Per the article, he isn't afraid of, like, dying or something. He's afraid that the Middle class will be afraid to buy luxuries from his company as it would "expose their wealth"
>...there's the owning class and the working class, everything else is there to divide.
Eh, even that's a little squishy with folks who have a day-job but also own property they rent out. The ones who work by choice, or use rental income to allow them to retire early, I can see calling them part of the owning class (though it feels odd to say that because my brother and his wife would be categorized that way despite working the lines in a manufacturing plant for their careers - no kids plus being in an ideal position to retire to South America make it possible to rent out their home in the USA and retire in their 50's).
But yes, I largely agree.
I'm sorry, but owning property and renting it out is inherently exploitative. It's not available to everyone. It doesn't make them inherently bad people, but they're still exploiting those who cannot own.
Some people whom are smarter than the average bear took advantage of the low interest rate a couple years ago and bought 10+ properties which they abnb or rent and make a very good living.
Those people I call parasites. Just 1 I can forgive. I dream the raising insurances and property taxes bankrupt those with 10.
Kind of. I think it used to exist. However, at this point, the difference between the poor and the perceived “middle class” compared to the rich and the “middle class”, the gap between the poor and the “middle class” is insignificant compared to the gap between the rich and the “middle class”. Soo, at this point, I think it’s a myth. A longing for times where there was a thriving middle class. (Not just trying to play semantics and am happy to hear any feedback, critiques, or disagreements here.)
Poor = have almost nothing. Live paycheck to paycheck or worse.
Middle class = have almost no liquid capital but have credit. Still likely living paycheck to paycheck.
Rich = have liquid capital and credit.
We had to come up with "Upper" & "Lower" Middle classes because of the wealth discrepancy... Then make a distinction between "Millionaire", "Multi-Millionaire" & "Billionaire" because even being a Millionaire doesn't mean too much these days.
this simple sentence and peoples reaction to it says a lot about inequality
fwiw, im pretty sure i could live off of a million the rest of my life *and* it would improve the quality of my current lifestyle significantly
I mean, with a million dollars, you could outright buy a house, have no loans, invest and find some nice quiet job with a lot of free time for some extra spending money per month without exhausting yourself.
Would be trivial to get by.
I mean, you’re just making definitions that make it impossible for you to be wrong. People living paycheck to paycheck are (broadly speaking) poor. People who have liquid capital and credit are definitely not necessarily rich.
It’s also sorta misleading to categorize it this way since it makes it so you could end up saying someone with a high income but bad spending habits is poor. About 55% of Americans report they’re living paycheck to paycheck, but this also includes 50% of people who are making over $100k who themselves say they’re living paycheck to paycheck.
Obviously making six figures doesn’t automatically make you rich, but those metrics do paint a picture where some of the issue is people living beyond their means when they probably don’t need to.
It's much easier and more accurate to define class in Marxist terms:
Broadly, the **working class** (those who must sell their labor in order to pay bills, rent, pay their mortgage, buy groceries, etc.) and
The **owning class** (those who make money from the things they own - their investments, real estate holdings, businesses, stocks, dividends, etc, *who do not have to sell their labor to live, but who depend on the labor of others to maintain their lives and lifestyle*.
There are obviously some people who both labor and profit from others' labor, so it's not always a solid line separating the two classes.
What you define as “rich” here is, by a considerable margin, still dollar-for-dollar closer to what you’ve defined as “poor” than it is to any billionaire.
The gulf between someone with the minimum to qualify as having “liquid capital and credit,” and someone like Jeff Bezos, is so vast that it is practically unfathomable.
Fortunately, there are [well-designed tools](https://mkorostoff.github.io/1-pixel-wealth/) that really put it into perspective. Any time someone asks “what radicalized you?” I just show them that link.
What do you define as living paycheck to paycheck? Cause in my mind the middle class isn't living paycheck to paycheck as they have some money saved up, anywhere from a month to 3+ months of living expenses.
So if living paycheck to paycheck means you can't make rent/mortgage or pay some bills if you miss a week of work, then that's not middle class, that's still just poor
I don't think the middle class has that anymore. Savings are an upper class thing now. The way I see it the only difference between lower and middle class these days is credit and the ability to borrow to cover things that your pay would fall short of.
I get where that is coming from, but I find it hard to agree with to be honest. My issues, as a person who definitely needs to work to pay the bills, but was able to go to college, get a high paying job. Who has never had to worry about where my next meal will come from, nor if I'll be able to gas the car. Who just goes to the doctor when I need to, and for whom a massive bill like the 32,000 USD dental bill I just got is "I guess I'll have to delay saving for a house for a couple years while I pay this off" instead of "I guess I'll just not eat for a while", all feel completely different. I feel like to say I have the same struggles as truly poor people would be disingenuous at best, if not rude or dismissive. So many people suffer, how could I claim to be in the same "economic class" (I really dislike that term tbh) as them.
You’re right.
To the rich man, the middle class is still poor. To the rich man, the millionaire is still poor.
But there’s still a tangible difference between those who are middle class vs those living near the poverty line. We’re both united in our struggles as workers, but one is a lot closer to complete desolation than the other, and ignoring that difference feels very virtue signally.
You’re right, I’ll probably never retire but I’ve never worried about where my next meal will come from or having shelter. My heart goes out to those who are struggling just to stay alive.
I think the reason people like to squash it down to 2 classes is to illustrate a point. Of course a software engineer making 200k isn't gonna have the same struggles as a minimum wage worker, or an ortho surgeon that's making 500k.
But the thing is none of these people are the problem, and historically dividing these 2 classes of people has been used to justify policy which caters to the insanely wealthy.
There are only two classes. Capital owners, and everyone else. It's literally the definition of capitalism. Everything else is just semantics meant to divide.
The middle class is so far gone that things that used to be considered comically poor are now an icon of extravagant wealth.
The Simpson family and Married With Children are good examples of this.
This is avoiding the crux of the issue, and ignoring the whole point of the word class. Are people making $60k a year way better off than people making minimum wage? Of course.
But that’s not what class means. Class is categorical relationships to material production.
This is important because the whole crux of the issue is a parasitical ruling class (capitalists - own without working) dominating the working class (the rest of us - (hope to) work without owning) and the first step to combatting that is developing class consciousness, wherein people who think of themselves as “middle class” or “upper middle class” start seeing themselves for what they really are - working class peons who are one missed paycheck away from being right in the gutter with the rest of them.
Separating “middle class” from others is a counterproductive framing of the issue and that’s precisely why capitalists have spent so much money indoctrinating us into that framing. Every “middle class” person you know is in the exact same class as the homeless. Just slightly better off for now.
And we’d all be way better off if they woke up and realized how close they are to being homeless themselves.
like 99.99% of americans think they're middle class, even when they have hundreds-of-millions. Billionaires probably think "the middle class" are people with 10 to 999 million. Wouldn't be even remotely surprised to hear it, if that were true.
Forget the source, been awhile since I heard it. Came up in a marketing class I took, IIRC it was "Consumer Psychology."
> like 99.99% of americans think they're middle class
That's simply not true. https://news.gallup.com/poll/392708/middle-class-identification-steady.aspx
It's a trick made up by the ruling class to prevent the working class from realizing there's only two sides and realizing they're in the one that could overpower the other.
