Re: A Home Like What?
- From: mg <mgkelson@xxxxxxxxx>
- Date: Wed, 2 Jul 2008 14:21:06 -0700 (PDT)
I worked at a steel company for 20 years that eventually shut down.
During that period, because of my continually low seniority ranking, I
was moved around a lot. In fact, after I left I counted the total
number of jobs I had worked on at the steel plant and it was 16.
Anyway, it was as interesting experience because I met a lot of people
and over the years, I was able to classify people who had money into 3
categories:
1. Inherited the money.
2. Got their money from their rich spouse.
3. Started a small business on the side.
Those falling into categories 1 and 2 probably accounted for about
95%. Those falling into category 3 spent their entire lives working 16
or 18 hours a day and managed to become wealthy shortly before they
died and their children inherited the money.
John McCain falls under category 2.
On Jul 2, 1:03 pm, Oldi...@xxxxxxxxx (Olly Mensch) wrote:
mg - I thoroughly disagree with your views on how people got rich!!! You
chose to overlook the millions who came to this country - with nothing -
and, through hard,endless labor, and sensible living, finally were able
to attain a comfortable living and some savings,which, in turn they
invested wisely, and -in the end - some of hem did, indeed, become rich.
Only in America.
Olly
If you'll reread my comments, you'll note that I didn't use the term
"rich". Initially, I used the term "people who had money" and later in
my comments I used the term "wealthy". My comments are based on my
informal survey of perhaps 100 people I worked with over a period of
20 years. So, I wasn't talking about the very rich or the super rich.
I was merely talking about how the working class typically becomes
wealthy. I believe one could define John Kerry and John McCain, for
instance, as working class, or maybe upper-middle class people who
became wealthy by marrying someone who had money.
Of course there are people who do get very rich very quickly in this
country. David Faber, on CNBC, for example, currently has a special
running, entitled "The Rise of the Super Rich" in which he shows how
the top .001% live. Faber indicates that we are living in a new gilded
age where "largely through private equity and hedge funds, Wall Street
has created wealth more quickly, dramatically, and controversially
than ever before".
http://www.cnbc.com/id/24791078
It would be interesting to know if there has ever been any detailed,
objective study on people with different levels of wealth in this
country that provides information on how many there are for the
different categories and how they got their money. I don't believe
I've ever read anything on that.
.
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- Re: A Home Like What?
- From: mg
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- From: Olly Mensch
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