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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums5 Signs America’s Super-Rich Are Going Off the Deep End
http://www.alternet.org/economy/5-signs-americas-super-rich-are-going-deep-end1. The rich are mouthing off in epic rants.
Theyre going on talk shows, writing editorials, bitching and moaning, and taking every opportunity to tell us just how fed up they are.
***SNIP
2. The Ivy League apologists are out splainin in full force.
Harvards Greg Mankiw is Americas most shameless defender of the 1 percent (just in case you didnt know that about him, he wrote a paper titled, Defending the One Percent). You can rely upon the chairman and professor of economics at Harvard and former Mitt Romney advisor to pontificate about why the megarich are smarter and more creative than you and not deserving of your ire. Mankiw just published an op-ed in the New York Times describing the risks our brave gazillionaire superheroes take to promote the public good.
***SNIP
3. A new field of psychology is emerging to treat the uberwealthy.
Being loaded is a load to bear, evidently. A recent article in Mother Jones outlines new trends in psychotherapy emerging to deal with this overwhelming burden.
***SNIP
4. Theyre barricading themselves in.
It is a perennial problem for the super-rich that once youve got the loot, youve got to guard it. In a February 15 New York Times blog, economists Samuel Bowles and Arjun Jayadev report that America now has as many private security guards as high school teachers.
Egalitarian Thug
(12,448 posts)Stainless
(718 posts)I take much comfort knowing that the bastards are looking over their shoulders and feeling uneasy about their well-being and safety. What did they think would happen when they crashed the economy and sucked up all the wealth? I hope their paranoia eats them up and destroys them all.
reformist2
(9,841 posts)Laelth
(32,017 posts)... either through birth or connections. I certainly don't believe that the majority of them are "the best, the brightest, or the hardest-working." My experience shows me that they're people like the rest of us. They're just lucky people.
-Laelth
uponit7771
(90,304 posts)NONE of them were more talented than the average though...
Goes to what you said about luck
Laelth
(32,017 posts)-Laelth
hobbit709
(41,694 posts)Holly_Hobby
(3,033 posts)Russia is doing business with Iran (oil), Germany is building rails to Russia (oil), Saudi Arabia has less oil than Iran. And China goes without saying.
The dollar value is falling and will continue to fall. Dollars will soon be monopoly money, no wonder they're worred, even if they're able to steal pensions and more middle class housing, the dollar is just about d-o-n-e. When a country collapses, a certain amount of fraud by the ruling class is tolerated.
irisblue
(32,932 posts)Are the corporately owned hardware stores limiting propane torches yet? Get nervous you greedy slime.
Laelth
(32,017 posts)We may need them soon.
(only half sarcastic)
-Laelth
Jackpine Radical
(45,274 posts)Best to stay with the traditional pine knots, or render your own torch grease from the tallow of the porcine privileged.
TBF
(32,013 posts)bemildred
(90,061 posts)Howard Hughes, L. Ron Hubbard, the list is long of wealthy egotists who constructed their own bubbles and proceeded to live within them forever. It seems to be more the norm than the exception these days too, entire housing developments dedicated to the idea of having your own bubble.
malaise
(268,715 posts)They know how it ends - they thought we bought the fairy tales.
berni_mccoy
(23,018 posts)When Perkins said we should have 1 dollar 1 vote.
Brigid
(17,621 posts)xchrom
(108,903 posts)durablend
(7,455 posts)They can leave if they don't like it here.
Though I don't expect them to...
Scuba
(53,475 posts)Laelth
(32,017 posts)-Laelth
flobee1
(870 posts)If they think a security guard is going to save their ass they are delusional-they get paid worse than teachers.
Response to flobee1 (Reply #46)
flobee1 This message was self-deleted by its author.
jtuck004
(15,882 posts)Funny that.
Not saying I think it's a good tactic or not, that depends on the plan, and I know it's a poem, but on a Democratic board to be writing things that talk about taking your .44 to someone's house to blow "his playhouse" down is a bit, uh, more intense than one would usually see.