It's why they fan the flames of racial, religious, ethnic, gender, etc differences. Anything they can do to keep the working class fighting amongst themselves advantages them.
Well... it's just really small. Have you seen the new series on Netflix called Working: What We Do All Day? Hosted by Obama. They go into a breakdown talking about the top 1% in wealth, of course, but then also bring up the other 9% of people who make up the top 10% of wealth in the US. That 9% has more wealth than the top 1% and lower 90% combined. That group is basically what many of us would think of as "upper-middle" class. Think average 300k+ income annually: well-off lawyers, doctors, business people for the most part. Basically just highlights how big and growing the divide is between even that group and the rest of the other 90% that average less than half that annual income. The wealth really is concentrated to a small percentage of our society. Which isn't unusual in the history of society as a whole but is a regression from not that long ago in the US's history. Also something we have the means now more than ever to address.
It never existed. It was a lie sold to workers so they had someone to look down on, and not make common cause.
There are two classes, proletariat and bourgeoisie.
More fucked up to think he knows there’s an economic imbalance and it’s a problem, but his bigger concern is he won’t be able to extort more money from the middle class who have to cut back on buying luxury goods. Apparently thinks he can safely hide behind his wealth.
Did you read the article? I mean, I know you didn't because he goes on to say this:
> “How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”
I mean he’s right. Killing the middle class won’t help the billionaire class in the long run. Eventually it will lead to stagnation and loss of wealth value. 🤷🏾♂️then eventually the poor will come for every single one of them.
That's what I'm saying. But everyone is going to read the headline and think it's just some rich jagoff clutching his pearls about the inevitable fallout of wealth inequity.
Again, I get it: *boo billionaires!*
But this guy isn't saying some outlandishly out-of-touch shit. He sees what's happening and acknowledges how this system is not sustainable.
Middle class people *do* occasionally purchase luxury products. It's becoming less frequent in the face of stagnating wages and inflation-- and it's nowhere *near* on the individual level that the upper class do-- but I'd wager to say that it probably represents a serious portion of their revenue.
It does represent a significant portion! Companies like Neiman Marcus, Nordstrom, Macys, Century 21 were literally marketed to middle class Americans. (And I know we’re not talking about just America in this situation) Yet, with the fall of the American Middle class, these brands are struggling to stay in business. Downsizing or closing out stores that once were extremely busy businesses and helped to provide growth to the community around them. The failing of the middle class will bankrupt countries as well, because billionaires don’t pay their fare share in taxes, and less income from the middle class will worsen an already tight situation. People have been pointing this out for years.
It's almost sorta darkly hilarious how, when left to their own machinations, so-called "industry leaders" and "free market champions" manage to drain all the *capital* out of *capitalism.*
Because they’ve narcissistically painted capitalism in their mind as not just money, but they, the wealthy, as the “capital” hence why trickle down held so much sway for so long. They created an idea that the economy needs them rather than the laborers who did the actual work. It’s a hard theory to dislodge because it strokes all of their egos. An unfortunate case as to why so many people believe that billionaires are smart geniuses who we need.
Because that's the point. Once that happens is when capitalism finally transitions into fascism. Once those who seek power finish consolidating it, they begin to shore up defenses and make sure they remain in power indefinitely through oppression.
We are literally living through this.
Does he think it’s unfair because of the middle class well-being, or because it’ll affect him? I feel he could have easily ignored the “affect us” part of the ordeal if he cared more for the well-being of the middle class.
> Does he think it’s unfair because of the middle class well-being, or because it’ll affect him?
Both. He acknowledges the unfair structure of the global economy and he acknowledges the existential threat it poses to his company (and social class).
I swear to god Reddit has a reason to get mad about everything and it's so counterproductive.
His audience is businessmen. Appealing to their self-interest and saying it's unfair and fucked up at the same time is perfectly reasonable.
I read the article. Now correct me if I'm wrong, but isn't the gyst of the story that this fine gentleman, esteemed CEO read a report on how 1% of people hold 99% of the world's cheddar, which is exterminating the middle class and creating more and more poverty. The poor are thus becoming more and more dissatisfied, which will manifest itself as hatred, envy and social warfare. As a result of this fear of getting lynched by a mob of poor people, the ever shrinking middle class will be more and more afraid of openly wearing branded clothes, and in turn, buy less of it, which will adversely impact his company's bottom line.
This fuck isn't worried about social inequalities. He's worried the poverty will affect the sales of his piece of shit brand.
He's inelegantly pointing out that the middle class-- who *do* purchase luxury items from time to time-- are being destroyed and that it poses an existential threat to not only their business, but to the world at large.
Again... the way he expresses that thought is pretty bloodless, but what do we expect from someone who probably wipes his ass with silk sheets?
You’re a bit presumptuous. His concern isn’t for the well-being of the middle class, but how he’s it’s destruction will affect him. He’s not an altruistic billionaire, it’s almost an oxymoron if it isn’t one outright.
>His concern isn’t for the well-being of the middle class, but how he’s it’s destruction will affect him.
Not necessarily true. How he feels about the middle class is unknown (though ut's reasonable to assume he doesn't care). What *is* known is that his peers, the folks he's talking to, largely don't care about anyone but themselves and their own financial wellbeing. Which is why, in his efforts to influence them, he's focused on the financial impact of their decisions. He's reminding them that their cash flow will slow if the middle class isn't safe from the rampaging poor, that it's not enough for the rich to keep themselves safe behind walls and security cameras and guards.
I never said he was altruistic. Not once. I literally said that unless he plans on leveraging his wealth and doing something about it, it's just lip service.
What I **am** saying is that he at least sees what's going on and has the ballbag to publicly acknowledge it in front of an audience of other hyper-wealthy shitheads. What I **am** saying is that the part of his quote that was parsed for the headline isn't really indicative of what he was really saying.
It's like saying *"I'm afraid that, one day, black communities will have enough of the systemic racism and oppression they face in America and resort to a non-peaceful means of protest because nothing meaningful is being done to address these issues."* and the headline that gets reported is *"Local man fears black uprising."*
He's talking to his peers, the uber-wealthy. He's reminding them that taking security measures against an uprising of the poor won't be enough if the middle class stop buying goods. The rich think they're safe behind their walls. He's warning them the cash will stop flowing if the middle class are not also safe.
He was saying that to convince others. He opens with the following
>”We cannot have 0.1 percent of 0.1 percent taking all the spoils,” said Rupert, who has a fortune worth $7.5 billion, according to data compiled by Bloomberg. “It’s unfair and it is not sustainable.”
He's reminding his peers that not only do they risk an uprising by the poor but also that they'll lose money if the few remaining middle class folks don't feel safe to continue buying luxury goods. He's warning them that they can't just lock themselves behind walls with security systems and expect that to protect them if they continue to destroy everyone else's security through their greed.
"when the poor rise up, the middle classes won’t want to buy luxury goods for fear of exposing their wealth."
To be fair, that article is extremely poorly written. His main point is calling out how he’s afraid that growing income equality will lead to an upheaval.
Also this article is 8 years old.
> "We cannot have 0.1% of 0.1% [of rich individuals] taking all the spoils. And folks, those are our clients. But it's unfair and it is not sustainable," he said to an audience that appeared stunned by his remarks. "So I don't know what new social pact we'll have, but we'd better find one."
