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10-18-2006, 05:54 PM
| #71 (permalink) |
| Connoisseur   Join Date: Sep 2005
Posts: 5,590
My Mood:  Thanks: 1,063
Thanked 881 Times in 538 Posts
  | Re: "Rich are getting richer, poor are getting poorer"??? Don't apologize Mike -- I was getting off the topic again -- so it was a helpful and polite reminder  |
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10-19-2006, 06:10 AM
| #72 (permalink) |
| Devotee  Join Date: Sep 2005
Posts: 3,898
Thanks: 256
Thanked 154 Times in 116 Posts
| Re: "Rich are getting richer, poor are getting poorer"??? OK, back on topic, what that article failed to articulate was savings and debt. The middle might make more money, but they have a smaller slice of a (quite) bigger pie, and that piece comes with marshlands of debt. Also, the idea of ostentatios vulgar display of wealth is not new and/or american. |
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10-20-2006, 03:25 AM
| #73 (permalink) |
| Fanatic  Join Date: Oct 2005
Posts: 1,858
Thanks: 233
Thanked 203 Times in 128 Posts
| Re: "Rich are getting richer, poor are getting poorer"??? Quick footnote - A problem Germany has with their economy is that folks just save too much! Debt isn't necessarily a bad thing - and I won't say any more least I exceed my qualifications as an armchair economist. |
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10-20-2006, 03:32 AM
| #74 (permalink) |
| Connoisseur Join Date: Sep 2005
Posts: 5,590
My Mood: Thanks: 1,063
Thanked 881 Times in 538 Posts
| Re: "Rich are getting richer, poor are getting poorer"??? Just on the subject of finance: has Wesley Snipes been arrested yet? ...last I heard, he owes millions of dollars in taxes and is hiding from the IRS. |
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10-20-2006, 07:58 AM
| #75 (permalink) | |
| Devotee Join Date: Sep 2005
Posts: 3,898
Thanks: 256
Thanked 154 Times in 116 Posts
| Re: "Rich are getting richer, poor are getting poorer"??? Quote:
Yep, that's a problem too. Neither debt or too much savings are good. | |
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10-27-2006, 12:28 PM
| #76 (permalink) |
| Inactive Account  Join Date: Oct 2005
Posts: 825
My Mood:  Thanks: 57
Thanked 60 Times in 54 Posts
| Re: "Rich are getting richer, poor are getting poorer"??? The rich are getting filthy rich again. Investment bank Goldman Sachs paid $2.58 billion US for a stake in Chinese bank ICBC in April. Today ICBC went public. Goldman's shares are worth $7.48 billion. That's nearly a $5 billion gain for six months work! Not too long ago, Goldman made a $3.7 billion gain from a stake in Japanese bank Sumitomo Mitsui. They paid about $1.3 billion for it. Goldman has 287 partners globally and they're likely paid an average of 5 million pounds according to one article. However, they can invest in Goldman's principal/proprietary transactions like ICBC. In the world of high finance, a game available only to the rich, the rich keep getting richer. Last edited by 450SEL6.9; 10-27-2006 at 12:37 PM.. |
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