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Super-rich become wealthier again, Sunday Times says

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posted on Apr, 25 2010 @ 03:01 AM
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Super-rich become wealthier again, Sunday Times says


news.bbc.co.uk

...the collective fortunes of the top 1,000 on the list have risen by 30% in the past year - the biggest jump in the list's 22-year history - to £333.5bn.

Last year the top 1,000 saw their fortunes decrease by about £155bn - to £258bn - and the number of billionaires fell from 75 to 43. This time, it has risen by 10 to 53.
(visit the link for the full news article)


Related News Links:
business.timesonline.co.uk
news.google.co.uk
news.google.co.uk
n ews.google.co.uk




posted on Apr, 25 2010 @ 03:01 AM
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At a time when so many people are struggling or going under, seeing the rich getting richer is sure to antagonise. The UK's super-rich have been whinging about high taxes and threatening to take their toys elsewhere. On this evidence...they protest too much.

This success was once used as a criticism of Tory politics...New Labour court the same people and share the same political ground. Over in Europe, the uber-rich have made similar gains in wealth and likely complain about their taxes too.





news.bbc.co.uk
(visit the link for the full news article)



posted on Apr, 25 2010 @ 03:23 AM
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reply to post by Kandinsky
 


I wonder how many of them are corrupt bailed-out bankers.


[edit on 25-4-2010 by riley]



posted on Apr, 25 2010 @ 03:31 AM
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Uhm, that's because the stock market is up ~30% in the past year...


Stock != realized wealth. Anyhow, I'm sure this thread will become full of people who hate the rich, and it's really the NWO and blah blah blah....but really the only reason this is true is because the stock market is up that amount...the article has an agenda


[edit on 25-4-2010 by yellowcard]



posted on Apr, 25 2010 @ 03:34 AM
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but wasn't this expected
the rich get richer
and the poor get poorer
what a system we have.

Welcome to Colony of the Gods.
Our requirement to admission
into the club is that you be worth
10 Billion.

Aliens please take me away
from this place !!!!



posted on Apr, 25 2010 @ 04:09 AM
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That's what the consequence is of uncontrolled capitalism. Although we tend to pretend that our system is the way to go, it has serious flaws that are (in)directly related to greed, which leads to a demolition of the system that brought us so much wealth and is unsustainable. Especially when the bodies that are ought to prevent corruption are corrupt themselves.



posted on Apr, 25 2010 @ 04:14 AM
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reply to post by yellowcard
 


Personally i could not give a feck about those people. There is a price to pay in so many things in life, and they know they too have to pay for it.

But like you said its only the con of the stock market that is totally fixed, that makes these people like this.



posted on Apr, 25 2010 @ 04:43 AM
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Well i'm very happy that those millionairs no longer have to suffer. I'm glad that instead of having millions to stash away, they have billions. Now, excuse me while i go work my minimum wage job on a sunday

*Leaves like a happy little work ant*



posted on Apr, 25 2010 @ 05:16 AM
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Please tell me someone did not say uncontrolled capitalism.


What controls would you like in effect?

I mean really, the government/private banks control the FIAT money supply.

The governments enact every control parameter by the corporate entities that they can imagine to destroy competition.

The governments enact trade treaties that make multi national mega corporations the rule and not the exception.

The banks in the US are forced to give loans by the government to people that cannot pay them back and THEN the mega banks and finance corps like Goldman Sachs bundle these travesties into derivative funds, sell them, and then SHORT them to make billions.

Yes, no regulation whatsoever.

Well, one good thing is, it seems the propaganda is working.



posted on Apr, 25 2010 @ 05:47 AM
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In the words of Midnight Oil:-

"The rich get richer, the poor get the picture, the bombs never hit you when you're down so low..."

The GFC accelerated the redistribution of the world's wealth from those who have not to those who already have at a rate probably seen only one or two times before in human history...

And there isn't a lot most of the world's people can do about it...



posted on Apr, 25 2010 @ 06:08 AM
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Originally posted by endisnighe
Please tell me someone did not say uncontrolled capitalism.


What controls would you like in effect?

I mean really, the government/private banks control the FIAT money supply.


