What Are Rich People Thinking?

« Return to Article

Discuss

Member Comments

  • Posted By: Jack 8590 @ 11/11/2008 5:40:34 PM

    Whatever our peoblems are - we want to blame someone else. I just got laid off. Don;t know where my next job is coming from - in this market it could take a year. My son starts college next fall...or so he thinks. You know what - it's my problem. Not the dems.....not the neocons. I have to figure it out by myself.

    I voted for Obama and I am an loyal Democrat. If I try to blame this on anyone, I am foolish and wasting my time. I would be better served getting on with my job search and finding gainful employment out there where ever it may be.

    Actually, the last time I was laid off was dueing the end of GHW Bush administration - ironic. But it is not either of the President Bushes fault that I was (and am) unemployed.

    Geeze people stop looking to blame someone and start making a difference!

  • Posted By: dor-republican @ 11/11/2008 4:19:33 PM

    We cant blame the republicans for the economy when the problems are from sub prime morgages lets blame the mathmatically challenged who purchased them and couldnt afford them. also it was clinton admin
    who made these loans open to low income in th 90"s. democrats were the ones who made this mess possible. and yet the new agenda is still give away more more more.

    • Posted By: Jack 8590 @ 11/11/2008 5:35:05 PM

      Some mortgage banker did the math and decided that the borrower was credit worthy. Stop blaming the poor.

      And alot of this was caused by people, contractors, and speculators trying to "flip" the real estate. Stop blaming the poor people.

      Granted, democrats pushed fannie mae and freddie mac to give more mortgages; essentially accusing them of racism if they didn't. I saw it on cspan, and I've seen it on youtube.

      But the last nail in the coffin is wall street. Essentially, the subprime mortgages are a $1 trillion market. Wall street arbitraged this into a $67 trillion market. Then the bottome fell out. You can;t blame Stanley O'Neal's wreckless behavior at Merril Lynch on the poor people either.

      Basically, if (A very BIG if) the entire subprime market had fallen, a $1 trillion hit to our economy would have caused a bit of a ripple. It's all the financial derivitives that have wrecked havoc - and that isn;t the fault of poor peeple.

    • Posted By: bluetothebone @ 11/11/2008 5:17:57 PM

      You need to get your facts straight. It's easy to blame the democrats and the poor for this mess, but the facts just don't support it. Low-income home-buyers have among the highest rates of mortgage repayment in the country. It's the mid- to high-income home buyers who are defaulting on their mortgages (and investment properties) in record numbers. These are the people who's eyes got WAY bigger than their wallets and decided that a 2,000 square foot house wasn't good enough and mortgaged to the hilt to buy a 4,000 square foot house. This has nothing to do with the loan programs instituted by the Clinton administration. And while you're ranting about how we democrats just want "more, more, more" why don't you look at the fact that it's the Republicans more than anything who are pushing for these free handouts to HUGE companies to bail them out of the mess that THEIR deregulation permitted. If you look back a month when the deal was being made for the bailout you'll see that it was the democrats who had to step in and severely curtail the golden parachutes and bonuses that were going to be paid. If not for the democrats those Wall Street fat cats (who failed so miserably at their job) would have walked away with millions more of tax payer money.

      I'm so sick of Republicans repeating their tired old party line that the democrats just want to tax and spend and give money to the poor. It's completely false. If you look at the past 16 years through the Clinton and Bush administrations, the Republicans have spent way more than the Democrats and the Republicans -- although they certainly can't be accused of giving money to the poor -- have certainly given barrelfuls of cash to the rich and corporations. Funny how you never seem to have a problem with that. If you want your opinions to be respected then start checking your facts before you spout off and make sure that what you're saying is true.

  • Posted By: drewthaler @ 11/11/2008 5:11:53 PM

    The question the article poses is only hard to answer if you blindly assume that people's wallets are the most important thing to them. Gee - maybe it had something to do with the anti-intellectualism, or the warmongering, or the bungled international relations, or the trillion-dollar budget deficits.

