain that binds us to our government master.

Food stamps are a chain that binds us to our government master.

Medicaid is a chain that binds us to our government master.

Social security is a chain that binds us to our government master.

Any form of assistance from the government, comes in the form of a chain to bind us to that master... Government Master...

 

How many chains do you have???

Wed, 02/05/2014 - 22:17 | 4406559 DeadFred
DeadFred's picture

Personally I've seen a lot of jawboning about the 1% but not a lot of action. It's all theater for the masses and if Zell doesn't have thick enough skin to hear some hard words while .GOV gives him advantage after advantage then he should find honest work. He looks like he could handle being a greeter at Walmart.

Wed, 02/05/2014 - 23:03 | 4406699 strannick
strannick's picture

Are you kidding? Look into his eyes. I've seen friendlier in the face of a Crocodile.

Thu, 02/06/2014 - 17:43 | 4409200 rockface
rockface's picture

It's not a question of Zell not having thick enough skin it's just that he's not going to cave in and surrender to stupid ignorant drones spouting moronic bullshit.

Wed, 02/05/2014 - 22:33 | 4406606 WillyGroper
WillyGroper's picture

Yup.

Just one thing, a well armed populace.

Wed, 02/05/2014 - 19:06 | 4405912 barliman
barliman's picture

 

Tell you what, Mr. Zell who feels:

ZELL: I guess my feeling is that he’s right. The 1 percent are being pummeled because it’s politically convenient to do so. The problem is that the world and this country should not talk about envy of the 1 percent. It should talk about emulating the 1 percent. The 1 percent work harder. The 1 percent are much bigger factors in all forms of our society.

You publish ALL of your economic dealings for the last decade, every trade made in the open and dark pools including every time some quant with a HFT colocated server took advantage of a corrupt SEC/CFTC, all bank accounts you have access to whether they are in your name or not and the audit trail of WHERE that money came from and, just for shits & giggles, let's have an independent audit/analysis of HOW MUCH money you have made from the combined QE's and ZIRP.

If the combined money you've made by having 1%'er access to all of these EXTRA opportunities does NOT exceed $ 100 million USD, we will all line up outside of CNBC's studio to publicly kiss your ass and beg your forgiveness.

If it is one red cent over the $ 100 million USD mark, you'll take a loaded handgun and blow out your brains on live TV.

Deal?

Wed, 02/05/2014 - 19:20 | 4405969 Keyser
Keyser's picture

Money has no ethics. 

Wed, 02/05/2014 - 19:27 | 4405989 Radical Marijuana
Radical Marijuana's picture

Money has military ethics.

Wed, 02/05/2014 - 19:31 | 4406002 knukles
knukles's picture

In the femacamps all they take is military script

Wed, 02/05/2014 - 22:37 | 4406592 aka_ces
aka_ces's picture

"business ethics" - you can find courses in this at some (many?) universities.

Wed, 02/05/2014 - 22:37 | 4406618 aka_ces
aka_ces's picture

And of course "money doesn't talk, it swears"

Wed, 02/05/2014 - 19:29 | 4405999 Bananamerican
Bananamerican's picture

"The 1 percent work harder"

notice how they never say, at what?...

Thu, 02/06/2014 - 17:42 | 4409206 rockface
rockface's picture

And you will never find out until you try.

Wed, 02/05/2014 - 21:25 | 4406413 Too Big 2
Too Big 2's picture

Zell's a real estate guy not a banker, politician, or CBanker you f...tard.  Your email is best saved for the Jamie Dimon's, Pelosi's, Bernake, etc's. 

Wed, 02/05/2014 - 22:38 | 4406616 WillyGroper
WillyGroper's picture

I seem to recall something of real estate in 2008.

Hmmm, what was it?

Hmmmm, or was that the 90's?

I forgot.

Wed, 02/05/2014 - 19:17 | 4405951 unrulian
unrulian's picture

the .1% took their factories, taxes and shell corps offshore and left the 99.9 with Wal-mart and Target and no work. Yes, anyone can start a business pressing someones pants but when an economy that produces nothing but service and low end retail fails in the shambles the .1% left us in...well, you reap what you sow Zell.

Wed, 02/05/2014 - 22:38 | 4406622 WillyGroper
WillyGroper's picture

Hopefully, he'll join the party.

In the short rows.

Wed, 02/05/2014 - 18:51 | 4405836 DoChenRollingBearing
DoChenRollingBearing's picture

Mr. Zell nails it.  Hatred of the rich and Socialist Medicine are very damaging to our country.  America used to be pretty damn free, now, not so much.

 

EDIT:

OK, I concede that the 0.01% (the banksters/oligarchs) are worthy of contempt.  But, what has happened to working hard on your start-up?  Nothing is (should be) wrong with that.  You should be allowed to get rich if you bust your butt and add the value.

Wed, 02/05/2014 - 18:55 | 4405846 James_Cole
James_Cole's picture

Yeah 'merica has always been a bastion of freedom and economic liberty. 

http://dickjutsu.files.wordpress.com/2011/11/japanese-internment.jpg

http://timelifeblog.files.wordpress.com/2012/02/01_1239_bw_917.jpg?h=372...

It's also a totally false argument that there's a big group of people out there who are against those who work hard and become wealthy doing so. 

Wed, 02/05/2014 - 19:07 | 4405906 DoChenRollingBearing
DoChenRollingBearing's picture

I cannot dispute you, James, that America has made many horrible mistakes.  Our country certainly has, that is incontrovertible.

I believe, however, that there is a "Culture of Envy", being actively encouraged by Obama and his minions that do indeed work against those who would get rich by working hard.  Why is it that small business is being skewered?  I have given up on starting a business in this country (as I have mentioned before).  NO WAY I am going to bust my butt and deal with the paperwork, licenses, bureaucrats and aggressive lawyers.

