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Luxury Brand CEO To The Poor "Stop Whining... Or Move To China"

Tyler Durden's picture




 

Ironic perhaps on the heels of President Obama's minimum-wage-hike executive order - and our discussion of the salaries for public and private employees in America, we find the following...

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

The following clip from CNBC of Nicole Miller’s CEO Bud Konheim is absolutely disgusting. Then again, this simply continues the recent trend of wealthy people coming on financial outlets and telling the poor how they are supposed to feel.

Rather than me rewriting what I already wrote on this topic, I encourage you to read my very well received post from last week:

An Open Letter to Sam Zell: Why Your Statements are Delusional and Dangerous.

This is how I ended that article:

I don’t think you’re a bad guy with evil intent. I think you are a money obsessed financier who hasn’t taken the time to actually understand what is really going on within your own country because you have your head so far up your own ass. It’s hard for anyone to actually look at themselves in the mirror and be honest about themselves and the myths they create. However, history shows us that when decadent plutocrats are unable to do so, we end up with disastrous situations. Situations which are often times violent and result in despotism. A situation I desperately hope to avoid, and I truly hope you and others like you recognize your error before it is too late.

While the CNBC clip below is priceless, equally disturbing are the results from CNBC readers to the poll question:

 

Perhaps they could try asking poor people questions about themselves for a better perspective.

"So we're talking about woe is me, woe is us, woe is this... the guy that's making, oh my God, he's making $35,000 a year, why don't we try that out in India or some countries we can't even name."

Now check out the video:

 

 

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Thu, 02/13/2014 - 03:12 | 4431438 Tall Tom
Tall Tom's picture

I actually keep a log...a BLACK BOOK.

 

I add liars' names and Fraudster's names as I continue to...

 

SHARPEN MY COLD STEEL.

 

IP's will not be that hard to track. If the NSA can do it what makes others think that they, themselves, cannot?

Wed, 02/12/2014 - 18:05 | 4429857 QQQBall
QQQBall's picture

These guys are too stoopid to shut-up... Let them eat cake has bacfired before. 

Wed, 02/12/2014 - 18:12 | 4429882 jmcadg
jmcadg's picture

Oh, did I miss something ... the guy on $35k is trying to live in the US on that. 

Or are you saying he can move to India and be paid the same salary, or commute from there!!! You dumb fuck.

 

Did you hear Joe smoe try to tell his co anchor to listen to this guy (he really knows what he's talking about).

Then continues to butt in because he loves the sound of his own voice.

You absolute fuckwit.

 

Give 'em all $35k salaries, even though they are not worth it.

Let them try.

Wed, 02/12/2014 - 19:02 | 4430081 Pareto
Pareto's picture

+1 Best post on this yet

Wed, 02/12/2014 - 18:27 | 4429901 Son of Captain Nemo
Son of Captain Nemo's picture

To recycle a 'Knuckles' comment on a similar dickhead...

This guy should be a disembodied head searching for the end of a stick!...

On the "official poll" taken with the 4% that are undecided?  You can remedy that by not taking seriously any polls on business conducted by MSNBC...

Remember MSNBC is so bad even Maria Bartiromo had to leave it!

Wed, 02/12/2014 - 18:21 | 4429919 NuYawkFrankie
NuYawkFrankie's picture

"The 99 percent? Let them eat Gefilte fish"

- Bud Konheim

Wed, 02/12/2014 - 18:25 | 4429928 Dimons jock
Dimons jock's picture

Lead the way Bud - We're right behind ya!

Jerkoff ...

Wed, 02/12/2014 - 18:26 | 4429938 CitizenPete
Wed, 02/12/2014 - 18:28 | 4429943 Unwashed
Unwashed's picture

The perfection of warped perspective:

 

The beneficiaries of corruption think the victims of corruption are whining ingrates.

The middle class blames the poor. The poor blame the Republicans.

Whites blame immmigrants. African Americans blame whites.

Immigrants are told they are due a bigger slice of the corruption pie.

 

The angry get sucked into responding to non-sensical blatherings...

all the while the corruption grows

all the while wealth & power is transferred to the hands of the few.

 

The arrogant, psychopathic element running Wall Street, Washington, State Capitols and largest City Halls from sea to sea.

 

Wed, 02/12/2014 - 18:34 | 4429970 rtinder
rtinder's picture

Come on people. The uber rich are about 1/10 of 1% while the poor are 30%. What good does it do to beat up on a tiny handful when 90 million are directly or indirectly suckin' off the government? Kill the handful and we'd still have 90 million. Class warfare is what happens in a our jobless recovery so the pols don't get the guillotine.

Wed, 02/12/2014 - 19:24 | 4430192 Accounting101
Accounting101's picture

Yeah, Jamie Dimon and Loyld Blankfein are doing God's work. They earned that $23 trillion taxpayer bailout. Not like the 90 million suckin' on the government.

Class warfare? That implies actual fighting. The middle and lower classes have been getting their asses kicked for the last 40 years without so much as a whimper.

