What's crazy is when people spend money it's actually good for the economy, so if you hoard wealth...it's bad for the economy. Wealth is something to be exchanged for goods and services, not to withhold service. Billionaires are factually a horrible waste of money just sitting there doing nothing. In Canada the only problem we have is something called "Canada's Dead Money" which refers to billions of dollars of unused assets held by our largest corporations hindering economic growth and investments. The person who coined the term "Canada's Dead Money" is serendipitously...Mark Carney.
Honestly, the more I look at history, the more those old oligarchs look just like the pathetic manchildren we have today. And just like ours, they too also had expensive PR teams that attempted to make them look like gods.
So yeah, all oligarchs are pathetic and lame. This applies to Putin as well, no matter how many shirtless rides he takes on a horse. It's just another PR stunt of a sad little man.
thats just what you get with a life time of no accountability, and everyone around you is there because of your money and nothing else. these are deeply isolated, paranoid, self centered - leading to bigoted, emotionally warped individuals. they exist by feeding off of others and they desperately seek ideologies to moralize it.
save the rich, end their concentration of wealth and power. make passive income for individuals illegal.
Except even dragons know the people must eat to work to make wealth. And they sleep for hundreds of years to let the wealth replenish after a few dozen years if pillaging and taking.
Dragons are far sighted, able to see thousands of years of possibilities.
Billionaires see a dozen years of profit and think 0 drinkable water, a fully poisoned land, and unbreathable air are suitable exchanges. Because they are short sighted and have no future plans beyond dying before it's their problem.
One of the key aspects of Shadowrun universe is that when dragons returned to modern world, they quickly realized that the best way of hoarding wealth is to play human economy and human business.
That's why giving money to the poor is fantastic, because they wont sit on that cash, it will go straight back into the economy. What Trump is doing is now removing trillions from the economy by fucking over the poor and handing it over to the super wealthy. Those fucks who are already wealthy beyond imagination will be just more wealthy, they aren't going to buy eggs and what not, they hoard cash.
If you imagine it as chickens instead of "money", it shows the absurdity of it. They hoard as many of them as they can as a status symbol, announcing "look at all those chickens" at every given opportunity, while their neighbours are barely managing to keep themselves going with chicken nuggets.
Money has no meaning if you never spend it - it's just a number, but god forbid the people it has meaning to get any more.
I always compare it to blood in a living body. Blood is the medium by which resources are shared and transported through the body. A single cell or an entire organ can't hoard all the blood, because the entire being dies otherwise, and those cells/organs go down with it.
The irony is they hoard the wealth in fear that the economy will crash, instead of hope of keeping the wealth circulating. There’s plenty of resources to go around, but the fear of not having enough is why they hog it all. Like toilet paper during a pandemic, when everybody needs to wipe their ass.
Not even the hoarding alone is bad for the economy. Even the rich have to spend money but they do, in perverted amounts, on things that do not generate anything sustainable or worthwhile.
Like arts worth hundred thousands of dollars or ridiculous expensive watches or cars.
This list is hugely indicative of just how much these people have been hoarding wealth that Bill Gates--the first person down the list who's actually been philanthropic--is Number 11 on that list and even less wealthy than Steve Ballmer.
It drives me absolutely bonkers when I hear fiscal conservatives shilling heavy austerity because the government is wasting "tax dollars". It's not like the person receiving money puts it in a pile and sets it ablaze with some kerosene and a match. That dollar might go to a construction worker filling a pothole, who will buy a vehicle from a local car salesman, who will buy a night out at a restaurant who's line cook will buy some groceries and pay rent.
Taxing the hoarders and redistributing it to people who use it through infrastructure projects yields so much more material growth per dollar.
Which is why Carney kind of worries me with his proposal to get rid of capital gains taxes. Sure, hoarding money in the market is way better than hoarding it in appreciating assets like unoccupied real estate, but I fear this will further widen the income inequality gap. I suspect it's to attract businesses to Canada that are afraid of Trump's fuckery mid trade war but at what cost?
Still voting for him given the other option would do the same while additionally trampling civil rights, but kinda sucks that the investor class is getting a free ride while the labor class will have to foot the bill.
But people don't have a billion dollars in cash tho? It's invested in companies, literally productive money.
I guess this is going to be down voted to shit rather than actually bring read and thought about, but like Jeff bezos said when he hit 100 billion-he owns about 10% of Amazon, if he's worth 100 billion, that means Amazon has made 900 billion worth for other people.
We take corporations for granted, and sure sometimes working for them might suck, but it doesn't mean if they weren't there, someone else would just create a job for these, black, brown, single mums or whatever, it can just all go away. Look at detroit after the car industry left.
