Socialism - Should we be worried

User avatar
jalanlong
Executive Member
Executive Member
Posts: 829
Joined: Mon Jul 01, 2019 7:30 am

Socialism - Should we be worried

Post by jalanlong » Tue Mar 07, 2023 9:48 am

https://www.collegemedianetwork.com/alm ... socialism/

https://news.gallup.com/poll/257639/fou ... alism.aspx

As a person that is heavily invested in stocks for generational wealth, I will have to admit that the one thing that frightens me most about their future returns is the growing hostility towards business and wealth. I try to tell myself that there has always been a segment of the population that has been anti-wealth (see Huey Long and his Share Our Wealth Plan in the 1930s) but the articles above do show that trend creeping into mainstream thinking. 40% of college students polled think socialism is a good thing. 43% of a Gallup poll of adults think socialism is a good thing compared to 25% back in 1942.

I know those type of questions are up for interpretation. For example, what is socialism to the responder? Is it something as simple as social security or something more radical like a cap on wealth? But still, is this a worry going forward for the profitability of our corporations?
boglerdude
Executive Member
Executive Member
Posts: 1313
Joined: Wed Aug 10, 2016 1:40 am
Contact:

Re: Socialism - Should we be worried

Post by boglerdude » Tue Mar 07, 2023 7:44 pm

"We have yet to address one of our biggest vulnerabilities: America’s traditionally loose culture. The decentralized, defiant, do-it-your-own-way norms...America’s disorderly response to the coronavirus reflects our cultural conditioning over the last several hundred years...Tight societies, like China,...have many rules and punishments governing social behavior....Tight rules and order save lives"
https://www.bostonglobe.com/2020/03/13/ ... ighten-up/

https://www.city-journal.org/the-great- ... university

DeSantis '24
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Socialism - Should we be worried

Post by vnatale » Tue Mar 07, 2023 8:02 pm

boglerdude wrote:
Tue Mar 07, 2023 7:44 pm

"We have yet to address one of our biggest vulnerabilities: America’s traditionally loose culture. The decentralized, defiant, do-it-your-own-way norms...America’s disorderly response to the coronavirus reflects our cultural conditioning over the last several hundred years...Tight societies, like China,...have many rules and punishments governing social behavior....Tight rules and order save lives"
https://www.bostonglobe.com/2020/03/13/ ... ighten-up/

https://www.city-journal.org/the-great- ... university

DeSantis '24


Read the article. Do not think I was previously aware of its author: https://en.wikipedia.org/wiki/Heather_Mac_Donald

Certainly a person with strongly held views.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
Maddy
Executive Member
Executive Member
Posts: 1694
Joined: Sun Jun 21, 2015 8:43 am

Re: Socialism - Should we be worried

Post by Maddy » Wed Mar 08, 2023 8:11 am

This is an interesting, and very timely, topic. If you can't muster an opinion, or even a constructive thought about it, then why post at all?

Is this subject so threatening that it must be summarily shut down?
User avatar
Maddy
Executive Member
Executive Member
Posts: 1694
Joined: Sun Jun 21, 2015 8:43 am

Re: Socialism - Should we be worried

Post by Maddy » Wed Mar 08, 2023 10:04 am

jalanlong wrote:
Tue Mar 07, 2023 9:48 am
https://www.collegemedianetwork.com/alm ... socialism/

https://news.gallup.com/poll/257639/fou ... alism.aspx

As a person that is heavily invested in stocks for generational wealth, I will have to admit that the one thing that frightens me most about their future returns is the growing hostility towards business and wealth. I try to tell myself that there has always been a segment of the population that has been anti-wealth (see Huey Long and his Share Our Wealth Plan in the 1930s) but the articles above do show that trend creeping into mainstream thinking. 40% of college students polled think socialism is a good thing. 43% of a Gallup poll of adults think socialism is a good thing compared to 25% back in 1942.

I know those type of questions are up for interpretation. For example, what is socialism to the responder? Is it something as simple as social security or something more radical like a cap on wealth? But still, is this a worry going forward for the profitability of our corporations?
I think you have good reason for concern. The agenda was clear over a decade ago when Obama declared that "You didn't build that." More recently, the World Economic Forum has gone so far as to declare that "You will own nothing." Just about every policy that has been pursued by the present administration revolves, in some manner, around the concept of "equity," which means not only redistribution from the "haves" to the "have nots," but the denial that anything was yours to begin with.

