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Rich People Will Get Killed


The Sick Moon
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Anyone catch The Super Rich and Us by Jaques Peretti on the telly box? Part 2 was on last night, you can catch up with it here. Absolutely incredible how the section of society responsible for the financial disaster then went on to benefit from the quantitative easing program, apparently to the tune of £24k per every household in Britain. As a result, the gulf between the super rich and the poorest in society is mind boggling, greater than at any time before. The greed of the wealthy is simply unbelievable. But it seems some of them are now realising that this imbalance is unsustainable, and they won't get away with living in gated communities, separate from the scum, for ever. People won't put up with it. They will start to kill rich people and take their stuff. It's inevitable. Isn't it?

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TSM,

 

This assumes you know who they are. Lots of money down here, hard to tell the difference between the stupidly wealthy and the 'normal' people as those with the dosh are not ostentatious at all. One of my nearest multi-millionaires (rock-band drummer) is well-liked by the local community.

 

I would rather a moneyed person than the low-life who mug little old ladies.

 

Anyway, you can't take it with you.

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Or they could move to a safe island like this where they can live in peace with their cash with no risk of getting their house broken into......

 

Hear, hear.

 

Present events notwithstanding, the island is an exceptionally safe place to live. Compared with, say the UK which has serious issues for wealthy landowners (burglary/trespassers/caravans/(waste)dumping/theft of animals/plant).

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Yes I watched it TSM, and have also just read The Big Short. Unbelievable, but it is the Emperor's New Clothes. These guys were seen to be making money, and so were rewarded for that without any recognition of the inherent risk and it is that risk that we are all still living with.

 

An economist pal was explaining just how much contingent risk some of the big names were still carrying which arise from the 'synthetics' trading and it was scary billions.

 

It was also interesting how govt policy of the 80s encouraged consumer borrowing just to facilitate the securitisation of debt - remember store cards, red braces and Thatcher?

 

Well, we reap what we sow and the wealth created then was built on sand

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I watched it and, like you, I am appalled at the growing and disproprtionate gap between the rich and the poor and the underhanded way in which austerity is being used to wage a class war against the poor. There is also a growing disconnect between propaganda and reality. We are told there is no more class system, poor people are just lazy, and the condition of the poor continues to get better and better to the point that the poor have now got it too good. The reality couldn't be further from the truth. The class system has only gotten worse since the 1980s under Mrs Thatcher, poverty now includes people who work, and austerity is affecting those who need the most help. Cuts in public spending have been entirely selective and one-sided, aimed against those at the bottom, while public spending in the form of tax cuts to the rich and subsidies to the rich, not to mention bailouts to the rich, have all seen increases. Things cannot continue this way indefinitely. To quote John Ball, the 14th century English priest and one of the leaders of the 1381 Peasant's Revolt:

 

'My good friends, things cannot go on well in England, nor ever will until everything shall be in common, when there shall be neither vassal nor lord, and all distinctions levelled; when the lords shall be no more masters than ourselves. How ill they have used us!… They have wines, spices and fine bread, when we have only rye and the refuse of fine straw; and if we drink, it must be water. They have handsome seats and manors, when we must brave the wind and rain in our labours in the field; but it is from our labour they have the wherewith to support their pomp.… Let us go to the king, who is young, and remonstrate with him on our servitude, telling him we must have it otherwise, or that we shall find a remedy for it ourselves.'

 

He well described our new rich when he wrote of the rich of his own generation:

 

'Now reigneth pride in prize
and covetousness is held wise,
and lechery without shame
and gluttony without blame.
Envy reigneth with treason
and sloth is taken in great season.
God do boot [amend], for now is time. Amen.'

 

The more things change, the more they stay the same. I see the current changes not as a return to the class system - which never really went away anyway - but as a return to the feudalism of John ball's era.

 

Meir

Edited by Meir
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I watched it and it was amazing how much it brought into focus how detached from the real world finance has becomes. Securitisation of risk, derivatives, options trading...all stuff that has very little relation to the real world and everything to do with finding more and more ways of bamboozling joe public so they can cream off the top and reap rewards most people couldn't even fathom.

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What securitisation does is create transactions, it doesn't actually generate value, and it is transactions that are being sought to make money. That's what the banks are looking for all the time - money movements.

 

Just bizarre. I found it all difficult to get my head around until I understood that trying to understand what was going on was like trying to understand a gibbering idiot who only makes sense to himself.

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I found it all difficult to get my head around

 

Yes, this. But the people whose poorly paid job security extends only for a matter of hours don't need to understand finance. They'll understand that a handful of people are spending 1 or 2 million pounds on stupid cars and stuff like that and eventually they just won't stand for it. This is what gets me, the silly things that the wealthy aspire to, the massive houses, the daft boats, more and more cars. Their insatiable appetite for tat to the detriment of everyone else. It can't end well.

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Just bizarre. I found it all difficult to get my head around until I understood that trying to understand what was going on was like trying to understand a gibbering idiot who only makes sense to himself.

 

 

Don't bother with that BABYLON IS FALLEN thread, then....

Edited by quilp
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