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Two-Thirds Of US Millionaires Fear "They Will Lose It All" If The Market Crashes

Tyler Durden's picture




 

It's not easy being a millionaire in the New Normal.

No really, because even though over the past 7 years every single Fed action has catered exclusively to the wealthiest 1% within polite US society, desperate to make them wealthier in hopes their combined trilions in net worth will magically "
"trickle down", according to another voyeristic UBS study into America's high net worth public, while "millionaires enjoy a great deal of happiness and appreciation for what they’ve earned... many feel compelled to strive for more, spurred on by their own ambition, their desire to protect their families’ lifestyle and an ever-present fear of losing it all. With memories of the financial crisis still lingering, most millionaires don’t have enough wealth to feel secure. As a result, many feel stuck on a treadmill, without a real sense of how much wealth would make them satisfied enough to get off."

It gets better.

UBS observers that "Millionaires’ constant striving comes mainly from pressure they feel to maintain the high standard of living they have established for their families, whom they value above all else. At the same time, millionaires worry this very lifestyle may be spoiling their children, causing them to lack motivation and feel entitled."

And so the Fed is also to blame for a whole generation of spoiled Millennials. But the punchline: "Millionaires feel stuck on a treadmill they can’t get off..." The reason:

Though two-thirds of millionaires say achieving financial security is the whole point of working to build wealth, only the very wealthy (those with $5 million or more) feel they have enough to be secure. Half of millionaires with less than $5 million—and 63% of those working with children at home—believe that one wrong move, such as a job loss or market crash, would have a major impact on their lifestyle. For individuals with at least $5 million, only 34% feel they couldn’t withstand a setback.

 

And so perhaps the biggest irony of the New Paranormal is revealed, one on which the entire failed central planning experiment was built on: by making the wealthy wealthier by means of a rigged, broken, manipulated market which everyone now realizes has zero basis in reality (stocks jump on bad econ data, soar on catastrophic data out of hopes of even more central bank liquidity), or fundamentals (not a day passes without the CFTC, SEC, or some other regulators humiliated by constant HFT spoofing or quote stuffing), they feel compelled to save even more than if the bulk of their wealth had been accumulated using honest means and ways.

In other words, instead of facilitating some mutated trickle down, the Fed succeeded in forcing the most upwardly mobile segment of society to spend as little as possible! And then the St. Louis Fed wonders why the US middle class is disappearing, something we first predicted would happen in 2009.

But what if millionaires had nothing to worry about: what if the Fed could guarantee that the stock market which it nearly singlehandedly tripled from its March 2009 lows would never crash, what would the millionaires above do with all that free time and disposable income?

UBS' answer: "the overwhelming majority of millionaires (87%) would do things differently. As much time and energy as they spend on their careers, they would rather enjoy a wider range of experiences, such as traveling and spending time with family. They would also be more likely to take chances, since many regret not taking enough chances in the past. Ultimately, millionaires are unlikely to step off the treadmill unless faced with a major life event (e.g., a health scare, retirement)."

 

Unclear which of these is "blow it all on hookers."

Oh wait, for the answer we go to the next panel of questions in which we find that "They regret relationship mistakes and not spending enough time with family"

And there it is: if the Fed wants to boost the sagging Vice index which consists of such components as hookers, booze and gambling - which is precisely what the above millionaires would first and foremost spend their money on - all it has to do is assure America's depressed millionaires that the market will never again drop. Ever. Pretty much precisely what it has been doing for the past 7 years.

 

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Mon, 05/04/2015 - 18:16 | 6060031 Deathrips
Deathrips's picture

Then Buy Things With No Counter-party Risk....

 

Physical Silver and Gold you morons!

 

Stack on.

 

RIPS

Mon, 05/04/2015 - 18:24 | 6060059 Stackers
Mon, 05/04/2015 - 18:56 | 6060180 MonetaryApostate
MonetaryApostate's picture

Too many leeches, not enough producers, and as the population numbers grow, well the global corps get wealthiers & everyone else gets shafted, but unfortunately that's also going to spill over to the governments & banks eventually because THE FRUAD CAN'T LAST FOREVER FOLKS!  In the end, those holding the major assets win & debted nations lose...