Wed, 02/12/2014 - 18:37 | 4429981 myshadow
myshadow's picture

Meanwhile that asshole joe kernan is egging him on.

Wed, 02/12/2014 - 18:37 | 4429982 NEKO
NEKO's picture

Let them eat cake...

Wed, 02/12/2014 - 18:41 | 4429987 El
El's picture

A person can live quite comfortably on $35k a year if they don't jump on the debt bandwagon. I agree with this guy...the poor never had it so good as they do in this country. Even our poorest have televisions and cell phones.

All people ever want is just a little more than they will ever have.

Wed, 02/12/2014 - 19:26 | 4430205 Accounting101
Accounting101's picture

Right, the poor never had it so good. What's the life expectancy of a male/female living in poverty? No radio listening bullshit. Just data.

Thu, 02/13/2014 - 10:33 | 4431959 El
El's picture

Don't people realize the difference between wants and needs? You will never have everything you want. If your $35k was magically transformed to $65k or $165k, you still would want more. How long does that $5 cup of Starbucks or the latest new toy make you feel happy and satisfied before you want something else? $35k a year is not poverty.

Some of you are living in fantasy land where if you could just get a little bit more of the pie you would then be happy. Look, bud, happiness doesn't come from possessions, but you just keep right on looking for it there until you come to that realization on your own.

I guess I'm just low maintenance.

Wed, 02/12/2014 - 18:42 | 4429999 czarangelus
czarangelus's picture

Wall St has done a great job at painting their victims as welfare queens while they grow fat on freshly printed fiat.

Wed, 02/12/2014 - 18:55 | 4430048 MagicMoney
MagicMoney's picture

The people who earn 35,000 dollars in the US are among top wage earners in the world. Yes that is correct. Thing is people naturally want more things. This is human nature. This is why cheap credit allows people to binge on more consumption. They are not happy with the amount of stuff their real gross wage purchases for them, so they go into debt. Carl Menger, Willam Stanley Jevon, and other marginalist already explained this. Though Carl Menger more accurately. People place a lower value on things they already have, and want something else. The people who earn 35,000 in the US are much better off comparatively to most of the world. Mises already explained envious attitude in his book about anti-capitalist mentality. People envy the successful, because they themselves feel they deserve more. They have their own perception of what their own abilities have value of and what of other peoples. Mises already wrote about all of this, and it's amazing how accurately how he hit the nail on the head.

Wed, 02/12/2014 - 22:59 | 4430943 Cthonic
Cthonic's picture

Soros pocketed over $5 billion last year.  You?

Wed, 02/12/2014 - 18:56 | 4430067 1000924014093
1000924014093's picture

 . . . and fwiw, Konheim was born into big money, silver spoon, Exeter Academy etc

Wed, 02/12/2014 - 18:57 | 4430068 1000924014093
1000924014093's picture

stupid double post.

Wed, 02/12/2014 - 18:59 | 4430070 BullyBearish
BullyBearish's picture

Bud Konheim...a Pharisee, Sadducee or a camel?  Just how big is that needle?

Wed, 02/12/2014 - 18:58 | 4430074 Pareto
Pareto's picture

What an asshole!

You can't make that kind of comparison for a million reasons.  First, while nobody wants to live like they might in India, they sure as hell they don't want to live that in the country that is supposde to be the most prosperous in the world.  Second.  $35K, I suppose, could be considered wealthy if you didn't have to give up half of it to tax and basic necessities.  But I would simply ask this ass clown one thing:  Do you really think the individual living in poverty in India is any less wealthier than the same individual living in povery over here?  I mean forgetting EBT and all that, relatively speaking, which one actually has more economic freedom?  Thats really the question that should be asked.  In my opinion.

Wed, 02/12/2014 - 19:13 | 4430146 MagicMoney
MagicMoney's picture

Sure everybody wants to live like millionaires. Tell us something which isn't plainly obvious. Yes the poor in the US enjoy much more higher standard of living than the poor in India. Poor in the US are fat, have cell phones, housing, etc. They don't enjoy the same type of purchasing power that the US poor does. Sure you could blame on fat americans on GMO conspiracy or whatever. Fact remains the poor in the US are in better shpae, and average wage earner are far better than most of the world. 35,000 USD is top 1% in the world, how about we redistribute that 1% wealth to the rest of the world shall we?? Come on be nice.

Wed, 02/12/2014 - 19:16 | 4430157 Golden Showers
Golden Showers's picture

Ok, well I think that Mike's final paragraph above was a simple attack against the man, coupled with appeal to emotion. That he wants sloppy seconds and a pat on the back for sniffing out what we all know is a simple circle-jerk main stream media tempest in a teapot is, well, entertaining and provides some chatter on a sympothetic blog.

Don't get me wrong, I relish attacking people on this forum and telling everyone how stupid they are. That's because I'm an asshole, and I pat myself on the back for being a dick to every last retard who proves me right on this mother fucker.