DoChen is an Ex-Entrepreneur here.  I'm out.  I will no longer "work" either.

I pushed the "AMF Button" years ago.

Wed, 02/05/2014 - 19:16 | 4405950 James_Cole
James_Cole's picture

Why is it that small business is being skewered?  I have given up on starting a business in this country (as I have mentioned before).  NO WAY I am going to bust my butt and deal with the paperwork, licenses, bureaucrats and aggressive lawyers.

I'm doubting WMT wants to compete with a bunch of small businesses, who does .gov work for to your mind? 

And after you've got through the paperwork on your small business, how about the banks? The same TBTJ banks that you must deal with who incidentally squashed the small banks via TARP. My sense is supporting small business is a benefit to no one who matters. 

Every country has good and bad history, but looking on it a bit too rose colored distorts the present. 

Wed, 02/05/2014 - 19:26 | 4405982 Bendromeda Strain
Bendromeda Strain's picture

Besides that, Mom and Pops' are way too often conservative Chamber of Commerce douchebags!

/Michael Moore

Wed, 02/05/2014 - 22:24 | 4406578 Augustus
Augustus's picture

The Culture of Envy results from the only tactic ever used by a Community Organizer.

It always requires the Demonization of the Others, who ever they may be for whatever cause.

When I read that Obama told one banker that he, Obama, was the only one keeping the crowd with pitchforks away from him, the crowd that Obama created, I get a better understanding of Community Organizers.  Of course they don't have to understand anything about the business or what those Others actually do or did.  The Organizers don't have to have a clue about what is necessary to make any changes or the follow on effect.

"We.  Want. Something. Here. NOW."  They don't care one bit where it comes from.

Wed, 02/05/2014 - 19:19 | 4405915 TruthInSunshine
TruthInSunshine's picture

Zell is one giant red herring on this topic, and I say Fuck You! unto him for it.

He is clinging to the issue of the 1% being allegedly maligned (I won't address that, because it falls into the trap I speak of), when he fails to discuss the fact that the Federal Reserve in concert with the Treasury Department are actively engaged in a ginormous bubble blowing scheme - AGAIN - that further distorts markets (massively, to the point of breaking them), misprices every asset class, completely warps price discovery, artificially suppresses interest rates and the price of the use of money, and leads to literally dozens of other seriously adverse economic and financial cancers.

Why doesn't Zell give his opinion of the Bernanke Monetary Legacy, which is the real critical question (crisis) of our time?

Fuck You, Zell, you fucking diet coke drinking midget!

Wed, 02/05/2014 - 20:35 | 4406231 OH10DESERTER
OH10DESERTER's picture

Ms. Horsemouth never asked how he felt about the economic consequences of the actions you speak of.  Do we really need people like Zell coming out and stating that?  We already have Rogers, Paul, and Faber.  What we need is some fly ass chicks to come out and say it.  Maybe hold Clooney at gunpoint and make him speak of these things.  Another frumpy old dude speaking his mind will not persuade the 'Mericans.

Wed, 02/05/2014 - 22:28 | 4406588 Augustus
Augustus's picture

Zell does complain that assets are overpriced.  He does not directly ascribe it to Old Ben, but that is plainly the cause.

Wed, 02/05/2014 - 22:46 | 4406648 WillyGroper
WillyGroper's picture

One of these days the 1% whiners are going to yell wolf/nazi one time too many & someone real hungry & homeless is going to get his belly full & it ain't gonna be full of food. 

They're scared, that's why the SOS is getting parroted. 

No one is convinced.

Wed, 02/05/2014 - 19:16 | 4405947 zaphod
zaphod's picture

A very selective list you got there. Pales in comparison to what many other societies did at the same time (and still happen today). 

If you are going to talk about Japanese Internment, why don't you talk about the millions of Chinese and Korean girls forced into sex slavery by the Japanese at the same time? America wasn't great, but this is not comparible. I lived in Korea for 4 years and the memory of the Japanese camps has not faded, nor should it. There are still Koreans living in Japan who went through this and even today the Japanese have marches in Tokyo saying to kill these Koreans who were brought into Japan against their will, this is today. Could never imagine in the US.

And way to push a false racial element with your depression photo. Last time time I checked Americans of all colors had it hard in the depression and many of all colors went to food lines, including my sicilian grandparents who were considered the blacks of europe. But no, you would rather push false racial accusations that are not true to keep people divided. Why don't you go run for one of the D or R parties, you'd fit right in.

Wed, 02/05/2014 - 19:20 | 4405961 James_Cole
James_Cole's picture

It wasn't a comparison, simply pointing out that America has always had the good and the bad. 

Wed, 02/05/2014 - 20:40 | 4406246 zaphod
zaphod's picture

And my point is the ONLY thing that is discussed today or taught in schools are the negatives of America.

What is never discussed or taught are the positives of America or the horrible things other peoples have done. 

Without this balance of perspective America is being torn appart while simultaneously losing all the attributes of independence that did make it great. We are not building on the past (keeping the good while improving the bad) to make a better place, instead we are tearing down the past to create something entirely new that looks to be worst IMHO. 

Continous unbalanced attacks on America is what is dividing the country and will be its downfall eventually.

Wed, 02/05/2014 - 22:58 | 4406683 aka_ces
aka_ces's picture

The natural "rival" of the US was the indians, so successfully vanquished that they became harmless American lore.  

"Black power" didn't become a "problem" until almost 200 years into US history, or ~465 years after Columbus arrived in the "new" world.  

Up until the 1950s, the US did not have to deal with unresolved historical conflcts/hatreds with any rivals of comparable power.  And so the kinds of mistreatment that the Japanese visited upon other Asians did not occur; the American population was not primed for it.  This is quite different than in many other parts of the world.  In this respect, the American experience is exceptional indeed.

