Bill O'Reilly: 50% of Americans "Want Stuff"

[nobunnyclue]

21. So let's see that huge segment of consumers ust stop buying ...

... "stuff". You'll see these guys then complain that all those minorities are undermining the economy because they aren't spending and are "putting themselves first" instead of supporting US retail.

The American economy has survived on the back of over consumption for years. Whether it is a minority burger flipper wearing $200 NIKE's, or a mega-millionaire buying up real estate like his greenbacks are monopoly money, it's the same idea. Only the first one just wants to get RESPECT in a culture of tangible status symbols, is happy with his stuff until the next "must have hip thing" comes along.

But the latter wants to consume in a different way - like a game of monopoly, he wants to be there first, then earn rents on non-productive activity simply by virtue of "ownership". Buy low, sell high, charge more than you paid.

That's not to say there aren't wealthy people / corporations with resources making REAL investments, but if anyone was paying attention in economics 101, rent earning behavior is NOT a real investment.