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Is it time to eat the rich yet? I’m feeling a bit peckish.
Posted: 09 July 2010 07:57 AM   [ Ignore ]
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When does it start being OK to use that phrase that is such a taboo in America - “class warfare”? When does it start being OK to hate the rich? For that matter, when does it start being OK to eat the rich? (bonus points for the clever persons who gets the reference without using Google as a crutch ...)

Biggest Mortgage Defaulters are the Rich

Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.
More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.
By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.
Though it is hard to prove, the CoreLogic data suggest that many of the well-to-do are purposely dumping their financially draining properties, just as they would any sour investment.
“The rich are different: they are more ruthless,” said Sam Khater, CoreLogic’s senior economist.

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Posted: 09 July 2010 10:36 AM   [ Ignore ]   [ # 1 ]
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Why am I not surprised? The rich will most likely declare bankruptcy if necessary to keep their overly large houses, or default on their vacations houses with no consequences.

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“In the beginning, God created the universe. This has made many people very angry and has been widely regarded as a bad move.”
Douglas Adams, The Restaurant at the End of the Universe

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Posted: 09 July 2010 02:26 PM   [ Ignore ]   [ # 2 ]
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steveg144 - 09 July 2010 07:57 AM

<snip> when does it start being OK to eat the rich? (bonus points for the clever persons who gets the reference without using Google as a crutch ...)

I want to say it’s from a Nazareth song… (And no, I’ve not unleashed my Google-Fu!)

It’s been said that money can’t buy you happiness. I’d sure like the opportunity to prove them right. smile

Take care,

Derek

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“It is noble to be good; it is still nobler to teach others to be good—and less trouble.”—Mark Twain

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Posted: 09 July 2010 03:01 PM   [ Ignore ]   [ # 3 ]
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Eat The Rich is a song by Aerosmith.  And no, I didn’t look that up.  I have an album with it on it.

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“In the end nature is horrific and teaches us nothing.” -Mutual of Omicron

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Posted: 09 July 2010 03:07 PM   [ Ignore ]   [ # 4 ]
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The one I remembered was from Motorhead. (And I had to use Google. tongue laugh)

Take care,

Derek

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“It is noble to be good; it is still nobler to teach others to be good—and less trouble.”—Mark Twain

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Posted: 09 July 2010 03:09 PM   [ Ignore ]   [ # 5 ]
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I’ve seen it on bumper stickers. Aside from that Steve, thank you for this most relevant post. You rock!

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Row row row your boat gently down the stream.  Merrily Merrily merrily merrily life is but a dream!

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Posted: 09 July 2010 03:22 PM   [ Ignore ]   [ # 6 ]
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Motorhead rocks.

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“In the end nature is horrific and teaches us nothing.” -Mutual of Omicron

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Posted: 09 July 2010 05:42 PM   [ Ignore ]   [ # 7 ]
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Is it derived from “Let them eat cake”?

The non-rich are paying mortgages on the roof over their heads.  Why should a rich person pay a mortgage on a place that they don’t need to live in and is no longer worth the original price?  If anything we should ask why the rich were dumb enough to buy over priced property in the first place?

I am more interested in lynching economists.

They haven’t been emphasizing the planned obsolescence of cars and reporting the depreciation of that junk and suggesting that accounting be mandatory in the schools for the last 40 years.

psik

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Posted: 09 July 2010 05:59 PM   [ Ignore ]   [ # 8 ]
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Unfortunately, we have become a plutocracy - the government is owned by the rich, so it’s probably too late to do anything about it.  However, I’d like to see a progressive income tax with a top tax, say, 90% on income over $500,000, deductions and exemptions not to exceed, say, $300,000, and a progressive estate tax at about the same rate as income tax, and a similar set of taxes and restrictions on corporations.

Occam

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Posted: 09 July 2010 06:06 PM   [ Ignore ]   [ # 9 ]
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Planned obsolescence is only a winning strategy in monopolistic/oligopolistic situations. Under competition and with consumer demand for quality goods, planned obsolescence quickly becomes a losing strategy.

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“What people do is they confuse cynicism with skepticism. Cynicism is ‘you can’t change anything, everything sucks, there’s no point to anything.’ Skepticism is, ‘well, I’m not so sure.’” -Bill Nye

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Posted: 09 July 2010 06:25 PM   [ Ignore ]   [ # 10 ]
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I don’t know.  Value engineering has become a hot field in the last fifty years.  Ostensibly, the goal is that no componens has excess value beyond the life of the unit.  Ideally, an automobile would collapse and fall apart all at one time.  It makes sense except that the second step is to decide when that decreptiation is to occur, and that’s planned obsolescence.  Most large companies have a value engineering department now.  So, if they all do it, they don’t lose.

Occam

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Posted: 09 July 2010 06:27 PM   [ Ignore ]   [ # 11 ]
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So, if they all do it, they don’t lose.

You’re right.  The ones who lose are the rest of us.

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“In the end nature is horrific and teaches us nothing.” -Mutual of Omicron

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Posted: 10 July 2010 09:09 AM   [ Ignore ]   [ # 12 ]
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Occam - 09 July 2010 06:25 PM

I don’t know.  Value engineering has become a hot field in the last fifty years.  Ostensibly, the goal is that no componens has excess value beyond the life of the unit.  Ideally, an automobile would collapse and fall apart all at one time.  It makes sense except that the second step is to decide when that decreptiation is to occur, and that’s planned obsolescence.  Most large companies have a value engineering department now.  So, if they all do it, they don’t lose.

Occam

http://www.readbookonline.net/readOnLine/1157/

LOL    LOL    LOL   

psik

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Posted: 10 July 2010 04:09 PM   [ Ignore ]   [ # 13 ]
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steveg144 - 09 July 2010 07:57 AM

(bonus points for the clever persons who gets the reference without using Google as a crutch ...)

Jonathan Swift: “A Modest Proposal.”

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Posted: 10 July 2010 05:11 PM   [ Ignore ]   [ # 14 ]
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Wait a second…

If rich people are a problem, and becoming rich is the measure of success in a capitolism, then the problem is people who succeed.

Or capitolism…

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My superiority complex is better than yours.

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Posted: 10 July 2010 05:47 PM   [ Ignore ]   [ # 15 ]
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Pragmatic Naturalist - 10 July 2010 04:09 PM
steveg144 - 09 July 2010 07:57 AM

(bonus points for the clever persons who gets the reference without using Google as a crutch ...)

Jonathan Swift: “A Modest Proposal.”

One of my favorite essays!

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Church; where sheep congregate to worship a zombie on a stick that turns into a cracker on Sundays…

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