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>I can't find numbers on how many Americans own homes, but 67% of homes are occupied by their owner ...who has usually taken out a huge loan for the privilege,

>I can't find numbers on how many Americans own homes, but 67% of homes are occupied by their owner ...who has usually taken out a huge loan for the privilege, providing a stream of rents to the, uh, real aristocracy. >52% own stocks. Probably less than 1% could actually live off what they own, however, and rely primarily upon their labor for their income. >The means to success seem pretty accessible based on these numbers. Yes, well you intentionally made these numbers misleading didn't you? You didn't count the number of Americans whose incomes are derived wholly or nearly wholly from rents. You counted the proportion of Americans who owned at least one share. As for owning one's home... were medieval peasants who owned a sliver of land aristocracy? According to you it sounds like it.

yummyfajitas 12y ago
were medieval peasants who owned a sliver of land aristocracy? According to you it sounds like it. I find the whole concept of "aristocracy" as applied to the US nonsensical. Aristocracy is a form of government (rule by "the best"), and we simply don't have it. The fact that your mortgage payments go to a servicer who funnels it to a CDO who funnels it to Calpers doesn't mean that members of Calpers are aristocratic rulers of the US. And let me remind you that the mortgage holders don't necessarily own any land.
- crdoconnor 12y ago
  >I find the whole concept of "aristocracy" as applied to the US nonsensical. Of course you do. >Aristocracy is a form of government (rule by "the best"), and we simply don't have it. The fact that your mortgage payments go to a servicer who funnels it to a CDO who funnels it to Calpers doesn't mean that members of Calpers are aristocratic rulers of the US. Nope, the fact that the 1% own vastly more than Calpers or any other pension fund does mean that, though.

yummyfajitas 12y ago

were medieval peasants who owned a sliver of land aristocracy? According to you it sounds like it. I find the whole concept of "aristocracy" as applied to the US nonsensical. Aristocracy is a form of government (rule by "the best"), and we simply don't have it. The fact that your mortgage payments go to a servicer who funnels it to a CDO who funnels it to Calpers doesn't mean that members of Calpers are aristocratic rulers of the US. And let me remind you that the mortgage holders don't necessarily own any land.

crdoconnor 12y ago
>I find the whole concept of "aristocracy" as applied to the US nonsensical. Of course you do. >Aristocracy is a form of government (rule by "the best"), and we simply don't have it. The fact that your mortgage payments go to a servicer who funnels it to a CDO who funnels it to Calpers doesn't mean that members of Calpers are aristocratic rulers of the US. Nope, the fact that the 1% own vastly more than Calpers or any other pension fund does mean that, though.