Joe Sixpack is still asleep at the wheel...

[Guest]

An interesting article that I came across in the last couple days in the MSM was worthy of a comment or two and I was astounded at the level of ignorance and stupid that still is alive and well among the masses.

Url : http://www.theage.com.au/executive-style/five-million-maketh-the-millionaire-20120726-22tzg.html

Five million maketh the millionaire

New survey says millionaires don't feel rich until they reach the five million dollar mark.

A study found that 26 percent of US millionaires do not actually feel rich, and would need an average of $US5 million of investable assets to begin to feel wealthy.

It's been a rough go for millionaires lately. Apparently, even if you have a good chunk of cash in the bank you still don't necessarily feel wealthy.

According to Fidelity Investments' latest report on millionaires' attitudes towards investing, 26 percent of US millionaire respondents said they did not actually feel rich, and that they would need an average of $US5 million of investable assets to begin to feel wealthy.

That's actually a significant difference from a year and a half ago, when 42 percent of the same group said they didn't feel wealthy, and that they would require $US7.5 million to begin to feel rich. Seems like their thinking has evolved to the realities of the current financial climate.

The report, which surveyed more than 1,500 respondents, also found that the vast majority of millionaires in the US 86 percent are self-made. In Australia, there are 179,500 millionaires.

And millionaires' paths to wealth affect the way they invest. The survey found:

Self-made millionaires said their top sources of assets included investments/capital appreciation, compensation and employee stock options/profit sharing, while those born wealthy were more likely to cite inheritance, entrepreneurship and real estate investment appreciation as key asset sources.

Born-wealthy millionaires were more likely to use financial advisers, especially on issues such as personal trust services and foundation/endowment management.

When it comes to investment strategies, self-made millionaires were more likely to add equity investments, while those who were born wealthy typically had more real estate investments.

Fidelity found that today's millionaire is, on average, 61 years old with $3.05 million in assets. And their outlook is sunny: respondents were more optimistic about the future financial environment than at any other time in the survey's five-year history.

My comment :

When you consider the US dollar has lost well over 95% of it's value since inception and the fact that the current US Government has borrowed more US dollars into existence than all previous US Governments COMBINED, then it's hardly any wonder.

The people feel the effect of inflation, but don't necessarily understand it.

Whilst all eyes are on the Eurozone right now, the US is in just as bad (if not worse) position. Even if they removed all government expenditure from the system except their top 3 AND taxed every working citizen in the US 100% of their wages, they couldn't even pay back the INTEREST on the debt they owe the US reserve anymore. They are in a perpetual debt spiral to infinity now and whilst the Euro is doomed and set for default, the US will ALSO default - but through endless printing of their currency.

Since the US dollar is the current world reserve currency, backed by absolutely nothing (thanks to the actions of Nixon in '71), by default the entire world is now on a debt based, fiat system backed by absolutely nothing.

Want to feel rich on 1 million US Dollars?

Buy 1 million US in GOLD and SILVER and you'll be laughing all the way (at the bank) as the psychos in power print their worthless fiat dollars to infinity.

You need to be in commodities and investments of intrinsic value with no 3rd party counter risk to protect your wealth people - fiat dollars are NOT MONEY and people are yet to wake up to it.

Money is a CONSTANT STORE OF WEALTH OVER TIME by definition.

Are the fiat dollars in your pocket doing that?

The replies....

Have you worked out how to buy the daily bread with those ingots yet. How about we divide them into smaller ingots and stamp values on them? We could call it money

Intrinsic value, eh? So, the amount of gold you would need to exchange for any other item remains constant no matter the context. You sure about that?

Valuing is a human activity. The result of this activity is "value", a property we give to things, not something that is intrinisic.

Enjoy stroking your yellow shiny stuff Educated Citizen but please try and refrain from the condescending tone.
Have you read the recent piece by none other than Warren Buffett 'Why stocks beat Gold and Bonds'?

For educated citizen: I'm just taking some gold to the supermarket to see if I can exchange it for food... back now ... the checkout person wouldn't accept it ... maybe I shouldn't have changed over all those flat dollars ... might do better swapping gold for fuel for my car ...?

Humanity is doomed I think.

The worst part is, these people vote.

 

[hiho]

Humanity is doomed I think.

agreed

 

[Dogmatix]

Those people will come around - right about when the least amount of profit can be gained from PMs.

Fdr some of you, these people will be your PM buyers, so be thankful they're around

 

[fishball]

Think about how stupid the average person is.

Then realize that half the population is dumber.

Then realize they probably vote too.

 

[JulieW]

Half are less than average intelligence and the average is pretty low. As someone wise once said, cast your pearls not before swine lest they turn upon thee and rend thee.

I think stackers need to be mindful of the negativity that could arise against them if/when the game is over and the losers are very, very angry.

 

[Macros_The_Black]

Even though I am scornful of TPTB and the current brainwashed state of the general populace, I find intellectual elitism distasteful.

This IS the human race we have - it's what we are. Rather than pour scorn on those poor people who couldn't possibly see the conspiratorial corruption the way we do, and who haven't taken the incredible and brilliant steps we've taken to protect ourselves, I mourn the suffering that is undertaken by ordinary people around the world, just because WE (collectively) have permitted it.

Why try to win arguments and demonstrate our superior knowledge over the so-called sheep, when we could be mounting campaigns for them to join us and reject the status quo ... taking the moral high ground won't change a thing (except perhaps show us to be grumpy old men and women) and as JulieW says, we need to be mindful of unnecessary negativity.

The SS community can be extremely cynical at times (me included), when IMO, being sceptical rather than cynical and demonstrating critical thinking is a far more useful skill, and harder to practice.

We may of course, still be doomed no matter what ... I'm taking odds - 50:50 anyone?

