How Many Of You Are "One Percenters"

[Marshall]

I had them +4.5 and straight up for a 5k plus win. Today , I am a 1%'er! LOL


Those Tigers have been very good to me this year.

her hair is thin, face a bit plain, and butt a tad wide, but I'd agree she is a Sexy MoFo......of course, nutty as a loon.....did you enjoy talking to her?

[WTF]

Originally Posted by dilbert firestorm

on the betting line?

Yes but last night the majority of my money was made was on the money line, it was 1850 per 1k wagered.

Marshall, they are all loons at times but nina was loonless in my time with her and that accent was a huge turn on. So a big 'Hell yes' in answer to your question.

[waverunner234]

Originally Posted by WTF

Yes but last night the majority of my money was made was on the money line, it was 1850 per 1k wagered.

You should have bet on the Bank Of Japan last Sunday when they intervened in the market. I was in there and believe me, it was big fun.

[I B Hankering]

Originally Posted by WTF

Jackie is not rich but he wants to act like it. The rich throw you/us a bone Jackie and you get to scrap off the leftovers

http://sociology.ucsc.edu/whorulesam...er/wealth.html

Wealth, Income, and Power

by G. William Domhoff

This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators.
Some of the information may come as a surprise to many people. In fact, I know it will be a surprise and then some, because of a recent study (Norton & Ariely, 2010) showing that most Americans (high income or low income, female or male, young or old, Republican or Democrat) have no idea just how concentrated the wealth distribution actually is. More on that a bit later.
As far as the income distribution, the most striking numbers on income inequality will come last, showing the dramatic change in the ratio of the average CEO's paycheck to that of the average factory worker over the past 40 years.

I found nothing in this article I disagree with. Moreover, it reaffirms many beliefs I already held.

[I B Hankering]

Originally Posted by Jackie S

It seems a whole lot of hard working Americans had no idea that they were "rich" untill the Federal Government started telling them.

Of course, that is the real hidden agenda in the entire Obama shell game. You first inflame the masses by telling them that there are a bunch of rich people keeping them down, and that if you just vote Democrat, they will take from they "rich" people and redistribute the wealth it to his "voters".

But then the shoe drops. They "re-define" what rich is, and the next thing you know, the ole boy that does nothing more than hold down a good job is now "rich". He is now the enemy of the masses. The very people he was cheering with a few months ago are now beating at his front door with the pitchforks and torches.

I have a good friend that ownes a Plumbing Company. He does pretty good, has about 8 trucks that do outcall, plus some bid contract work. He is in one of his trucks every day. We eat breakfast at a local cafe on occasion.

He is "rich", according to President Omama. But not "Wall Street Rich", because I doubt any of that crowd has to stick their hands in shit every day, literally.

WTF’s article serves to further illustrate the fallaciousness of Obama’s demagoguery against the 1%; wherein, he (Obama) lumps those earning $250,000 per year with a net worth less than $5M in with those who make in excess of $1M per year with net assets totaling more than $5M. Those in the first group are not truly financially secure – as Obama, et al, would have everyone believe – as per this article:

“While an after-tax income of $175k to $250k and net worth in the $1.2M to $1.8M range may seem like a lot of money to most Americans, it doesn't really buy freedom from financial worry or access to the true corridors of power and money. That doesn't become frequent until we reach the top 0.10% with $5.5M. . . .”

“The picture is clear; entry into the top 0.5% and, particularly, the top 0.1% is usually the result of some association with the financial industry and its creations. I find it questionable as to whether the majority in this group actually adds value or simply diverts value from the US economy and business into its pockets and the pockets of the uber-wealthy who hire them. They are, of course, doing nothing illegal. . . .”