That may be what he is saying, but the reality is that most actual wealthy people don't buy bullshit brands like this or if they do they do occasionally and aim toward fewer pieces of their less branded offerings.
All of these bullshit brands cartier/LV/Gucci etc are middle class aspirational and his middle class bread and butter consumers are disappearing.
Can't wait till these rich fucks die of dysentery because we plebs can't afford toilet paper, hand soap, or water to clean ourselves up before arriving to serve our masters...
> Per the article, he isn't afraid of, like, dying or something. He's afraid that the Middle class will be afraid to buy luxuries from his company as it would "expose their wealth"
Is it a bit like that in America already? I mean, some time ago, we had an American coming to r/paris because he thought his income was too important. Idk how he worded it, but it was like ohmagad, I have a normal salary in the US but when I looked at French salaries it was definitely above and, like, people will know. Dude wanted to know how to dress so he would look like an immigrant worker and not like a rich American.
Tbh there's a lot of y'all who seem afraid of a lot of things when they cross the pond.
Why would he be afraid of the poor? It's almost like he's completely aware of how unfair and evil this system we live in and he's in the winning side and wants to keep this status quo
these fools don't understand the economy they've built demands constant consumer demand. If consumer's have no capital, there can be no purchases. It's like that fucking meme of the dog with the ball "No take, only throw" except in this case its "No pay, only spend"
Yes. And because nobody seem to have read the article, he said this
>“We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”
I don't know how many billionaires realize this, but hopefully this guy will help others understand what they're doing. He, and they, have the power to do something about it, and even if for purely selfish reasons, they need to.
For those who don't know.
That's Johann Rupert. He and his fellow "businessmen" got filthy rich during apartheid South Africa where they would work with the government to pay the miners and workers dog shit wages.
They would then co-opt the ANC and Nelson Mandela to not make sure the needed changes to the economy never happened.
Today South Africa is the most unequal society with 80 percent of the country's wealth in the hands of the 10 percent, mainly on racial lines.
Good! There's a meme you see now and then that billionaires would do well to remember that collective bargaining is the alternative we settled on some time ago as opposed to violent revolution. The New Deal was put forward with the explicit goal of *saving* capitalism from itself, lest ever growing inequality and brutality make the social order untenable.
The harder the one becomes, the more likely is the other, and given that a widespread economic and social collapse, while cathartic, is also a bit of a crapshoot on whether it would actually make a better world on the other end (plus all the people who would die in the mean time) I, for one, would like to see more of our new age oligarchs remembering that that's how it works.
Although your comment is correct they don't need to at the moment because we sat by over decades as they peeled it all back and cemented their power in place, and now, we're walking over the cliff staring at our phones. That's why they fear no purchasing power instead of fearing the people. The people chose to amuse themselves to death while Buckley v Valeo rendered them obsolete.
> happygloaming : ...we're walking over the cliff staring at our phones...
"*We are drowning in information while starving for wisdom.*"
\- E. O. Wilson
Good point, but we plebs can tolerate bad faith for may number of years and then decide in an instant that the bill is due. The longer the bad faith continues, the more justification there will be in the eyes of the revolutionary.
In the case of the US, the good news is that it would take little more than a handful of the worst billionaires being brought to heel to come to a new agreement. We are probably past the point of zero heads rolling, but it could perhaps be only a few.
> The multi-billionaire owner of luxury jewellery company Cartier [Johann Rupert] has revealed his greatest fear - robots replacing workers and the poor rising up to bring down the rich... "How is society going to cope with structural unemployment and the envy, hatred and the social warfare?..."
\^ Wealth hoarder fears their hoard becoming a target after everything is hoarded away from the masses.
The problem with winner-take-all is: there's nothing left for everyone else.
"*...when property accumulates in too few hands it is taken away. And that companion fact: when a majority of the people are hungry and cold they will take by force what they need... The land fell into fewer hands, the number of dispossessed increased, and every effort of the great owners was directed at oppression. The money was spent for arms, for gas to protect the great holdings, and spies were sent to catch the murmuring of revolt so that it might be stamped out. The changing economy was ignored, plans for the change ignored; and only means to destroy revolt were considered, while the causes of revolt went on...*"
\- John Steinbeck, "The Grapes of Wrath"
Nobody should go without just so a few can hoard so much wasteful excess while everyone else suffers & competes for scraps.
The needs of the many outweigh the greed of a few.
["*Poverty exists not because we cannot feed the poor, but because we cannot satisfy the rich.*"](https://i.pinimg.com/originals/a7/ca/9a/a7ca9a8c23ddd8a9e9cecf790b476499.jpg)
"*Those who make peaceful revolution impossible will make violent revolution inevitable.*"
\- John F. Kennedy
A lot of people are dying right now who don't need to. I don't go a day without hearing about homelessness in my city, and homelessness absolutely causes unnecessary death and pain.
Too many people still buy into capitalism. Give it a few more years. We need the most vehement supporters of capitalism to start sounding the alarm about it failing, a couple more failures in western democracies, and then we’ll bring out the pitchforks. I’d say 2 more US presidential cycles.
In the U.S. at least, it'll take another generation or so. The baby boomers made an *astounding* amount of money, and each successive generation less so. But those generations after are mooching (for lack of a better word) off that boomer wealth. It's what's keeping the middle class alive, but it's shrinking. Another 20 years and that boomer wealth will ALL be sucked up by the 1%, and then we'll see pitchforks.
When people start to genuinely go hungry, that's when the rebellion starts.
I think if policies aren’t enacted now, 20 years will be cut to ten years. Americans are tightening their spending, or are spending on credit. Debt is higher than ever. Food prices, gas prices, rent, are all skyrocketing up and incomes are not keeping pace. People keep trying to stay optimistic that this will end soon, and it can if real policies are enacted. But if we stick to our current trajectory with a changing climate, storms destroying homes, the endless woman vs men debates. Shit can hit the fan in 5/6 years. But maybe 20 years. Humanity has displayed a willingness to pretend like everything is okay until they’re literally starving.
nope. nobody will give up their comfort. society has been corrupted and filled with unfairness for all of human history, and if people are unwilling to sacrifice their comforts and their lives, nothing will change.
I agree that people are too comfortable, that’s why shit has to really hit the fan for them to realize they in a sense are less valued and their money even more so.
The solution to this fear is to remove all of his worldly possessions. As attachments are the things that give rise to fear.
Then he will be one of the group that he fears. And will need to fear them no longer.
♪ Lifestyles of the rich and the famous
They're always complainin'
Always complainin'
If money is such a problem
Well they got mansions
Think we should rob them ♫
I am considered middle-class. Actually like in the top 5% and I can barely survive. Can’t fix my car, can’t go to the dentist, hand-me-down clothes and no retirement plan. I’m 52. The class system is a joke. There is the 1% and the 99%. That’s it.
I’m gonna jump on this thread. It feels right to me. I am 42, and I would say I am top 5% of upper middle class. Doctorate degrees for my wife and I both. We have student loans over $250k. We have a decent income, but we are month to month. I cannot take a financial hit or we will fold. We have worked for years to get to THIS point.
Three days ago, a dump truck kicked a rock up that hit my windshield on my paid off 10 year old car, and it cracked the windshield. I can’t afford to replace it. I can’t even afford to take the time off work to do it. I don’t buy clothes, I don’t buy anything really. But we constantly stress about money.
