tag:blogger.com,1999:blog-4912713243046142041.post2324607504620245749..comments2024-03-28T19:45:08.560-05:00Comments on TYWKIWDBI ("Tai-Wiki-Widbee"): How the rich are sufferingMinnesotastanhttp://www.blogger.com/profile/01382888179579245181noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-4912713243046142041.post-12927290180109633832010-07-23T19:41:14.701-05:002010-07-23T19:41:14.701-05:00@Jack @Doc I get it. You would rather the money be...@Jack @Doc I get it. You would rather the money be spent otherwise. What you don't get is that this money is NOT in circulation otherwise. This is wealth created which is distributed. Its not as if the maid and the yacht builder would somehow have more money if these people didn't exist. Its a nice fantasy to think that we are all getting a piece of a set pie and if only we could reduce the wealth of the super wealthy that we would all have more. It is sadly not the case.A. Fischerhttps://www.blogger.com/profile/11234470633973888456noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-58330761839856382332010-07-21T12:05:10.584-05:002010-07-21T12:05:10.584-05:00Tripling your money in 15 years isn't necessar...Tripling your money in 15 years isn't necessarily impressive (the return on investment doesn't take into account inflation), but for the investment, they got to live in a tony section of New York and write off the interest on the mortgage and property taxes (although people in this class probably don't have mortgages).<br /><br />Even if they paid cash, they got to live virtually rent free (outside of property taxes) for 15 years and ended up with 10M. Not too shabby.<br /><br />Regarding the trickle down economics, just imagine how much that 10M could do if it were invested in green energy or high speed rail - it could help create manufacturing and construction jobs that pay a hell of a lot more than menial service jobs at minimum wage.Jack of All Tiradeshttps://www.blogger.com/profile/00793541460471870149noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-64139314251795362162010-07-21T11:54:04.619-05:002010-07-21T11:54:04.619-05:00Boo hoo! The money was squeezed out of the house c...Boo hoo! The money was squeezed out of the house cleaner and millions of others in the first place and should have been in circulation all along! Wah wah!?Doc Rockhttps://www.blogger.com/profile/07493409113882770314noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-83826045622181059382010-07-21T09:08:41.898-05:002010-07-21T09:08:41.898-05:00They only triple their money if it sells at the ne...They only triple their money if it sells at the new price.Petenoreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-4460572677343318302010-07-21T07:05:00.943-05:002010-07-21T07:05:00.943-05:00So I don't feel personally bad for the folks i...So I don't feel personally bad for the folks in question because they can probably handle the hit. That being said thats a lot of wealth that is no longer there (or never was there). That means that owners of this type of townhouse are going to hold back on investments and spending. When you have millions you have millions to spend and spending millions puts a lot of cash in the pockets of the less than millionaires. <br /><br />When these guys fire their housecleaner, don't buy that new car, and stop lavish vacations in Hawaii then there is a NYC housecleaner, an autoworker in ALabama, and the hotel staff of a Hawaii resort who all take the hit.<br /><br />Success does flow downward on the socioeconomic scale but so does failure.A. Fischerhttps://www.blogger.com/profile/11234470633973888456noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-37217474236632644422010-07-21T01:19:00.876-05:002010-07-21T01:19:00.876-05:00Actually, tripling your money over 15 years is rea...Actually, tripling your money over 15 years is really not that impressive, as that really is nothing more than a 8% growth per year over 15 years.Timnoreply@blogger.com