Ask HN: What's your opinion of the "99%" issue?

https://news.ycombinator.com/item?id=3074306

by orijing • 15 years ago

6 9 15 years ago

news.ycombinator.com

Reddit is aflame with shared outrage. HN has a somewhat different population. What do you all think about it?

Should people just pull themselves up by their bootstraps and stop leaning on others' generosity, or are there serious structural issues with the "American dream"? What can we do about it, if you think it's wrong?

Sure, we can all think of ways where our governments have failed us, but is there something extraordinary to merit such a strong opposition?

I'm extremely curious for all your opinions. Let this be an open discussion: PLEASE be civil and don't downvote comments that you don't agree with.

Thanks! Looking forward to a lively discussion.

cpt1138• 15 years ago

I keep thinking about this: http://www.miniature-earth.com/

If you have a computer, a roof over your head and enough to eat, you're in the top 3% of the world.

bluedanieru• 15 years ago

And if you're alive today regardless of where you live, you're probably better off than most humans since the invention of agriculture. So what?

The idea that it's only absolute wealth that should matter completely misses the point. That the typical American or European, et al, literally lives like a king (or better) is beside the point. The economy is not a zero-sum game, sure, but politics certainly is, and unfortunately nothing predicts your political power better than the wealth you've accumulated. So the average person in the first world may live like a king, sure, but he has the influence of a peasant or worse. There is more virtue to an egalitarian society than merely a sense of economic or social justice. They are healthier, more stable, and more democratic.

luser0012• 15 years ago

Am I understanding correctly that you consider reading about the occupy wall st. movement an "ordeal"?

If so, I think you tipped your hand and started on an (IMHO) uncivil note by calling it "ordeal".

Anyway, FWIW, I think it's about time Americans woke up to Wall St's rigging of the game in its own favour. When an ordinary homeowner is foreclosed, it's a teaching moment about "personal responsiblity", but banks should be bailed out because ...?

About the only good thing I can say about Wall St. is that entry to the top echelons doesn't seem to be hereditary.

MrWestley3• 15 years ago

I can say that I have mixed feelings about it because it is a very grey area. For a lot of people it is about personal responsibility. There were a LOT of people that knew better but instead choose to believe what the "big money" was saying. The catch to that is they owed it to themselves to look closer at their personal situation and asses if they could afford what they were told they could. I myself paid $215000 for a house that is now worth about $140000. If I didn't inform myself before buying the house I could have lost it. Instead I have put myself in the best situation I can. I position myself to never be "upsidedown" just by being careful. I didn't do things that other people can't. I just did my homework. Does it bother me that my house lost a tremendous amount of its value? Hell yes, but I planned for that possiblity.

My point is that for a lot of people they could have been more careful. The other side is that a lot people didn't have the means to know better. They trusted what was happening around them and it cost them. Is that there fault? Maybe, but I fell like saying they shouldn't have trusted anyone is a worse solution.

luser0012• 15 years ago

Am I to understand that you're ok with you and others in your position not being bailed out, but do think that the big banks should be bailed out?

Don't you think the same yardstick that you apply to yourself and others like you should also be used for the big banks.

FWIW, my two cents is that neither individuals nor big banks should be bailed out.

Sorry about the late response. :) Maybe you'll see this.

dools2• 15 years ago

What's a 99% issue?

MrWestley3• 15 years ago

It's when 99% of people don't use google to look up something that can be answered in 10 seconds. :)

dools2• 15 years ago

I looked up 99% issue and what is the 99% issue which returned nothing meaningful at the time (it does now)

Ask HN: What's your opinion of the "99%" issue?

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