Mon, 05/04/2015 - 19:06 | 6060205 Squid-puppets a...
Squid-puppets a-go-go's picture

...er... is there anything preventing them from GETTING THE FUCK OUTTA THE MARKET!!??

fuck me, talk about dumb money. Pavlovian dogs, the lot of them

Mon, 05/04/2015 - 19:25 | 6060266 new game
new game's picture

my thoughts too. i only come here to see how much money i could have won(casino). but in all fairness, if i had got on board at 700, i would have sold at 1000ish. would i have got back in? hmmm, cause here we see 1800. i said fuck it and closed every brokerage account and never bought another share. now i buy land without improvements. last buy last week was 15 acres with beautiful white pines, white oaks and huge aspens. i get a woody thinking about sitting up there gazing at the serenity and quiteness. back up next weekend...fuck wall streets and the millions of tools...

Mon, 05/04/2015 - 20:21 | 6060436 Ward cleaver
Ward cleaver's picture

Really feel bad for the millionaire woman whose son is hooked on opiates and daughter dressed up in Goth look and calls mom by first name. Kids, oh yeah well ......

Mon, 05/04/2015 - 20:42 | 6060487 Pairadimes
Pairadimes's picture

What the hell are these people worrying about? Soon, we will all be millionaires - Zimbabwe style!

Mon, 05/04/2015 - 20:59 | 6060520 jbvtme
jbvtme's picture

the rich...uninspired and uninspiring

Mon, 05/04/2015 - 21:21 | 6060575 A Nanny Moose
Tue, 05/05/2015 - 07:06 | 6061141 Slomotrainwreck
Slomotrainwreck's picture

Two thirds of US Millionaires Fear "They Will Lose It All" If The Market Crashes.

 

One Third of them are delusional.

Mon, 05/04/2015 - 19:32 | 6060299 Stackers
Stackers's picture

Squid, not necessarily.... I was talking this over with a high net worth friend and there really is nowhere good to park "liquid" wealth these days. This is a person who owns, lots of gold, lots of income producing real estate, a large ranch with cattle and several businesses ....... at some point you can accumulate enough wealth that it's hard to put it all in "stuff", but still need a good portion of it "liquid". You dont want it in cash in a bank account for any number of reasons, with ZIRP rates high on the list, and keeping it in stocks and bonds that can be bought and sold at a moments notice has it's uses.

Mon, 05/04/2015 - 20:13 | 6060409 cigarEngineer
cigarEngineer's picture

The best return on investment is people. Get 10 sons.

Mon, 05/04/2015 - 21:23 | 6060580 A Nanny Moose
A Nanny Moose's picture

Soylent Green is people too.

Mon, 05/04/2015 - 21:27 | 6060586 g'kar
g'kar's picture

Best of all, it's freeze dried and lasts a long time.

Mon, 05/04/2015 - 18:25 | 6060064 cpnscarlet
cpnscarlet's picture

+1000

Mon, 05/04/2015 - 18:26 | 6060068 stocktivity
stocktivity's picture

It's all Bullshit!!!   Greece, margin debt, China crashing, blah blah blah.  6 years of this same doom & gloom and every day the Fed props up the house of cards. Just wake me up when it does crash.

Mon, 05/04/2015 - 18:45 | 6060135 Weaponized Innocense
Weaponized Innocense's picture

TZA woke up recently as it has lost a great deal of confidence recently. High yields HYG been rolling over ...
I think if they will give me a chance to accumulate my rattlesnake portfolio until next fall that would be nice... Or late summer. Or even next year.... I don't care....
I'm riding this bitch down.... As I started pulling off my longs on highs starting in December on the dows last high.... Couldn't stop myself as things got worse.
I'm usually pretty good with tops and bottoms when they don't fuck me with Al Qaeda or u know using airforce one to buzz New York like its 9/11 to spook me from my triple longs I grabbed on market low.... And it's just starting a long rise....
The bombs can flow and I'm not in margin so I can spring load my bets in nice lows and hope for a lower tax rate for long term shorts.
I believe it has already started. Though they make cleaning up messes look so easy with a little adjustment here, little erasure here, little bad bank merger there, little CDS here, little book write offs there....and the size of the debts to boot.
I'm up to 3000 uvxy thus far.... Sure ten thousand be just fine for the murderer if the portfolio.
I have 3000 faz but today's talk of the mother frackers settled the banks down some first time in a row... But I got those at a low price... And many other yummy things... And intend to get more.
Pretend all they want for a couple more years as if markets only go up! Let's rally like its 2020!!!! Come on Dow 19K.
Fall is when it's suppose to get ugly anyway. There isn't enough money to bail us out of this mess no matter how much one could print just to take good money to nullify it also on the same side of that parabola.
I know potential energy waiting to become kinetic ... And I am going to capture it hard.
Wake up when u want to....

