Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (306827)	5/25/2009 7:41:47 PM
From: mph	5 Recommendations Read Replies (1) \| Respond to of 793738

Don't forget that many of the self-styled elites are also ignoramuses about the economy. I'm convinced that many don't realize how bad it will get. The very rich even think they can beat it and still have their la la lifestyle. Just wait until the One starts cracking down on travel and the size of homes due to GW concerns. Once you let O's nose under the tent, no one is safe. Let's just hope they wake up sooner than later....

To: Bearcatbob who wrote (306827)	5/25/2009 9:09:02 PM
From: Alan Smithee	2 Recommendations Read Replies (1) \| Respond to of 793738

I think most of them are completely ignorant when it comes to economics. They simply think wealth is there to be harvested and that it will always be there to harvest. We have a nation of economic illiterates. I am experiencing that first hand. Aside from me, my entire family is Democrat. We are in the process of probating my mother's estate. My family and the property is in Michigan. I live in the Inland Northwest. We have decided we need to sell the family home. The realtor (a top realtor in the area) came in with a valuation of the property that shocked even me. My brothers and sisters, however, are dumbfounded. They are convinced the realtor "doesn't understand the property," which is an old farm house. Unique property, but noting overly special or historic. They have no concept of economics or how a market is made. They don't understand supply and demand. Seem to think this house has some special, intrinsic value to someone who will be willing to pay a premium for it. Problem is, very, very few people are buying houses these days in SE Michigan. Not gonna happen. The market is what it is, and it's influenced by the state economy and a surplus of foreclosure homes on the market. If they had even moderate schooling in economic theory they'd get it, but they don't. Oh, have I mentioned they are all knee-jerk democrats who voted for Obama?

To: Bearcatbob who wrote (306827)	5/25/2009 11:00:29 PM
From: Neeka	1 Recommendation Read Replies (1) \| Respond to of 793738

I know a couple of those 2% ers. It was their fervent desire that he be elected. They spent time going door to door campaigning. They worked directly with his campaign in Chicago. They gave generously to his campaign. They even has a life sized cardboard cut out of him in their dining nook. I haven't seen them in awhile and probably won't see them for awhile longer. It will be interesting to hear their reaction when they find out they're going to be heavily taxed. Although I think rich people have investment vehicles that shelters their money from govt confiscation, but I don't know what they are since I'm not rich. I'm just one of those middle class working people who will really be taking it on the chin when the piper calls. Anyone want to take bets on when Congress ups the age for collecting SS?