“[T]he bottom line is this: A highly complex set of laws and exemptions from laws and taxes has been put in place by those in the uppermost reaches of the U.S. financial system. It allows them to protect and increase their wealth and significantly affect the U.S. political and legislative processes. They have real power and real wealth. Ordinary citizens in the bottom 99.9% are largely not aware of these systems, do not understand how they work, are unlikely to participate in them, and have little likelihood of entering the top 0.5%, much less the top 0.1%. Moreover, those at the very top have no incentive whatsoever for revealing or changing the rules.”
http://sociology.ucsc.edu/whorulesam...t_manager.html

In another recent thread, there was remark about there being no bankers in jail for creating the Wall Street Crisis . . . and again, WTF's article explains why: the bankers haven’t done anything illegal, because – unfortunately – the laws are always lagging behind (EDIT: or written so that there is no crime is committed).

As to the current disparity of wealth in society, here is a chart from wiki regarding the income of the top 1% over the course of the last century. Whether ethically right or wrong, this chart shows this country has been in this position before. http://en.wikipedia.org/wiki/Income_..._United_States

[Sensia]

Originally Posted by Jackie S

With all due respect, I think if you go back and read the initial post, you will see that just about everybody, except the couple you mentioned, have missed the point.

Of course, the way this discussion has went, it seems that the die is already cast. It is as I have stated. The American dream is no longer based on initiative, hard work, and the good sense to put them to use. The American Dream is now "give me what someone else has".

I disagree that might have been the case years ago but I think that the so called "American Dream" now is no longer. You work hard all your life and do all the right things but it is only sheer luck for some to really achieve the so called American Dream. The American Dream is now a lie imho. Just look around you, look at the millions of American's that are now out of work who have lost their homes, and the millions of students coming out of college in debt up to their ears and can't get a job out of college now.

[waverunner234]

Originally Posted by Marshall

D'Rufus, a currency trader? Really? I'd imagine one would have to be smarter, more informed and have better judgment than you to be successful at that..........

Lol you don't believe me? Just a tip and a look into a currency trader's work.

Today before markets open for the week (Wellington starts 5 hours from now, Sydney an hour later and Tokyo 2 hours after Sydney) I am going to borrow GBP 624,000 to convert into EURO 725,000 at a rate of approx. 0.8600

Let's just see where we are later this week.

And this is just 1 of probably 50-100 trades in a regular week!

[I B Hankering]

Originally Posted by Guilty Pleasures

I disagree that might have been the case years ago but I think that the so called "American Dream" now is no longer. You work hard all your life and do all the right things but it is only sheer luck for some to really achieve the so called American Dream. The American Dream is now a lie imho. Just look around you, look at the millions of American's that are now out of work who have lost their homes, and the millions of students coming out of college in debt up to their ears and can't get a job out of college now.

The American Dream was about working hard and scrimping and responsibly saving for a future reward and tomorrow. Since the late sixties, too many in America have been living for “today” and depending too heavily on borrowed money garnered by second and third mortgages on their homes to offset the sums they charged to their credit cards. To simply blame it on “greedy bankers” is short sighted and without merit. Most of the “borrowers” were every bit as culpable as the “lenders”. If you wish to argue the “borrowers” were “short-sighted”, “greedy”, “stupid” or “ignorant”, have at it . . . no one will disagree.

[dilbert firestorm]

Originally Posted by waverunner234

Lol you don't believe me? Just a tip and a look into a currency trader's work.

Today before markets open for the week (Wellington starts 5 hours from now, Sydney an hour later and Tokyo 2 hours after Sydney) I am going to borrow GBP 624,000 to convert into EURO 725,000 at a rate of approx. 0.8600

Let's just see where we are later this week.

And this is just 1 of probably 50-100 trades in a regular week!

why do you have to borrow to play? is that margin plays? that part I don't get.

you actually make money doing currency plays?

I dabbled in it in one of those CNBC stock market contests 2 or 3 years ago. didn't quite get the hang of it.

[waverunner234]

Originally Posted by dilbert firestorm

why do you have to borrow to play? is that margin plays? that part I don't get.

you actually make money doing currency plays?