Anyway, I'm pretty sure he would just be replaced by another idiot and it would just go on, so as a tactic it has some serious limitations.
flobee1
(870 posts)These people deem it more cost effective if I dropped dead, so forgive me if I have the same feelings towards them. Not pro assassination, I just wouldn't piss on em if they were on fire.
I hope it is nightmares of angry 99%ers coming to get them that keep them awake at night.
Same reason I sing "Piggies" by the Beatles (along with "roll the union on" by Seeger) at the top of my lungs while I commute to work through the obscenely rich section of town.
jtuck004
(15,882 posts)in the theater. Yet whatever scared them is still scaring them, I am guessing. Not much of a solution.
Or the guillotine of the Sans-Culotte in France, who made up the bulk of the forces on the Left in the French Revolution. At first it was ok, beheading the tyrants and all. But in the end their leaders and thousands of them were also beheaded, and the wealthy took over.
Oops. Not much of a solution there, either.
It's an interesting problem. You are thinking about the piggies. They are also thinking about themselves (believe me when I tell you that you are invisible in their world - they would NEVER think about us) .
Who does that leave to think about you?
(This guy, was thinking about you, and them...maybe if the French hadn't ignored him back in 1550.... People think this is a NEW problem?)
Please don't fool yourself. The wealthy aren't afraid of us at all, and most everyone, deep inside, know that. All these little rabble rousers running around talking about guillotines and crap are mostly just ignorant of history. While it might be possible to depose them at the point of a gun, there is a reason that Rockefeller is quoted as saying "The time to make money is when there is blood running in the streets".
The wealthy see revolution as a buying opportunity. That's why they laugh and throw McDonald's applications down on protestors. They aren't afraid of you, of us, at all. They know we are too dull to be of any real threat, and nearly any solution that those now in servitude come up with is going to be done inside the limits they have set, and the most violent can be easily controlled with their military and police, the NSA, the government.
If you really want to change things, you will also need a union that worked toward giving you control like the Industrial Unions. Make business come to you, on your terms. It's a lot harder, and you will probably get killed before it gets better. It's easy to walk out of the field, much harder to leave the apparent safety of the Master's house. Regardless, until one commits to that, they will never end their servitude.
They don't teach this stuff much of anywhere public, but if you get a chance (probably in a nearby university library) you may want to read
Them and Us:The Struggles of a Rank-and-File Union - by James J. Matles & James Higgins
or
The Autobiography of Mother Jones by Jones (Mother Jones), Mary Harris
These are their songs, http://www.musicanet.org/robokopp/iww.html
I like The Preacher and the Slave ("Pie in the Sky"
and perhaps this: http://field-negro.blogspot.com/2012/05/its-21st-century-but-house-negro-is.html#.UwUfsmfyOsQ
The study of these will give you a whole different idea about Unions, who is your friend and who isn't, about slavery and servitude.
Heck, it might change your tune.
I'm sorry I ever posted on this board
jtuck004
(15,882 posts)that whether you like what you hear or not, or choose to learn from it or not, you will still be treated better here than
by any of the people you threaten with a .44 in your little ditty
Maynar
(769 posts)of beauty. Well done, Flobee1.
tomm2thumbs
(13,297 posts)it's true... all of the potential 'special chocolate pies' for the rich come from those who are sh*t upon all the time by the self-enamored rich.... I hope there are as many food tasters as security guards in their world.... they are gonna need it eventually
nolabels
(13,133 posts)The semantics of it are as simple of the mathematical equation known as 1+1.
It's really an interesting study and just think about those that find themselves suddenly wealthy who often shed the wealth consciously or unconsciously and why is that?
Those people with money or those people who think money is the answer often have an entirely different mind from the run of mill personal set and it often doesn't serve them personally in being content and well adjusted.
shanti
(21,675 posts)they may soon employ professional tasters.
BanzaiBonnie
(3,621 posts)Earth_First
(14,910 posts)If ever there was sign beyond the aforementioned 5, it is this.
They've gone SO far off the deep end, that in a court of law; they've successfully utilized 'affluenza' to clinically diagnose a defendant after committing vehicular manslaughter.
That's how far they've gotten...
MynameisBlarney
(2,979 posts)Laelth
(32,017 posts)-Laelth
Rex
(65,616 posts)PowerToThePeople
(9,610 posts)Rex
(65,616 posts)All soft and tender. No calluses either!
