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But that's not going to be the case -- -- back down next guest predicts there will be more self made a million as emerging in the next five years more than ever in the history.
Steve save all the all the all of how rich people think joins us right now.
-- first -- -- Steve let's get to the basic premise via the rich average time to prosperity.
Middle class people basically losing ground in terms of purchasing power public you say the middle class is gonna catch up.
The vault ahead with lots of new million as in the next five years how -- -- gonna happen -- Well as you know that the middle class says most of their of their wealth tied up in the equity of their homes which is now gone.
And I think that that I think they're gonna learn events I think we've got us -- teaching people.
That homes are not an investment it's not a piggy bank it's it's an expense with maintenance and renovations and taxes and all kinds of different things that bad come what expense is to have that go without come owning a home.
So I think that people are gonna have to turn toward entrepreneurship.
The way America was really builds.
Toward starting a small business toward maybe being injured -- -- is going to the boss and saying hey I.
I'd like more responsibility I need to make more money I've lost a lot of my nest egg and I think that's why we're gonna see the while bill.
Well I -- I see appoints Steve but I don't see anything in president Obama's policy agenda for the next three and a half years that's gonna make starting a business any -- in fact of the the exact opposite.
Well I I think you're absolutely right I totally agree with you on this I think it I think you know necessity is the mother of invention Stewart we all know that I think people are gonna finally wake up.
Even even though Obama as anti business there's -- or anti small business for sure there's no question about that.
People in the wake up and -- -- to start taking matters into their own hands.
And stop waiting for their home values to rise to to the point where they can retire.
-- saying what people have to do but that -- necessarily what people are actually gonna do maybe we've got a new normal here Steve.
-- people rely on government handouts -- that sounds that are striving to get up the food chain like a generation ago.
British you know they're not -- I -- review but that they're not available live on government handouts it's not going to work it's a broken model and we all know that.
It's not gonna work and I think people are gonna turn two entrepreneur or ship and again interpret to worship what say within the corporate structure.
And start thinking like the wealthy think which is to be self responsible for your own wealth -- -- -- tell you this is Charles.
While I hope you're right I don't know what -- epiphany is going to be but I think the exact opposite is happening now in this country's capitalism is.
Being looked -- up -- up frowned upon young people don't believe in -- older people have lost faith in it.
I don't see that this -- is going to be a fact I'm concerned that people are moving away from capitalism entrepreneurship and won't -- embraces.
Why I I'd I don't disagree that Charles and -- I just think it's gonna hit a point I don't think we're quite there yet it's gonna hit a point where people realize they can't retire at 50000 dollars they're gonna have to get.
And ten dollars an hour work in a wal -- not gonna cut it to retire.
They are gonna have to by necessity.
Go out there and make something happen or they're going to be eating dog food for the rest of their lives.
Look I agree with -- I think I'd love to be an optimist and say you had Harry comes the -- -- we know globe we gonna get back do it here it columnist.
But you know there's a -- of wishful thinking isn't that bearing in mind what we've got on our plate right now.
Last would I know I hope not.
I I I hope not I hope you're wrong about this -- sure looks that way.
But I I don't think there's anywhere to go -- moment people the backs against the wall they will fight -- Americans are known for that we got 200 years of history -- I think we just haven't gotten the point where our backs are all all the way against the wall but it's common knowledge DC -- -- -- -- thank you very much indeed so.
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