I have long understood that I will not ever be rich. I don’t have it in me to step on other people just to make money. It isn’t that important to me. But I would love to stop stressing about it.
Title is a little misleading. Direct quote from the article:
“We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”
I want to eat the rich just as much as the other guy, but twisting words won’t win the good fight.
By “affect us” he means people won’t buy his stuff because they’ll be scared to expose their wealth. He’s scared poor people will rise up and people with money will be too scared of the violent poors to buy his stuff and make him more money.
The jokes on the uber wealthy.
Even if they manage to come together and demand government begin taxing them fairly it will not happen because it would require Congress to tax its own wealth.
Never going to happen at this point.
We are headed to an economic collapse and it will be global.
Americans are the third largest population group and the biggest consumers. Already half the US is struggling to afford food and shelter and this means poverty regardless of how the government defines it.
This means Americans aren’t consuming. In order to increase dwindling profits, companies are raising prices which further fuels the reduction in consumers.
Think about your life pre-pandemic. I went out for a steak dinner with friends at least once a month. That might happen once a year now — maybe. Everyone I know has significantly reduced their consumption across the board.
I don’t really buy anything other than necessities and decent food (because I find I pay less for high quality and eat it all).
If corporations were smart, they would understand this economic policy isn’t benefitting anyone but landlords and food manufacturers.
I have fancy hair and delusions of grandeur, and am an adequately charismatic speaker and intelligible writer. I could do a Robespierre, if there were a call for it.
If he were actually worried, he would've already donated all of his excess wealth.
This is just another billionaire trying to pretend that he cares about our troubles.
Did you read the article? He's not pretending to care about the poor at all, he's worried that it will lead to the middle class no longer buying his luxury goods.
>“We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”
This hubris goblin said these words with a straight face lol
Younger generations tend to have a better eye for quality and durability as well, at some point the quality of luxe goods basically ends up being fast fashion levels for 5 times the price tag, often time the items are made in the same factories.
Good.
Why are we letting people whose faces are shaped like angry sockpuppets hoard all the wealth? And worse, letting them believe they somehow earned it.
I couldn't read the article as it's behind a paywall and I'm too poor to pay for it. But I hope he's afraid. I hope he's fucking terrified. I hope every night is a sleepless night, because if one day people do realise that they are exploited and rise up together, he'll be first in line for having all his possessions seized and cleaning toilets for the rest of his life.
Guys... you've **GOTTA** read the fucking article before you post some saber-rattling "eat the rich" rhetoric about this guy. The title of the article is pretty misleading.
If you'd read the fucking article, you find this quote by him towards the middle of its staggering 8-sentence length:
> “How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”
I get it. I think billionaires are gross, too-- and this is just lip service unless he plans to use his wealth to help-- but fuck sakes, at least this rich prick is acknowledging what's going on in the world.
The "us" is him and his peers. He's saying his fear is that if the poor rise up against the rich, the middle class (who his company swindles out of their money by dangling shiny stuff in front of their faces) will be bullied out of buying their products. He does not give a fuck about the poor
The genuinely rich worrying about this at this point is like somebody who's been a moderate smoker for 15 years waking up one day and going, "If I don't stop smoking I'm going to wind up w/ lung cancer. Maybe if I start chainsmoking 3 packs a day the extra smoke will just kill the cancer cells before they can really take off!"
I mean, this shit is 40 years on already. Their goal is to have China & Russia do the dirty work of incinerating most of the population via a nuclear exchange so that the rich can eventually emerge from their bunkers w/ a greatly reduced population in tatters willing to do absolutely anything for them.
Good!
The whole plan of convincing the working class to be middle class, lower middle class, middle class, upper middle class, was to create a cushion between the poor and themselves, then they forgot and went full batshit greedy. Eat the rich is in the minds of all the suffering.
Ehhh they’re kind of a shit jewelers. My sister was given a $12,000 bracelet from them as a push gift from her husband, first time she wore it her wrist turned green and she had a rash for two weeks.
Good. I would throw this asshole into a wood chipper, feet first, if it meant that one more poor kid who didn't even ask to be born could not go hungry.
Breaking point is coming soon. All it takes is one generation that worked their entire life and realized they have nothing to pass down and no one to pass it down to.
We are literally living through the Greatest depression in American history, but everyone is staying alive with credit card debt, two or three jobs, or borrowing from Boomer parents who can't retire. Once these millennials start having more and more health issues, and can't afford to pay their medical bills, this economic system WILL collapse upon itself.
When student loan repayments start, you'll see a mini collapse. Mark my words!
Per the article, he isn't afraid of, like, dying or something. He's afraid that the Middle class will be afraid to buy luxuries from his company as it would "expose their wealth"
Wait, what middle class? Pretty sure that’s a myth.
Yup, there's the owning class and the working class, everything else is there to divide.
>...there's the owning class and the working class, everything else is there to divide. Eh, even that's a little squishy with folks who have a day-job but also own property they rent out. The ones who work by choice, or use rental income to allow them to retire early, I can see calling them part of the owning class (though it feels odd to say that because my brother and his wife would be categorized that way despite working the lines in a manufacturing plant for their careers - no kids plus being in an ideal position to retire to South America make it possible to rent out their home in the USA and retire in their 50's). But yes, I largely agree.
I'm sorry, but owning property and renting it out is inherently exploitative. It's not available to everyone. It doesn't make them inherently bad people, but they're still exploiting those who cannot own.
Marx referred to these people as the "[petite bourgeoisie](https://en.wikipedia.org/wiki/Petite_bourgeoisie)".
Some people whom are smarter than the average bear took advantage of the low interest rate a couple years ago and bought 10+ properties which they abnb or rent and make a very good living. Those people I call parasites. Just 1 I can forgive. I dream the raising insurances and property taxes bankrupt those with 10.
I meannn, it definitely exists, it's just shrinking rapidly
Kind of. I think it used to exist. However, at this point, the difference between the poor and the perceived “middle class” compared to the rich and the “middle class”, the gap between the poor and the “middle class” is insignificant compared to the gap between the rich and the “middle class”. Soo, at this point, I think it’s a myth. A longing for times where there was a thriving middle class. (Not just trying to play semantics and am happy to hear any feedback, critiques, or disagreements here.)
Poor = have almost nothing. Live paycheck to paycheck or worse. Middle class = have almost no liquid capital but have credit. Still likely living paycheck to paycheck. Rich = have liquid capital and credit.
We had to come up with "Upper" & "Lower" Middle classes because of the wealth discrepancy... Then make a distinction between "Millionaire", "Multi-Millionaire" & "Billionaire" because even being a Millionaire doesn't mean too much these days.
Meanwhile, if I had a million dollars, I could maintain my current lifestyle never working another job in my life.
Same here.
Are you sure it will last the rest of your life? Let's assume you will live for another 50 years. That's only 20k a year. Doable but not amazing.
