The super rich are doing you a favor...

[Earth_First]

The superrich are different from you and me. It's not just that they have more money. It's that they spend more. Much, much, more.

In fact, the superrich spend so much more of their mountains of money, according to a new line of thinking among academics, that they may provide a public service by smoothing out the little dents and valleys in the global economy. As scads of Russians, Chinese, Indians and South Americans have joined the billionaires club due to the rise of emerging markets' industrial might, worldwide recessions have become much fewer in number and far slighter in severity than in past decades.

This makes sense, even if it doesn't make you feel better. For just when many average people in the United States or Europe are slowing down their consumption of goods and services due to the loss of a job or pending home foreclosure, there are an increasing number of superrich worldwide to fill in the spending gap. It's sort of a
perverse fulfillment of the trickle-down theory.

Rather than being resentful of the superrich, perhaps we should all be grateful. The next time you run into a superrich guy at your local Bentley dealer, give him a hug.

http://articles.moneycentral.msn.com/Investing/SuperModels/TheSuperRichAreDoingYouAFavor.aspx

Ran across this while researching another article... :puke:

[RagAss]

1. Hahahahaaaaa !

[Scuba]

2. Fits right in with their "it's the poor's fault" meme. n/t

[SmileyRose]

7. When I die I'll be in debt over my eyeballs and way over my head.

I'm in the bottom 10% of wage earners in the US.

I have a half decent roof - enough to eat - most of the time. Sometimes I've had to rely on family, friends, charities and government to have roof and food but thankfully have never had to sleep in a box under the bridge. Obtaining medical care has been a little dicier but I'm still here so......... the poor in the rest of the rest of the world really have it much worse and I know that.

Now having said all that, I officially classify as "working poor". I just was not blessed with much in the way of book smarts and am more ugly and plain jane. My parents were poor and I didn't got to very good schools. So I started out swimming up stream.

But when it's all said and done, I'm just not willing to break the law, disrespect myself or stomp on other people to get money. So in that regard my low wealth in relation to the rest of America is my own fault.

But I work my ass off for whatever rich white guy sees some value in what few skills I have and if any of them is stupid enough to serious sit there and tell me I don't DESERVE a roof, or food or a doctor I'm pretty sure they are going to end up with a punch in the nose.

[iemitsu]

10. i know where you are coming from smiley.

it is my opinion that having less material stuff equals having more freedom.
we need some money to survive but beyond that it seems that the price of every dollar is some of one's integrity.
i'll bet you have tons of that compared to bush or cheney.

[Scuba]

11. Hear that. I do OK now, but have been poor and know how to cope, which gives me some comfort. n/t.

[soupkitchen]

3. I guarantee the super poor would spend it quicker

If the super rich allowed it to get into their hands

[NNN0LHI]

4. All the wealthy people I know never pay the going rate for anything

They either get their stuff for free or at a high enough discount it might as well be free. They don't pay retail prices for anything. It would be beneath them to do so.

Don

[Nye Bevan]

8. How does that work?

They show their brokerage statements at the supermarket and get free cereal if they are worth more than $50 million?

:shrug:

[NNN0LHI]

9. I can give you one example

One day I happened to be in the front offices of the automobile stamping plant I worked at and spotted my personal physician wandering around like he was lost. I said hey Doc, what brings you here? He said to me that he was there to pick up his new car. I responded that we don't build new cars at this plant, we just stamp out the parts here, and he must be mistaken. He said no, and showed me a letter he had received informing him his new car had arrived, and it was signed by someone who I was familiar with. So I pointed him in the right direction and bid him ado.

Now this was before we had an employee discount for our employees that we had to negotiate for later in one of our contracts. And we still have to go through the middleman of a dealer to purchase one. He didn't.

I seen my physician not long after that and he pointed his new Lincoln out to me in the parking lot and commented he had had gotten one helluva deal. He told me how much he paid for it and I was gobsmacked.

I have seen other examples of this type of thing over the years but this one sticks out.

And I don't really think that any of the people I rub elbows with at the local grocery store have $50 million dollars either.

Don

[Zorra]

5. Isn't that special.

I hear they taste like chicken.

[flor-de-jasmim]

6. Is this the "we spend money, so you don't have to" proposition?