Mon, 05/04/2015 - 18:49 | 6060144 lunaticfringe
lunaticfringe's picture

It's like we are living in some alternative reality where the people who made mistakes were rewarded and the people who did/do the right things get punished. And the whole mess is piloted by a charlatan. Yea I get it. 

Mon, 05/04/2015 - 19:07 | 6060208 Creepy A. Cracker
Creepy A. Cracker's picture

Yep.  WELCOME... to Obamaville (the government in general).

Mon, 05/04/2015 - 20:08 | 6060393 seek
seek's picture

Everyone I know like myself that lives modestly and are savers has been royally fucked by ZIRP, and the people I know that went nuts refinancing their houses for cash-outs for vacations, etc, got debt writedowns and renegotiated mortgages.

The message from TPTB is really fucking clear: spend your money and everyone elses, too, and fuck you all who save for tomorrow. They really do want as many people as possible to be as broke and poor as possible when this mess implodes; I can only imagine that it's intentional because it's a lot easier to sell socialism/communism to a country when almost everyone is the bottom of the pyramid.

Tue, 05/05/2015 - 06:18 | 6061083 Arnold
Arnold's picture

Some of you sharpies will make money on the way down.

Hurt most ( that don't deserve it) will be pension plans and retirement funds.

There is no sophistication of the investor there, even in the solvent ones.

Paper profit is one of those ephemeral things, turned to some other asset to protect the gain.

..........And pffft it's gone is never more apt.

Mon, 05/04/2015 - 18:31 | 6060070 espirit
espirit's picture

I will feel sorry for the newly 'poor' millionaires, so...

I'll make sure your good looking bitch brats get only the very best 'Johns'.

(If they already have some tramp stamps we know they have experience)

Mon, 05/04/2015 - 20:02 | 6060372 seek
seek's picture

While I agree with the advice, there's still value at risk even with PMs.

Imagine holding PMs, markets implode, and all those other millionaires are now broke. The purchasing power of your PMs may be far less than you imagine, because no one has any money to buy them. It will be infinitely more than those that stayed with fiat and got zero, but that's not saying much.

Goldbug though I am, I sleep better at night knowning I've got power from PVs, water from my own well, cases of canned food and a respectable inventory of prepackaged lead, copper, and brass messengers of doom, than I do knowing I've got some PMs at the bottom of a lake. As time wears on the disconnect on my opinion of PMs v. utility goods just grows wider.

Don't get me wrong, I am pro PM, but as the time draws more near I find myself wishing more for hidden bunkers and caches of useful things and less for the shiny.

Mon, 05/04/2015 - 20:15 | 6060414 cigarEngineer
cigarEngineer's picture

Build a safe-room. Defending from a position of surprise is a terrible disadvantage.

Mon, 05/04/2015 - 20:25 | 6060445 samsara
samsara's picture

Good Points all Seek.

" Gold is for optimists, I'm diversifying into can goods"

Au/Ag is for AFTER the crash period, Lead, can goods DURING the crash period.

Mon, 05/04/2015 - 18:16 | 6060035 GRDguy
GRDguy's picture

Gives new meaning to the phrase "Paper tigers,"  doesn't it.

Mon, 05/04/2015 - 18:24 | 6060058 booboo
booboo's picture

"mistake in my relationship with my family"??

WTF? Tripped over the coffee table and got my dick stuck in the wifes sister??? That kinda mistake?

 

 

 

Mon, 05/04/2015 - 18:26 | 6060041 Shizzmoney
Shizzmoney's picture

In poker we learn (esp after the DOJ internet busts): "If you don't have it in your pocket, then it's really not in your bankroll."

Apparently, 2/3rds of "millionaires" in the stock market haven't heard these things called, "hedging" or "diversifcation".  Just go all in on the DOW while the Fed does, baby!

RE

Half of millionaires with less than $5 million—and 63% of those working with children at home—believe that one wrong move, such as a job loss or market crash, would have a major impact on their lifestyle. For individuals with at least $5 million, only 34% feel they couldn’t withstand a setback.