They have a million and one ways of taking away your wealth. They can crash the stock market on a whim, and they can render the dollar worthless. They can run you out of business with mandates and regulations. They can turn your neighborhood into a low-rent ghetto or tax you out of your home outright.

One of the more concerning aspects of central bank digital currencies--which many predict are all but inevitable--is their capacity to be programmed to expire after a certain period of time. That would be the end of generational wealth for all but the Elite, who undoubtedly have figured out some way of excepting themselves from such a draconian situation.

Even under the policies of an administration respectful of property rights, we'd still have to contend with the fact that the entitlement mentality of the large majority of young people these days who have neither the skills or the motivation to accumulate wealth through through hard work and frugality. They are likely to comprise a parasitic class for a long time to come.
User avatar
Xan
Administrator
Administrator
Posts: 4392
Joined: Tue Mar 13, 2012 1:51 pm

Re: Socialism - Should we be worried

Post by Xan » Wed Mar 08, 2023 10:39 am

On the World Economic Forum "own nothing and be happy" quote: I did some digging to try to find the origin of that and what the broader context might be.

I found this interview:
https://www.washingtonexaminer.com/opin ... omic-forum

which included this excerpt:
I don't know if you know the background of that slogan, "You will own nothing and you will be happy." The forum has a blog, which is essentially the opinion section of our website. I think six years or so ago, someone wrote a contribution to that blog that used that line. Sort of controversial, but it was one person's opinion. The point they were making is, as we go more and more into a society of Airbnb and Uber and whatnot, that actually, you don't need to own a car, you can just take Ubers, or you don't need to own a home. I'm not advocating for this. I'm just paraphrasing what the person was saying. So please, I'm not saying this is the forum's policy or perspective. But that individual was simply making the point that as a society, we are greatly evolving. Now, frankly, our opinion section on our website gets a ton of different points of view. But we have never, ever iterated, you will owe nothing and be happy as sort of a forum policy or objective or grand mission. So you're quite right — that has been distorted and taken into places that is, frankly, absurd. At its origins, it was an opinion piece on our website. So you're quite right about the memes, and let me just clarify that because there are other things that are sort of attributed to the forum that were published. The insects, all right, "you will eat insects." Well, somebody wrote an opinion piece on that also. So what should we do? Should we have like the blandest of opinion sections and just talk about the color of the sky? No, let's have a robust and vigorous debate on that opinion page. Nobody at the Times or the Examiner or anyone else [who] publishes an op-ed suddenly gets accused of that being the only policy.

In some corners that slogan is treated as their official position which it seems that it is not.
User avatar
seajay
Executive Member
Executive Member
Posts: 430
Joined: Mon Aug 09, 2021 11:11 am

Re: Socialism - Should we be worried

Post by seajay » Wed Mar 08, 2023 10:55 am

... but aren't many youth (<30 years) more inclined to socialism, that transition to being capitalist (>30 years old) ... once they've accumulated some of their own wealth.
User avatar
seajay
Executive Member
Executive Member
Posts: 430
Joined: Mon Aug 09, 2021 11:11 am

Re: Socialism - Should we be worried

Post by seajay » Wed Mar 08, 2023 11:03 am

Maddy wrote:
Wed Mar 08, 2023 10:04 am
One of the more concerning aspects of central bank digital currencies--which many predict are all but inevitable--is their capacity to be programmed to expire after a certain period of time. That would be the end of generational wealth for all but the Elite, who undoubtedly have figured out some way of excepting themselves from such a draconian situation.
Third in land (and some guns), a third (physical) gold, a third stocks, and that's 2/3rds in-hand.

Swap out the 33% stock for 11% in 3x stock, and rewards tend to be similar whilst having reduced counter party risk to 11%.

When selling gold, sell for bitcoins or whatever alternative you may prefer rather than the central banks digital currency.

