View From The Top

[VJW]

PESSIMISTIC BILLIONAIRES


* Pimco’s Bill Gross has likened the current state of the national economy to Rome burning, only worse.

* Microsoft’s Bill Gates is very worried about the dollar due to the rapidly accumulating debt racked up by the current administration.

* Warren Buffet has voiced his concern about the U.S. economy for some time, from the perils of living in Squanderville, to the more recent oligarchical Sharecropper Society, which are just two of his rebuttals to the rosy scenario painted by both Wall Street and the Bushies.

* Sir John Templeton, Jim Rogers of the Quantum Fund, and George Soros have all expressed similar concerns.

What do all of these people have in common ? They are all billionaires.

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[Ima saver]

Re: View From The Top

Well I am not worried, after all I don't have billions to lose!!

[sweeps]

Re: View From The Top

Hey VJW, one of your premises is that billionaires didn't get to where they are due to skill and hard work. You say they got there because of lucky breaks and family ties.

Assuming that's true, then who cares what they think?

[Ima saver]

Re: View From The Top

Don't worry, be happy!!

[VJW]

Re: View From The Top

Hey VJW, one of your premises is that billionaires didn't get to where they are due to skill and hard work.

False.

You say they got there because of lucky breaks and family ties.

False.

Assuming that's true

A false assuption.

then who cares what they think?

Everyone should, as those billionaires wish to retain their billions, just as everyone else wishes to retain their assests, not to mention they've expressed a concern for American society in general.

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[sweeps]

Re: View From The Top

Oh really?

The bottom line is that the stats run quite heavily the other way, as some 86% of those that are currently considered being the “wealthiest” (as being on the Forbes 400 list), either directly inherited their wealth or achieved it with great assistance form their wealthy family.

I realize this does not sit well those that promulgate the ‘pull yourself up by your bootstraps’, ‘self-reliance’, and most of all ‘hard work’ ideology, but that is the reality. Of course there are those that have accomplished it on their own from scratch, but people need to realize that they are in a distinct minority. I’ve never contended it cannot be accomplished, I’ve merely pointed out that it is not the pie-in-the-sky panacea that is constantly portrayed by some.

Ok, I'm done humoring you. You make circular arguments and defend them with a liar-liar-pants-on-fire defense.

Have a good one. :

[locolorenzo24]

Re: View From The Top

So what...Some got it through connections, some earned it?...WHO CARES? Whatever a billionare has to say doesn't cause me to lose any sleep at night. If the dollar collaspes, OK then let's go make our food, go become self-reliant. If we have to live without conveinences, then let's at least live.
I thought this forum was concerned with saving money, not a "doom-gloom" Money is power mentality....
Go post over at Money.com or something similar.

[cercis]

Re: View From The Top

86% does not equal all. Now, Bill Gates was one listed as having benefitted heavily from his parents' money and contacts.

VJW specifically states that there are those that have accomplished it on their own from scratch. But even if none of these did, they do know how to maintain that money. Warren Buffet is worth watching, his advice is generally spot on.

[sweeps]

Re: View From The Top

I agree loco. cercis, yup, you're right -- 86% does not equal all, but it's close and it proved my point.

As far as I'm concerned, it really doesn't matter to me what billionaires are doing with their money. So what if Bill Gates is shorting the dollar. How about if he tells us before he does something like that. Now by telling everyone after, he's just boosting his own bottom line. You don't think Warren Buffet profits from moving the market?? And how can these billionaires sending people into a panic help our economy?

Show me some investors that can't afford to lose $50,000, let alone $500 million. I'd be interested to see what they're saying and doing.

[PRICEPLUS]

Re: View From The Top

I am and will remain optimistic! I am not sitting on a dung heap waiting for a monsoon to wash away everything. Today life is good! I may not be here tomorrow. I make plans but that is only to make God chuckle!

[PRICEPLUS]

Re: View From The Top

Sweepsplayer,

I agree with your assessment of things!

[jmjj215]

Re: View From The Top

An interesting exercise is to read old newspapers and hear the doom and gloom in those as well.

[Ima saver]

Re: View From The Top

I agree with loco. I have been hearing these gloomy things since Eisenhower was elected.

[VJW]

Re: View From The Top

Really ?

Then you heard things in the past from people that didn’t know what they were talking about, eh ?

Of course, in this instance, all the underlying points made by the listed billionaires are factual reality.

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[VJW]

Re: View From The Top

I thought this forum was concerned with saving money

Does financial reality come into play with “saving money” ?

not a "doom-gloom"

Where’s the “doom-gloom” you refer to ? I’ve merely presented the facts.

Go post over at Money.com or something similar.

Can’t handle the truth, eh ?

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