Economy The five richest people in the world seen their net worth increase by 14 million an hour since 2020.

[MarloStanfield]

Are they happy though?

 

[Scerpi]

Lol you have to be a next level idiot if you think Trump has done anything but exacerbate this problem. We can also bicker about COVID but this a has been a massive glaring problem for a long time now

It’s no secret that Covid policies caused the greatest transfer of wealth to the largest companies while laying waste to small businesses

Inequality and COVID-19 – IMF F&D

www.imf.org

 

[Mr Holmes]

It’s no secret that Covid policies caused the greatest transfer of wealth to the largest companies while laying waste to small businesses

Inequality and COVID-19 – IMF F&D

www.imf.org

This is a fact. Build back better inflation reduction act is another one.

 

[fedoriswar37]

Lol 2020 you say . Wonder what sparked this large wealth transfer.

 

[Blayt7hh]

]It’s no secret that Covid policies caused the greatest transfer of wealth to the largest companies while laying waste to small businesses

Inequality and COVID-19 – IMF F&D

www.imf.org

This is a video I’ve shared many times on here. It’s from 2013:


This is a problem that was building for decades even before that but by the time of this video had jumped the shark. Some of you guys are finally starting to listen but it seems like you’re only listening because you can blame it on covid

 

[44nutman]

How many people were you expecting to pick up with your "Trump was president when my governor locked me in my house at my request"?

Your boyfriend dumping you while the bad orange man was president doesn't mean the bad orange man made your boyfriend break up with you.

You cry and pretend he was a "dictator", then cry that he was specifically NOT a dictator while voting back in the person who was.

Can’t dispute my facts so you go with the 8th grade gay joke. Right now your middle school gym coach could not be prouder of you. Even though he might question you for worshipping a dude who wears make up, lifts and a diaper.
That is why Trump has such a strangle hold on the GOP his fans like you are too emotionally attached to Trump, you don’t give 2 shits about facts. When people say it’s a cult, your post proves them right.
I guess one more chance to refute my facts or do I get another gay joke as a retort.

 

[moreorless87]

This is a video I’ve shared many times on here. It’s from 2013:


This is a problem that was building for decades even before that but by the time of this video had jumped the shark. Some of you guys are finally starting to listen but it seems like you’re only listening because you can blame it on covid

The man who did most to kill the post war american dream which ironically he traded off of....

 

[Scheme]

So because a bunch of people got federal money and chose to buy Gucci bags instead of saving it, that's somehow Bernauld Arnault's fault?

And because Teslas are the most in demand car, so much so that they actually lack the capabilities of filling the demand for them, that's somehow a bad thing?

For the most part, Amazon is simply a better service than any other. There are plenty of competitors to them, so why is it bad that Bezos, the founder of the company, gets like a penny for each transaction? Also, AWS is an amazing service and revolutionized the computing world.

And I've made this point before, but a person accumulating wealth actually is good for the most part, because of what they do with it:

For every dollar a billionaire makes they are already taxed it on their income (assuming fair laws). It's also a net positive since society has said that the thing they made is somehow good enough for society to give them that dollar.
1. They can save the money in a bank - the bank then uses that money to invest in other businesses/give out loans which is a benefit to society
2. They can save it under their bed - this has a deflationary effect on the money supply, as it's essentially like destroying a dollar (until they use that money)
3. They can invest it - this is good because other businesses get that money and can spend it on more resources and employees
4. They can spend it - this is the one legal action they can do with their money that has a bad side effect, as it removes products from the marketplace that would otherwise have been there and could increase prices as a result. However, the businesses they spend their money on will get the money and they will be able to employ more people, invest further, etc.

The only problems with billionaires is if they can pull off illegal schemes with their money, things like offshoring to avoid taxes or using it to lobby politicians to give them tax breaks. But those are already illegal and just need more enforcement.

 

[Cuauhtemoc]

Why aren't the parasites (royal families across the world) never mentioned amongst articles like this.

Forbes do not rank heads of state. It's arguable that the King of Saudi Arabia and Putin are richer. In fact, they have almost unlimited resources as they can just redirect taxes and SOE funds to their personal bank accounts. It isn't really a fair comparison. In practice they hold sway over trillions of dollars.

 

[Cuauhtemoc]

So because a bunch of people got federal money and chose to buy Gucci bags instead of saving it, that's somehow Bernauld Arnault's fault?

And because Teslas are the most in demand car, so much so that they actually lack the capabilities of filling the demand for them, that's somehow a bad thing?