Wed, 02/05/2014 - 23:11 | 4406719 zaphod
zaphod's picture

Interesting perspectives. 

However in the early 1900s there were zero unresolved historical conflicts or hatreds between the Japanese and Koreans. Despite their closeness there was little interaction between the nations, so this is not responsible for the "kinds of mistreatment" that the Japanese visited on others. (Japan was largely closed and the Koreans denied the existance of nations farther than Japan or China, there is a facinating story BTW of dutch saliors stranded in Korea who took decades to escape)

Thu, 02/06/2014 - 17:50 | 4409231 rockface
rockface's picture

There is no such thing as Black Power in America.  There are a lot confused whiny wimpy ignorant losers who have given up on strivng in life and are desperate for someone else to take care of them.

Wed, 02/05/2014 - 20:34 | 4406219 boogerbently
boogerbently's picture

"It's also a totally false argument that there's a big group of people out there who are against those who work hard and become wealthy doing so."

 

WTF????

That HUGE group of people is called the Democratic party.

Where have you been the last 6 years?

Wed, 02/05/2014 - 18:55 | 4405875 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Rich is good. Filthy rich, you've got bodies in a mass grave somewhere.

Stop the rich from getting rich? Never.

But how about jobs for the common man?

And not working at Wall Mart.

The rich have gotten filthy so buy piggybacking off of obscene numbers of illiterate, impoverished 3rd worlders.

Wed, 02/05/2014 - 19:54 | 4406088 Spastica Rex
Spastica Rex's picture

I think you may have a contradiction or two in there.

Wed, 02/05/2014 - 20:36 | 4406230 boogerbently
boogerbently's picture

That "contradiction" I see is:

You don't want companies to use lower wage help overseas, but you don't want to BE the lower wage help, either.

 

Wed, 02/05/2014 - 19:30 | 4406004 tickhound
tickhound's picture

Geeezus I'd hate to see you people if markets were "punished" another 5%.

Never mind the system is on credit binge overdrive artificially pumping markets to ALL TIME HIGHS creating little more than a worldwide wealth consolidation effect and we gotta read how "Zell nails it!"

If he nailed anything it was how to play victim at 1750 s&p.

Wed, 02/05/2014 - 22:36 | 4406610 aka_ces
aka_ces's picture

Are the 1% more imperiled by the 99%, or by the 0.01% ?

Wed, 02/05/2014 - 18:47 | 4405839 James_Cole
James_Cole's picture

It should talk about emulating the 1 percent. The 1 percent work harder. The 1 percent are much bigger factors in all forms of our society.

To be fair to Zell and his brother in arms Carl, they clearly work way harder than the average folks at pimping shit all day on twtr, gotta be exhausting. 

ZELL: I think that the politics of envy, the politics of class warfare are what has separated America from many parts of the rest of the world.

America has always been a country of deep class divisions and class warfare. Of course he doesn't want to talk about it 'cause it doesn't exactly benefit the 0.1% to have it pointed out that all of the economic gains are going to them while the rest of 'merica gets the shaft. 

Wed, 02/05/2014 - 19:44 | 4406056 ebworthen
ebworthen's picture

Zell is perpetuating the Republicrat mythos of "free" markets and capitalism, which is a steaming crock of shit just like the Demican mythos of "social responsibility" and looking out for the little guy.

Both parties are bought, paid for, and in the pockets of the banks and corporations.

We are the ping-pong ball and they hold the paddles and are swinging.

Zell is court-side drinking a beer and laughing; this is theater.

Wed, 02/05/2014 - 20:09 | 4406133 Flakmeister
Flakmeister's picture

Sam Zell is a money grubbing plutocrat that make Mittens seem compassionate in comparison...

Wed, 02/05/2014 - 22:34 | 4406601 nmewn
nmewn's picture

Well, at least Buffet & Soros are true capitalists ;-)

Thu, 02/06/2014 - 03:50 | 4406845 Flakmeister
Flakmeister's picture

Who was it that said:

Pure Being and pure nothing are the same thing....

Hegel, wasn't it?

Wed, 02/05/2014 - 20:08 | 4406127 Robot Traders Mom
Robot Traders Mom's picture

@Four chan: No, Sam Zell doesn't tell it like it is. 

 

"The 1% work harder." Some of them do work hard, but so does the nurse at the hospital, the teacher at the school, the plumber that works for himself. The list goes on. They aren't in the 1%, yet contribute more to society than some fuckwad like Lloyd Blankfein. 

 

I know you are just trolling, but go over to Barron's or somewhere else where you can spew your ignorance with like-minded people...

 

 

 


Wed, 02/05/2014 - 23:32 | 4406757 StychoKiller
StychoKiller's picture

"I'd rather have 1% of the effort of 100 men, than 100% of my own effort."  J.P. Getty

Wed, 02/05/2014 - 19:02 | 4405879 john39
john39's picture

so the so called one percent get thrown to dogs by the .0000001%.   tragic.   now they will know what the rest of us feel like.

Wed, 02/05/2014 - 19:17 | 4405948 Ban KKiller
Ban KKiller's picture

Total fascist. He has to support other fascists, Ovens are too good for these creeps.

 

Death, by falls, to these nazis statists.

Wed, 02/05/2014 - 19:36 | 4406017 Dark Space
Dark Space's picture

That's hogwash. The mid and lower classes have access to too much leverage, and far more than the higher classes - at least as individuals. He couldn't get an FHA loan with no money down, in fact he'd probably be forced to put up additional collateral or have low LTV unless he has W2 income (which is the only input Fannie/Freddie understand)

On the investment/business side - you're talking hogwash there too. His parents squeezed out Poland with the shirts on their back and not much else right before the Nazi's swarmed in and started exterminating the jews. He literally came from nothing and moved to the top 1% with the same access to the same leverage anyone else could have used during that time period.