    Perhaps - just perhaps - the people who make $250K+ per year are intelligent, well-traveled individuals who would like our country to survive and prosper?

  • Posted By: nwboater @ 11/11/2008 4:55:51 PM

    I am a physician in Washinton state. My wife and I stand to pay more in taxes as a result of the changes Obama proposes. This, to us, is minor compared to the damage done by Bush in the areas of the environment and the economy (all in the transparent interest of the oil industry). We also witness the burden of a healthcare system that leaves so many uncovered (my wife also works in healthcare). These are the primary reasons we voted for Obama.

    • Posted By: dor-republican @ 11/11/2008 5:07:24 PM

      Well here in New York, Everyone is covered with a government plan needed or not and the ones suffering are our physicians/dentists who cannot get paid for their treatment. this is under clintons health bill.as for the economy put the blame where the problem lies. economically challenged people should not buy BIG houses.

  • Posted By: nwboater @ 11/11/2008 5:01:59 PM

    My wife and I are clearly in the over $250K group. We voted for Obama for his stance on the environment and healthcare. Each of these areas need real, intelligent solutions. The McCain ideas don't even come close. Can't imagine continuing a war just to secure the oil industry interests. Investment in alternitive energy is essential to our future (economy, environment and national security). Obama had the right ideas about these criticla issues. We can afford to pay a bit more in taxes for a country that has a real, fair future.

  • Posted By: justconnect @ 11/11/2008 4:24:08 PM

    This discussion assumes that money/pocketbook is the most important criteria in making a decision. A cynic would say it is....but perhaps it's a good sign that people didn't use self-interest as their sole reason for choosing who to vote for.

    • Posted By: dor-republican @ 11/11/2008 4:55:06 PM

      finances are our most pressing problems. education/health/economy.all these things take money. But since you dont want this to be sole reason for electing a president dont cry when your kids cant learn,get healthcare,eat.

  • Posted By: LVUONG @ 11/11/2008 1:53:02 PM

    Because they are liberal and immoral, so they like a liberal man. There will be more abortions and immorality. I am afraid God's hands are no longer upon this nation, even when Obama claims (and is proud) to be a Christian. The Jews experienced punishments from God, but they are still the chosen people, always, and we are not.

    • Posted By: sgmorr @ 11/11/2008 4:51:24 PM

      How moral was it for GWB to mislead the country into his war of choice and occupation of Iraq under totally false premises? This has to rank up there with the most immoral things ever done in the name of the USA, doesn't it? Why are conservative righwingers so selelctive in what they view as immoral?

  • Posted By: factnerd @ 11/11/2008 4:21:12 PM

    A correction, please, Mr. Gross. Chris Shays was the last House Republican in New England. But Peter King's third district - representing mostly Nassau County on Long Island - is firmly east of the Hudson. And, if you want to get really technical, senators are also congressmen. The Republicans have three senators east of the Hudson.

  • Posted By: Iconoblaster @ 11/11/2008 4:16:30 PM

    Partisans on both sides of the artificial aisle would be more persuasive if they dumped the silly generalizations about their opponents (clue: the writer often begins with "Thats the difference between a conservative and a liberal....", followed by a claim that all virtue and reason reposes in the writer's own political camp, while the opponents are brain-dead, depraved, dishonest and/or treasonous).

    We don't all even agree about what "conservative" and "liberal" mean, and the terms truly approach the absurd when they are employed as absolute categories of opinion. Putative 'conservatives' and 'liberals' don't even agree universally within their OWN respective general groups... there are plenty of self-identified conservatives who don't advocate criminalization of abortion, and liberals who believe that the Second Amendment guarantees ordinary citizens the right to bear arms.

    Maybe if we stuck to the facts and policies at issue, with a little less partisan "rah-rah", and refused to be pigeon-holed by total identification with one party or the other (, we'd find some common ground, and some solutions to our problems.