But the last thing i'm going to do is try to pass off my stupid shit as journalism. And that's why I don't buy the stupid pundit's on TV or the poorly worded retort by an economist who can't break down some numbers and provide evidence for what he's trying to say.

Of course, evidence and facts are boring. Let's direct our 2 minutes hate at some people who are doing it wrong and pointing thier middle fingers in our faces in a sad, clumsy manner indicitive of those, whom, like most of us, don't work for a living anyhow. Oh, I mean, like, due to rounding.

This is what happens when most people are too weak, lazy and stupid to fulfull their life's destiny any other way but on the knees. That's why you deserve what is on your hi-def flat screen plasma displays. It's your mirror and you should take a good look at yourselves and like it.

Thu, 02/13/2014 - 04:03 | 4431486 Tall Tom
Tall Tom's picture

I do not own a Flat Screen Plasma TeeVee. I do not have a need for a TeeVee at all.

 

What I do have a desire for is to take down those whom do not work for a living and are arrogant to blame those that do for their lot.

 

I do not have a problem with the rich. I do have a problem with duplicity and arrogance.

 

So I take my time, educate myself, educate others, and make plans for the Social Chaos approaching.

 

TeeVee merely would serve to distract me.

 

As for you? You make it that much easier.

Wed, 02/12/2014 - 19:17 | 4430166 Dre4dwolf
Dre4dwolf's picture

obamas wage hike is already causing layoffs all it did was take people who were earning 8$an hour and turned them into people earning 0$ an hour .

Wed, 02/12/2014 - 19:18 | 4430169 Dimons jock
Dimons jock's picture

Best part of all of this is Kernan agreed with him, fucking classic

Hey Joe I'd respect you more if you had the guy who sweeps the floors & clears the clogged toilets to sit down opposite of Uncle Bud & got the "other side of the coin" perspective, you fucking loser

Thu, 02/13/2014 - 08:33 | 4431699 headhunt
headhunt's picture

Do you even know what a union janitor makes in NY - obviously not

Wed, 02/12/2014 - 19:36 | 4430236 TORNasunder
TORNasunder's picture

I'd pay $35,000 to watch this guy live off of $35,000 for a year... with 3 dependents. Then let's see what he has to say.

I even pay to have both feet surgically removed from his mouth!

Thu, 02/13/2014 - 08:32 | 4431685 headhunt
headhunt's picture

Sorry - but why do you have three dependents when you make $35k a year?

You are feeding directly into the leftist trap which is to divide the population into groups and pit them against each other. This leaves them time to steal your money in the name of 'insert disaffected group here' that they created.

Don't fall for this slow motion destruction of your freedom and the US as a whole.

Pay attention to what's behind the curtain.

 

Wed, 02/12/2014 - 19:42 | 4430265 tawdzilla
tawdzilla's picture

Fuck you Bud

Wed, 02/12/2014 - 19:52 | 4430320 Freewheelin Franklin
Freewheelin Franklin's picture

Maybe he should move to Zimbabwe. He can have all the devalued currency his little stone heart desires. 

Wed, 02/12/2014 - 20:00 | 4430342 esum
esum's picture

the poor are outfucking the middle class.... 

Wed, 02/12/2014 - 20:04 | 4430363 loveyajimbo
loveyajimbo's picture

He would make a nice target for the "Knockout" game... probably scream like a little girl and slide a Snickers into his knickers...

Wed, 02/12/2014 - 21:08 | 4430538 hadriansnightmare
hadriansnightmare's picture

“We had a 23-room house on a few acres of land in the suburbs on the south shore of Long Island,”

This is how this guy suffered through the great depression.  You try raising a family on 35k you low life.  As long as hard work doesn't lead to a brighter future this gap will continue to grow.  I know a pile of people dumbing down their incomes to qualify for obamacare.  Jump in the friggin hammock either with a goverment job or every benefit you can qualify or cheat your way into.  It's the new american way.  PS-I aint no socialist, this transfer (theft) of wealth that only 1% of the people have a handle on is my beef.  

Wed, 02/12/2014 - 21:12 | 4430551 Carl Popper
Carl Popper's picture

Wait a minute!

No one told me this guy was Jewish!

OK. I am with you guys. Take his il-gotten money. Redistribute it all.

Wed, 02/12/2014 - 21:38 | 4430633 kurt
kurt's picture

The more the rich set themselves apart, the more they set themselves apart.

 

Keep digging a-holes.

Wed, 02/12/2014 - 22:00 | 4430701 Clowns on Acid
Clowns on Acid's picture

Justr another Obama supporter.... supporting illegal immigration to artificially depress wages in the US.

Which President passed the 2 bills that eventually compl;etely fucked the middle class and then currency, and then the country.

Why it was no one else besides Bill Clinton that passed NAFTA and repealed Glass Steagal . Well sure Sandy Weill and Bob Rubin paid Clinton millions later, but those 2 bills (and the CRA Act put on 'roids by Clinton) that has collapsed the UWSA.