That's effectively uncontrolled capitalism - the US government that is ought to maintain a sustainable economy. As soon as they transfered control of the monetary system to the Fed, they ignited uncontrolled capitalism as the (privately controlled) Fed serves its own interest - which is the greed of a few elite individual families - and not the interest of the American people.



posted on Apr, 25 2010 @ 06:24 AM
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reply to post by Mdv2
 


That is still not uncontrolled capitalism. It is controlled by the private banking cartel created by the man behind the curtain.

We are arguing semantics here but in no way shape or form is this, anything but a controlled type economic system.

There is no free markets.

You cannot have free markets when the currency is based on nothing.

I just have an argument with the use of "uncontrolled" as a precursor to the word capitalism.

True capitalism does not have all of these controls created by the ones in power.

The use of these terms are an attempt to demonize free market systems to increase even more control.

And the argument that capitalism ends with multi national mega corps is also a misnomer. Until all of these "supposed" free trade treaties were enacted, the ability of these huge corporations were hampered by the sovereignty of the different nations. Now, with regulations that hamper smaller businesses in comparison to the mega corps, what are we seeing?

Well soon enough no one will be allowed to start a business because everyone is being conditioned to believe that the government will save us from these evil corporations. I agree to a degree. But, the corporations will not cease to exist, they will just be controlled by the governments or vice versa. You can see it by the very regulations being instituted by the US congress now. They are putting MORE power into the hands of agencies like the federal reserve and the other mega finance corps.

To the detriment of smaller banks, corporations and businesses.



posted on Apr, 25 2010 @ 07:18 AM
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Thats probably why we are in a depression;
Its because those people are keeping all the money and not letting it circulate



posted on Apr, 25 2010 @ 04:59 PM
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reply to post by yellowcard
 


Increasing unemployment is how the stock market goes up -- not increased sales:

www.profitconfidential.com...



Big corporations can't control their revenue growth, but they can squeeze every expense to pad the bottom line. So, while sales fell slightly, earnings increased, and investors lived happily ever after.


www.sustainer.org...



The stock market always has the potential to go into a boom. Stock prices go up a little, people earn interesting returns. More loose money comes to the market, prices go up even more, attracting still more money. Rumors about a bull market begin; more money comes in. How can you beat 14% per month? Usually the market doesn't become completely unhinged from the underlying value of the shares. The last time it did, in 1929, the real economy was also overbuilt; the rich had just received tax cuts; financiers in Wall Street had become objects of public admiration (and then objects of scandal); many clever devices to leverage debt with no underlying assets had been invented; and government officials were acting primarily as cheerleaders and weren't paying much attention to what was really going on.


www.informationclearinghouse.info...-cover



The Dow, the S&P 500, and the NASDAQ are primarily indices of large U.S.-based companies, not main street businesses: more Davos than Chamber of Commerce. These increasingly cosmopolitan firms have been busy globalizing and expanding their operations overseas. In 2006, according to Standard & Poor's, 238 members of the S&P 500 broke out revenues between U.S. and non-U.S. sales. These companies notched about 43.6 percent of sales outside the United States. For large companies that had already saturated the U.S. market, the home market was something of an afterthought. In the second quarter of 2007, 66 percent of Coca-Cola's beverage business came from outside North America.


[edit on 25-4-2010 by drew hempel]

[edit on 25-4-2010 by drew hempel]



posted on Apr, 25 2010 @ 07:09 PM
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Originally posted by yellowcard
Uhm, that's because the stock market is up ~30% in the past year...


Stock != realized wealth. Anyhow, I'm sure this thread will become full of people who hate the rich, and it's really the NWO and blah blah blah....but really the only reason this is true is because the stock market is up that amount...the article has an agenda


[edit on 25-4-2010 by yellowcard]


I might agree with you if we didn't have history.

I might be more willing to accept that just maybe there is no huge conspiracy of secretive shadowy overlord NWO, illuminiti, TPTB et al plotting and scheming to mentally enslave & profit from us tax slaves .. and that the uber rich elitists obtained resources with hard work happy accidents chasing the "american dream"...

Except that "birds of feather flock together"; billionaire rich people will team up with peers just like so called "inner city" youth "gang" up into crips or bloods.. we're tribal beings. Street gangs use intimidation and force to guard interests on City street.. banker gangsters are no different protecting their turf on Wall street...

