Really?
I believe in capitalism, but their "plight" does not compare to the million who were laid off and lost their jobs.
What's more, many wealthy families missed out on the big financial-market rallies in 2012 and 2013 and feel like they missed the best chance to invest.
Again, this Stock Market is nothing but hot air, created by Fed pumping. The Fed is now leveraged almost 80-1.
I feel like we are heading for an economic disaster of Biblical proportions.
Uhm...hording? I have about 25% of my net worth in cash. I have no idea what to invest it in. Am I hording? What should I do with it? Buy savings bonds? (Gag, choke!) Give it to President Obama, because, after all, at some point I’ve made enough?
I hoard canned beans, and they hoard millions of dollars of cash.
Err, dude. Billionaires do that sort of thing. That’s why they’re billionaires.
Only 19% of their net worth in cash? That is not very much at all given where the stock market is.
It’s all paper and its bleeding out fast.
Now if it were said that Michael Moore was hording calories or that Sheila Jackson Lee was hording ignorance that might make some sense, but still there is plenty of ignorance to go around - I mean look at MSNBC.
I have about $200 in quarters in a plastic jar. If I can just save enough of them, I'll be one of those billionaires.........
I don’t blame them.
Obviously these billionaires know nothing about the economy which is booming like dynamite... or something
There's only 403 billionaires in the US.
403 x 600 million equals 241.8 billion.
What is that? 2 weeks of the federal budget.
Hoarders, wreckers and counter-revolutionaries must be ground into dust!!!!
They just waiting for a chance to buy something Obama can’t screw up. Given his refusal to recognize the constitutional limits on his authority and a propensity to screw up everything he touches, that means waiting until he’s out of office.
Got skills? Land? Crops? Critters? Water? Lots of ammo to hold onto the aforementioned? The ancient measures of wealth may come back into vogue.
Hording cash? If things get really nasty cash is the last thing you would want. Gold, Diamonds and such are better. Guns and bullets are best.
CC
Despite the picture, where does it say they are holding literal paper money?
They aren’t. By cash they mean liquid “cash” as in immediately available for access. Like your checking or regular savings account. As opposed to being tied up an asset that has to be traded or sold to acquire money..
I really don’t think this piece is saying that the rich have giant vaults full of paper money, like Scrooge McDuck or Richie Rich