A compilation of articles and videos regarding income inequality in the United States

Any CEO that makes millions is taking away millions from the company. That money can be put into new machines, new hires, employee education, etc...

Larry Ellison did start Oracle, so much of his wealth may be in stock options. I tend to like founders who run their companies as they are likely to care about it and not do a slash and sell.
 
Study Finds Only 28 Percent of Millionaires Think They're Rich

If you had investments worth a million dollars, would you consider yourself rich? How about $5 million? Well, hold on to your wallet because a new study has found that the majority of millionaires don't consider themselves rich.

According to a study from investment bank UBS, entitled "What is Wealthy?," 40 percent of those with $5 million in investable assets said they didn't feel they were rich. And only 28 percent of investors who had between $1 and $5 million in investable assets viewed themselves as rich.

"To us, the surprise was that that many people with $1 million or more did not consider themselves wealthy," said Emily Pachuta, head of investor insights at UBS Wealth Management Americas. "We think it shows a very interesting mindset shift. People have certainly experienced a shock from the volatility of the market, and they are very aware that it takes a significant amount of money to have that dual feeling of having enough money and no financial constraints."

According to the opt-in, online survey of 4,450 Americans ages 25 plus with a minimum of at least $250,000 in investable assets (half with at least $1 million in investable assets), 50 percent of investors define wealth as "having no financial constraints on what they do." However, although the $5 million-plus investors are twice as likely to feel wealthy as investors with $1 million to $5 million in assets, only 64 percent of the former and 62 percent of the latter felt confident that they would achieve their goals.
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That is just a snip of the article. Here is the link to the study.

http://www.ubs.com/content/dam/WealthManagementAmericas/documents/investor-watch-3Q2013-report.pdf
 
It really is an interesting question, what defines "rich"? Is it being a certain amount wealthier than the average? Having no financial constraints? How does the local cost of living play in?

I think most people would consider any level of millionaire as rich, and they probably are, but even with $5m in investments, you have to manage your money carefully if you want it to carry you through life. Also consider how old these people are. A 20-year-old with $5m cannot live lavishly on just that money if they want to live off it (though it still allows them $100k/year for 50 years, which is plenty), whereas a 65-year-old can spend without much concern.

But more on point, yea I think these millionaires have very skewed views. Perhaps it sheds light on why some people are so against estate taxes and higher capital gains taxes.
 
GRtak said:
That is just a snip of the article. Here is the link to the study.

http://www.ubs.com/content/dam/WealthManagementAmericas/documents/investor-watch-3Q2013-report.pdf
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What's missing from that study is the context of that question against location and culture. I can easily understand why an individual in with a net worth greater than $1 million wouldn't consider themselves rich in certain parts of the world (NYC, Chicago, LA, SF, D.C., London, Paris, etc.). Hell, you can barely raise a family comfortably with that kind of money.

Edit: saw that the full article touched upon this.
 
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GRtak said:
The Mystery Of $600 Million Traded In The Blink Of An Eye
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This sort of stuff has happened before, I guess this is someone gambling on that move by the FED with a set order on announcement time and processing that order took 7ms. Basically there is a lot of liquidity in the market around big announcements, because longer term investors react to the FED and buy or sell at that time. Short-term traders and market makers have plenty of bids and offers in the market and will pull the 'wrong' ones after the announcement. In the hectic after the news breaks, they hope on someones else's mistake. Here they got 'screwed' a little. :dunno:
I remember some investigation into the same behaviour in future markets when non-farm payrolls comes out, it turned out just some clever guy predicting US employment figures correctly and betting on it.
 
 
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