I dabbled in it in one of those CNBC stock market contests 2 or 3 years ago. didn't quite get the hang of it.

I do it for living, and believe me it's very rewarding.
Yes to make it worth while you have to use margin, borrow money. If you have 10K yourself than you can borrow like a million to play with. It's the big numbers that give the big profits. (And the big losses when it goes the wrong way and you don't stop it)

[Jackie S]

I am getting shit all over by the liberal faction on this Board because I started a business years ago, worked my ass off to build it into a profitable manufacturing facility, employ 13 fine men who support their famillys from the wages they earn, and I pay the Government every dollar I owe, and started a thread asking if similar folk were tired of being castigated by a bunch of malcontents for doing the same.

And the liberal shitheads say they think I am out of line. And what do they do? Sit around and brag about trading currency. They produce nothing, except profits ona ledger. Let me repeat. They produce nothing.

What we have is a small microcosm of what is wrong with this Country.

[waverunner234]

Originally Posted by Jackie S

And the liberal shitheads say they think I am out of line. And what do they do? Sit around and brag about trading currency. They produce nothing, except profits

What we have is a small microcosm of what is wrong with this Country.

Lol, what I do to stimulate the economy? You'd be surprised.
I spend money, big time. If that doesn't help the economy I don't know what does.
For instance I'm gonna buy a new car in a month or so. too bad it's not an american car but that's just because Americans don't know how to build cars. So I go German. They know how to built decent cars. It's going to be an Audi.
But hey I still need maintenance.
And I spend money on ladies.
And you won't believe this .......... I give money to homeless shelters and soup kitchens.
I don't have kids myself but I pay for foster children.
And I spend lots of money in all kinds of restaurants.
I spend money on the best hardware and software that I think I could use.
I spend lots of money on healthcare

Do you really need to know everything I spend?

And besides that, the vast majority of people in my business is from outside USA so the profits I make is transferring money from overseas to the USA!!

Oh and sometimes I even pay taxes so that Obama can spend my money.

[CuteOldGuy]

Actually Wave, your doing what I consider my dream job, second only to being the official "masseur" for the Hawaiian Tropic girls. I'm trying to learn that now.

[waverunner234]

Originally Posted by CuteOldGuy

Actually Wave, your doing what I consider my dream job, second only to being the official "masseur" for the Hawaiian Tropic girls. I'm trying to learn that now.

Lol I forgot that I also employ and illegal beauty to clean my house.
But the Hawaiian girls sound fun

[waverunner234]

Originally Posted by Jackie S

I am getting shit all over by the liberal faction on this Board because I started a business years ago, worked my ass off to build it into a profitable manufacturing facility, employ 13 fine men who support their famillys from the wages they earn, and I pay the Government every dollar I owe, and started a thread asking if similar folk were tired of being castigated by a bunch of malcontents for doing the same.

And the liberal shitheads say they think I am out of line. And what do they do? Sit around and brag about trading currency. They produce nothing, except profits ona ledger. Let me repeat. They produce nothing.

What we have is a small microcosm of what is wrong with this Country.

1, You didn't understand it. I'm not bragging about trading and the profits are not "profits on a ledger" but hard cash.
2, I have nothing against you being a manufacturer and employing 13 people and getting paid very good for that.

The attacks (and not only mine) were NOT because of you making big money.
The sole reason for the attacks were your attitude, the way you always flash your wallet for everyone to see.
Time and time again you tell us how much money you make.
Don't you see it?
Probably most members of this site are well above median income. You don't need to flash your wallet for that.
From most discussions on these forums you can feel (at least I can) that most members have college degrees or higher, high paying jobs or their own business.
Or are retired with a wealth level that doesn't ask for worry's into the future.

So why all this attention pointed at how much you make. I'd rather see how much you give.

That's why I feel admiration for people like Bill Gates and Warren Buffet, not because of the money they have but because of the money they give.