Even after a brief gander at the financial history of the US I don't think it's unreasonable to opine at least some of the super rich have ganged up to manipulate our system for their benefit to the extent of their abilities. It's not an accident mccain and john kerry married into the robber baron bloodline..

Who were the robber barons?.. ask Marine Corps General Smedley Butler:

In this testimony, Butler claimed that a group of several men had approached him as part of a plot to overthrow Roosevelt in a fascist military coup using the recently created American Liberty League constructed for the purpose of the coup with the model being the 1930's French fascist Croix de Feu.

Links to references:
www.takeoverworld.info...

The baron banker gangsters apparently tried to engineer a fascist coup.. and OMG Prescott bush was a nazi money money man, gee imagine that... but according to the SPLC only militia conspiracy terrorist could make the silly suggestion these same billionaires have turned post 9/11 USA into a proto fascist shell of it's founding fathers virtuousness self.



posted on Apr, 25 2010 @ 07:17 PM
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reply to post by drew hempel
 


Boy, I have been reading your comments on several threads. Do you have any ideas of your own?

The stock market has increased yes partly to corps cutting the bottom line on their expenses, but only decreasing the bottom line has NOTHING to do with the stock market.

The stock market has increased mainly due to the same thing that happened in the GD. Uber rich entities using the decrease in stock market values have bought up all the valuable assets, hence increasing the value of the still existing stock.

Where as the stock market really has no tie in any longer to the REAL American economy. The creation of assets and jobs.

The stock markets are NOT tied into employment here any longer. The stock market is a collection of assets with value that has no inherent connection to working people.



posted on Apr, 25 2010 @ 07:25 PM
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reply to post by endisnighe
 


www.leftbusinessobserver.com...



The financialization part is harder, but here’s a quickie version. The whole point of production under capitalism is not the satisfaction of needs, but the accumulation of money. In other words, it’s impossible to separate the economic world into a good productive side and a bad financial side; the two are inseparable. The monetary surpluses generated in production—the profits of capitalist businesses—accumulate over time and demand some sort of outlet: bank deposits, bonds, stocks, whatever. It’s going to be that way until we replace capitalism with something radically different. And we have a consumer debt problem not because of some sinister conspiracy of bankers, but because our managerial class has kept wages down for the last 35 years. In order to maintain some semblance of a middle-class lifestyle, people have borrowed from the rich who’ve claimed most of the gains of an expanding economy. In other words, you can’t easily separate finance from the so-called real economy.



posted on Apr, 25 2010 @ 07:32 PM
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reply to post by yellowcard
 




Wait till your child dies from an easily preventable disease coz you didn't have any money; I'll bet you'll sing a different tune.

10 million children die from lack of health care

While the line in the sand is miles wide and different shades, their wealth has crossed it in a major way, and I don't think this should be 'normal' at all.



posted on Apr, 25 2010 @ 07:33 PM
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reply to post by endisnighe
 


doughenwood.wordpress.com...



As everyone probably knows by now, the SEC is accusing Goldman of tricking clients into buying some crappy mortgage securities, ones that were handpicked as likely to go under by another of its clients, hedge fund hotshot John Paulson. To bet against these securities, Paulson needed someone to take the other side of the trade; basically, Goldman brokered a deal so that the buyer’s almost-certain losses would be the source of Paulson’s almost-certain gains. It all worked out for Paulson, or so the SEC says. But Goldman can afford the best lawyers in the world, among them a former top Obama advisor, and the SEC is staffed by civil servants, so it’s quite likely that Goldman will get off lightly or better.



posted on Apr, 25 2010 @ 07:34 PM
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reply to post by yellowcard
 


Well to be fair, the people who are angry about the rich getting richer in the stock market are angry because the system was rigged in this last round against them.

The stock market is up 30% artificially. It is up because the idiots who crashed our economy were protected from the natural consequences of their choices and behaviors by a bailout. If they hadnt been protected from the consequences of their own choices and behaviors they would not be richer this year.

People who are not rich are angry because they have not been not only shielded from the natural consequences of their choices, behaviors, etc., but in addition they are bearing some of the burden for the bad choices made by the rich.

The upset here is not just envy of those who have more. There is a real and reasonable anger that the system is not fair and at this point in time it was hugely unfair, obviously unfair, and the upper classes have basically had a "let them eat cake" attitude towards the suffering of the poor and middle class.



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