Billionaires bounce back

Discussion in 'Politics, Religion, Social Issues' started by zimv20, Feb 27, 2004.

  1. zimv20 macrumors 601

    zimv20

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    #1
    link

     
  2. Desertrat macrumors newbie

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    #2
    Given earlier comments in other threads about how the only way to get rich is to inherit, isn't there a bit of irony in this list?

    Bill Gates started out as a Hipppie Nerd; Rowling came out of nowhere but had an idea for a story. Buffet started with little more than smarts and ambition.

    While I wouldn't go back and change anything about my own life, vis-a-vis money-hustle, I've often wondered where I'd have gotten if I'd not wanted my independence from "the system" as much as I have. Huntin' and fishin' and racin' "them old sports cars" and listenin' to good music--those were more important to me than hustling money.

    None of those billionaires got rich by hurting me, so "Good on'em!"

    :), 'Rat
     
  3. zimv20 thread starter macrumors 601

    zimv20

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    #3
    *i'd* certainly never claimed that.

    if someone does believe that, have a look at the book "the Millionaire Next Door". it's an eye-opener.

    one way to read the article is that last year's stock market recovery is helping only those who are invested (i had a great year). but there remains a net loss of jobs, a deficit budget, etc.

    so in answer to, "who is the recovery helping?", one answer is obviously: the billionaires
     
  4. Neserk macrumors 6502a

    Neserk

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    #4
    Money is like engergy. It moves from one place to another. If you have it it came from someone. For someone to be a millionaire other people had to give money up some how. In many cases by selling their labor cheaply to survive or over paying for goods.

    Think of the Pharmaceutical companies. Even with the cost of research on drugs that never to make it to market they are still making money hand over fist and and becoming rich on the illnesses of other people. Some basic drugs cost $5 or more a day. And we aren't talking about a drug you have to take for week and that is it. We are talking about maintance medications that often are taken for years on end or even for life. If you don't have prescription insurance you are screwed.

    And since when do people actually get paid for the value of the work they do. Some of our most important workers are sanitation workers. What are they paid?
     
  5. Desertrat macrumors newbie

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    #5
    "Money is like engergy. It moves from one place to another. If you have it it came from someone. For someone to be a millionaire other people had to give money up some how."

    Two problems with this idea: First, it ignores the fact that wealth can be created from nothing more than an idea: "Harry Potter" is a good example.

    Second, it doesn't at all explain how the GDP of the world increased to its present (approximately) $32 trillion. I don't believe it can be explained by inflation and the loss of value of money (although obviously there has been some, over time). The expansion of wealth did not occur from printing money.

    Wealth, overall, comes from production. Production comes from somebody's idea of a new mousetrap of some sort. Once the mousetrap is "out there", others go into production...

    A farmer buys seed; he adds labor and produces a crop. That's an increase in total wealth. Same for any other sort of business.

    The fact that some cheat and all that sort of Bad Thing has little to do with the creation of wealth, whether for an individual or for a nation or for the world.

    'Rat
     
  6. zimv20 thread starter macrumors 601

    zimv20

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    #6
    and from the promise of future production
     
  7. Desertrat macrumors newbie

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    #7
    Yup, zim, and a lender's belief in the possibility of your future production is how ya get investment capital. :)

    Funny how few folks realize that without trust there is no business...

    'Rat
     

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