Interesting dyanamic here because:

a) 50% of America, on the other end of the income spectrum, would say the exact same thing

b) Remember when a million was worth more than just "something".  It would literally be a life changer.  Now? It just affords you a comfortable life of happiness, especially after taxes/inflation costs on things we need/costs of education and child-rearing (optimally).  Before, if one won a million dollars on a gaem show, he'd take care of his needs AND could send his kids to college AND buy a house AND buy a car AND buy shit for the house.

Now that guy will be lucky just to have enough to live off of it for 5-7 years. The "new" number is now $5 million to be a 100% "life changer".

Thanks QE!

 

Mon, 05/04/2015 - 18:49 | 6060151 WhackoWarner
WhackoWarner's picture

I disagree.  Any person who knows the buying power of a dollar and the value of a garden....a million bucks is a life changer.  If someone does not know how to budget that money into some form of independence then they deserve to live and die on Wall St.

 

Foolish thought.  Foolish premise.  And foolish expectations.  There is nothing wrong with a simple life and I suspect most of these "unhappy" millionaires would benefit from a year or 2 of paycheck to paycheck.

 

Mon, 05/04/2015 - 18:18 | 6060042 q99x2
q99x2's picture

They could collectively start a crowdfunded operation to arrest them or at least pay the bastards to do their job.

Mon, 05/04/2015 - 18:20 | 6060046 AccreditedEYE
AccreditedEYE's picture

Ya, ya. They more they keep telling you the sky is falling, the higher the market (and net worth) goes. This isn't by accident. Very similar to Investors Intelligence data where they pretend to be bearish but positioned double long SPX. This survey crap is useless... nobody answers without an agenda. 

Mon, 05/04/2015 - 18:19 | 6060047 SilverRhino
SilverRhino's picture

Silver, farmland.   Buy shit that stays around instead of buying paper.  

Mon, 05/04/2015 - 18:54 | 6060172 Weaponized Innocense
Weaponized Innocense's picture

Hoping the vix will get me through...for some... I wanna be difersified so it is harder to blow up this portfolio like we're playing battleship as always once lover pâténted and the warlord passion assassins moved into my bed no matter what all and everything must be destroyed.

Mon, 05/04/2015 - 18:19 | 6060049 HonkyShogun
HonkyShogun's picture

I'm surprised "Getting married" doesn't show up in that list of regrets. WTF?

Mon, 05/04/2015 - 20:11 | 6060402 seek
seek's picture

Selection bias.

The ones with bad marriages lost half and didn't make it into millionaire territory. Ergo, nearly everyone who's polled and a millionaire either had a successful marriage or none.

Mon, 05/04/2015 - 18:20 | 6060051 Osmium
Osmium's picture

Jump you fkrs!

Mon, 05/04/2015 - 18:24 | 6060062 DutchBoy2015
DutchBoy2015's picture

AS opposed to people living in tents that have nothing.  Probably happier than those millionaires .

Mon, 05/04/2015 - 19:29 | 6060291 cherry picker
cherry picker's picture

You are right.

When your life is consumed to continue making more and more to maintain 'lifestyle' and in protecting 'assets' that is like a slave living in the Emperor's palice, better to live in a haystack and free, although real poverty lends itself to its own stresses.

Mon, 05/04/2015 - 18:25 | 6060065 blindman
blindman's picture

i may have missed the main plot here
but this link is good.(from youri karma)
.
Steve Hughes While It's Still Legal
https://www.youtube.com/watch?v=ohogzxiqqkM&feature=youtu.be&t=23m45s

Mon, 05/04/2015 - 18:30 | 6060084 lunaticfringe
lunaticfringe's picture

Good. I have no tears for anyone who bought into this 73 month piece of shit- frankenstein economy. Mercy? Fresh out.

Mon, 05/04/2015 - 18:32 | 6060089 i_call_you_my_base
i_call_you_my_base's picture

Fed intervention creates a paradox. The intervention signals instability. 

Mon, 05/04/2015 - 18:35 | 6060097 GFORCE
GFORCE's picture

Ironic that the Hedge are millionaires through railing at millionaires

Mon, 05/04/2015 - 18:45 | 6060132 SheepDog-One
SheepDog-One's picture

What 'railing against millionaires'? I didn't see that here, basically just saying that some of them are worried, and they should be.