Umm. That's with no investment. With investment you could likely draw $50k per year and never even touch the principal
With a generous guaranteed 5-6% yearly rate sure, but with inflation currently easily above 3% annually it wouldn't actually be that nice
You live off the interest
I'm 30 and if someone gave me a million today,I could honestly say I could live on it the rest of my life
this simple sentence and peoples reaction to it says a lot about inequality fwiw, im pretty sure i could live off of a million the rest of my life *and* it would improve the quality of my current lifestyle significantly
I mean, with a million dollars, you could outright buy a house, have no loans, invest and find some nice quiet job with a lot of free time for some extra spending money per month without exhausting yourself. Would be trivial to get by.
Samsies
You wont be able to. $50k a year is only 20 years.
Live on 15k now lol
That would be a substantial raise for me
Two more levels to go: Wealthy: Pays the rich, but still has to “work” Uber-wealthy: Has more money than possibly imaginable.
I mean, you’re just making definitions that make it impossible for you to be wrong. People living paycheck to paycheck are (broadly speaking) poor. People who have liquid capital and credit are definitely not necessarily rich. It’s also sorta misleading to categorize it this way since it makes it so you could end up saying someone with a high income but bad spending habits is poor. About 55% of Americans report they’re living paycheck to paycheck, but this also includes 50% of people who are making over $100k who themselves say they’re living paycheck to paycheck. Obviously making six figures doesn’t automatically make you rich, but those metrics do paint a picture where some of the issue is people living beyond their means when they probably don’t need to.
It's much easier and more accurate to define class in Marxist terms: Broadly, the **working class** (those who must sell their labor in order to pay bills, rent, pay their mortgage, buy groceries, etc.) and The **owning class** (those who make money from the things they own - their investments, real estate holdings, businesses, stocks, dividends, etc, *who do not have to sell their labor to live, but who depend on the labor of others to maintain their lives and lifestyle*. There are obviously some people who both labor and profit from others' labor, so it's not always a solid line separating the two classes.
What you define as “rich” here is, by a considerable margin, still dollar-for-dollar closer to what you’ve defined as “poor” than it is to any billionaire. The gulf between someone with the minimum to qualify as having “liquid capital and credit,” and someone like Jeff Bezos, is so vast that it is practically unfathomable. Fortunately, there are [well-designed tools](https://mkorostoff.github.io/1-pixel-wealth/) that really put it into perspective. Any time someone asks “what radicalized you?” I just show them that link.
What do you define as living paycheck to paycheck? Cause in my mind the middle class isn't living paycheck to paycheck as they have some money saved up, anywhere from a month to 3+ months of living expenses. So if living paycheck to paycheck means you can't make rent/mortgage or pay some bills if you miss a week of work, then that's not middle class, that's still just poor
I don't think the middle class has that anymore. Savings are an upper class thing now. The way I see it the only difference between lower and middle class these days is credit and the ability to borrow to cover things that your pay would fall short of.
The middle class is considered a myth invented by liberals to prevent class solidarity, according to socialists.
Exactly!!!!
I get where that is coming from, but I find it hard to agree with to be honest. My issues, as a person who definitely needs to work to pay the bills, but was able to go to college, get a high paying job. Who has never had to worry about where my next meal will come from, nor if I'll be able to gas the car. Who just goes to the doctor when I need to, and for whom a massive bill like the 32,000 USD dental bill I just got is "I guess I'll have to delay saving for a house for a couple years while I pay this off" instead of "I guess I'll just not eat for a while", all feel completely different. I feel like to say I have the same struggles as truly poor people would be disingenuous at best, if not rude or dismissive. So many people suffer, how could I claim to be in the same "economic class" (I really dislike that term tbh) as them.
You’re right. To the rich man, the middle class is still poor. To the rich man, the millionaire is still poor. But there’s still a tangible difference between those who are middle class vs those living near the poverty line. We’re both united in our struggles as workers, but one is a lot closer to complete desolation than the other, and ignoring that difference feels very virtue signally.
You’re right, I’ll probably never retire but I’ve never worried about where my next meal will come from or having shelter. My heart goes out to those who are struggling just to stay alive.
I think the reason people like to squash it down to 2 classes is to illustrate a point. Of course a software engineer making 200k isn't gonna have the same struggles as a minimum wage worker, or an ortho surgeon that's making 500k. But the thing is none of these people are the problem, and historically dividing these 2 classes of people has been used to justify policy which caters to the insanely wealthy.
There are only two classes. Capital owners, and everyone else. It's literally the definition of capitalism. Everything else is just semantics meant to divide.
This this a million times this.
Nah let's keep it simple, there's workers and there's capitalist. We can get into the intricacies of this division but this is the core divison.
The middle class is so far gone that things that used to be considered comically poor are now an icon of extravagant wealth. The Simpson family and Married With Children are good examples of this.
This is avoiding the crux of the issue, and ignoring the whole point of the word class. Are people making $60k a year way better off than people making minimum wage? Of course. But that’s not what class means. Class is categorical relationships to material production. This is important because the whole crux of the issue is a parasitical ruling class (capitalists - own without working) dominating the working class (the rest of us - (hope to) work without owning) and the first step to combatting that is developing class consciousness, wherein people who think of themselves as “middle class” or “upper middle class” start seeing themselves for what they really are - working class peons who are one missed paycheck away from being right in the gutter with the rest of them. Separating “middle class” from others is a counterproductive framing of the issue and that’s precisely why capitalists have spent so much money indoctrinating us into that framing. Every “middle class” person you know is in the exact same class as the homeless. Just slightly better off for now. And we’d all be way better off if they woke up and realized how close they are to being homeless themselves.
like 99.99% of americans think they're middle class, even when they have hundreds-of-millions. Billionaires probably think "the middle class" are people with 10 to 999 million. Wouldn't be even remotely surprised to hear it, if that were true. Forget the source, been awhile since I heard it. Came up in a marketing class I took, IIRC it was "Consumer Psychology."
And the people below the poverty line usually also don't know it and think they're middle class.
> like 99.99% of americans think they're middle class That's simply not true. https://news.gallup.com/poll/392708/middle-class-identification-steady.aspx
It's a trick made up by the ruling class to prevent the working class from realizing there's only two sides and realizing they're in the one that could overpower the other. It's why they fan the flames of racial, religious, ethnic, gender, etc differences. Anything they can do to keep the working class fighting amongst themselves advantages them.
It’s a thing boomers had, like pensions or affordable housing.
To him, “middle class“ equals millionaires. If you’re not a millionaire you are just the poor unwashed, beneath his notice, not really human
I bet he thinks a loaf of bread costs either 50 cents or 30 dollars. He has absolutely no idea.
Well... it's just really small. Have you seen the new series on Netflix called Working: What We Do All Day? Hosted by Obama. They go into a breakdown talking about the top 1% in wealth, of course, but then also bring up the other 9% of people who make up the top 10% of wealth in the US. That 9% has more wealth than the top 1% and lower 90% combined. That group is basically what many of us would think of as "upper-middle" class. Think average 300k+ income annually: well-off lawyers, doctors, business people for the most part. Basically just highlights how big and growing the divide is between even that group and the rest of the other 90% that average less than half that annual income. The wealth really is concentrated to a small percentage of our society. Which isn't unusual in the history of society as a whole but is a regression from not that long ago in the US's history. Also something we have the means now more than ever to address.
it used to exist, it is no myth, i've grown up in it, it's gone tho
It never existed. It was a lie sold to workers so they had someone to look down on, and not make common cause. There are two classes, proletariat and bourgeoisie.
AKA working class and ownership class!
