dkf
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Tue Dec-14-10 08:32 PM
Original message |
Michael Milken says Americans spend too much on a big house and cars. |
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Instead we should we spending more on education.
He says our society has encouraged us to over buy housing and we need to spend the same amount on education as we do on a house plus car.
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Skittles
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Tue Dec-14-10 08:34 PM
Response to Original message |
1. let's see his house and car |
BeyondGeography
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Tue Dec-14-10 08:37 PM
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2. What he meant to say is Wall Street is bloated and very often engaged in |
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useless and destructive behavior.
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dkf
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Tue Dec-14-10 08:39 PM
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3. This is what it will take to compete with Asia as Asia is investing in education. |
BeyondGeography
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Tue Dec-14-10 08:42 PM
Response to Reply #3 |
5. Many Americans already spend a fortune on education and run up ridiculous debts in the process |
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I don't know what he's talking about.
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dkf
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Tue Dec-14-10 08:45 PM
Response to Reply #5 |
6. He is just comparing the ratio of spending for housing and transportation vs. Education. |
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Asia is putting an equal priority on it.
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Hannah Bell
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Wed Dec-15-10 04:46 AM
Response to Reply #6 |
23. oh, bullshit. "asia" isn't doing anything of the sort. |
blueamy66
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Tue Dec-14-10 09:53 PM
Response to Reply #2 |
14. I still wanna see his |
Arctic Dave
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Tue Dec-14-10 08:39 PM
Response to Original message |
4. I would agree with the idea that we spent insane amount of money on a place |
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to eat, sleep, poop and store our stuff, I don't think that education should cost so much as to put the rest of our life in hawk.
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yellowcanine
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Tue Dec-14-10 08:45 PM
Response to Original message |
7. Not sure Michael Milken has any right to lecture the rest of us on lifestyles. |
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Yes he is a big philanthropist but I don't think he has any sense of what it is like to live on a biweekly paycheck.
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Octafish
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Tue Dec-14-10 08:49 PM
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8. Milken made his money the old-fashioned way. |
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He stole it. In new ways, and Wall Street's never been the same since.
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doc03
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Tue Dec-14-10 08:53 PM
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9. I think he is absolutely right on this. What was the average size |
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of a home in the 50s something around 1000 square feet? What is it today 2500+ square feet and families are smaller. Same goes for all material possessions boats, RVs, 4 wheelers, motorcycles, cars etc. What people think is a necessity today was a luxury 50 years ago.
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dkf
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Tue Dec-14-10 09:45 PM
Response to Reply #9 |
13. Exactly what he said. He mentioned growing up in a 1300 sq foot home |
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I agree that if a person over buys they may find themselves on trouble.
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Hannah Bell
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Wed Dec-15-10 02:31 AM
Response to Reply #13 |
18. he's a wall street felon. his latest scam is ed deform. what don't you get? |
Hannah Bell
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Wed Dec-15-10 04:44 AM
Response to Reply #13 |
22. i wonder if his pronouncements apply to himself & his buddies? |
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doubtful.
what he means is he wants people to pay more for education so that he & his buds can cream the spending via "education reform".
consequently, as they strive to send their kids to the best kindergarten, primary, secondary & college they can afford in the brave new world of privatized, for-proft education --
they'll have less to spend on housing.
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HughBeaumont
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Tue Dec-14-10 09:04 PM
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10. Milken represents everything that's WRONG with America. |
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Here's a guy who, once upon a time, was a multi-millionaire financial Junk Bond pirate at the height of the non-regulated Reagan-era Scandalrama, who no doubt engaged in insider trading (although was never convicted of it :eyes: ). He was indicted on 98 counts of racketeering and securities fraud (later reduced to six counts of securities/reporting violations). He served 2 years of a 10 year sentence and permanently barred from the securities industry. 18 years later, his net worth was estimated at 2.2 Billion dollars (really doesn't say how unless the Milken Institute is pulling more bank than I think). I don't get it . . . was he allowed to keep all of his wealth even though it was ill-gotten?
Pretty much illustrates that you can skirt the rules, screw thousands of workers out of jobs through no fault of their own, go to prison on multiple felony charges, but if you're rich, you pretty much either stay that way when you get out or, in Milken's case, become infinitely richer. If you were never rich and this happened to you, you'd likely be screwn. Life is fair. Really.
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Dr.Phool
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Tue Dec-14-10 09:54 PM
Response to Reply #10 |
15. He's now a force behind the education privatization movement. |
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No wonder he wants more money spent on education.
So he can put it in his pockets.
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WhiteTara
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Tue Dec-14-10 09:43 PM
Response to Original message |
11. Let's see, he robbed us blind in the 80's, he poisoned us |
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with GMOs from Monsanto in the early part of the 21st century and we are supposed to put some faith in his sorry criminal ass? STFU Michael.
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JanMichael
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Tue Dec-14-10 09:45 PM
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12. Irony or the concept of irony is now 100% lost. nt. |
Golden Raisin
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Wed Dec-15-10 02:22 AM
Response to Original message |
16. So nice to be lectured |
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by Michael Milken. :sarcasm:
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Hannah Bell
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Wed Dec-15-10 02:28 AM
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17. michael milken has a felony conviction for bilking the american public of millions to enrich |
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himself.
milken is a first-class, gold-plated asshole & hypocrite, and his post-prison "charities" are another fraud as well.
michael milken is rich beyond your wildest dreams.
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old mark
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Wed Dec-15-10 03:59 AM
Response to Original message |
19. He just wants to CHARGE more for education because he is selling it... |
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Milikin belongs in prison.
mark
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girl gone mad
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Wed Dec-15-10 04:08 AM
Response to Original message |
20. Note that his emphasis on spending more.. |
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rather than on quality.
A truly educated population would lock the likes of Milken up for life, after clawing back his ill-gotten gains.
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jtuck004
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Wed Dec-15-10 04:34 AM
Response to Original message |
21. Sure. And he will teach you how to create high-interest bonds, from air.... n/t |
Hannah Bell
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Wed Dec-15-10 04:51 AM
Response to Original message |
24. In fact, Milken said "we" (the ruling class, the financial class) have got to stop letting middle |
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Edited on Wed Dec-15-10 04:51 AM by Hannah Bell
class people buy so much house: "We have got to stop this non-recourse loaning to housing. We have distorted the utility curve of middle class America." We have misled people on what size house they need. Middle class America is allocating too much of its resources to housing and transportation. Read more: http://www.businessinsider.com/michael-milken-we-have-distorted-the-utility-curve-of-middle-class-america-2010-12#ixzz18AjekxWtIn other words, Michael Milken says the financial class dictates the "needs" & spending of middle america. which it does.
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