Mon, 05/04/2015 - 18:56 | 6060178 TeethVillage88s
TeethVillage88s's picture

Dozent the worry come from over spending, over contracting, over extending yourself and plain old greed for more without any bad years.

Anyway they don't want to worry, they should become a Priest or a Minister or really a Buddhist.

I'm probably thinking of myself, but we get a consumer habit and it really controls us. Like all our possessions control us. We buy a house now we have to spend more money all the time and face bills for new things, remodeling, maintenance, insurance hikes, property tax hikes, new banking fees.

And all the while you got smucks in VICHY DC & FED trying to create inflation and ZIRP for your savings interest rates.

Mon, 05/04/2015 - 18:36 | 6060098 asteroids
asteroids's picture

I million dollars is a lot of money. Period. That 53 year old woman between 5-10 million must be mentally or emotionally crippled. She doesn't realised that "shes won". Quit, live a quiet mdoest life. She must be a hamster stuck on the wheel running until she droips dead. What an idiot.

Tue, 05/05/2015 - 01:21 | 6060959 Max Cynical
Max Cynical's picture

Dave Goldberg, Silicon Valley Executive, Died of Head Trauma, Mexican Official Says

Dave Goldberg, the chief executive of SurveyMonkey and husband of Sheryl Sandberg of Facebook, died of head trauma Friday night...

Mr. Goldberg, 47, was on vacation with family and friends at a private beach-front villa near the Four Seasons Resort in Punta Mita

http://www.nytimes.com/2015/05/05/technology/dave-goldberg-cause-of-deat...

Dave and his wife (Sheryl Sandberg) were worth over $1B. Would he have done anything different knowing his time was up at 47?

I read his bio over the weekedn. He sounds like a great guy...highly accomplished and deeply respected.

Mon, 05/04/2015 - 18:39 | 6060111 BullyBearish
BullyBearish's picture

With such a tightly controlled global financial system...ask yourself, "just WHO is it that is going to crash this thing"

Mon, 05/04/2015 - 19:06 | 6060206 Weaponized Innocense
Weaponized Innocense's picture

The ones who have been destroying this economy just to blame it on all but the same old policies they want to use to pretend to fix the economy in the climax of Münchausen syndrome with bloody hands reaching out to those they destroy guiding the witch hunts against all but their political ways rolling in the Monopoly money.

Tue, 05/05/2015 - 06:33 | 6061100 Arnold
Arnold's picture

Lack of liquidity to meet obligations, obviously. There's alot of that going around.

Unsalable assets CBO and derivative instruments.

High yield bond? Really, the greater fool theory in Technicolor.

Remember that pile of Chinese copper that was sold six or seven times to different entities.

It is a common practice, and not just with commodities.

Mon, 05/04/2015 - 18:41 | 6060119 SheepDog-One
SheepDog-One's picture

Millionaires? Pfffft....chumps these days.

Mon, 05/04/2015 - 18:50 | 6060155 TeethVillage88s
TeethVillage88s's picture

A jewish Kabutz worker, a Priest, a Nun, and a Rabbi all go into a bar with a Policeman in the Bronx. All of them paid for their beer except the policeman. All of them a Communists. And all of them are Socialists and happy that they don't have to work.

Now how can we make it funny??

Mon, 05/04/2015 - 18:55 | 6060175 i_call_you_my_base
i_call_you_my_base's picture

Incorporate a tactical nuke?

Mon, 05/04/2015 - 20:13 | 6060407 Clowns on Acid
Clowns on Acid's picture

Have them all exchange their uniforms and see if they act the same.  

Tue, 05/05/2015 - 06:59 | 6061134 Arnold
Arnold's picture

Any one that would try to make a joke of a bride of Christ is sick.

Disparaging remarks about Penguins and rulers, maybe.

Jokes? no.

Mon, 05/04/2015 - 18:49 | 6060150 TheFourthStoog-ing
TheFourthStoog-ing's picture

The stock market's got nowhere to go but up. Even the ne'er-do-wells that inhabit this site are starting to figure it out.

Mon, 05/04/2015 - 18:49 | 6060152 Duc888
Duc888's picture

Good thing I'm not a millionaire...I don't have much to lose...and what I have can be easily replaced.

sux being me, or not. Either way I am happy.

Mon, 05/04/2015 - 18:53 | 6060159 philosophers bone
philosophers bone's picture

Millionaire is no big deal anymore. Aim higher like the rappers. Ask Laws of Physics - the good news and the bad news is that we're going fo. Trillionaire status.