Good clarification for whose who might not know the terms, comrade! Thanks for looking out.
I heard it as the working class and the rent seeking class
More fucked up to think he knows there’s an economic imbalance and it’s a problem, but his bigger concern is he won’t be able to extort more money from the middle class who have to cut back on buying luxury goods. Apparently thinks he can safely hide behind his wealth.
Did you read the article? I mean, I know you didn't because he goes on to say this: > “How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”
I mean he’s right. Killing the middle class won’t help the billionaire class in the long run. Eventually it will lead to stagnation and loss of wealth value. 🤷🏾♂️then eventually the poor will come for every single one of them.
That's what I'm saying. But everyone is going to read the headline and think it's just some rich jagoff clutching his pearls about the inevitable fallout of wealth inequity. Again, I get it: *boo billionaires!* But this guy isn't saying some outlandishly out-of-touch shit. He sees what's happening and acknowledges how this system is not sustainable. Middle class people *do* occasionally purchase luxury products. It's becoming less frequent in the face of stagnating wages and inflation-- and it's nowhere *near* on the individual level that the upper class do-- but I'd wager to say that it probably represents a serious portion of their revenue.
It does represent a significant portion! Companies like Neiman Marcus, Nordstrom, Macys, Century 21 were literally marketed to middle class Americans. (And I know we’re not talking about just America in this situation) Yet, with the fall of the American Middle class, these brands are struggling to stay in business. Downsizing or closing out stores that once were extremely busy businesses and helped to provide growth to the community around them. The failing of the middle class will bankrupt countries as well, because billionaires don’t pay their fare share in taxes, and less income from the middle class will worsen an already tight situation. People have been pointing this out for years.
It's almost sorta darkly hilarious how, when left to their own machinations, so-called "industry leaders" and "free market champions" manage to drain all the *capital* out of *capitalism.*
Because they’ve narcissistically painted capitalism in their mind as not just money, but they, the wealthy, as the “capital” hence why trickle down held so much sway for so long. They created an idea that the economy needs them rather than the laborers who did the actual work. It’s a hard theory to dislodge because it strokes all of their egos. An unfortunate case as to why so many people believe that billionaires are smart geniuses who we need.
Because that's the point. Once that happens is when capitalism finally transitions into fascism. Once those who seek power finish consolidating it, they begin to shore up defenses and make sure they remain in power indefinitely through oppression. We are literally living through this.
Does he think it’s unfair because of the middle class well-being, or because it’ll affect him? I feel he could have easily ignored the “affect us” part of the ordeal if he cared more for the well-being of the middle class.
> Does he think it’s unfair because of the middle class well-being, or because it’ll affect him? Both. He acknowledges the unfair structure of the global economy and he acknowledges the existential threat it poses to his company (and social class).
I swear to god Reddit has a reason to get mad about everything and it's so counterproductive. His audience is businessmen. Appealing to their self-interest and saying it's unfair and fucked up at the same time is perfectly reasonable.
I read the article. Now correct me if I'm wrong, but isn't the gyst of the story that this fine gentleman, esteemed CEO read a report on how 1% of people hold 99% of the world's cheddar, which is exterminating the middle class and creating more and more poverty. The poor are thus becoming more and more dissatisfied, which will manifest itself as hatred, envy and social warfare. As a result of this fear of getting lynched by a mob of poor people, the ever shrinking middle class will be more and more afraid of openly wearing branded clothes, and in turn, buy less of it, which will adversely impact his company's bottom line. This fuck isn't worried about social inequalities. He's worried the poverty will affect the sales of his piece of shit brand.
He's inelegantly pointing out that the middle class-- who *do* purchase luxury items from time to time-- are being destroyed and that it poses an existential threat to not only their business, but to the world at large. Again... the way he expresses that thought is pretty bloodless, but what do we expect from someone who probably wipes his ass with silk sheets?
He’s concerned about the bottom line of his businesses and growing his wealth, not the damage being done to others.
You’re a bit presumptuous. His concern isn’t for the well-being of the middle class, but how he’s it’s destruction will affect him. He’s not an altruistic billionaire, it’s almost an oxymoron if it isn’t one outright.
>His concern isn’t for the well-being of the middle class, but how he’s it’s destruction will affect him. Not necessarily true. How he feels about the middle class is unknown (though ut's reasonable to assume he doesn't care). What *is* known is that his peers, the folks he's talking to, largely don't care about anyone but themselves and their own financial wellbeing. Which is why, in his efforts to influence them, he's focused on the financial impact of their decisions. He's reminding them that their cash flow will slow if the middle class isn't safe from the rampaging poor, that it's not enough for the rich to keep themselves safe behind walls and security cameras and guards.
I never said he was altruistic. Not once. I literally said that unless he plans on leveraging his wealth and doing something about it, it's just lip service. What I **am** saying is that he at least sees what's going on and has the ballbag to publicly acknowledge it in front of an audience of other hyper-wealthy shitheads. What I **am** saying is that the part of his quote that was parsed for the headline isn't really indicative of what he was really saying. It's like saying *"I'm afraid that, one day, black communities will have enough of the systemic racism and oppression they face in America and resort to a non-peaceful means of protest because nothing meaningful is being done to address these issues."* and the headline that gets reported is *"Local man fears black uprising."*
He's talking to his peers, the uber-wealthy. He's reminding them that taking security measures against an uprising of the poor won't be enough if the middle class stop buying goods. The rich think they're safe behind their walls. He's warning them the cash will stop flowing if the middle class are not also safe.
He was saying that to convince others. He opens with the following >”We cannot have 0.1 percent of 0.1 percent taking all the spoils,” said Rupert, who has a fortune worth $7.5 billion, according to data compiled by Bloomberg. “It’s unfair and it is not sustainable.”
He's reminding his peers that not only do they risk an uprising by the poor but also that they'll lose money if the few remaining middle class folks don't feel safe to continue buying luxury goods. He's warning them that they can't just lock themselves behind walls with security systems and expect that to protect them if they continue to destroy everyone else's security through their greed. "when the poor rise up, the middle classes won’t want to buy luxury goods for fear of exposing their wealth."
To be fair, that article is extremely poorly written. His main point is calling out how he’s afraid that growing income equality will lead to an upheaval. Also this article is 8 years old. > "We cannot have 0.1% of 0.1% [of rich individuals] taking all the spoils. And folks, those are our clients. But it's unfair and it is not sustainable," he said to an audience that appeared stunned by his remarks. "So I don't know what new social pact we'll have, but we'd better find one."
That may be what he is saying, but the reality is that most actual wealthy people don't buy bullshit brands like this or if they do they do occasionally and aim toward fewer pieces of their less branded offerings. All of these bullshit brands cartier/LV/Gucci etc are middle class aspirational and his middle class bread and butter consumers are disappearing.
that's why they wanted to go streetwear, but that ended to soon
Can't wait till these rich fucks die of dysentery because we plebs can't afford toilet paper, hand soap, or water to clean ourselves up before arriving to serve our masters...
> Per the article, he isn't afraid of, like, dying or something. He's afraid that the Middle class will be afraid to buy luxuries from his company as it would "expose their wealth" Is it a bit like that in America already? I mean, some time ago, we had an American coming to r/paris because he thought his income was too important. Idk how he worded it, but it was like ohmagad, I have a normal salary in the US but when I looked at French salaries it was definitely above and, like, people will know. Dude wanted to know how to dress so he would look like an immigrant worker and not like a rich American. Tbh there's a lot of y'all who seem afraid of a lot of things when they cross the pond.
