The creative minds that explained quantitative easing to millions with talking bears are back, this time explaining how the rich get richer.
The talking bears aren’t alone this time, but are joined by cartoon figures of Bernanke & Buffett discussing exactly why such a disparity exists between such elite as themselves and the rest of the poor Americans, and WHO EXACTLY BENEFITS FROM QE∞.
MUST WATCH!!
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I want to move to Computer Bear Land.
Oh Man that was great! Now I feel like making a 3-D Bernanke animation of my own. Damn so little time. But honestly this was awesome! I love all the hand gestures Bernanke and Buffett were doing in the background. Very Funny!
It was great – but my favorite Bernanke animation is still “Kick the Bernanke”.
These bears are the best!!
^ I’m with stupid.
i remember a time when people went to work, earned a paycheck, put some of their savings in a bank & earned interest on that savings & became rich; they had enough, & even managed to leave inheritances to the next generation !
My grand parents raised 4 kids on an 80 acre farm, retired off the farm to town at 70 with enough money to leave my Dad and uncles a decent inheritance including 80 acres of prime MN farmland. Now the small family farm is basically extinct and the large corporate farms leave workers living paycheck to paycheck. In 2 generations things have totally crashed.
Funny? Yeah, sure. But also a GROSS simplification. Here’s how a lot of the people I know made their money. 1st, they all had solid professional careers and worked their butts off. Non-professionals can do well too, as long as they are willing to work hard. 2nd, they invested in the American economy via their 401K or other retirement plans. 3rd, they delayed their financial gratification until they could actually afford the things that the wanted. 4th, they lived below their incomes and saved the rest. And you know what? 35-40 YEARS of this passed and one day they woke up moderately wealthy. They were able to retire early and live well. Yes, it is unfortunate that so many people don’t do this. Some of them simply can’t and my heart goes out to them but for the most part it is more a matter of won’t than can’t. Basically, it is a matter of making GOOD choices in our financial lives, rather than poor ones… so don’t be among those who “chose poorly”.
I worked hard for 27 years, had my 401k wiped out twice by market crashes, what saving I had left went to massive medical bills when I couldn’t find insurance after I got hurt at work and they fired me after the 3 month FMLA leave was over. I had just had shoulder surgery the end of the 3 month time period and couldn’t return to work. My long term disability company arbitrarily declared I could return to work with my arm in a sling when I did jobs that required heavy lifting. My back was also giving out and I finally gave in and applied for SSDI so I could at least get medical coverage. Yeah working hard gets you wealthy… maybe if you start out with a silver spoon in your mouth.
I’m siding with Ed_B on this. My wife’s and my parents were far from the “silver spoon” category. I didn’t finish college yet through hard work I have worked myself into a professional position and through living simply and saving (following Ed’s prescription) we are doing well. This is not to brag, but to show that it can be done.
“Yeah working hard gets you wealthy… maybe if you start out with a silver spoon in your mouth.”
LOL! Yeah, I WISH! My Dad was a US Army soldier and then a state employee. My Mom was a waitress and then a dental assistant, and finally a secretary. Not exactly silver spoon country, Mary.
I am not discounting the fact that some people are luckier than others. Luck DOES play a role in life but for the most part it is effort that creates wealth… unless one is a Kennedy or from some other trust fund endowing family. I can assure you that this is not the case for me. Yes, I also have had some nasty health problems, two of which have been significant problems for my entire life and continue to be, but have come through them for the most part.
“This is not to brag, but to show that it can be done.”
Exactly, Precmetals. I hope that my comments were not seen as bragging as that is not my style. I was trying to give those who are not doing as well as they would like some encouragement and the outline of a plan for improving their situation. I don’t have to go far from home to find people who could really use this advice. I have a couple of family members who could use it but they won’t. Not can’t, won’t. :-/
It sucks that you have to pay for medical bills. Here in Canada, healthcare is free so you don’t need to worry about paying medical bills. I’m glad that I did a good financial choice at young age since most of the people of my age don’t even know almost anything about finances.
WOW
This thread scares me!
If we fowowed ED B’s thinking it’s only our bad choices that are too blame!
Shame on you
We are all happy your life turned out for you – ya little hard worker bee – Just like the American dream!
Somehow I don’t believe those denied the education you speak of or even the luck would agree
Take heart Mary B
There are those of us like yourself wihtout the means or education or even dumb luck to be able to get ahead
We live paycheck to paycheck and sit back and watch those with wealth accumulate more and more all the while dangling a carrot that YES YOU TOO CAN HAVE IT ALL
WE DON’T WANT IT ALL!
jUST A FAIR SHAKE!
PEOPLE SHOULDN’T HAVE TO SWALLOW THIS CRAP ANYMORE!
WORK YOUR ASS OFF AND KEEP YOUR MOUTH SHUT - CAUSE WHEN YOUR USEFULLNESS IS DONE - SO ARE YOU!
What I’d said elsewhere, is apropos to restate here.
In government, banking, and monopoly industry, it is a carefully crafted deflective illusion that ‘bad guys’ should be the focus of our thinking. The one element, however, that ought to consume our rapt concentration is … ‘The System’ … because, whether we’re convinced the ‘leaders’ in any or all of these institutions are ‘good’ or ‘bad’, it is ‘The System’ that effects the plunder of our Labor, merely for the sake of their self-aggrandizement and lavish decadence.
Credit-’money’ is that ‘System’. In the environment of metallic money, ALL must PRODUCE to EARN. Those who only care to earn what they need are left to do so. Others who aspire to luxury, are not circumvented by ‘claim-ticket barons’ demanding ‘rent’ on the trading media.
Yes, there ARE ‘bad guys’ (an endless ROTATION of them), but they’re not bad because they manipulate credit-’money’. It’s the credit-’money’ itself that PERPETUATES and NURTURES their proclivities!
To ‘borrow’ a phrase … ‘It’s The System, stupid; it’s The System!’
“To ‘borrow’ a phrase … ‘It’s The System, stupid; it’s The System!’”
Perhaps to rephrase, “It’s the stupid system and those who support it!”.
All I know is that the rich get richer while the others get more poor because the rich are stealing the purchasing powers of the others while they don’t notice by creating more dollars. Then, they use these dollars to buy precious metals and then they repeat the process.