Thanks Bill , thanks Hollywood !

Wed, 02/12/2014 - 22:01 | 4430707 leekyuranus
leekyuranus's picture

Whatever you are earning, wherever you live, you have got to live within your means - duh! If you cannot afford the latest phone, or to drive a car, or even have a flat screen TV (shock!) then you cannot have one. 'Poor' - above a certain level of survival - is relative. $35,000/yr is $700/wk. Are you 'poor' living on that? Maybe I cannot afford a car or to eat out on that. But poor?

Thu, 02/13/2014 - 08:24 | 4431680 headhunt
headhunt's picture

I have been poor and would have welcomed that life style.

Would I want it now? No, but that is not poor.

The division of America into groups pitted against each other enables the left to rule.

Wed, 02/12/2014 - 22:47 | 4430896 blindman
blindman's picture

Company Responsible For West Virginia Chemical Spill Skips Congressional Hearing
BY EMILY ATKIN ON FEBRUARY 10, 2014 AT 4:11 PM
http://thinkprogress.org/climate/2014/02/10/3273201/freedom-chemical/
.
Tuesday February 11 2:00pm
http://archive.wbai.org/#ankor19

Wed, 02/12/2014 - 23:05 | 4430962 Ziggypig
Ziggypig's picture

Why do we even give a fuck what this old fart has to say! 50% of you will agree with him and 50% won't. We can argue this point forevever and we won't get anywhere. All this proves is how polorized we have become and how we love to argue about stupid shit CNBC and the other ass clown media puppets show us on TV. Wake the fuck up people!

JC

Wed, 02/12/2014 - 23:11 | 4430976 gdpetti
gdpetti's picture

dupe

Wed, 02/12/2014 - 23:09 | 4430977 gdpetti
gdpetti's picture

Same historical pattern in every empire, the oligarchy speaks of freedom, democracy et al 'for the people'... but they only consider themselves 'the people', everyone else simply doesn't count.... So exporting jobs isn't an issue, a living wage isn't even on their radar screens.... the 'affluenza' issue speaks loudly to this. Throughout history... rich vs poor, or rather the members of the powerful vs everyone else. Democracy is just a means of fooling the masses into thinking they are more than sheeple, that they care etc.

This ends the same way everytime.... 'dark ages'... just wait a few months and see, and in the meantime, don't stand too close to any of these negative vectors, they attract trouble.

Thu, 02/13/2014 - 08:14 | 4431669 headhunt
headhunt's picture

History has shown it is always the leftist who kill empires they did not build.

They suck the blood like the parasites they are until only a hollow corpse is left and then blame the host for not having enough blood when it dies.

Fuck the whining bunch of leftist who are intent on destroying America and do so by giving up our true freedom by dividing us into classes and pit each group against each other while they count the money they have stolen from you in the form of taxes.

Whiners in front of the big screen TV's playing video games and feeling sorry for themselves because some leftist told them they are a victim.

 

Wed, 02/12/2014 - 23:15 | 4430987 gearbaby
gearbaby's picture

What an asshat

Wed, 02/12/2014 - 23:32 | 4431032 gwar5
gwar5's picture

The guy making $35K today is the one who made $70K yesterday but has the same mortgage. And the guy who made 35K yesterday is now on foods stamps.

Problem is the economy is in the clutches of people who want to bring us down to India's standard of living instead of bringing India up to ours.

 

 

Wed, 02/12/2014 - 23:33 | 4431035 gwar5
gwar5's picture

The guy making $35K today is the one who made $70K yesterday but has the same mortgage. And the guy who made 35K yesterday is now on foods stamps.

Problem is the economy is in the clutches of people who want to bring us down to India's standard of living instead of bringing India up to ours.

 

 

Thu, 02/13/2014 - 06:27 | 4431583 therearetoomany...
therearetoomanyidiots's picture

Bingo!

Thu, 02/13/2014 - 08:06 | 4431657 headhunt
headhunt's picture

This is what you get when communists run things and these are the worst kind of communists, elitist, arrogant, idiots who would be sucking dick on a street corner if not for living off of other peoples efforts.

Wed, 02/12/2014 - 23:34 | 4431037 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

Hey, Bud!  What's your problem???

http://www.youtube.com/watch?v=bMtdrKIdDgE

You dick!!

(fast forward to 2:00 mark).

Wed, 02/12/2014 - 23:41 | 4431054 Flamin Rhoid
Flamin Rhoid's picture

I'd like to see this silver spoon garglin fuck try to make it a 1930 Market.

Wed, 02/12/2014 - 23:56 | 4431096 ZeroFreedom
ZeroFreedom's picture

Nail Gun time.