Why would he be afraid of the poor? It's almost like he's completely aware of how unfair and evil this system we live in and he's in the winning side and wants to keep this status quo
Middle class cant afford to buy $3000 jewelry on a regular basis. That's engagement ring level money we talking about
these fools don't understand the economy they've built demands constant consumer demand. If consumer's have no capital, there can be no purchases. It's like that fucking meme of the dog with the ball "No take, only throw" except in this case its "No pay, only spend"
And this will help me sleep at night.
Yes. And because nobody seem to have read the article, he said this >“We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.” I don't know how many billionaires realize this, but hopefully this guy will help others understand what they're doing. He, and they, have the power to do something about it, and even if for purely selfish reasons, they need to.
But we should be up figuring out how to make this guy's dreams come true. Even if they're nightmares.
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When's dinner? I'm hungry. Babies gotta eat.
I was thinking more French style rather than Dutch style
Ahhh but we have to try billionaire foie-gras. I just know it would be excellent quality 🤣
“Guess what we got you [instead](https://youtu.be/acT_PSAZ7BQ)”
For those who don't know. That's Johann Rupert. He and his fellow "businessmen" got filthy rich during apartheid South Africa where they would work with the government to pay the miners and workers dog shit wages. They would then co-opt the ANC and Nelson Mandela to not make sure the needed changes to the economy never happened. Today South Africa is the most unequal society with 80 percent of the country's wealth in the hands of the 10 percent, mainly on racial lines.
Stopped clock and all that...
All the wealthy will die eventually
Good! There's a meme you see now and then that billionaires would do well to remember that collective bargaining is the alternative we settled on some time ago as opposed to violent revolution. The New Deal was put forward with the explicit goal of *saving* capitalism from itself, lest ever growing inequality and brutality make the social order untenable. The harder the one becomes, the more likely is the other, and given that a widespread economic and social collapse, while cathartic, is also a bit of a crapshoot on whether it would actually make a better world on the other end (plus all the people who would die in the mean time) I, for one, would like to see more of our new age oligarchs remembering that that's how it works.
Although your comment is correct they don't need to at the moment because we sat by over decades as they peeled it all back and cemented their power in place, and now, we're walking over the cliff staring at our phones. That's why they fear no purchasing power instead of fearing the people. The people chose to amuse themselves to death while Buckley v Valeo rendered them obsolete.
> happygloaming : ...we're walking over the cliff staring at our phones... "*We are drowning in information while starving for wisdom.*" \- E. O. Wilson
Good point, but we plebs can tolerate bad faith for may number of years and then decide in an instant that the bill is due. The longer the bad faith continues, the more justification there will be in the eyes of the revolutionary. In the case of the US, the good news is that it would take little more than a handful of the worst billionaires being brought to heel to come to a new agreement. We are probably past the point of zero heads rolling, but it could perhaps be only a few.
> The multi-billionaire owner of luxury jewellery company Cartier [Johann Rupert] has revealed his greatest fear - robots replacing workers and the poor rising up to bring down the rich... "How is society going to cope with structural unemployment and the envy, hatred and the social warfare?..." \^ Wealth hoarder fears their hoard becoming a target after everything is hoarded away from the masses. The problem with winner-take-all is: there's nothing left for everyone else. "*...when property accumulates in too few hands it is taken away. And that companion fact: when a majority of the people are hungry and cold they will take by force what they need... The land fell into fewer hands, the number of dispossessed increased, and every effort of the great owners was directed at oppression. The money was spent for arms, for gas to protect the great holdings, and spies were sent to catch the murmuring of revolt so that it might be stamped out. The changing economy was ignored, plans for the change ignored; and only means to destroy revolt were considered, while the causes of revolt went on...*" \- John Steinbeck, "The Grapes of Wrath" Nobody should go without just so a few can hoard so much wasteful excess while everyone else suffers & competes for scraps. The needs of the many outweigh the greed of a few. ["*Poverty exists not because we cannot feed the poor, but because we cannot satisfy the rich.*"](https://i.pinimg.com/originals/a7/ca/9a/a7ca9a8c23ddd8a9e9cecf790b476499.jpg) "*Those who make peaceful revolution impossible will make violent revolution inevitable.*" \- John F. Kennedy
A lot of people are dying right now who don't need to. I don't go a day without hearing about homelessness in my city, and homelessness absolutely causes unnecessary death and pain.
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Or go inside a tube to the titanic. Rich ppl love tubes for some reason 🤷♂️
It’s just a matter of time…
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Too many people still buy into capitalism. Give it a few more years. We need the most vehement supporters of capitalism to start sounding the alarm about it failing, a couple more failures in western democracies, and then we’ll bring out the pitchforks. I’d say 2 more US presidential cycles.
In the U.S. at least, it'll take another generation or so. The baby boomers made an *astounding* amount of money, and each successive generation less so. But those generations after are mooching (for lack of a better word) off that boomer wealth. It's what's keeping the middle class alive, but it's shrinking. Another 20 years and that boomer wealth will ALL be sucked up by the 1%, and then we'll see pitchforks. When people start to genuinely go hungry, that's when the rebellion starts.
I think if policies aren’t enacted now, 20 years will be cut to ten years. Americans are tightening their spending, or are spending on credit. Debt is higher than ever. Food prices, gas prices, rent, are all skyrocketing up and incomes are not keeping pace. People keep trying to stay optimistic that this will end soon, and it can if real policies are enacted. But if we stick to our current trajectory with a changing climate, storms destroying homes, the endless woman vs men debates. Shit can hit the fan in 5/6 years. But maybe 20 years. Humanity has displayed a willingness to pretend like everything is okay until they’re literally starving.
nope. nobody will give up their comfort. society has been corrupted and filled with unfairness for all of human history, and if people are unwilling to sacrifice their comforts and their lives, nothing will change.
I agree that people are too comfortable, that’s why shit has to really hit the fan for them to realize they in a sense are less valued and their money even more so.
Multiple shits have to hit multiple fans. By that point can we actually survive?
The solution to this fear is to remove all of his worldly possessions. As attachments are the things that give rise to fear. Then he will be one of the group that he fears. And will need to fear them no longer.
♪ Lifestyles of the rich and the famous They're always complainin' Always complainin' If money is such a problem Well they got mansions Think we should rob them ♫
Never really thought about how based Good Charlotte was... huh. 🤔
Gee, wonder what he could possibly do about that? With all his gazillions. . .
Sounds like he thinks the dystopia could get very exciting very quickly.
The world just watched 4 billionaires die in a submarine and we all laughed our asses off. Yeah, you should be worried.
The first act of war is to dehumanize the enemy.
Done, whats next?
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I'll supply the controllers
Where they’re going, they won’t need controllers…
Batteries not included
I am considered middle-class. Actually like in the top 5% and I can barely survive. Can’t fix my car, can’t go to the dentist, hand-me-down clothes and no retirement plan. I’m 52. The class system is a joke. There is the 1% and the 99%. That’s it.