It's important to resist the killing off cash, spend it whenever you can rather than touch payments
https://tavexbullion.co.uk/preventing-t ... happening/
User avatar
Maddy
Executive Member
Executive Member
Posts: 1694
Joined: Sun Jun 21, 2015 8:43 am

Re: Socialism - Should we be worried

Post by Maddy » Wed Mar 08, 2023 12:30 pm

Xan wrote:
Wed Mar 08, 2023 10:39 am
On the World Economic Forum "own nothing and be happy" quote: I did some digging to try to find the origin of that and what the broader context might be.
* * *
In some corners that slogan is treated as their official position which it seems that it is not.
Xan, it would be an equally worthwhile effort to take a look at what else the WEF has been saying about its vision for a future--a future in which all resources are controlled and managed by a technologic elite for the benefit of the "greater good." Viewed in that context, it would be very reasonable to infer that Klaus Schwab meant it quite literally when he said that "You will own nothing."
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Socialism - Should we be worried

Post by vnatale » Wed Mar 08, 2023 1:14 pm

Xan wrote:
Wed Mar 08, 2023 10:39 am

On the World Economic Forum "own nothing and be happy" quote: I did some digging to try to find the origin of that and what the broader context might be.

I found this interview:
https://www.washingtonexaminer.com/opin ... omic-forum

which included this excerpt:
I don't know if you know the background of that slogan, "You will own nothing and you will be happy." The forum has a blog, which is essentially the opinion section of our website. I think six years or so ago, someone wrote a contribution to that blog that used that line. Sort of controversial, but it was one person's opinion. The point they were making is, as we go more and more into a society of Airbnb and Uber and whatnot, that actually, you don't need to own a car, you can just take Ubers, or you don't need to own a home. I'm not advocating for this. I'm just paraphrasing what the person was saying. So please, I'm not saying this is the forum's policy or perspective. But that individual was simply making the point that as a society, we are greatly evolving. Now, frankly, our opinion section on our website gets a ton of different points of view. But we have never, ever iterated, you will owe nothing and be happy as sort of a forum policy or objective or grand mission. So you're quite right — that has been distorted and taken into places that is, frankly, absurd. At its origins, it was an opinion piece on our website. So you're quite right about the memes, and let me just clarify that because there are other things that are sort of attributed to the forum that were published. The insects, all right, "you will eat insects." Well, somebody wrote an opinion piece on that also. So what should we do? Should we have like the blandest of opinion sections and just talk about the color of the sky? No, let's have a robust and vigorous debate on that opinion page. Nobody at the Times or the Examiner or anyone else [who] publishes an op-ed suddenly gets accused of that being the only policy.



In some corners that slogan is treated as their official position which it seems that it is not.


Excellent work, Xan! Thanks!
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
Xan
Administrator
Administrator
Posts: 4392
Joined: Tue Mar 13, 2012 1:51 pm

Re: Socialism - Should we be worried

Post by Xan » Wed Mar 08, 2023 1:21 pm

vnatale wrote:
Wed Mar 08, 2023 1:14 pm
Excellent work, Xan! Thanks!

Well... That interview didn't point out that the op-ed was by the founder and chairman of the WEF. It made it sound like the author of the piece was some random schlub, which he isn't.
glennds
Executive Member
Executive Member
Posts: 1265
Joined: Mon Jan 28, 2013 11:24 am

Re: Socialism - Should we be worried

Post by glennds » Wed Mar 08, 2023 1:23 pm

Xan wrote:
Wed Mar 08, 2023 10:39 am
On the World Economic Forum "own nothing and be happy" quote: I did some digging to try to find the origin of that and what the broader context might be.

***

In some corners that slogan is treated as their official position which it seems that it is not.
Thank you for the research. I have heard the quote also, but I thought it mostly referred to changing consumer habits like the quote references i.e. Uber or self driving taxi in lieu of owning a car, renting a house vs owning, even SAAS instead of actually "owning" the software. Some of these changes are socio-demographic.
Some trends make good sense. A car is a depreciating asset that requires fuel, insurance, care, feeding. If you could trade that for low cost of point to point transportation, it might make good sense for many. Plus the reclaimed garage space is a bonus.