Wed, 02/12/2014 - 23:56 | 4431101 hangemhigh77
hangemhigh77's picture

Yeah right this guy participates in "Caitalism". Let's see all the dirty inside deals he's done.  Let's see how many times his government buddies have handed him free business.  Let's see if he got a bailout.  I submit that not only has the Fed been bailing out banks but they're bailing out businesses too.   And do we REALLY believe that they're only printing 55 billion for QE now? Or that they were only printing 85 billion?  How the fuck would we know what they're printing? Why would they tell us?  We assume that THESE numbers are the ONLY numbers they would actually tell us the TRUTH on?  REALLY??  Basically if they're telling me what the number is I can assume they're lying about 100% of the time.   HANG ALL TRAITORS, politicians, banksters CEO's.

Thu, 02/13/2014 - 00:04 | 4431116 Ned Zeppelin
Ned Zeppelin's picture

I am proud to see that my fellow ZHers can spot the dick wad when it presents itself.

What a piece of merde, pure vermin. But think of those who think the same way but are far too clever to voice these sentiments. 99.9% of the 0.1% completely agree with this used tampon of a human being. No souls, complete psychopaths. Our system richly enables and rewards them.

And now back to the storm called Pax.

Thu, 02/13/2014 - 00:26 | 4431169 walküre
walküre's picture

The tailors and merchants supplying Versailles and its court sounded probably just like this guy. Once their established clientele had lost their heads, these designers and craftsmen had to serve the plebs which they despised just as much as their shrunken clientele of days past.

Konheim will sing a different tune when this regime and its faux nobility fall. Who needs the parasite class anyway? It's not like they're contributing anything to make my day any brighter or more enjoyable. Just because their name is attached to a balance sheet. Tsts.. nothing that can't or won't be adjusted one day. Fair? They want fair? No they don't. They know they're not playing fair. They have a firewall between us and them. That firewall is the army of federal workers. That army needs to be paid and needs to be paid well or the gig is up. Guess what? The greed has left them no choice but to dilute the payments to their workers. Better hope the workers don't find out or else...

Got gold, silver, land and a few real manly skills? You'll be fine.

Thu, 02/13/2014 - 00:28 | 4431174 Demogorgon
Demogorgon's picture

Fuck this guy. Fuck him.

Thu, 02/13/2014 - 00:35 | 4431198 Kina
Kina's picture

Madam Guillotine loves his type of guy.

 

Imagine the joy of the average French peasant when arrogant atristocratic fucks, like this guy, shit their pants as they were dragged up to the guillotine.

 

Thu, 02/13/2014 - 00:40 | 4431206 Graph
Graph's picture

My understanding is that some ZH posters kind of admire this  guy? I am talking about readers of this blog who walk around with well worn "The Book" above all books, Rand's "Atlas...". He's rich (dream of many), not asking for "free" stuff, more likely  a  "job creator"? He can afford to be an a-hole...?

In the mean time "The FIF" banker (JPM) did himself...

Thu, 02/13/2014 - 01:08 | 4431262 Liberty2012
Liberty2012's picture

It's a double twist back situation. Everyone is part of the problem.

For most people who work, all they know is that they work hard and earned their money. For those that don't work, they know that's how the system works.

Neither are looking beyond to see the whole truth. Variations are an understood thing. Most don't feel the need to look farther than their personal slice of the world.

"The price of anything is the amount of life you exchange for it."
- Henry David Thoreau

I find the above quote encompasses much truth that most people grasp immediately. It's one of those things that used to be understood, but has been forgotten somewhere along the way.

Spread the truth ;)

Thu, 02/13/2014 - 01:21 | 4431292 First There Is ...
First There Is A Mountain's picture

Admittedly, I have never contributed much to this site despite having followed it from day one. After reading many of the comments on here, I think I'm about ready to bid ZH fare thee well. I can recall a time when this site was frequented by posters with genuine insight into finance, the economy and geo-politics. Now, it's pretty much degenerated into a collection of sanctimonious assholes seething with contempt for everyone not identical to their own "imagined" selves. 

In your slothful minds, everyone who hasn't succeeded has failed to do so through some character flaw. Your mythological inner city welfare millionaire is a figment of your drug addled, alcohol soaked minds. In all reality, those of you puffing out your chests proclaiming your Protestant work ethic and "suck it up" attitude are most likely the same fucking dickheads who inherited their wealth like this POS featured above. Most of you, I'M FUCKING CERTAIN, did not in fact pay for your own college tuition and probably had daddy bail your sorry little asses out of frat house style troubles more than a few times.  

You clearly weren't born into a socio-economic caste system that condemns many to a lifetime of little to no opportunity. So tell us all about it all you tough talking, effete self-satisfied fucknuts. Share your tales of woe. Tell us how you clawed your way out of the mean streets of Lake Forest or Bloomfield Hills. Many of you speak about divisiveness. Bitch, please. No one does it better than you class warriors. You angry little internet tough guys would be better served focusing on how YOU'RE going to stay alive when those same dregs of humanity single out your plump asses for extermination. Oh, right - I forgot. All you ZH'ers are natural born killers owing to your rigorous paintball training and tactics. 

