Rich, 'Paralyzed' by Fear, Lock Up Economy

[dmcowen674]

7-31-2012

http://finance.yahoo.com/news/paral...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Rich, 'Paralyzed' by Fear, Lock Up Economy

Sergio Ermotti, the CEO of the Swiss bank UBS, has peered into the minds of his wealthy clients - and he doesn't like what he sees.


"Today our clients are paralyzed by their fear of losing their wealth in these volatile markets," Ermotti told investors and reporters this morning. "As a result they continue to increase their allocation to cash and other safe assets."



The rich are especially worried about Europe. Nearly one in four millionaires surveyed are avoiding individual stocks and mutual funds with a global exposure, and more than 18 percent say they are avoiding fixed-income products from other countries.


But they are also worried about the U.S. economy, the fiscal cliff, government debt and the prospects for their own companies.


The Thomson Reuters/University of Michigan Survey of Consumers showed confidence index among those who make more than $75,000 annually has fallen 20 percent since last year.


What would it take to lift the wealthy from their paralysis? Basically, a robust stock rally. And for that to happen we need a grand solution in Europe, a decline in unemployment, removal of the fiscal cliff and decrease in government debt.


In other words, don't count on it. The wealthy, rather than leading the recovery, may be dragging it down.

 

[dmcowen674]

The call for them to make like a tree and leave is getting louder everyday.

 

[First]

The call for them to make like a tree and leave is getting louder everyday.

lol, you're clueless as shit.

 

[nehalem256]

How are the rich any different that anyone else?

I mean other than the fact that spending money on food is not exactly a choice.

 

[Matt1970]

lol, you're clueless as shit.

Don't insult shit. In his world of fairies and unicorns you can get rid of all Corporations and rich people and some how magicly there will still be money to distribute to the needy.

 

[dmcowen674]

Originally Posted by dmcowen674
The call for them to make like a tree and leave is getting louder everyday.

lol, you're clueless as shit.

Hit a nerve eh?

So when ya leaving?

 

[trenchfoot]

How are the rich any different that anyone else?

I mean other than the fact that spending money on food is not exactly a choice.

They're getting richer by the minute while everyone else is going in the opposite direction.

 

[Lithium381]

Okay dave i'll play. what exactly is the endgame once all of the rich leave and corporation to go overseas? what happens then? utopia?

 

[EagleKeeper]

Okay dave i'll play. what exactly is the endgame once all of the rich leave and corporation to go overseas? what happens then? utopia?

Dave: what will happen to the work force that you despise.
you want the companies to leave/go belly up.

As stated above; then what; You expect the government to step in and cover everyone's butts?

 

[Jaskalas]

The call for them to make like a tree and leave is getting louder everyday.

Help us government, the rich have money!

 

[EagleKeeper]

The gist of the article is that until the government instills confidence of itself into the private sector, there will be no strong recovery.

Sputtering around until they feel confident that the government has its ducks in order.

government needs to lead or get out of the way; but stop waffling

 

[nehalem256]

They're getting richer by the minute while everyone else is going in the opposite direction.

And they are getting richer by not investing their money how?

 

[Matt1970]

And they are getting richer by not investing their money how?

And by getting rid of jobs ?

 

[EagleKeeper]

They're getting richer by the minute while everyone else is going in the opposite direction.

where is that money going - into the mattress.

It gets pumped back into the economy via loans to other businesses and/or wasted by purchasing government bonds to allow waste.

 

[cybrsage]

I sense that dmcowen is jealous.

 

[nextJin]

It's all about market stability, when the government makes it difficult to project even 6 months out your not going to see much of a recovery.

Harsh regulations can be passed off to the consumers, the chaos which is the American economy (and world economy) can't.

 

[Matt1970]

Hey Dumbass, if they are out of the country they really won't be investing in the US economy.

 

[dmcowen674]

Hey Dumbass,

if they are out of the country they really won't be investing in the US economy.

Hey Dumbass look in the mirror.

NewsFlash, they aren't investing in the U.S. economy anyway.

See thread on 21 $Trillion hidden in offshore accounts.

 

[FerrelGeek]

Dave thinks that jobs are provided by people who live on park benches and carry 'will work for booze' signs.

 

[FerrelGeek]

Hey Dumbass look in the mirror.

NewsFlash, they aren't investing in the U.S. economy anyway.

See thread on 21 $Trillion hidden in offshore accounts.

Here's a hint, son. They're hiding their money so that the .gov won't confiscate it to buy 5 more minutes of their insane / unsustainable spending.

 

[Pr0d1gy]

Economy headed for another crash.

Right wing supporting "gun control" (i.e. disarming the nation)

http://www.foxnews.com/politics/201...or-gun-control-legislation/-+Politics+-+Text)

http://www.informationliberation.com/?id=40321&comments=0

http://www.unelected.org/republican-chris-christie-supports-gun-control

Rich leaving the country and not pushing the economy.

Russia threatening to nuke us.

Where is this all heading?

 

[Matt1970]

Hey Dumbass look in the mirror.

NewsFlash, they aren't investing in the U.S. economy anyway.

See thread on 21 $Trillion hidden in offshore accounts.

So kicking them out of the country will help? You really are clueless.
There are plenty of countries that don't have super rich and coporations like we have. You are welcome to move there.

 

[manimal]

sorry. uncertainty arguments have been walked out every election since the beginning of time. Things always change. Business's dont like being told what to do. film at 11....

 

[spidey07]

As long as Obama has his "boot on the neck" of American business and industry, it will only get worse. Just listen to all the businessmen saying he's what's wrong with the economy, that his administration is purposefully stifling growth. Remember when I told you everybody was going to hold onto their wallets when he got elected 4 years ago? Gee, everybody held onto their wallet to weather the obama storm.

November is coming, he MUST go if we are to survive.

NO MORE!
NOBAMA!
NOVEMBER!!!!!!

 

[EagleKeeper]

Hey Dumbass look in the mirror.

NewsFlash, they aren't investing in the U.S. economy anyway.

See thread on 21 $Trillion hidden in offshore accounts.

Is that US people or world wide?
139 countries are affected. US wealth is not the only one.