 

Mon, 05/04/2015 - 18:53 | 6060165 Hannibal
Hannibal's picture

FUCK'M

Mon, 05/04/2015 - 18:54 | 6060171 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

I designed the crash to take out all the banks in the World. All along I figured that all the millionaires would go down with all the banks all at the same time. Frankly, I cannot understand why this house of cards is still standing? I'm perplexed, Z/H?

 

NOTE: If Central Banksters flunked math in school does that mean that mathematics is not applicable in their World?

 

:|

Mon, 05/04/2015 - 18:55 | 6060173 robnume
robnume's picture

Yeah, I'll host that fuckin' pity-party!

Mon, 05/04/2015 - 19:10 | 6060221 I Write Code
I Write Code's picture

Millionaire don't mean squat in the big city, equity on your 1700 square foot house you've lived in for thirty years could be your ticket, if markets crashed (again) oops no millionaire.  Or your $500,000 IRA is suddenly $50,000.  Oops.

About thirty years ago there was an article or something, "How much savings would you need to feel ready to retire comfortably" and the answer then was like $250,000.  Adjusting for inflation that's got to be two million now, and given urban housing prices could easily be three, for the same kind of answer.  And that's when your savings yielded 5% easy.  Today you might need twice as much, to have the same level of income.

So again, this all supports the statement that five million is more like the comfort point, and that's probably with half a million in gold and fifty thousand in guns, lead, and canned goods.

Mon, 05/04/2015 - 20:20 | 6060421 cigarEngineer
cigarEngineer's picture

Moving-goalpost syndrome. 5 mil is certainly enough, and 4 mil is a whole mil cheper than that. Sure, 10 mil and you got it made, as long as the goalposts don't move.

The best way to start your professional career is to make a mil or 2, lose it all, and make it back. Keeping expenses in check is the surest way to amass a fortune by age 40.

Mon, 05/04/2015 - 23:46 | 6060859 I Write Code
I Write Code's picture

Not moving goalpost, just inflation.

The thing is, there is that "hedonic" adjustment too.  Today for a lot less than a million dollars you can have a super-HD 80-inch curved screen tv that a billion dollars couldn't get you twenty years ago.  So who needs even a million?

Mon, 05/04/2015 - 19:10 | 6060223 atthelake
atthelake's picture

Most, who own real estate, will not be able to pay their real estate property taxes.

Mon, 05/04/2015 - 19:20 | 6060251 dojufitz
dojufitz's picture

There was an article in the paper on a nurse who job it is to see people right at their last moment before they pass away in hospital....

 

she said the biggest regret almost everyone had was working too much.....

 

she said people felt they had wasted their life working.......

Mon, 05/04/2015 - 19:27 | 6060277 Smiddywesson
Smiddywesson's picture

I share this fear.  If the market crashes, I will be destroyed and through no fault of my own, despite my refusal to take money off the table, forces will have conspired to make us have our ski vacation in Park City instead of Vale.  Oh the inhunanity, it's too much to bear.

Mon, 05/04/2015 - 19:31 | 6060292 Fun Facts
Fun Facts's picture

protocol #20

Replace sound investment with speculation

Mon, 05/04/2015 - 19:32 | 6060300 Ms No
Ms No's picture

A million dollars isn't shit anymore.  It will cost you over a quarter mill to get a house and if anybody gets sick your going to lose another quarter and what's the cost of education now days?  Not to mention how many people count their 401k as an the hand asset.  Yep, they'll be broke as a joke too.

Mon, 05/04/2015 - 19:36 | 6060311 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

A quarter of a million for a house...? Not in or near any major metropolitan area in this fine cuntry...

Mon, 05/04/2015 - 20:21 | 6060434 cigarEngineer
cigarEngineer's picture

I believe he was referring to renting. /sarc

Mon, 05/04/2015 - 19:34 | 6060305 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Fucking retarded.

All this tells me is that people have fucked up priorities and are completely fucking clueless.

Mon, 05/04/2015 - 19:39 | 6060321 Q-Q-Q
Q-Q-Q's picture

What does a million get you these days..........a lot of 'off government message' gold and silver but not much else.

Mon, 05/04/2015 - 19:43 | 6060329 Q-Q-Q
Q-Q-Q's picture

If you don't hold gold then I agree you could lose it all. At least with 'physical' gold it's not gone in a heartbeat.