Thu, 02/13/2014 - 01:53 | 4431344 MeelionDollerBogus
MeelionDollerBogus's picture

Mwahahahahaha let them eat cake!1

1 cake is FEMA-camp rations2

2FEMA camp only serves soylent green

 

Thu, 02/13/2014 - 02:06 | 4431366 Crawdaddy
Crawdaddy's picture

We gather here to rain shame on the evil fucktards of banksters, crony govt, crony biz, crony edu, crony etc.. Spare me the socio-economic caste sytem marxisty drivel.

Thu, 02/13/2014 - 02:24 | 4431393 beechmi
beechmi's picture

Thanks....great post!

Thu, 02/13/2014 - 02:25 | 4431396 Spectre
Spectre's picture

Don't let the ZH server door hit you in the ass.  You pompous ass wanna-be know it all.  Not even the majority here that comment, are from the backgrounds you mutter.

You've been here since day one on ZH, Bullshit.  What short length you've been here is your own fault if you haven't contributed to any conversation.

I'm 58 and have earned my 1% position completely on my own.

Thu, 02/13/2014 - 02:57 | 4431421 First There Is ...
First There Is A Mountain's picture

Walked 15 miles uphill both ways in 3 feet of snow, did you? Lol.

Thu, 02/13/2014 - 04:00 | 4431482 Flatchestynerdette
Flatchestynerdette's picture

Then you remember when it was merely a blog that has/had the most up-to-date information on the meltdown in 2007, earlier it was the housing bubble, earlier than that it was the internet bubble and ZH's take against Cramer, and the Thai bhat downward spiral in the late 1990's (around 1996).

OK - now that we've reviewed financial history, let's get to the substance of the remarks on the video that CNBC played. The CEO is right. The poor here in America have flush toilets, cell phones, food stamps, health care (long lines and paperwork not-withstanding at the local county hospital), and subsidies for heat. If they are homeless, that's a slightly different type of dog, as they need an address for any government check & they need a bank account for the government check to go into as direct deposit. They want to track the homeless person's movements I guess by watching how much they take out of their account & the bank gets a portion for handling the account. This is criminal imo. The need for an address, the need for a bank account, to get government assistance = a military state.

Which is why many homeless people prefer to panhandle, get food from foodbanks, shelters, roving vans that help the homeless, etc. This is the cost of freedom in this country.

The CEO is making a wrong distinction between poverty and freedom imo. Even in India, there is the same systemic & mechanics put into place to handle poverty but its not as well funded. Whether people participate or want to keep their freedom is a different story.

As for your condemnation of those that read this website &/or comment - I worked my way through college & got loans. It wasn't fun when I figured out after I graduated how much I'd need to make to make the minimum payments. They don't tell you that in college. They just throw money at you for what you qualify for and this I blame the banks as well. They want to take your freedom. They want to take your money. They don't want to give you your money back until they hold it for 5 days. They want to interrogate you as to why you're taking your money out. Go with cash. Get your paycheck & cash it into cash then get money orders for $3. It gives you a sense of freedom you don't have with the bank.

 

Thu, 02/13/2014 - 05:49 | 4431559 JDFX
JDFX's picture

Just ignore the comments?   ZH still provides some cracking articles. 

 

All the best.

Thu, 02/13/2014 - 01:24 | 4431298 Impotent_Smurf
Impotent_Smurf's picture

I'm the king of wishful thinking....

Thu, 02/13/2014 - 01:33 | 4431316 lakecity55
lakecity55's picture

Hey, that sounds like a kind of "tribal" name.

What does he care about poor 'cattle?'

Thu, 02/13/2014 - 01:38 | 4431325 e_goldstein
e_goldstein's picture

Bud Konheim is right. When sharpening the tines of their pitchforks, people should be muttering angrily to themselves, not whining.

Thu, 02/13/2014 - 03:22 | 4431450 Johnny Cocknballs
Johnny Cocknballs's picture

Poor Bud was born on third base. He's got acute affluenza. He's consequently suffering from anoscuntognosia - a lack of awareness that one is a cunt.

Thu, 02/13/2014 - 05:26 | 4431545 rsnoble
rsnoble's picture

Cool so 50% of the US thinks its ok because everyone else is so says a billionaire.  Goddamn im surrounded by a bunch of stupid motherfuckers it's no wonder these rich jackasses get their way when 50% of the country will drop to their knees and suck cock.  I didn't sign up for this globalist bullshit this motherfucker needs a person that has lost everything in this economy to pay him a visit with their little friend.

Thu, 02/13/2014 - 06:49 | 4431601 3rivers
3rivers's picture

I'm not a fighter, so I did what he advised.  I moved to Thailand.  But I did vote for Perot and Nader, every time. 

