Warren Buffet says: "When it's raining gold, reach for a bucket, not a thimble.", page 1
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Topic started on 10-3-2010 @ 11:45 PM by ExPostFacto
Something is wrong, very wrong. Reading this recent article from Forbes regarding how Billionaires are doing during the global downturn made my stomach turn.

finance.yahoo.com...


In his annual shareholder letter Buffett wrote, "We've put a lot of money to work during the chaos of the last two years. When it's raining gold, reach for a bucket, not a thimble."

Many plutocrats did just that. Indeed, last year's wealth wasteland has become a billionaire bonanza. Most of the richest people on the planet have seen their fortunes soar in the past year.


When the rich get richer, the poor get more poor, and the middle class become the poor. At what point do these billionaires start hiring people and investing in companies that are producing jobs? This whole economic system is upside down.


reply posted on 11-3-2010 @ 12:22 AM by Bobbox1980
reply to post by ExPostFacto



When the markets tanked like they did, the average investor takes his money out or his mutual fund and 401K managers take the money out and move it to something more stable.

Warren Buffet and other good investors instead buy even more stock because when the downturn is over the stock of good solid companies will return to their previous price if not higher.

I am by no means a rich fat cat. I am unemployed at the moment, lost my job shortly after the beginning of the down turn but I had invested in some stocks Buffet was in right before I lost my job including CCE and KO Coca Cola, they are both way up. IR Ingersol Rand is also way up. Some of the stocks like GE aren't doing great but overall I am up almost 40%.

I basically did what Buffett did.


reply posted on 11-3-2010 @ 12:29 AM by oneinthesame
The rich get richer, and the middle class disapears. Seems to be the theme of the financial crisis. Remember never let a good crisis go to waste

It seems that the gap between rich and poor is becoming wider and wider. The middle class is dying and we are seeing a return to more of a feudal society.

See this graph:


en.wikipedia.org...:Income_gains.jpg

Edit- Caption from graph:
Inflation adjusted percentage increase in after-tax household income for the top 1% and the four quintiles, between 1979 and 2005 (gains by top 1% are reflected by bottom bar; bottom quintile by top bar).Source

[edit on 11-3-2010 by oneinthesame]



reply posted on 11-3-2010 @ 03:13 AM by {davinci}
reply to post by Cabaret Voltaire



The Rothchilds are never mentioned in those reports. EVER.



During the 19th century, the family possessed by far the largest private fortune in the world, and by far the largest fortune in modern history. Although family financial records have not been preserved, at its height in the mid-19th century, the total family worth spread across Europe would have been, in today's terms, at the lowest estimates in the many hundreds of billions ($US), if not in the trillions.


I bet the records have been preserved, just not publically available.
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