Faulty. . .

. . . perception

(from http://www.nbcnews.com/business/economy/most-millionaires-think-they-are-middle-class-cnbc-poll-shows-n354766)
". . . A majority of millionaires polled describe themselves as middle class or upper middle class despite being among the wealthiest 10 percent of Americans, according to the results of the third CNBC Millionaire Survey. Fully 44 percent described themselves as middle class, and 40 percent said they were upper middle class. Only 4 percent described themselves as wealthy or rich, and 5 percent described themselves as upper class. Even those Americans worth $5 million or more—among the wealthiest 5 percent—still think of themselves as more middle class than wealthy. According to the survey, 49 percent of those worth $5 million or more define themselves as upper middle class, while 23 percent define themselves as middle class. Only 11 percent of the $5-million-plus millionaires define themselves as rich or wealthy. Wealth experts say the findings stem partly from the psychology of today's wealthy and partly from the growing economic divide between the super rich and the merely wealthy. . ."

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Were The Tables . . .

. . . turned. . .

. . . how would we, in America, handle such wealth? . . .


(from http://www.nbcnews.com/business/norway-everyone-now-millionaire-thanks-oil-2D11884040)
Everyone in Norway became a theoretical millionaire on Wednesday in a milestone for the world's biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices.

A preliminary counter on the website of the central bank, which manages the fund, rose to 5.11 trillion crowns ($828.66 billion), fractionally more than a million times Norway's most recent official population estimate of 5,096,300.

It was the first time it reached the equivalent of a million crowns each, central bank spokesman Thomas Sevang said.

Set up in 1990, the fund owns around 1 percent of the world's stocks, as well as bonds and real estate from London to Boston, making the Nordic nation an exception when others are struggling under a mountain of debts.

Not that Norwegians will be able to access or spend the money, squirreled away for a rainy day for them and future generations. Norway has resisted the temptation to splurge all the windfall since striking oil in the North Sea in 1969.

Norway has sought to avoid the boom and bust cycle by investing the cash abroad, rather than at home. Governments can spend 4 percent of the fund in Norway each year, slightly more than the annual return on investment. . .

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Grass. . .

 

. . . growing two feet high
Casting awful shadows
Bicycles, cupboards all awry
Pieces of linoleum pie flash by

His family had nothing to say
So embarrassed
Helpless too
What makes a man turn out this way
Can he change or is this how he'll stay

There's just no talking to the junk man
There's just no talking to the junk man
With shelves and pottery stacked to the sky
He won the lottery back in 05
Now he's a millionaire
But he can't find anything
In all the junk

The neighbors don't know what to do
They've got visions of a jungle
No one thought they'd see the neighborhood
In this state
You know this can't be good

There's just no talking to the junk man
There's just no talking to the junk man
With shelves and pottery stacked to the sky
He won the lottery back in 05
Now he's a millionaire
But he can't find anything
In all the junk

The Junkman
©2009 Raymond M. Jozwiak

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AMBIENCE & WINE

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