I'm not disputing Maddy's interpretation of what the quote means, just saying the consumer habit meaning was my assumption.
glennds
Executive Member
Executive Member
Posts: 1265
Joined: Mon Jan 28, 2013 11:24 am

Re: Socialism - Should we be worried

Post by glennds » Wed Mar 08, 2023 1:25 pm

Maddy wrote:
Wed Mar 08, 2023 10:04 am


One of the more concerning aspects of central bank digital currencies--which many predict are all but inevitable--is their capacity to be programmed to expire after a certain period of time.

That would suck. Use it or lose it perishable money?
glennds
Executive Member
Executive Member
Posts: 1265
Joined: Mon Jan 28, 2013 11:24 am

Re: Socialism - Should we be worried

Post by glennds » Wed Mar 08, 2023 1:28 pm

seajay wrote:
Wed Mar 08, 2023 10:55 am
... but aren't many youth (<30 years) more inclined to socialism, that transition to being capitalist (>30 years old) ... once they've accumulated some of their own wealth.
That's definitely the historical trend. It also spills over into political affiliation, more liberal in youth, more conservative with age.

Either way, it's for the future generations to design the future, not the dinosaurs. I think Thomas Jefferson was a big proponent of that idea, that a future generation should not be encumbered or restricted by the beliefs of their predecessors.
User avatar
Maddy
Executive Member
Executive Member
Posts: 1694
Joined: Sun Jun 21, 2015 8:43 am

Re: Socialism - Should we be worried

Post by Maddy » Wed Mar 08, 2023 1:34 pm

glennds wrote:
Wed Mar 08, 2023 1:23 pm
I have heard the quote also, but I thought it mostly referred to changing consumer habits like the quote references i.e. Uber or self driving taxi in lieu of owning a car, renting a house vs owning, even SAAS instead of actually "owning" the software. Some of these changes are socio-demographic.
Some trends make good sense. A car is a depreciating asset that requires fuel, insurance, care, feeding. If you could trade that for low cost of point to point transportation, it might make good sense for many. Plus the reclaimed garage space is a bonus.

I'm not disputing Maddy's interpretation of what the quote means, just saying the consumer habit meaning was my assumption.
And I'm not disputing that self-driving taxis and leased appliances may indeed be a part of our future. The $500 question is whether you'll have a choice.

Without that choice, all that generational wealth you've built up doesn't count for much.
User avatar
Maddy
Executive Member
Executive Member
Posts: 1694
Joined: Sun Jun 21, 2015 8:43 am

Re: Socialism - Should we be worried

Post by Maddy » Wed Mar 08, 2023 1:43 pm

glennds wrote:
Wed Mar 08, 2023 1:28 pm

Either way, it's for the future generations to design the future, not the dinosaurs. I think Thomas Jefferson was a big proponent of that idea, that a future generation should not be encumbered or restricted by the beliefs of their predecessors.
Great. By the look of things, we won't be able to count on garbage pick-up.
User avatar
jalanlong
Executive Member
Executive Member
Posts: 829
Joined: Mon Jul 01, 2019 7:30 am

Re: Socialism - Should we be worried

Post by jalanlong » Wed Mar 08, 2023 5:45 pm

Maddy wrote:
Wed Mar 08, 2023 10:04 am


One of the more concerning aspects of central bank digital currencies--which many predict are all but inevitable--is their capacity to be programmed to expire after a certain period of time. That would be the end of generational wealth for all but the Elite, who undoubtedly have figured out some way of excepting themselves from such a draconian situation.
I have heard the predictions and warnings about digital bank currencies. But from what I see that will be a long, long time coming. I haven't dealt with cash or checks in years. But I am shocked whenever I go thru a drive-thru fast food place how many people around me are paying with cash and digging thru their cars for exact change while I ordered on the app and paid with Apple Pay. In my job I deal with a lot of title companies and they still all send checks out instead of wires and ACHs. The bank I work for still has a LOT of customers who refuse direct deposit because they do not trust it. So moving everyone to Digital Currencies is many generations away I feel.
User avatar
jalanlong
Executive Member
Executive Member
Posts: 829
Joined: Mon Jul 01, 2019 7:30 am

Re: Socialism - Should we be worried

Post by jalanlong » Wed Mar 08, 2023 5:50 pm

glennds wrote:
Wed Mar 08, 2023 1:25 pm
Maddy wrote:
Wed Mar 08, 2023 10:04 am


One of the more concerning aspects of central bank digital currencies--which many predict are all but inevitable--is their capacity to be programmed to expire after a certain period of time.