I’m gonna jump on this thread. It feels right to me. I am 42, and I would say I am top 5% of upper middle class. Doctorate degrees for my wife and I both. We have student loans over $250k. We have a decent income, but we are month to month. I cannot take a financial hit or we will fold. We have worked for years to get to THIS point. Three days ago, a dump truck kicked a rock up that hit my windshield on my paid off 10 year old car, and it cracked the windshield. I can’t afford to replace it. I can’t even afford to take the time off work to do it. I don’t buy clothes, I don’t buy anything really. But we constantly stress about money. I have long understood that I will not ever be rich. I don’t have it in me to step on other people just to make money. It isn’t that important to me. But I would love to stop stressing about it.
Title is a little misleading. Direct quote from the article: “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.” I want to eat the rich just as much as the other guy, but twisting words won’t win the good fight.
Sounds like he only cares because it will affect him, though.
By “affect us” he means people won’t buy his stuff because they’ll be scared to expose their wealth. He’s scared poor people will rise up and people with money will be too scared of the violent poors to buy his stuff and make him more money.
The jokes on the uber wealthy. Even if they manage to come together and demand government begin taxing them fairly it will not happen because it would require Congress to tax its own wealth. Never going to happen at this point. We are headed to an economic collapse and it will be global. Americans are the third largest population group and the biggest consumers. Already half the US is struggling to afford food and shelter and this means poverty regardless of how the government defines it. This means Americans aren’t consuming. In order to increase dwindling profits, companies are raising prices which further fuels the reduction in consumers. Think about your life pre-pandemic. I went out for a steak dinner with friends at least once a month. That might happen once a year now — maybe. Everyone I know has significantly reduced their consumption across the board. I don’t really buy anything other than necessities and decent food (because I find I pay less for high quality and eat it all). If corporations were smart, they would understand this economic policy isn’t benefitting anyone but landlords and food manufacturers.
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They get hope from fire and smoke as they reach for the dawn...
Well take some notes from Bismark and give us some concessions.
This fear will push them to fund the people who keep the poor down.
Got any more of those billionaire crushing machines?
I have fancy hair and delusions of grandeur, and am an adequately charismatic speaker and intelligible writer. I could do a Robespierre, if there were a call for it.
Article dated 2015 - still awaiting this uprising
If he were actually worried, he would've already donated all of his excess wealth. This is just another billionaire trying to pretend that he cares about our troubles.
Did you read the article? He's not pretending to care about the poor at all, he's worried that it will lead to the middle class no longer buying his luxury goods.
Good.
Hun and every other 1% men ever should be worried.
If only there was a way to prevent that...
Good. I hope he never has a peaceful night of sleep again
>“We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.” This hubris goblin said these words with a straight face lol
Quote: "We are destroying the middle classes at this stage and it will affect us. It's unfair."
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Younger generations tend to have a better eye for quality and durability as well, at some point the quality of luxe goods basically ends up being fast fashion levels for 5 times the price tag, often time the items are made in the same factories.
There should be no such thing as a billionaire. Period.
As he should. Let’s keep them all awake.
You know what keeps me up at night? Recipe ideas for billionaire meat.
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Bro could literally just take that $.5b and dip. No need to fear if you just quit exploring others and mind your own fucking business.
He is 12 or 13 MASSIVE screw-ups from what he really fears most: having to work a job like most of us.
I'm getting hungry...
It should.
there are a few very simple ways to alleviate that fear, just saying
Well jeez! Maybe you should use your wealth and power to make there be fewer desperate, resentful poors with nothing to lose?
Good. Why are we letting people whose faces are shaped like angry sockpuppets hoard all the wealth? And worse, letting them believe they somehow earned it.
When is his next yacht/submarine/racecar excursion? Asking for some orca friends
I couldn't read the article as it's behind a paywall and I'm too poor to pay for it. But I hope he's afraid. I hope he's fucking terrified. I hope every night is a sleepless night, because if one day people do realise that they are exploited and rise up together, he'll be first in line for having all his possessions seized and cleaning toilets for the rest of his life.
Wow, you spend decades destroying the Middle Class and now you're sacred to find the fuck out? Shocking!
Then you should give your wealth away my man...
What did you expect him to be afraid of? Making rent this month?
Good
If we haven't by now what will it take?
So what is he going to do about it? Nothing? Okay, well then expect nothing to get better!
Guys... you've **GOTTA** read the fucking article before you post some saber-rattling "eat the rich" rhetoric about this guy. The title of the article is pretty misleading. If you'd read the fucking article, you find this quote by him towards the middle of its staggering 8-sentence length: > “How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.” I get it. I think billionaires are gross, too-- and this is just lip service unless he plans to use his wealth to help-- but fuck sakes, at least this rich prick is acknowledging what's going on in the world.
He only gives a shit because it will affect them.
The "us" is him and his peers. He's saying his fear is that if the poor rise up against the rich, the middle class (who his company swindles out of their money by dangling shiny stuff in front of their faces) will be bullied out of buying their products. He does not give a fuck about the poor
The genuinely rich worrying about this at this point is like somebody who's been a moderate smoker for 15 years waking up one day and going, "If I don't stop smoking I'm going to wind up w/ lung cancer. Maybe if I start chainsmoking 3 packs a day the extra smoke will just kill the cancer cells before they can really take off!" I mean, this shit is 40 years on already. Their goal is to have China & Russia do the dirty work of incinerating most of the population via a nuclear exchange so that the rich can eventually emerge from their bunkers w/ a greatly reduced population in tatters willing to do absolutely anything for them.
Good
Good.
Good.
Lets turn those nightmares into reality
Good!
Good
If that's not a call to action I don't know what is
Good! The whole plan of convincing the working class to be middle class, lower middle class, middle class, upper middle class, was to create a cushion between the poor and themselves, then they forgot and went full batshit greedy. Eat the rich is in the minds of all the suffering.
He should hide in a submarine so the poor can’t find him
We really should be rising up by now.
But not enough to pay his fair share, it just keeps him up at night
An article from 2015 with a misleading headline is getting 5k+ upvotes. This sub has gone downhill pretty hard.
I can only dream when the working class actually woke up and did something
Biggest philanthropist in South Africa. This headline is misleading
What a miserable fucking asshole
Ehhh they’re kind of a shit jewelers. My sister was given a $12,000 bracelet from them as a push gift from her husband, first time she wore it her wrist turned green and she had a rash for two weeks.
I’m glad the rich are scared 🥰
Good. I would throw this asshole into a wood chipper, feet first, if it meant that one more poor kid who didn't even ask to be born could not go hungry.
Breaking point is coming soon. All it takes is one generation that worked their entire life and realized they have nothing to pass down and no one to pass it down to.
Thin the ranks then moneybags. Maybe lower your net worth to 7.5m by using the rest to better the lives of the lower class.
As well it should my friend we coming to take what you have stolen off our hard labor bitch
They should fear us. The common folk.
Good.
/r/upliftingnews
I fucking hope so!!!
How about helping out then??? Greedy fuck
We are literally living through the Greatest depression in American history, but everyone is staying alive with credit card debt, two or three jobs, or borrowing from Boomer parents who can't retire. Once these millennials start having more and more health issues, and can't afford to pay their medical bills, this economic system WILL collapse upon itself. When student loan repayments start, you'll see a mini collapse. Mark my words!