Thu, 02/13/2014 - 06:47 | 4431566 3rivers
3rivers's picture

He's getting a little bit behind. Instead of China as the example, he should have used Indonesia or Bangladesh.  China isn't much different anymore from the USA, demographically, except for the absolute number of folks.  In other ways too, such as both are plutocracies with a single party system.  Give them time though and we will be even more similar because, with a larger middle class, while ours disappears, they (the Chinese) will have to have a much more "tricky" and sophisticated indocrination system, but Hollywood and Madison Avenue can help them get it done in a jiffy.

Thu, 02/13/2014 - 07:09 | 4431611 headhunt
headhunt's picture

I have been poor and well off in America and will take either one over the rest of the world.

When I say poor, I mean wondering where my next meal was coming from.

The problem in America is the 'can do' attitude has been taught out of our society and a majority of people are in the 'poor me', 'what about me' mindset which will paralyze a person in their low economic strata.

This is why when the big correction comes we are F'd and a wannabe dictator like zero will fill the vacuum.

Thu, 02/13/2014 - 07:34 | 4431635 Flux
Flux's picture

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” 

-Warren Buffet

Thu, 02/13/2014 - 07:39 | 4431640 barroter
barroter's picture

Wonder how successful these capitalists would be if we pulled every stimulus penny, confiscated every QE dollar, yanked every gov't subsidy and revoked every law, regulation or tax code that benefis them.  Could they last past 4 hours?

Thu, 02/13/2014 - 07:44 | 4431642 Flux
Flux's picture

“There's class warfare, all right,” Mr. Buffett said, “but it's my class, the rich class, that's making war, and we're winning” (Stein 2006). Readers of The Undisciplined Economist may recall the same point being made slightly earlier that year (Evans 2006). There, we drew on the work of a number of quite disciplined economists – humble, useful people – who have demonstrated from taxation statistics in a number of countries the dramatic shift after 1980 from a relatively stable post-war income distribution to one that was becoming rapidly more unequal – and still is.

Buffett's methodology was somewhat less formal.

[He] compiled a data sheet of the men and women who work in his office. He had each of them make a fraction; the numerator was how much they paid in federal income tax and in payroll taxes for Social Security and Medicare, and the denominator was their taxable income. … The people in his office were mostly secretaries and clerks, though not all.

It turned out that Mr. Buffett, with immense income from dividends and capital gains, paid far, far less as a fraction of his income than … anyone else in his office. (Stein 2006)

And this without the aid of sophisticated “tax planning” (tax avoidance) advice. Mr. Buffett just filled out the IRS forms.

“How can this be fair?” he asked, “How can this be right?”

Thu, 02/13/2014 - 07:47 | 4431646 pndr4495
pndr4495's picture

It strikes me that Henry Paulson was whining for taxpayer funds to bailout banks who , ooops , made bad trades , ooops , errors in trading; and the only trough big enough to bail said banks out was the public trough.  As the profession of floor execution of orders was being zapped out of existence on the trading floors , placards were put up saying, " Too Small to Matter." Of course , politics is about power , its exercise , who has it , and rarely does it involve looking compassionately on the unfortunates who DO NOT hold power. People are people and when the poles shift there will be a lot of resentment lurking behind feigned smiles.

Thu, 02/13/2014 - 08:06 | 4431662 kellycriterion
kellycriterion's picture

Note to ZeroHeros:concepts for a smidge of clarity

1. Net taxpayers vs net tax receivers, the dividing line isn't income.

2. There's more to taxation than just taxes. Inflation, currency manipulation, financial repression, faux borrowing, the real "crowding out" not the economist's idiotic version, new version of fractional reserve and cartel bank franchises.

Thu, 02/13/2014 - 09:45 | 4431837 headhunt
headhunt's picture

All brought to you by your friendly neighborhood leftist.

Thu, 02/13/2014 - 10:11 | 4431930 tradewithdave
tradewithdave's picture

Zell, then Wilbur Ross and now this bow tie apologist... hmmm? I smells something in the water.  I guess you have to be careful in a saltwater bail-in that you don't accidentally bring a shark aboard.  Could barriers to entry be turning into barriers to exit?  Maybe its just a small one percent cut and a band aid will cover it.  There... mommy kiss it... all better. 

Thu, 02/13/2014 - 10:17 | 4431950 bulltraderpt
bulltraderpt's picture

What a wanker. Remember what the French did to their arrogant classes when the revolution came? Hope he locks his dorrs at night the prick.

 

Thu, 02/13/2014 - 10:45 | 4432041 SubjectivObject
SubjectivObject's picture

Like a CNBS poll is assumed to have any credibility in the first place.

What's the point for giving that impression?

Thu, 02/13/2014 - 11:37 | 4432256 bshirley1968
bshirley1968's picture

I wanted to take some time to think about this before posting and so waited until today.  I can see that there are a lot more thoughtful and insightful post today on this article.

The main problem here is flawed logic and manipulated perspectives.  A person making $35k in India is doing great.  Problem is trying to make $35k while living in India.  Wonder what the auto, home, health, life, dental, workers comp, unemployment, and various liability insurances are like in India?  Wonder what the sales, property, income, social security, medicare, franchise, taxes are like?  It is a shame the "trained" and educated "reporters" at CNBC couldn't challenge these statements instead of falling over one another to kiss this guys ass.