Thu, 02/06/2014 - 01:07 | 4406947 Salamanda
Salamanda's picture

That's a little thin and simplistic don't you think DS.. seriously??

The mid and lower class 'access to leverage' point is rather flawed. Look at what the final nail in the middle classes' coffin was in the last few decades.. Real Estate. Their wealth disappeared due to the purely greed-driven initiative of the bankers and financiers (basically.. 'The 1%'!)... all who 'knowingly' and systematically pushed huge sums of leveraged 'faceless' capital into the sub-prime lending 'space', incentivizes reckless approval/eligibility protocols, created and outsourced robo signing (in case there wasn't already enough inherent risk wound into this poisonous 'lollie-scramble' of madness), then used their knowledge, abilities, positions and influence to 'knowingly' create and package instruments such as MBS's or CDO's and trade them with total abandon... and who profited from this??

There was only one sector capable of creating that much leverage 'At Will' and with no limits, controls or boundaries... and it certainly not the middle or lower classes... quite the contrary.

The only people who this shameless and predatory industry benefitted were 'The 1%'. They control the system, they control the capital, they control its flow and to who it flows to, they retain the best legal minds and the smartest accounting brains to ensure the 'shelters' and 'havens' they create to 'minimize' tax liabilities if not eliminate completely, they play golf with their bank's executive and board members, they wine an dine with politicians who they can 'donate' funds to to ensure that the system they run, own and control continues to do so uninterrupted, unimpeded and away form the gaze and glare of public scrutiny, federal oversight and any form of moral or social accountability.

There's nothing this echelon of your social hierarchy provide to those whom they deem and view as beneath them. The bullshit spin about being 'Job Creators' is nothing short of laughable; 'Trickle Down' economics was nothing more than 'buying of more time' by Regan and the same bunch of usual suspects that always seem to rare their in-bred, ugly faces when anyone should dare question their collective behavior and the ethics of therein. It's not a question of weather the US economy can sustain the middle or lower classes.... if one is honest, the question has to be weather the US economy can sustain the corrupt and leacherous upper 1%.

I think not.

 

Thu, 02/06/2014 - 06:30 | 4407170 The.Harmless.Who
The.Harmless.Who's picture

 

 

Someone should make Zell eat his diamonds....

 

Oh wait...

 

;-)

 

 

Wed, 02/05/2014 - 18:44 | 4405821 Seasmoke
Seasmoke's picture

And we are very , very pissed off.

Wed, 02/05/2014 - 18:43 | 4405826 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

That's right Sammy, we're comin fer yer as- with pitchforks!

Politics of envy my as-.

It's called, we ain't playin this plantation game anymore homie!

Lolz.

 

Wed, 02/05/2014 - 18:45 | 4405828 Rainman
Rainman's picture

Life under dictatorship is hard on everybody .. except the dictators.

Wed, 02/05/2014 - 18:46 | 4405832 Fidel Sarcastro
Fidel Sarcastro's picture

Fuck u Zell. The 1%, actually the .01%, were those that were bailed out and then made wealthier via QE.  DO you think we DON'T know this?

Where would the Old COger of Omaha be, or you Zell, without the bailouts?  Your bank, newspaper, and insurance investments would have been C R U S H E D - and we all know it.

And as far as activists like the douchbag iCahn --- fuck him too!


Wed, 02/05/2014 - 19:10 | 4405928 therover
therover's picture

Right ! These fuckers have a very short memory. Some day soon, we will remind them. Fuckers are crying boo hoo with a bar of gold under each arm, because they think we will have mercy.

NO MERCY.

Any one of these fuckers, who got their ass bailed out, who use the word capitalism, should be shot.

Wed, 02/05/2014 - 21:04 | 4406326 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Any one of these fuckers, who got their ass bailed out, who use the word capitalism, should be shot.

The problem with resorting to impulsive violence is that it's too easy to do something that you'll later wish you hadn't. Taking a few moments to think about what you're doing could save a lifetime of regrets.

Sure, you could line up every one of the bailout welfare queens in front of a firing squad, but what would you really accomplish? Is it really worth it? It seems to me like just a waste of ammunition when you consider that a stout rope and a sturdy tree can be reused many times over. Additionally, there may be local artisans and craftsmen who could fashion perfectly functional guillotines. It would be a shame to deprive them of such rewarding work.

Wed, 02/05/2014 - 22:07 | 4406535 Marge N Call
Marge N Call's picture

You are such a dumbass. Are you blaming him because the people YOU elected to represent YOUR interests took your money, then sucked his cock and then sold YOU down the river??

Who bailed him out? The PEOPLE YOU ELECTED SHITHEAD.

I'm sick of assholes like you whining about the "one percenters", then you stupid motherfuckers elect Obama, Schumer, Pelosi, McCain, Bush, etc, and get mad at the one percenters INSTEAD of the people who actually fucked you.

You get fucked because you elect people that fuck you.

Wake up asshole and point he pitchforks in the right direction. Not that you would have the balls to do anyting anyway.

Wed, 02/05/2014 - 22:19 | 4406565 lotsoffun
lotsoffun's picture

hey margie - i'm calling you out.  there are alternatives available to vote for?  i stopped voting decades ago.

democrat/republican is simply coke/pepsi, ford/gm.  an arguement for idiots to think they have a choice.  but - i'll bet you like wendys over macdonalds.

anybody that can't see that probably thinks jets are better than the giants, and wastes mental energy and living time watching games.

 

 

Wed, 02/05/2014 - 22:37 | 4406613 Marge N Call
Marge N Call's picture

OK let me get this straight: your answer is to bitch about it?