That would suck. Use it or lose it perishable money?
I have read of implications far worse than that. For example, is the country having supply issues? They can limit you to how much you spend at the grocery store so that you only get your fair share. For the benefit of climate change they can limit your monthly spending on fuel. Take part in a protest at the White House? Consider your money frozen!
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Socialism - Should we be worried

Post by vnatale » Wed Mar 08, 2023 6:05 pm

jalanlong wrote:
Wed Mar 08, 2023 5:45 pm

Maddy wrote:
Wed Mar 08, 2023 10:04 am



One of the more concerning aspects of central bank digital currencies--which many predict are all but inevitable--is their capacity to be programmed to expire after a certain period of time. That would be the end of generational wealth for all but the Elite, who undoubtedly have figured out some way of excepting themselves from such a draconian situation.



I have heard the predictions and warnings about digital bank currencies. But from what I see that will be a long, long time coming. I haven't dealt with cash or checks in years. But I am shocked whenever I go thru a drive-thru fast food place how many people around me are paying with cash and digging thru their cars for exact change while I ordered on the app and paid with Apple Pay. In my job I deal with a lot of title companies and they still all send checks out instead of wires and ACHs. The bank I work for still has a LOT of customers who refuse direct deposit because they do not trust it. So moving everyone to Digital Currencies is many generations away I feel.


I was quite surprised to find out that when I spent some cash a few weeks ago that it was the first time I'd spent any cash since last fall.

In my recent experience with payroll for two organizations it's just about 100% direct deposit for all employees. No resistance.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
jalanlong
Executive Member
Executive Member
Posts: 829
Joined: Mon Jul 01, 2019 7:30 am

Re: Socialism - Should we be worried

Post by jalanlong » Wed Mar 08, 2023 6:28 pm

Maddy wrote:
Wed Mar 08, 2023 10:04 am

They have a million and one ways of taking away your wealth. They can crash the stock market on a whim,
Speaking of this, I owned ADR shares in Russian oil company Lukoil for several years. I found it sold at much lower multiples than oil companies in the West and I assumed that the risk would be from internal issues with the Russian government. Then last year Biden signed an executive order prohibiting US citizens from owning Russian stock. Fidelity froze my stock from being sold, the ADR company is still working on getting the shares liquidated and those funds have been frozen in my account for over a year with no end in sight!
User avatar
MarketIfTouched
Associate Member
Associate Member
Posts: 34
Joined: Sun Sep 09, 2018 4:46 pm

Re: Socialism - Should we be worried

Post by MarketIfTouched » Wed Mar 08, 2023 9:27 pm

I am not a worrier by nature, but lately I too have been concerned about creeping socialism.

I first started to worry when people in our forum stated that they will be voting for Joe Biden for President.

I had assumed that anyone participating in the forum was interested in profitable businesses, free markets, and efficient investments.

Democratic socialist policies stand in the way of profitable businesses, free markets, and efficient investments.

President Biden articulated that a vote for him would be a vote to shut down the Keystone Pipeline.

Clearly a poor business/investment decision; and horrible for those working in the oil industry.

And yet, investors here stated that they would be voting for a democratic socialist for president.

If members of this forum do not support free enterprise, who will?

So yes, I am concerned about this topic too. Many thanks to the thread starter, and those who have added their thoughts.
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

Re: Socialism - Should we be worried

Post by vnatale » Wed Mar 08, 2023 10:03 pm

MarketIfTouched wrote:
Wed Mar 08, 2023 9:27 pm

I am not a worrier by nature, but lately I too have been concerned about creeping socialism.

I first started to worry when people in our forum stated that they will be voting for Joe Biden for President.

I had assumed that anyone participating in the forum was interested in profitable businesses, free markets, and efficient investments.

Democratic socialist policies stand in the way of profitable businesses, free markets, and efficient investments.

