"The World" came to Monterey Bay this week, a massive cruise ship that sells residential suites ranging from a $1 million dollar studio apartment to more lavish accommodations in the $7.5 million range. The units are the permanent living space for the obviously wealthy folks aboard and, quite literally "The World," (the ship's name), is their playground. The vessel sports two restaurants, a study, elegant spa, gym, pool deck, plaza with shopping, and it moves from port to port, dropping anchor all over the globe. Think of it as one long vacation, a lifestyle of perpetual tourism, dining, shopping, lounging, and I suppose the occasional business phone call to a broker to keep the earnings from vaporware stocks and bonds flowing.
Operated by a Miami based company called "ResidenSea," the ship is billed as: "the only private community at sea offering residential options and rental travel experiences to the discriminating traveler." And I imagine the word "discriminating" has dual usage here, because Average Joe isn't likely to be found anywhere aboard, unless he works on the kitchen staff.
There is something just a tad unsettling about this obvious display of wealth and privilege in a world where so many go hungry each day, and scratch out a bare minimal existence. Yet it is a microcosm of how the wealthy insulate themselves from the rest of the "real" world with their millions. Some may say they've earned such a life, but let's face it, money begets money in this world, and much of the wealth that has come to the upper crust of our society was largely unearned. Consider the big Wall street insiders, men who were paid more money in a single month than the average American could make in decades, and all for basically bankrupting the institutions they "served" by setting up enormous derivatives trades that are now one huge financial albatross.
The Rich Dads on "The World" (average age 52 aboard the vessel), spent 2 days in Monterey Bay and are now heading north to San Francisco and ports 'o call further up the coast. They are undoubtedly oblivious to the housing bust, recession, record breaking unemployment, and all the rest of our collective pain as they go merrily on their cruise, where they have been living and playing aboard their ship since 2002. And all across America you will find enclaves of wealth like this in secluded, exclusive locations where the wealthy 1%, who own just about everything frolic and dine and play.
The top 1% now own over 42% of all wealth in the US.
The next 4% own an additional 27%, which means the top 5% hold 69% of the bucks.
The next 5% hold 12% and the next 10% hold another12%
This means the rest of us, 80% of the population in the US, are left with just 6% of the wealth...and we pay most of that back to the Rich Dads in rent, mortgage payments and loan fees. See how capitalism works? The old saying that the rich get richer and the poor stay poor is so very true.
Operated by a Miami based company called "ResidenSea," the ship is billed as: "the only private community at sea offering residential options and rental travel experiences to the discriminating traveler." And I imagine the word "discriminating" has dual usage here, because Average Joe isn't likely to be found anywhere aboard, unless he works on the kitchen staff.
There is something just a tad unsettling about this obvious display of wealth and privilege in a world where so many go hungry each day, and scratch out a bare minimal existence. Yet it is a microcosm of how the wealthy insulate themselves from the rest of the "real" world with their millions. Some may say they've earned such a life, but let's face it, money begets money in this world, and much of the wealth that has come to the upper crust of our society was largely unearned. Consider the big Wall street insiders, men who were paid more money in a single month than the average American could make in decades, and all for basically bankrupting the institutions they "served" by setting up enormous derivatives trades that are now one huge financial albatross.
The Rich Dads on "The World" (average age 52 aboard the vessel), spent 2 days in Monterey Bay and are now heading north to San Francisco and ports 'o call further up the coast. They are undoubtedly oblivious to the housing bust, recession, record breaking unemployment, and all the rest of our collective pain as they go merrily on their cruise, where they have been living and playing aboard their ship since 2002. And all across America you will find enclaves of wealth like this in secluded, exclusive locations where the wealthy 1%, who own just about everything frolic and dine and play.
The top 1% now own over 42% of all wealth in the US.
The next 4% own an additional 27%, which means the top 5% hold 69% of the bucks.
The next 5% hold 12% and the next 10% hold another12%
This means the rest of us, 80% of the population in the US, are left with just 6% of the wealth...and we pay most of that back to the Rich Dads in rent, mortgage payments and loan fees. See how capitalism works? The old saying that the rich get richer and the poor stay poor is so very true.