Here are the alternatives:

1. Move out of the USA. Stop paying taxes and feeding the beast.

2. Vote for an "unelectable" candidate like Ron Paul or the Green Party.

3. Stop paying taxes and live off the grid in the shadow economy.

4. STFU about it.

5. I'm sure there's more but you get the point.

Got it?

 

Wed, 02/05/2014 - 22:59 | 4406689 WillyGroper
WillyGroper's picture

Marge why was RP unelectable?

Nader?

Cuz the exact slime you mentioned made it that way.

 

Thu, 02/06/2014 - 08:32 | 4407258 Marge N Call
Marge N Call's picture

Not exactly. They smeared and slimed RP and Nader because they own the media, but in the end they made the electorate FEEL or THINK that RP, etc were unelectable, and thus they were beaten before the election even started.

Just look at how the Red and Blue "Parties" smeared and destroyed Occupy WS and the Tea Party.

Wed, 02/05/2014 - 18:46 | 4405835 q99x2
q99x2's picture

Arrest that crook. Ship his ass to France before he escapes by natural causes.

Wed, 02/05/2014 - 18:48 | 4405838 Spungo
Spungo's picture

"Has anyone asked Mr. Zell how much leverage he used to become filthy rich...Leverage the mid and lowers don't have access to?"

Uh have you tried? Any retard can get a loan. Even drug addicts are getting 20k loans for new GM vehicles. 

Wed, 02/05/2014 - 18:50 | 4405843 max2205
max2205's picture

I don't trust him either. ...sucked the life out of the Tribune

Wed, 02/05/2014 - 18:56 | 4405854 LawsofPhysics
LawsofPhysics's picture

LMFAO!!!  The top 1% are just fine dumbass, for now...

 

Drop a few "1 % ers" into south central after dark with no phone or transportation if you want to see some "pummeling" motherfucker.

Wed, 02/05/2014 - 18:51 | 4405856 oleander garch
oleander garch's picture

Things like social security for the common man are so last century.  The $17 trillion in bail outs, backdoors and accounting fraud fostered so far by the Fed are the price those common men must pay to keep people like me and Sam solvent.  You can't save us and Social Security, too.

Wed, 02/05/2014 - 18:53 | 4405860 phoolish
phoolish's picture

Poor Baby.  Cry Me a River.

 

The Social Contract is Broken and I Didn't Break it.

Wed, 02/05/2014 - 20:07 | 4406130 Senseless Urina...
Senseless Urinal Cake's picture

 

Q:  "Did you try carnuba?"

A:  "I tried everything"

Wed, 02/05/2014 - 18:53 | 4405861 q99x2
q99x2's picture

"1 percent"

con man words. 1 percent income based on the income of the population of the world = $655,000.

This "Zell" guy is a pig. Ichan is an enemy.

 

Wed, 02/05/2014 - 18:54 | 4405863 migra
migra's picture

Zell is a POS.

Wed, 02/05/2014 - 18:53 | 4405864 migra
migra's picture

Zell is a POS.

Wed, 02/05/2014 - 19:02 | 4405898 Al Huxley
Al Huxley's picture

I heard you the first time, but still, up arrows for both - it bears repeating.

Wed, 02/05/2014 - 18:55 | 4405867 Life of Illusion
Life of Illusion's picture

 

ya right

2007

(Reuters) - Billionaire investor Sam Zell on Wednesday compared the current credit-fueled crisis in U.S. real estate to the savings-and-loan meltdown of the late 1980s but said it was a "manageable" problem that would not drag the wider economy into a recession next year.

In 2007 the Blackstone Group completed its purchase of Zell's Equity Office Properties Trust for $39 billion,[6] which was the largest LBO in history at the time. Blackstone sold off many of the portfolio's properties for record amounts.[7][dead link] By early 2009 most of the properties sold were "under water" (worth less than the mortgage).[8]

 

Wed, 02/05/2014 - 19:04 | 4405901 James_Cole
James_Cole's picture

No industry comes close to finance in terms of treating people who are wrong 99% of the time like Gods. 

Wed, 02/05/2014 - 19:41 | 4406047 zanez
zanez's picture

See? What hard work that must have been! Imagine all the lying he had do do.

Wed, 02/05/2014 - 18:54 | 4405869 AchtungAffen
AchtungAffen's picture

The Fox News-ification of ZH continues thus...

Wed, 02/05/2014 - 19:45 | 4406063 tickhound
tickhound's picture

So you're not buying the "the crisis created by the all out assault on the wealthy" meme either, huh?

Wed, 02/05/2014 - 18:58 | 4405877 Antifederalist
Antifederalist's picture

Ironic that these modern day Potters suddenly worried that the slaves in Potterville are restless.

You reap what you sow, Sam.

You can have all the money in the world......

Respect and love, ....not so much.

Sucks, doesn't it.

Not too sympathetic to listening to you and Perkins whine.

What the fuck did you expect?

Wed, 02/05/2014 - 18:57 | 4405881 Al Huxley
Al Huxley's picture

Hey fuckhead, I'll emulate the 1%

- First, I want my zero interest loans from the FED that I can lever up to buy bonds that I sell back to the FED, or invest in stocks using the HFT platforms I'll buy to fleece retail, or whatever other insider deal Janet can cut me. 

- Second, I've had some bad breaks in the market, these weren't my fault, and it will be in society's best interest if I'm made whole, so cut the fucking check douchebag.

- Third, I'll be looking for some preferential tax treatment this year, I pay far to much in taxes for someone of my importance making the kinds of contributions I do to the economy and society at large.  I expect to hear shortly about the compensation and special recognition I'll be receiving in light of my exemplary citizenship and leadership.

 

What a fucking cunt, they're all just a bunch of fucking narcissistic, sociopathic cunts.