  • Posted By: agatsu @ 11/11/2008 3:18:21 PM

    Haley16 is partly right; the article is written from a "democrat's" twisted opinion of a republican's p.o.v. That is the fundamental difference between a conservative and liberal -- a liberal believes his opinions _are_ reality.

    If timmins16 is correct, how much more droll. The economy suffers from loads of bad debt foisted on us by Fannie Mae and Freddie Mac, so let's vote the #2 recipient of donations from these corrupt quasi-government organizations to be President. Sure, that'll work.

    FATJOEY has it right....

  • Posted By: agatsu @ 11/11/2008 3:11:38 PM

    Haley16 is only partly right; the article is clearly written from a "democrat's" internal model of a republican p.o.v. That is the real difference between a conservative and a liberal -- a liberal believes his internal model _is_ reality.

  • Posted By: timmins16 @ 11/11/2008 3:09:15 PM

    Is it possible that they were in fact voting for their self interests, but in a more long term sense? i.e. people are dependent ultimately on the health of the economy overall and these people felt that since the economy appears to be heading into the septic tank, that a change in approach was needed. Sort of the trickle up effect.

  • Posted By: FATJOEY @ 11/11/2008 3:09:00 PM

    new boss,same as the old boss

  • Posted By: Haley16 @ 11/11/2008 2:56:53 PM

    The article is interesting but clearly written from a republican's p.o.v., who voted for the McCain/Palin ticket. He doesn't seem to grasp that people could possibly vote socially instead of economically. I think a lot of people saw that voting economically wasn't working out for anyone (but a select few). No one benefits while watching the rest of the country suffer. Unlike the book "Whats the Matter with Kansas?" where the middle class or poor were voting against their wallets for a social agenda and essentially ruining any economic profit they could have made or held on to, the wealthier members of Connecticut seem to feel that they can stand to lose some money to taxes for the sake of the country. Maybe in the past 4 years they realized that without a country (or at least this country's economy) they have nothing. This is still the same phenomenon of having people vote for social reasons instead of for fiscal ones that was discussed in Thomas Frank's book. What Mr. Gross fails to understand is that if people get jobs and make money they will then have money to spend and kick back into the economy, but when you take away the middle class you are left with nothing. Maybe the residents of Connecticut understand that.

    I think that is the fundamental difference between a conservative and a liberal--selfishness.

  • Posted By: Haley16 @ 11/11/2008 2:55:11 PM

    The article is interesting but clearly written from a republican's p.o.v., who voted for the McCain/Palin ticket. He doesn't seem to grasp that people could possibly vote socially instead of economically. I think a lot of people saw that voting economically wasn't working out for anyone (but a select few). No one benefits while watching the rest of the country suffer. Unlike the book "Whats the Matter with Kansas?" where the middle class or poor were voting against their wallets for a social agenda and essentially ruining any economic profit they could have made or held on to, the wealthier members of Connecticut seem to feel that they can stand to lose some money to taxes for the sake of the country. Maybe in the past 4 years they realized that without a country (or at least this country's economy) they have nothing. This is still the same phenomenon of having people vote for social reasons instead of for fiscal ones that was discussed in Thomas Frank's book. What Mr. Gross fails to understand is that if people get jobs and make money they will then have money to spend and kick back into the economy, but when you take away the middle class you are left with nothing. Maybe the residents of Connecticut understand that.

    I think that is the fundamental difference between a conservative and a liberal--selfishness.

  • Posted By: marley07 @ 11/11/2008 2:32:47 PM

    "Intellectuals"
    Thomas Sowell
    Tuesday, November 11, 2008

    Among the many wonders to be expected from an Obama administration, if Nicholas D. Kristof of the New York Times is to be believed, is ending "the anti-intellectualism that has long been a strain in American life."

    He cited Adlai Stevenson, the suave and debonair governor of Illinois, who twice ran for president against Eisenhower in the 1950s, as an example of an intellectual in politics.