FEED ME THE 1%!!!!!
Egalitarian Thug
(12,448 posts)with all kinds of noxious chemicals, plastic, and silicone.
Still, if you get them very young, especially the boys, you can still make a decent meal from one.
UncleMuscles
(44 posts)Beware the beast billionaire:
Woe betide is he who allows him to multiply in great numbers or should let him enter his home
For the billionaire is avarice and wickedness made flesh
He will make a palace of his home and a desert of yours
Repel him at every turn.
annabanana
(52,791 posts)I like your turn of phrase.
MisterP
(23,730 posts)I can't remember the book's name, though ...
and welcome aboard!
MrScorpio
(73,630 posts)Unless, of course, they fix this shit we're all in on their own.
It's within their power.
hobbit709
(41,694 posts)MrScorpio
(73,630 posts)Jackpine Radical
(45,274 posts)socialist_n_TN
(11,481 posts)nm
Jackpine Radical
(45,274 posts)hobbit709
(41,694 posts)FLOWERS IN THE NIGHT
MUSIC & Lyrics: Jack Traylor
Paine and Pierce and Robespierre, Juarez and Danton,
Luther, King and Lumumba dead but far from gone
Lenin, Cleaver, Jesus too, outlaws in their nations,
Revolutionaries all, dreamed of liberation
God is up in heaven his agents here on earth
The church has said that this man rules, he's best because of birth.
But what's that noise down in the street, who dares to shout and sing?
With all his courtiers at his side, who dares to touch the king?
Old man get some soldiers, keep them close at hand
There's a fire in the country, there's a flame come to the land
Seven thousand loyal troops, in ranks they stretch so far
With seven thousand well armed men, no one can touch the czar.
Louis watch the prisons, send the goons around
Is that Paris burning, is the Bastille falling down?
And where are all the mercenaries - paid for by the king?
Have they joined the mob you say, doesn't money mean anything?
Old men get some soldiers, keep them close at hand,
The seeds that were sown yesterday now flower in the land
And guard yourself most carefully with military might.
For plants that cannot bloom by day must flower in the night.
MrScorpio
(73,630 posts)I'm game
socialist_n_TN
(11,481 posts)jwirr
(39,215 posts)the money so we can create GOOD jobs in the USA, pay a living wage to their workers and other programs like that. The foundations were laid years ago. Reagonomics and disaster capitalism made them forget that those were the things that made this nation great. Greed became their mantra. Greed is a sin and sin has consequences.
They can fix it - they have the power.
1StrongBlackMan
(31,849 posts)Yet this argument fails to explain the behavior of closely held corporations. A private equity group with a controlling interest in a firm does not face this supposed principal-agent problem between shareholders and boards, and yet these closely held firms also pay their chief executives similarly high compensation. In light of this, the most natural explanation of high C.E.O. pay is that the value of a good C.E.O. is extraordinarily high.
This is about the most simple-minded excuse that I've come across from a supposed academic. The Hedge-fund example actually proves the "too cozy" point, that Mankiw is attempting to explain away. Here's a hint, Mankiw: The problem with Executive compensation is the people making the pay decisions are making the decisions for/about themselves; whether it's a hedge-fund, paying themselves directly, or a corporate Compensation Committee that develop the pay scheme for executives that set on their own compensation committees (IOWs, "you take care of me and I'll take care of you).
Mankiw should be embarrassed to make such a facile argument.
CrispyQ
(36,424 posts)I was an exec admin for many years & it was sickening the salaries & stock options they would grant themselves. Some of them serve on each other's Boards. Some Board members were original investors of the founders & they wanted their payoff. One company I worked at, Board members got paid $5-7k a a meeting for 4-5 meetings a year, all expenses paid for by the company, of course. Some of these guys sat on multiple boards. What a fucking scam. It's a sordid affair & then they all pat themselves on the back & say what great business people & investors they are. I worked with only one CEO who had any integrity at all.
on edit: $35k a year to attend 5 meetings.
And it's not like these companies were doing really great. Only a few were.