Wed, 02/05/2014 - 19:08 | 4405918 syntaxterror
syntaxterror's picture

- Fourth, I want Øbama to eat the corn outta my shit like he did outta Warren's.

Wed, 02/05/2014 - 19:57 | 4406098 lunaticfringe
lunaticfringe's picture

Ever wonder why Obama won't sign off on the pipeline?

Please remember who owns all of the railroads shipping oil out of the bakken. Yes, yours truly...Mr. Buffett.

Still believe in concidence?

Wed, 02/05/2014 - 20:10 | 4406138 syntaxterror
syntaxterror's picture

Yep, Øwebama is nothing more than Warren's stooge. Bought and paid for. And feeding on that nasty corn!

Thu, 02/06/2014 - 00:24 | 4406852 Flakmeister
Flakmeister's picture

What you two guys don't know about Keystone fills at least 80 lobbyists briefcases...

Start here:

http://www.zerohedge.com/contributed/2014-02-02/why-keystone-pipeline-wi...

I suggest you read the comments.....

Wed, 02/05/2014 - 19:13 | 4405941 therover
therover's picture

+1 for the cunt remark. Could not have said it any better.

Wed, 02/05/2014 - 19:23 | 4405978 NoDebt
NoDebt's picture

Al, I gotta tell you, I could almost live with those demands if I could get one thing in return: When they finally run their ship up on the rocks, as they eventually will, and despite all those advantages, that they be allowed to FAIL.

Wed, 02/05/2014 - 19:26 | 4405985 Al Huxley
Al Huxley's picture

Exactly.

Wed, 02/05/2014 - 19:53 | 4406079 waterhorse
waterhorse's picture

Cunts can be good things.  Zell is a putrid anal fistula.

Wed, 02/05/2014 - 22:45 | 4406651 Marge N Call
Marge N Call's picture

I guess I focus my anger on those are paid to protect "us" from the predator "enemies" rather than the predators thenselves. There are assholes like Zell et al throughout history and there will always be people like him. The only difference is whether or not there are men and laws that actually do SOMETHING to "level the playing field", forgive the platitude.

Don't you think the people whose responsibility and duty it is to uphold the laws and values that WE THE PEOPLE hold dear bear the majority of the blame in all this? Yes, he's a cunt. There were and will always be cunts worse than him. But WE THE PEOPLE let it happen.

So we kill him and send the rest packing, then what, the next group of elites come in and our "leaders" suck their cock and give away the store again.

If you are going to rage, rage against the true traitors, not the predators.

 

Wed, 02/05/2014 - 23:44 | 4406783 Al Huxley
Al Huxley's picture

I do, I rage against the traitors, and I rage against the predators - it just depends on who's taken center stage with their self-righteous victimized, 'poor little rich boys and girls' act in any particular post.

Thu, 02/06/2014 - 08:36 | 4407262 Marge N Call
Marge N Call's picture

Fair enough.I can't let Doucheheads like Zell raise my blood pressure, I'm too old for that.

In any case, release the hounds!!!

 

Wed, 02/05/2014 - 18:59 | 4405886 barroter
barroter's picture

We should give the rich MORE money, tax breaks, subsidies..even our very own savings.  If we do this, they'll save the nation from ruin, like they did the last time.  Wait...they NEVER have done that!

Wed, 02/05/2014 - 19:00 | 4405889 ebworthen
ebworthen's picture

When you bail out banks, corporations, and insurance companies at the expense of 99% of citizens there is no leg to stand on to talk about class warfare in this way.

These assholes don't get it; if you don't enforce the rule of law and hold everyone to the same standard THERE ARE NO STANDARDS and your heads are at risk, and rightly so.

Where the fuck is Jon Corzine?

Hang 'em high!

Wed, 02/05/2014 - 19:22 | 4405967 NoDebt
NoDebt's picture

Back in the old days (09') we used to call this moral hazard.  Nobody talks about that any more because what they learned afterwards is that cronyism and corruption are just WAY easier ways to get and stay in the elite.  It's working splendidly, in fact.  And who doesn't want that?  I mean what IMPORTANT people don't want that?  They can't believe their luck.  After nearly going over the edge and requiring a huge (and embrassing) bail-out, that they would have discovered the single best game they ever played for concentrating and holding power.

Thu, 02/06/2014 - 08:37 | 4407265 Marge N Call
Marge N Call's picture

+100

" if you don't enforce the rule of law and hold everyone to the same standard THERE ARE NO STANDARDS"

Bingo.

Wed, 02/05/2014 - 19:01 | 4405890 kurt
kurt's picture

Money Talks Bullshit

Wed, 02/05/2014 - 19:06 | 4405903 ThroxxOfVron
ThroxxOfVron's picture

"We don’t need 17,000 new pages of federal regulations in the last five years. So I think all of those things contribute to this disparity. And the more complicated our government makes our world, the more the 1 percent can afford to hire somebody to figure it out and the other guy can’t. But if you simplify government, neither one of them require (ph). And therefore the disparity slows down."

 

But, We DID get 17,000 new pages of federal regulations.

The 1% payed a lot of bribes, er -campaign and PAC donations to make those 17,000 pages, of what Zell admits are in fact nothing more than unqualified legislative favoratisms, appear.

-It very much looks like the 1% got bail-outs and hand-outs from .GOV and used part of the money to secure and consolidate further wealth and access to ME.

Wed, 02/05/2014 - 19:05 | 4405910 buzzsaw99
buzzsaw99's picture

that is one fugly dude

Wed, 02/05/2014 - 19:12 | 4405936 akak
akak's picture

It is the hallmark of the breed --- Soros, Icahn, Trump, Buffett, et al.

Every soul has the face it deserves.