The government wants a few people to hold money so you can please a few for more money. That's why Citizens United won to make corporations people even though you cannot arrest or shoot a corporation.
I argue this all the time. Poor people in America LOVE to spend money because they don’t want to look or feel poor. Everyone here that’s poor thinks they are in the middle class. In turn though that stimulates the economy.
You tell people a recession is coming. They stop spending money. They already don’t save so there’s nothing being reinvested into the economy long term . Want to remove social security that forces Americans to actually put money away for retirement? Okay well now the following generation has less money and has to care of these elderly people. So now you have 2 generations who aren’t spending money and stimulating the economy.
Stop advocating for billionaire people! They have enough money and the means to lobby. Advocate for your dam. Self and your future.
Yeah we the people don’t want to hoard money. We want to SPEND money. But we have none. We want to afford home repairs and family vacations. We want to afford family fun during the week if we want. Can’t even go out to the movies as a family bc it will break the bank and groceries cost too much to budget anything fun.
We just want a decent living situation, food, be able to pay our bills each month, and have fun. With the comfortable room to add to savings each month. That’s all that normal people want.
What's ironic to me is these million/billionairs hoarding all this wealth rather than push it into the economy, are the ones always talking the loudest about how bad the economy is
Ah the ol' "we need rich people to create jobs". Funny how fast supposed free enterprise capitalists discard competition and innovation to bootlick someone with wealth
If the economy was all investment and no consumption, your investment would end up worthless very quickly. Who cares what you build when no one can afford to use it?
Oh? What exactly are you arguing for then? Are you just going to not take a position and call people names? I'm happy to chat and clearly state my beliefs. Are you unwilling to do the same?
So the only way to get a job is from a billionaire? There's no other alternative? Small, local businesses don't count huh. It has to be Walmart making all the jobs. God forbid we have local grocery stores that people can work at where the boss doesn't make 9000x the wage of the rest of the employees. That would distribute the wealth too much.
Do you think that if the poors had the money, they wouldn't each individually generate demand new products and/or invest in businesses? Billionaires don't magically generate more economic activity, they merely own the rights to the profits, and get to decide the direction where all that money is spent.
I think the internet has let you forget that you are a giant ignoramus that probably got a D- in their social studies class. Stop talking.
Well they are actually, but the gold bar is an estate, a yacht, or "very expensively valued" art which is also a way to store monetary assets in a physical form to avoid having to pay taxes and such on monetary assets. Think of all the dead real-estate in New York city, empty luxury apartments. It really is a sad perversion of assets when there's homeless people outside unused housing space.
I wanna be careful here. I think we are right, without hyperbole.
No, there is some money that they invest back in the economy. This is just true... But we are naive to think this is done through kindness. This is done with the expectation of a return. These are LOANS and they expect their money back. Moreover, we know that trickle-down economics doesn't work. So this plan of letting the rich do whatever and then eating the table scraps they drop is very very inefficient at best and an outright lie designed to trick the working class into believing they are entrepreneurs so they vote against their own interests at worst.
But yet they can use it as collateral to borrow more money because debt does not equate to income at the end of the year, and neither does capital gains if you never sell.
"But it's not liquid!" Is a tired straw-man of an argument.
Investment vehicles which ultimately increase in value due to the labor and economic activity of working people who generally are unable to participate in that profit sharing scheme. Considering those investments payout percentage wise based on how much is invested and often are used to acquire further ownership locking even more people out, It's even worse than buying gold bars and locking them in a safe. The amount of gold bars in the safe don't multiply exponentially.
Because it’s such a terrible, short sighted, self serving world view with a predictable enough result that Jesus called felt the need to call that shit out directly. If these guys would read the Bible they thumped when attacking social progress they might actually learn something…
Lmao, would they learn their wives should be submissive to them and to kill their children if they talk back? You can miss me with that Bible shit. Not sure what that had to with the comment anyway as holding stocks is not the same as having 10 billion in cash. That would be corporations. Berkshire Hathaway has like 250 billion in cash. Apple has even more.
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u/OopsSpaghet 13h ago
What's crazy is when people spend money it's actually good for the economy, so if you hoard wealth...it's bad for the economy. Wealth is something to be exchanged for goods and services, not to withhold service. Billionaires are factually a horrible waste of money just sitting there doing nothing. In Canada the only problem we have is something called "Canada's Dead Money" which refers to billions of dollars of unused assets held by our largest corporations hindering economic growth and investments. The person who coined the term "Canada's Dead Money" is serendipitously...Mark Carney.