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Steve Wynn's take on the world

Discussion in 'Sports and News' started by The Big Ragu, Jul 19, 2011.

  1. 93Devil

    93Devil Well-Known Member

    This isn't about gambling.

    It's about a rich guy bitching that he does not have enough money.
  2. LongTimeListener

    LongTimeListener Well-Known Member

    I wonder how much of the drag on U.S. profits is related to Wynn building multiple phallic symbols in honor of himself at a time when Vegas was clearly pushing the edges and getting too big already. No, that couldn't have anything to do with it.
  3. poindexter

    poindexter Well-Known Member

    The average joe has a 401k.

    An actual real defined benefit pension plan? Like your dad had at GM? Pretty much state employees, that's all.
  4. poindexter

    poindexter Well-Known Member

    93devil, you don't have a 401k?
  5. YankeeFan

    YankeeFan Well-Known Member

    That chart is just mutual funds. It doesn't include pension funds.

    Lots of Americans are invested in the market.

    That's a fact.
    Last edited by a moderator: Dec 15, 2014
  6. Boom_70

    Boom_70 Well-Known Member

    The money coming in from the "average joe" has been the engine propelling the Dow for the past 30 years.
    Last edited by a moderator: Dec 15, 2014
  7. 93Devil

    93Devil Well-Known Member

    I am part of a retirement system set up by Virginia that operates outside of Social Security. My wife has a 401K and we own three properties, but we both have Master's Degrees. About 8% of all Americans have graduate degrees and 38% have Bachelor Degrees. Those are not Average Joes. They are the minority.

    An Average Joe, to me, are the people working at the grocery store, at the Home Depot, running their own small business, driving a bus, in the military, etc...
  8. 93Devil

    93Devil Well-Known Member


    However, only 21 million (less than 20%) owned individual stocks outside an employee sponsored plan.

    Does this sound right?

    So about 15% of working adults own individual stocks, right? And of that, how many also own mutual funds?
  9. poindexter

    poindexter Well-Known Member

    The military offers a version of the 401k, my son had it when he was in the marines. Still keeps it.

    My dumbass 21 year old nephew works 10 hours a week at a fast food joint. He got a few hundred dollars saved up from grandparents, etc. I helped him open an ameritrade account last month. He bought 2 stocks, Proctor and Gamble and Best Buy.

    Sorry, but if you don't own stocks but want to, its a YOU problem, not a system problem.
  10. trifectarich

    trifectarich Well-Known Member

    True. But if you bought the stock in the fall of '08, you haven't made a dime.
  11. Ben_Hecht

    Ben_Hecht Active Member

    He supports Harry, because of Harry's position and what he can do for Nevada -- and for
    what Harry can prevent being dne TO Nevada.

    Steve's built some good joints, but not all of his ideas have been good ones (Treasure Island for families . . . yeah, that worked out . . ), and praising Communist China's so-ca;lled friendly stance towards business is but an uncoimfortably-close step towards endorsing meaningful portions of that regime, and that's reprehensible.
  12. poindexter

    poindexter Well-Known Member


    Opening of a new casino in Chicago this week is so strong, they ask people stay away.

    These are average joes.

    If they don't own stocks, but want to, its a them problem, not my fault.

    I hate those kind of stats that Devil93 throws up there. "X% of people don't own stocks"...
    There is a large percentage of Americans who won't do a damn thing but stuff themselves with Cheetos unless you hold them by the hand.

    Last edited by a moderator: Dec 15, 2014
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