Wed, 02/05/2014 - 19:37 | 4406026 buzzsaw99
buzzsaw99's picture

i hope he lingers in death

Wed, 02/05/2014 - 19:40 | 4406040 akak
akak's picture

And I hope that on his deathbed he resembles your avatar.

(He's at least halfway there already.)

Wed, 02/05/2014 - 19:11 | 4405911 akak
akak's picture

Somebody punch this whining hypocritical SOB in  his mangina!

And while you're at it, please punch that Obamacare-loving bitch in the face too.

Wed, 02/05/2014 - 19:18 | 4405958 New_Meat
New_Meat's picture

akak, you are assuming that there is some manliness hangin' around there.

Nyet, tovarich.

- Ned

Wed, 02/05/2014 - 19:11 | 4405925 Stock Jobber
Stock Jobber's picture

When you attack the rich you empower the government.  Government is the problem - and you 1% haters are it's useful idiots.  The rich are irrelevant.  

Wed, 02/05/2014 - 19:25 | 4405979 Al Huxley
Al Huxley's picture

The government is bought and paid for by the one percent, and when they hand out candy to the FSA to keep them docile, its under direction from those same 1%ers.  I've said it before, I don't have any problem with people who work hard and make money doing so.  I have a huge fucking problem with the ones who use their power and influence to rewrite the fucking rulebook so that they can never lose.  I don't expect anything different, but they sure as hell shouldn't expect sympathy when the people they're busy fucking to death stop admiring them.

Wed, 02/05/2014 - 19:29 | 4405995 Stock Jobber
Stock Jobber's picture

When the government takes a bribe what's the fundamental problem?  There will *always* be people willing to pay bribes.  And when you have a government with it's fingers in every facet of the economy there are going to be winners and losers and bribe payers every single time.  Hating the bribe payers is useless.  Ban the government from meddling in the economy and the problem is solved.  There's no reason to bribe them because there's nothing they can do.

Wed, 02/05/2014 - 19:39 | 4406036 Al Huxley
Al Huxley's picture

You're missing the point - the government is created by the 1% as the means of keeping the rest of the population under control.  YOU can't 'ban the government' from doing anything because the government doesn't do what YOU want, it does what its owners want.

Wed, 02/05/2014 - 19:47 | 4406061 Stock Jobber
Stock Jobber's picture

The people get the government they deserve.  If the rich in 1776 had tried to impose upon the people of the 13 colonies anything approaching the behemouth government we have today they would have failed.  The people were too independent.  

 

Applealing to envy and class hatred sucks away that independence and causes people to demand a government solution to every inequality.  The result is a totalitarian state.

Wed, 02/05/2014 - 19:47 | 4406062 Stock Jobber
Stock Jobber's picture

dbl post

Wed, 02/05/2014 - 20:17 | 4406160 ejmoosa
ejmoosa's picture

But there is always a 1%,   So anytime someone wants to redirect the anger, the 1% are always there whether or not it's their fault.

 

The 1% did not influence my vote at the ballot box.  Did it influence yours?

 

If you gave some constitent support and a few dollars(just a few) to some REAL constitutionalists, this shit would have already been turning around.

But no, we keep playing the 1% game, because we gotta have someone easy to blame.

 

 

Wed, 02/05/2014 - 20:27 | 4406191 nmewn
nmewn's picture

Plus 100 billion, of course everyone forgets that a measly 250k was considered "rich" just a couple years ago...which is how this envy shit works.

It'll roll back around again, next time, 100k, then fiddy.

Wed, 02/05/2014 - 19:15 | 4405931 Josh Randall
Josh Randall's picture

This guys a codger - everyone whom doesn't know how to game the system in his opinion is an idiot evidently. I have envy of the 1% teflon legal defense immunity

Wed, 02/05/2014 - 19:12 | 4405932 Josh Randall
Josh Randall's picture

See above

Wed, 02/05/2014 - 19:13 | 4405933 Josh Randall
Josh Randall's picture

See above

Wed, 02/05/2014 - 19:13 | 4405934 Tinky
Tinky's picture

Is it safe?

Wed, 02/05/2014 - 19:17 | 4405956 New_Meat
New_Meat's picture

It is very safe, you can't imagine how safe it is.  Really, it is so safe that you can't even think about how safe it is.

- Ned

 

Wed, 02/05/2014 - 19:12 | 4405935 nightshiftsucks
nightshiftsucks's picture

Shit,look at Larry Ellison.He built 100 million dollar mansion and then challenged the property taxes saying that because it was a unique house he couldn't sell it for 100 mi.What a piece of shit,I think they reappraised it at 85mil.That's why I hate the rich.Also if that dickhead was so smart why didn't he build a division to compete with people soft,no the stupid mother fucker bought them and laid people off.Larry Ellison is a douche.

Wed, 02/05/2014 - 20:12 | 4406150 conspicio
conspicio's picture

Gee, that's odd, the people in the trailer park think the guy who owns the house is a douche. The guy who owns the house thinks the guy who owns a nicer house is a douche. The guy who owns a nicer house is Larry Ellison and he gives no fucks about what anyone thinks about him.

Relativity, my chap. And a dash of context. Who's douche are you?

Wed, 02/05/2014 - 22:02 | 4406517 nightshiftsucks
nightshiftsucks's picture

Well let me see stupid fuck,I'm not the one who built a $100 million dollar house and then contest paying property taxes on it.Get it stupid fuck ?