Mon, 05/04/2015 - 19:58 | 6060362 CHC
CHC's picture

I have nothing, I dare anyone to try to take that away from me.

Mon, 05/04/2015 - 21:42 | 6060613 booboo
booboo's picture

So you are one of the few truely free people in the U.S.. Be thankful.

Mon, 05/04/2015 - 23:04 | 6060783 monad
monad's picture

Already done. You have to pay your obamacare bills whether you work or not, and the IRS will come for you. Within 10 they will tax private benefits programs out of existence, so this de facto serfdom will apply to all.

Mon, 05/04/2015 - 22:03 | 6060369 Radical Marijuana
Radical Marijuana's picture

A measly million dollars

ain't so much anymore.

One symbolic illustration is with the history of legal lottery jackpots in Canada: 35 years ago, one million was the biggest prize, and winning that was considered a big deal. Now, it is routine for jackpots to be 50 million.

Today, $50 million barely puts one into the bottom of the upper class, while one million is barely even upper middle class. Those in that category who fear losing it all appear to have a quite reasonable fear. However, given the circumstances that they lost that, those sorts of social situations would also probably become that they and their families would also lose their lives.

Within the fundamentally fraudulent financial accounting systems that dominate everything, the gaps between "nominal wealth" versus "actual wealth" continue to get bigger and BIGGER! The basic structure of the social pyramid systems has become runway criminal insanity, due to the debt slavery driving its numbers to become debt insanities, which have no mathematically possible ways to ever be resolved, and therefore, will probably switch gears to provoke death insanities.

Those who used to enjoy a relatively nice position inside of the established social pyramid systems, in the upper middle class, are in serious jeopardy of those systems collapsing into chaos. The upper middle class tended to believe that they were "members of the big club" (*see George Carlin) ... However, there were actually NOT members of the big club.

Ironically, those who most believed in or bought the banksters' bullshit are the most vulnerable to the consequences that will follow from that having actually been bullshit. (One presumes that the upper class was more aware of the degree to which they were spouting bullshit, and therefore, are more prepared ... however, I am not sure that necessarily is the case.)

Mon, 05/04/2015 - 20:03 | 6060374 Saucy-Jack
Saucy-Jack's picture

Stupid fucking cunts don't know how to live within their means and make sure they can withstand a market crash?

Mon, 05/04/2015 - 20:06 | 6060387 Rabbi Blitzstein
Rabbi Blitzstein's picture

Oy vey! You stupid goyim make us laugh so hard it hurts. Makes us cry “anti-semite”. You are persecuting us by making us hurt with much laughter. The “two thirds” are the stupid shabez goy. We control it all. We know ahead of time. We never lose. We always purge the traitorous sellouts. Make them ‘rich’ to do our dirty work. When done, we get rid of them. Always been that way - always will be. OY OY OY!

Mon, 05/04/2015 - 20:12 | 6060394 cigarEngineer
cigarEngineer's picture

Travel sucks. It's a lot of work, uncertaintity, and — worst of all — unrelenting mingling with commoners. Unless you charter, you get molested by the TSA trolls and harangued by customs. The seats are like sardines unless you blow $3k on 1st class. Then there's food of uncertain origin, diseases, crime, and the inexorable ennui gnawing at your soul.

Truly, the only people who would like to travel are those who don't have a pool and a taste for fine cigar & scotch.

Mon, 05/04/2015 - 20:09 | 6060396 samsara
samsara's picture

And YES they will.

It's one of the few things that makes me smile.

Mon, 05/04/2015 - 20:11 | 6060404 JailBanksters
JailBanksters's picture

Like everything else, there's always a good side.

Sure 2/3 will loose everything, but on the bright side the other 1/3 will gain everything. Like the old saying goes, Wealth is never destroyed it is mearly transfered. Wealth is always transfered from the have not's to the have more's, wealth is never transfered from the rich to the poor.

 

Mon, 05/04/2015 - 20:19 | 6060430 razorthin
razorthin's picture

And I fear that the fuckers won't!

Mon, 05/04/2015 - 20:22 | 6060437 MeelionDollerBogus
MeelionDollerBogus's picture

Not to worry! Like Zimbabwe soon we can all be trillionaires!!

Tue, 05/05/2015 - 00:06 | 6060886 hendrik1730
hendrik1730's picture

True words.