    Intellectuals, according to Mr. Kristof, are people who are "interested in ideas and comfortable with complexity," people who "read the classics."

    It is hard to know whether to laugh or cry.

    Adlai Stevenson was certainly regarded as an intellectual by intellectuals in the 1950s. But, half a century later, facts paint a very different picture.

    Historian Michael Beschloss, among others, has noted that Stevenson "could go quite happily for months or years without picking up a book." But Stevenson had the airs of an intellectual -- the form, rather than the substance.

    What is more telling, form was enough to impress the intellectuals, not only then but even now, years after the facts have been revealed, though apparently not to Mr. Kristof.

    That is one of many reasons why intellectuals are not taken as seriously by others as they take themselves.

    As for reading the classics, President Harry Truman, whom no one thought of as an intellectual, was a voracious reader of heavyweight stuff like Thucydides and read Cicero in the original Latin. When Chief Justice Carl Vinson quoted in Latin, Truman was able to correct him.

    Yet intellectuals tended to think of the unpretentious and plain-spoken Truman as little more than a country bumpkin.

    Similarly, no one ever thought of President Calvin Coolidge as an intellectual. Yet Coolidge also read the classics in the White House. He read both Latin and Greek, and read Dante in the original Italian, since he spoke several languages. It was said that the taciturn Coolidge could be silent in five different languages.

  • Posted By: marley07 @ 11/11/2008 2:32:33 PM

    The intellectual levels of politicians are just one of the many things that intellectuals have grossly misjudged for years on end.

    During the 1930s, some of the leading intellectuals in America condemned our economic system and pointed to the centrally planned Soviet economy as a model-- all this at a time when literally millions of people were starving to death in the Soviet Union, from a famine in a country with some of the richest farmland in Europe and historically a large exporter of food.

    New York Times Moscow correspondent Walter Duranty won a Pulitzer Prize for telling the intelligentsia what they wanted to hear-- that claims of starvation in the Ukraine were false.

    After British journalist Malcolm Muggeridge reported from the Ukraine on the massive deaths from starvation there, he was ostracized after returning to England and unable to find a job.

    More than half a century later, when the archives of the Soviet Union were finally opened up under Mikhail Gorbachev, it turned out that about six million people had died in that famine-- about the same number as the people killed in Hitler's Holocaust.

    In the 1930s, it was the intellectuals who pooh-poohed the dangers from the rise of Hitler and urged Western disarmament.

    It would be no feat to fill a big book with all the things on which intellectuals were grossly mistaken, just in the 20th century-- far more so than ordinary people.

    History fully vindicates the late William F. Buckley's view that he would rather be ruled by people represented by the first 100 names in the Boston phone book than by the faculty of Harvard.

    How have intellectuals managed to be so wrong, so often? By thinking that because they are knowledgeable-- or even expert-- within some narrow band out of the vast spectrum of human concerns, that makes them wise guides to the masses and to the rulers of the nation.

    But the ignorance of Ph.D.s is still ignorance and high-IQ groupthink is still groupthink, which is the antithesis of real thinking.



    Copyright © 2008 Salem Web Network. All Rights Reserved.



  • Posted By: marley07 @ 11/11/2008 2:09:57 PM

    I would be careful assuming education and intelligence will equal the right decisions. Intelligence and education can create wrong decisions as well. They can be used incorrectly as easily as being used for the right reasons.

  • Posted By: marley07 @ 11/11/2008 2:01:24 PM

    http://seekingalpha.com/article/105385-obama-s-half-baked-green-obsession

  • Posted By: NotSoBigMac @ 11/11/2008 1:44:44 PM

    The well-educated understand that investing in education costs money - and without investing in education America stands to lose its edge. Elementary! Furthermore, if you can use a calculator, it doesn't take long to figure out what trillions of interest-bearing loans cost.

Reply

Report Abuse

Enter comments if any for reporting abuse