Wed, 02/05/2014 - 22:09 | 4406536 lotsoffun
lotsoffun's picture

actually - larry ellison DOES give a fuck about what people think about him, otherwise, he would stop and find something else to do.  i've been very fortunate in life, i haven't a lot of money, but i've lived a pretty varied life, lived in a few countries, learned a few languages, learned about a few other cultures.and i've met people that made their own fortunes or came in with fortunes, and i've seen some that enjoy life and some that don't, and some that worked incredibly hard and checked out satisifed with what they had saved and accumulated and others that continued to work until death.and the big difference was the ones that worked hard and earned it honestly without fcking everything and everybody over on the way, were much more likely to have had a goal and check out then the one's that continued.think bernake.  think corzine.  corzine for example, he left goldmine shacks with something like 120 million.  and then had to be governor, and then had to take down an established firm (all it's employee's and all it's clients).

larry ellison is in my mind an extremely insecure person that never knows when to stop and will never think about what his rape of other people does to other people, as long as he benefits.  because he is so insecure, he cares about what people think, and in his mind, if he has more money than (think jamie dimon??), then he is better than you.  rather than being satisfied with who he is.

 

 

Thu, 02/06/2014 - 03:17 | 4407069 Salamanda
Salamanda's picture

Plus he's got a teenie weenie pathetic little joke of a penis. (which explains his ridiculously large and butt-ugly yacht).

... oh, and a girl's name for surname.

The guy just screams 'Issues'!

Wed, 02/05/2014 - 19:19 | 4405942 fijisailor
fijisailor's picture

Being a member of the "top 1%" does not in any way make you a superior human being.  I have the following questions about the "top 1%"

Are they happier?  probably not

Are they healthier?  probably not

Do they live longer? no

Do they have more leisure time?  no

Do they have more interesting lives? no

Do they feel a better sense of purpose in life?  no

Do they have more money?  yes

Do they have more power?  yes

Therefore being "top 1%" only means more money and power.  Totally over rated.  Really is that guy in the video an idol?

Wed, 02/05/2014 - 19:20 | 4405966 Stock Jobber
Stock Jobber's picture

Exactly.  So who cares?  Why obsess over people with money?  It is the government that regulates us to death.  Its the government that will seize your property and income if you don't pay their ever increasing taxes.  Its the government that indoctrinates our children in public schools.  Its the government that forces us to use paper money which they control.  

Focusing on the rich is exactly what the government wants you to do.  So they can play god and rob Peter and pay Paul.  People ranting about the 1% are the useful idiots of the state.

Wed, 02/05/2014 - 19:31 | 4406006 MeBizarro
MeBizarro's picture

Are they happier?  Yes and we have tons of empirical data that happiness does radically increase until you reach $70k/annually but the marginal increase is still notable up until $200-$250k annually.

Are they healthier?  Absolutely.  People who are wealthier are almost always healthier and enter Medicare with any comorbidities.

Do they live longer? Yes.  People who are wealthier live notably longer lives generally.  

Do they have more leisure time?  It depends.

Do they have more interesting lives? Stupid question because you can't begin to measure it.

Do they feel a better sense of purpose in life?  Again this is a poor question because it is so vague that you can't measure it.

Do they have more money?  yes

Do they have more power?  yes

Wrong on almost all accounts. 

 

 

Wed, 02/05/2014 - 19:35 | 4406019 fijisailor
fijisailor's picture

You've redefined what we're talking about.  I refer to the "top 1%"  You refer to "people".  Most people who are wealthier are not in the top 1%.  So you are just plain wrong.

Wed, 02/05/2014 - 19:46 | 4406059 MeBizarro
MeBizarro's picture

Fine but you said there was no real difference besides the money/ower and this is utterly ridiculous. 

Wed, 02/05/2014 - 19:55 | 4406087 fijisailor
fijisailor's picture

"But no matter how much more than $75,000 people make, they don't report any greater degree of happiness."

http://content.time.com/time/magazine/article/0,9171,2019628,00.html

Happiness comes from leading an interesting life with a sense of purpose.

Wed, 02/05/2014 - 20:49 | 4406279 MeBizarro
MeBizarro's picture

From additional work that has been done is a marginal increase as incomes increases.  The difficulty is finding the cut-off point where the marginal increase becomes insigificant.  It is also impacted by a few factors including the cost of living in your current location. 

Wed, 02/05/2014 - 19:15 | 4405952 New_Meat
New_Meat's picture

the NYC economy, such as it is, will implode to David D. levels when they actually export the 0.01 and the 0.001, and the 0.0001 associated jobz.

Then the 89.xx <= and - - - - jobs shall follow into the abyss

don't cha' know.

- Ned

Wed, 02/05/2014 - 19:21 | 4405971 alien-IQ
alien-IQ's picture

Fuck that over privileged dinosaur. Fuck him right in the ass.

Wed, 02/05/2014 - 19:57 | 4406099 waterhorse
waterhorse's picture

Yep, crony capitalist, trickle-up wealth-extracting parasite, rentier class, whining, narcissistic, corrupt, arrogant, venal, flaccid, awful old man.

Wed, 02/05/2014 - 19:28 | 4405991 ElixirMixer
ElixirMixer's picture

It's amazing how some of these guys can criticize the Federal Government without even an iota of irony. I guess I should at least give Zell credit for being a completely transparent sociopath rather than a megalomaniacal sociopath like Warren Buffett.

Wed, 02/05/2014 - 19:28 | 4405994 ejmoosa
ejmoosa's picture

The 1% is not your enemy.

The Corporate-Fascist Government is.

Have the Federal Government return to it's limited form of government and we all prosper, according to our abilities.

Wed, 02/05/2014 - 19:34 | 4406015 Mr Beale
Mr Beale's picture

The 1% are the corporate fascist government. 

Wed, 02/05/2014 - 20:17 | 4406171 ejmoosa
ejmoosa's picture

And just what was OBama's income when he was elected?  Pelosi?  Reid? Boehner? McCain?

 

Take those folks out of the equation and the corporate half of the equation's got no legs.

 

 

Do NOT follow this link or you will be banned from the site!