Mon, 05/04/2015 - 20:32 | 6060457 Keyboard Kommando
Keyboard Kommando's picture

Jump, you Jew bastards!

Mon, 05/04/2015 - 21:46 | 6060625 theyjustcantstop
theyjustcantstop's picture

afraid they'll lose everything, well the crash may take their money, but the crash will facilitate the hoards on the streets, that will take their most valuable assets.

Mon, 05/04/2015 - 21:56 | 6060638 GardenWeasel
GardenWeasel's picture

 

Female, 53, worth 5-10 Million, says she can't afford to do all the things she wants or travel to all the places she wants to see.  You are F'ing kidding me, right?  Hot tip - buy a condo and fly coach bitch! I have a cousin, ordained minister, net worth of zip, that has been all over the world - Japan, Africa, Middle East, Europe (several times) - and she does it with miles she accumulates paying her bills with one of those miles credit cards.   How did someone this ignorant ever amass that much net worth.  Probably got it in a divorce judging by her priorities and money management skills.  Either that or a lot of these responses are flat out lies by these people trying to make themselves seem noble.  Ever see a rich person respond to the "regrets" question - "Hell no, all I ever cared about was money!"? Should be at least one.  This should be on TMZ, not ZH. 

Mon, 05/04/2015 - 22:05 | 6060668 besnook
besnook's picture

the only millionaires who will be in trouble are the ones who bought the debt fantasy ride to riches. i suspect that is a lot of them. the irony will be the state and federal workers retiring now on the old plan after 30 years get a millionaires income(at 3%) with a cola for life.

Tue, 05/05/2015 - 00:34 | 6060920 Kirk2NCC1701
Kirk2NCC1701's picture

"Two Thirds of US Millionaires Fear They Will Lose It All"

Two Thirds of Billionaires agree with them.

Tue, 05/05/2015 - 00:51 | 6060943 sidiji
sidiji's picture

cuz its true....everyone is ONE FLASH CRASH away from begging on the streets.

Tue, 05/05/2015 - 02:10 | 6060988 Salsipuedes
Salsipuedes's picture

And one third will end up face down in the blood and Margaritas at the BASE of the treadmill with a black eye and a hole in the head.

Tue, 05/05/2015 - 04:18 | 6061038 Victor999
Victor999's picture

Just breaks my heart!

Tue, 05/05/2015 - 05:24 | 6061062 slvrizgold
slvrizgold's picture

1 millon will get you TWO METRIC TONS of silver.   That is enough silver to keep you fed, sheltered, and clothed for a long time.  Dollars, maybe not so much.

Tue, 05/05/2015 - 07:56 | 6061224 Xamune
Xamune's picture

A million dollars? Oh that is so 1983!

Tue, 05/05/2015 - 13:10 | 6062480 Livermore Legend
Livermore Legend's picture

And indeed they should be Worried:

One of the "Popular Delusions" is that 2009 = 1932.

The 1932 Style Low is Ahead, Not Behind us.

That Low was 89 % down.

What people fail to understand is that in a Low of that Magnitude, Many don't make it to the Bottom, and are Completely Busted Out.

Parenthetically and Anecdotally, this also Demonstrates why 2009 was not the Real Bottom.  At a Real Bottom, most are busted out and thus the Bottom last years, not Months. 

There are PERMANENT LOSERS, and from that a New Crop of Participants is Born and with it the New Bull Market.

At this Point, it is either "SHORT" or in US BILLS.

Since basically nobody really has the Mastery Necessary to Short in a Big Way, and most who have tried marginally, are pretty much Busted Out or have Capitulated Post 2009; that only leaves US Bills.

Most, even wealthy individuals, are Greedy and Ignorant, thus they won't put their Capital in US Bills at Zero.

Or they believe the nonsense that the Dollar is going to Collapse, China-Russia Takeover, Gold, the "Meme de jour", etc., etc., =

70-90 % Down will Mark the Real Bottom.

Everything, and I Repeat EVERYTHING is merely a "Machination" in myriad form on the Road to the Bottom.

As I have said:

Ruined Lives and Ruined Reputations.

For those who do not want to Lose, you do have a Choice.

Sat, 05/09/2015 - 07:45 | 6075444 Crisnach
Crisnach's picture

Pronósticos Sobre el Rendimiento de los Bonos Globales 

http://www.aseperfi.com/inf/infBONOSPAISES.htm

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