1StrongBlackMan
(31,849 posts)In this OP, Dean Baker says exactly what I wrote ... and more. The only thing I wish he had came out and said was Boards of Directors of the large corporations under the current compensation structure are violating their fiduciary duties.
CrispyQ
(36,424 posts)Thanks for the link.
1StrongBlackMan
(31,849 posts)WinkyDink
(51,311 posts)interests.
elzenmahn
(904 posts)...most of our volunteer military isn't made up of the upper classes and the rich. Most of our military comes from the working classes and the poor. They may be serving Corporate America now, but how long will it last when those soldiers are overseas, fighting for Big Oil and Big Money, and seeing their family and friends struggling to get by, going to continue to fight?
Many soldiers are already seeing it, but I submit it's only a matter of time before the level in trust in the military by the Oligarchs will reach such a low that they'll hire their own mercenary armies.
Pay a private mercenary army six digits per head to protect your private compound(s)? And those mercenaries will have had military training? A worthwhile investment to many of these pigs - and for the mercenaries, nice work if you can get it.
WinkyDink
(51,311 posts)pampango
(24,692 posts)As noted in the article, in Sweden where there is much less disparity in wealth the need for security guards is much, much less. On a global scale, less inequality would lessen the need for 'walls' and 'security guards'.
jsr
(7,712 posts)L0oniX
(31,493 posts)grahamhgreen
(15,741 posts)CrispyQ
(36,424 posts)They think they are the most special humans to ever walk the face of the earth & that nothing will bring them down. And who knows, maybe they are right. They have surveillance & weapons technology, while the masses are distracted with gadgets. We revolt or we slowly (or not so slowly) collapse. Either way the old saying applies: the bigger you are the harder you fall.
socialist_n_TN
(11,481 posts)those crumbs at the proles back then was because James Cannon and the other American reds were ready to take the whole meal away from them.
Remember power doesn't surrender itself until it's forced to. Those proles in the 30s were serious and the ruling class knew it. That's what it will take now too.
elzenmahn
(904 posts)...that's a key phrase, and none other than the KISS monster himself, Gene Simmons, had this to say about respect - and it applies here. I'm paraphrasing, but the gist of it is:
"The only respect you get is the respect you demand."
I do not, and will not, advocate violence. But I'm getting DAMNED tired of pussyfooting with arrogant, entitled Fat Cats - which is why I have the ambivalent attitude toward the Clintons (and increasingly, President Obama).
elzenmahn
(904 posts)...is that in the 30s, the Left had a political backstop and support structure: labor unions, academia, and the like.
Those are gone now. Look at the failed attempt to unionize the Chattanooga VW plant, and politicians openly attempting to influence the union election with scare tactics. Labor union participation is at an all-time low, and if the Scott Walkers of the US have their way, they will destroy the last bastion of labor union strength - the public sector. Academia has been infiltrated by the Ayn Randies and the Friedman Freaks, as attested by the closing of arts departments, and in their place, are being erected big, gleaming business schools.
Chris Hedges lays it all out in Death of the Liberal Class. Read it, if you haven't already.
elzenmahn
(904 posts)...for encapsulating a "moral system" that many of these pigs subscribe to. After all, selfishness is a virtue to her and her fanboys.
WillyT
(72,631 posts)me b zola
(19,053 posts)Jefferson23
(30,099 posts)Good luck.
TheFarseer
(9,317 posts)Glad an entire generation is learning conservative propaganda instead of actual economic theory.
elzenmahn
(904 posts)...but the thing that struck me about the Micro- and Macro- economics courses I recently finished was that the textbooks reeked of neocon, conservative, free-market propaganda. I'm not sure if Mr. Mankiw had authored any of them, but I would not be surprised. The stench of Friedmanist bullshit was unmistakable.
blkmusclmachine
(16,149 posts)TygrBright
(20,755 posts)"When the beating of your heart echoes the beating of the drum..."
sadly,
Bright
ErikJ
(6,335 posts)Notice all the suicides of bankers in the past couple weeks.
nilesobek
(1,423 posts)The psychology angle is interesting. Sometimes a simple life can be a good life. When you are on top, the only way to go is down and holding the center can indeed be a heavy load.