 

[Dogmatix]

^ Thank you.

This idea that we're all so much more clever is bulldust. The reality is that people are intelligent in different ways, and if you have had no reason to be exposed to PMs ever, then why would you ever consider them? I know some brilliant people that wouldn't have given our monetary system a second thought. I also know of several posters on this site who post the most juvenile reasons for having PMs that I start to question whether PMs are worth having (merely due to such an association).

 

[radiobirdman]

Baaa

 

[renovator]

Baaa

:lol:

 

[JulieW]

I tried to wake up people for a while. Now as far as they're concerned I sold out 'when the bubble popped', and I'll moan how I should have hung on when the time is right.

 

[southerncross]

I know some really intelligent people, a couple of members of mensa. People who have tested IQ's in the top 3-5 % , Professors at University, Surgeons, Lawyers etc. All dumb as shit, couldn't even change a tire to save their life, light a fire, grow a carrot, operate a firearm safely, know what end of a cow Milk comes out of or how to get it out.

Mind you I suck at maths, and while I might enjoy operating on your appendix you probably wouldn't, and if your Lawyer comes after me because of it then I will get mine to tell you to go milk the brown end of a dairy cow.

I guess what I am saying is that "smart and intelligent" is relevant to what life throws at you. I also know a person that can not read or write but can totally rebuild an engine in a couple of days and a five year old that wonders why I swear at the T.V sometimes when the people on it can't hear me.

 

[JulieW]

The answer is somewhere in here:
[youtube]http://www.youtube.com/watch?v=IDsnCrSfzCQ[/youtube]

 

[radiobirdman]

Most people with a good memory can pass themselfs off as being smart till there outside there comfort zone

meself I can add up no probs but fucked if I can spell ,and no idea what happend 2 days ago .

 

[Guest]

Most people with a good memory can pass themselfs off as being smart till there outside there comfort zone

meself I can add up no probs but turtled if I can spell ,and no idea what happend 2 days ago .

That's old age mate, not intelligence!

:lol:

On a more serious note though, I don't think I can realistically pull my head in with good conscience and let the sheep off the hook here. They are friggen stupid and worse, they dictate the shape of this nation through their stupidity and by extension, the quality of my life.

Whether we're talking about some moron on the road who nearly causes an accident, the twit who borrows 800k for their 'first home' or the collection of thickheads who vote in the polly that gives them the biggest lamb chop, sure enough the actions of the uneducated contribute to the status quo and I don't know if any of you have been taking notice, but the status quo of this country has been steadily going to utter crap for some time now.

They don't and won't get my sympathy, regardless.

 

[spannermonkey]

Most people with a good memory can pass themselfs off as being smart till there outside there comfort zone

meself I can add up no probs but turtled if I can spell ,and no idea what happend 2 days ago .

That's called CRAFT DISEASE

Can't
Remember
A
Frgn
Thing

 

[Dogmatix]

Most people with a good memory can pass themselfs off as being smart till there outside there comfort zone

meself I can add up no probs but turtled if I can spell ,and no idea what happend 2 days ago .

That's old age mate, not intelligence!

:lol:

On a more serious note though, I don't think I can realistically pull my head in with good conscience and let the sheep off the hook here. They are friggen stupid and worse, they dictate the shape of this nation through their stupidity and by extension, the quality of my life.

Whether we're talking about some moron on the road who nearly causes an accident, the twit who borrows 800k for their 'first home' or the collection of thickheads who vote in the polly that gives them the biggest lamb chop, sure enough the actions of the uneducated contribute to the status quo and I don't know if any of you have been taking notice, but the status quo of this country has been steadily going to utter crap for some time now.

They don't and won't get my sympathy, regardless.

You can bet a lot of them were reassured by the people they trust - ie, financial advisors, friends, family, economists, even the media and their very own Govt. I'd argue that some people just don't have the time or inclination to do their own research.

It doesn't let them off the hook, but it isn't necessarily a case of wilful ignorance.

Edit: even the 'Sage of Omaha' is against PMs. Swimming upstream takes more than the average willpower IMO.

 

[Chilli]

I think most people refer to intellect as intelligence, one can have several degrees and be highly intellectual but thick when it comes to intelligence.

 

[Guest]

You can bet a lot of them were reassured by the people they trust - ie, financial advisors, friends, family, economists, even the media and their very own Govt. I'd argue that some people just don't have the time or inclination to do their own research.

It doesn't let them off the hook, but it isn't necessarily a case of wilful ignorance.

Edit: even the 'Sage of Omaha' is against PMs. Swimming upstream takes more than the average willpower IMO.

Indeed. Being the voice of reason in a torrent of stupid takes considerable tenacity and integrity I've found.

But there's one thing I've found that the masses hate more than corruption strangely enough and it's those that refuse to capitulate with the establishment.

Go figure.

 

[trav]

Think about how stupid the average person is.

Then realize that half the population is dumber.

Then realize they probably vote too.

Yep. George Carlin will be missed.

http://www.youtube.com/watch?v=8rh6qqsmxNs

 

[trew]

On a more serious note though, I don't think I can realistically pull my head in with good conscience and let the sheep off the hook here. They are friggen stupid and worse, they dictate the shape of this nation through their stupidity and by extension, the quality of my life.

Whether we're talking about some moron on the road who nearly causes an accident, the twit who borrows 800k for their 'first home' or the collection of thickheads who vote in the polly that gives them the biggest lamb chop, sure enough the actions of the uneducated contribute to the status quo and I don't know if any of you have been taking notice, but the status quo of this country has been steadily going to utter crap for some time now.

Arrogance is worse than stupidity.

The "sheep" get what they want, go happily through life and get bailed out in the end.
You spend your life bitterly whining and complaining how the "twits" are to blame for your quality of life.

Who is the stupid one ?