President Biden articulated that a vote for him would be a vote to shut down the Keystone Pipeline.

Clearly a poor business/investment decision; and horrible for those working in the oil industry.

And yet, investors here stated that they would be voting for a democratic socialist for president.

If members of this forum do not support free enterprise, who will?

So yes, I am concerned about this topic too. Many thanks to the thread starter, and those who have added their thoughts.


Joe Biden would have never have won the election if Trump had not been such a wretched president.

Just as many voted for Trump the first time viewing him as an alternative to the existing political system ... by the end of Trump's term... many who had voted for him said, "Not him again!" and had only one other alternative - Biden.

It took an extremely poor Republican presidential candidate for Biden to get elected.

I am still somewhat shocked that with all the eminently qualified people in our country of over 300 million people that in the last 25 years 1) Obama's predecessor, 2) Trump and 3) Biden have been elected president.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
Dieter
Executive Member
Executive Member
Posts: 655
Joined: Sat Sep 01, 2012 10:51 am

Re: Socialism - Should we be worried

Post by Dieter » Wed Mar 08, 2023 10:11 pm

Given trends in the economy for the last forty years, can’t say I’m surprised
User avatar
Maddy
Executive Member
Executive Member
Posts: 1694
Joined: Sun Jun 21, 2015 8:43 am

Re: Socialism - Should we be worried

Post by Maddy » Thu Mar 09, 2023 7:55 am

Another factor not yet mentioned is the decline of the rule of law. You can no longer take a case to court and predict, within a reasonable margin of certainty, how it's going to come out because it's all arbitrary. The result is that investors and businesspeople cannot anticipate the consequences of their decisions. It's all a huge crap shoot.

My own solution is to just aim for the mean. (Yes, I know the term is actually "median," but the expression is what it is.) I think the writing is on the wall that the wealthy (including the traditional middle-class) are going to increasingly vilified and made to do penance for whatever inequality happens to be the focus of concern. We saw what happened to landlords during the CoVID scare. An unelected agency whose delegated powers were reserved to matters of public health unilaterally shut down their stream of income, making them the de facto parents of people who failed to pay their rent. This should be a huge wake-up call to anyone that thinks they are playing by the traditional set of rules where the industrious are rewarded and the improvident are allowed to fail.

I have no doubt that the Elite, as their own special class, have designed a way of preserving their wealth, but when their tools include the ability to manipulate markets and to bribe legislators, you and I don't have much chance of emulating what they're doing.
glennds
Executive Member
Executive Member
Posts: 1265
Joined: Mon Jan 28, 2013 11:24 am

Re: Socialism - Should we be worried

Post by glennds » Thu Mar 09, 2023 10:06 am

Maddy wrote:
Thu Mar 09, 2023 7:55 am
I think the writing is on the wall that the wealthy (including the traditional middle-class) are going to increasingly vilified and made to do penance for whatever inequality happens to be the focus of concern.
I definitely agree it's not justified or helpful to villianize the wealthy. But I wonder how large a percentage of the traditional middle-class are now "wealthy"? The issue I see is the disappearance of the middle class and the widening polarization between haves and have nots. For every person that used to be middle class that is now wealthy, I would bet there are two that went the other way.

If the rising tide had floated all boats, there might not be the dissension we see or the need for this thread. But instead we have super winners and losers.

The group I empathize with is young people trying to get a foothold in today's world. To my eye it is considerably harder than it was when I was getting started in the 80s. Unless a young person is fortunate enough to be in line to inherit a bunch of wealth, they are in for a much steeper climb than I had*. My starting salary out of college with an MBA was $38k/year and my first house was purchased for $95k so about 2.5x. Today it would be closer to 8x, maybe more.

So how do we solve that problem? And if we don't, how can you blame the younger generation and other members of the socio-economic underclass for protesting when there are wealthy elite flaunting extreme wealth everywhere you look? Or is this even a problem?

*BTW- even if a younger person was in line for an inheritance, with people living longer and a health care system that is superbly capable of draining a life savings, I'm not so sure that inheritance is something to bank on. And getting an inheritance when you're 60 is too late to help you raise a family or ease most of life's burdens.
Post Reply