Thirty-five thousand dollars will barely get you by in the US.  Not our fault.  As pointed out by others, we the people, are not the banking industry that continues to create inflation to make the wheel keep spinning.  The same coke that cost 5 cents 40 years ago cost $1.50 today.  The same loaf of bread that cost 25 cents now cost $3.00.  Why, because the molecular structure changed?  No, because money was devalued so pricks like the guy in this article could have a billion dollars instead of a million and imagine that he somehow got somewhere in life.  The devaluation of money is a tax on all of us and it damn well hurts the fixed income poor or middle class a lot more than the people that have more money than they can spend in a life time.  This guy basically stated the equivilant of "Let them eat cake".  He is so out of touch with reality that he will probably never come back.  Maybe just before the angry mob chopped his head off.

Here is a little perspective.  I will use round numbers to keep the math easy.  A guy worth a billion dollars can earn $20,000,000.00 a year on the paltry 2% bond/savings rate with little to no "risk".  That in turn would pay 571 families $35,000.00 a year.  No one would have to turn a crank, lift a box, buy a gallon of gas, pay an electric bill, etc.  I have nothing against rich people (except when they lose their minds and try to tell me how good I have it and try to give lessons on thankfulness) but this is getting ridiculous.  It will only get worse before it gets worse.  People should be thankful for what they have and rich people should remember "God determines the fortunes of men" and there is nothing in this world that cannot be taken away.  I hate class warfare and think it is one of the most hateful, manipulative tools ever conceived but I see it growing big time here.  And I fear the next "revolution" in this country will mirror the French blood bath and the end will be worse than the beginning.

Thu, 02/13/2014 - 11:47 | 4432301 realitybiter
realitybiter's picture

This seems pretty coordinated.  Like a couple of years ago when the PTB trashed the PMs prior to the OBVIOUS dumping of enormous contracts....so what's up with this?  Why try to make it seem like "there is no income inequality here...nonsense....ignore all those statistics...."  Are these guys just tring to keep status quo?  or is there something they are getting ready to push?  Maybe it is immigration reform, i mean, no Mexican left behind.  It would be better for America to just merge with Mexico.  At least then we would actually gain some assets in exchange for the enormous social liability....which is all we are getting with legalizing ilegal immigration.  Now if you can make it seem like we have no issue with the poor people that are already here then what the heck, lets ad 30 million more....

Thu, 02/13/2014 - 13:29 | 4432770 novictim
novictim's picture

.

Thu, 02/13/2014 - 13:30 | 4432771 novictim
novictim's picture

.

Thu, 02/13/2014 - 13:26 | 4432773 novictim
novictim's picture

Yes, the goal is to maintain the status quo.

That that mission is a fool’s errand is starting to be realized by a few of these lazy, entitled oligarchs and so they turn to sophomoric propaganda stunts like this one. It's 1929 all over again.
The future is slipping out from their attempts at control.
The country-club echo chambers of former stability and sanctity are being breached (ie Mitt Romney's private dinner speech extolling Chinese women laborers stacked 3 to a bunk).

The writing is on the wall and their days are numbered. In the shadows they are frantically pulling levers of power to crush dissent...we need to watch for that.

Thu, 02/13/2014 - 11:58 | 4432350 dizzyfingers
dizzyfingers's picture

why does voting for some remarks NOT work? been happening for a while...

Fri, 02/14/2014 - 07:07 | 4435813 MeelionDollerBogus
MeelionDollerBogus's picture

Any comment starting with italics can't be voted on.

Thu, 02/13/2014 - 13:55 | 4432705 novictim
novictim's picture

"Here we are a country that makes nothing anyone else needs...

....because people like me arranged trade deals that incentivized the loss of manufacturing jobs and the pennies-on-the-dollar transfer of American Tax Payer Funded technologies like LEDs, Solar Cells, etc…”

Can we start hunting down these traitors?  Are the pitch forks in the streets yet?

Here we have the USA, a country taken over by an elite oligarchy that control the political apparatus via massive campaign donations, and then these same fat and lazy, ego-bloated fools think to tell us that the country is going in the wrong direction?  That we need to stop whining? 

 

Guillotine assembly squads will be coming to this douche bag's gated community soon. 

Thu, 02/13/2014 - 22:48 | 4435084 notadouche
notadouche's picture

Ironically poor people aren't whinning.  It's the class warefare, anything for a vote political douchebags and media lapdogs that are doing all the whinning this idiot blames the poor for.

Sat, 02/15/2014 - 17:23 | 4440306 cape_royds
cape_royds's picture

Oh, just hurry up and shrug already.

The heavens didn't need to be held up that high. They weren't being held aloft for our benefit in any case.

Atlas is obsolete. His job can be offshored. And then he can finally--finally--quit bitching so damn much.

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