For the most part, Amazon is simply a better service than any other. There are plenty of competitors to them, so why is it bad that Bezos, the founder of the company, gets like a penny for each transaction? Also, AWS is an amazing service and revolutionized the computing world.

And I've made this point before, but a person accumulating wealth actually is good for the most part, because of what they do with it:

For every dollar a billionaire makes they are already taxed it on their income (assuming fair laws). It's also a net positive since society has said that the thing they made is somehow good enough for society to give them that dollar.
1. They can save the money in a bank - the bank then uses that money to invest in other businesses/give out loans which is a benefit to society
2. They can save it under their bed - this has a deflationary effect on the money supply, as it's essentially like destroying a dollar (until they use that money)
3. They can invest it - this is good because other businesses get that money and can spend it on more resources and employees
4. They can spend it - this is the one legal action they can do with their money that has a bad side effect, as it removes products from the marketplace that would otherwise have been there and could increase prices as a result. However, the businesses they spend their money on will get the money and they will be able to employ more people, invest further, etc.

The only problems with billionaires is if they can pull off illegal schemes with their money, things like offshoring to avoid taxes or using it to lobby politicians to give them tax breaks. But those are already illegal and just need more enforcement.

It's not bad in itself that there are successful businessman that invest in great products. It's just that they could be taxed a little bit more on their disposable income and that money could be used to end stuff like child poverty. When Bezos goes on a buy a 100 million plane he is creating jobs and stuff but it's not nearly as helpful as giving out 10 thousand bucks to 10 thousand families.
He could be taxed 1 billion extra each year and he wouldn't even realize it, that would be able to help out 100 thousand families with 10 thousand bucks a year.

 

[SKYNET]

who knew? Imagine that, us plebs were out here hoarding all the toilet paper at Walmart and paying Amazon to deliver everything we consume because everything was forcibly closed in early 2020 while these billionaire motherfcukers were laughing their asses off all the way to the bank


-hoarding toilet paper-

 

[calavera2]

Forbes do not rank heads of state. It's arguable that the King of Saudi Arabia and Putin are richer. In fact, they have almost unlimited resources as they can just redirect taxes and SOE funds to their personal bank accounts. It isn't really a fair comparison. In practice they hold sway over trillions of dollars.

I wouldn't quite put Putin along with the kings and queens of Europe and the middle east. At least Putin pretends to be elected. The others don't even pretend and there is no reason not to rank and criticize them since they are more worthy of the criticism than the merchant class that at least produce something of value.

 

[Cuauhtemoc]

I wouldn't quite put Putin along with the kings and queens of Europe and the middle east. At least Putin pretends to be elected. The others don't even pretend and there is no reason not to rank and criticize them since they are more worthy of the criticism than the merchant class that at least produce something of value.

These ranks are not for criticism though, it's more of an award. The reason they don't rank the kings is to not make the businessman feel bad.
But yeah, fuck King Salman. Hopefully one day the population there take control and redistribute his stuff.

 

[Scheme]

It's not bad in itself that there are successful businessman that invest in great products. It's just that they could be taxed a little bit more on their disposable income and that money could be used to end stuff like child poverty. When Bezos goes on a buy a 100 million plane he is creating jobs and stuff but it's not nearly as helpful as giving out 10 thousand bucks to 10 thousand families.
He could be taxed 1 billion extra each year and he wouldn't even realize it, that would be able to help out 100 thousand families with 10 thousand bucks a year.

I agree, but the headline suggests that it for some reason is intrinsically bad that they increased their wealth. They did get taxed for the increases in their wealth as well, so I'm not sure what the big issue here is.

Also, the majority of this wealth is tied to ownership of these companies, so it's not like they are even spending the money.

 

[Senzo Tanaka]

When they say "the economy is good" - this is what they are talking about.

Companies are making record profits by raising prices and shrinking the sizes of their products. Meanwhile, everyone not extremely wealthy are struggling hard. It's probably the worst I've seen it in my lifetime.

 

[Eric Silva 2.0]

As with many phenomena, the most astounding thing about this for me is not the phenomenon itself but the reaction, or lack thereof, of the public. For me, more shocking than the fact that that few people have that much wealth is the fact that the great majority of the population either have no opinion on it, or defend the system that brought it about.

You could call it slavery, which is a bit of an exaggeration, or you could call it magic. I have a piece of paper which says that these people's property belongs to me! I do nothing and thousands of people work to provide goods and services. They are paid enough to keep them alive to the next sunrise and I take the rest!

If they don't like it they can go and work for someone else. But everyone else treats them the same. Then they can not work and starve in a cardboard box. My magic piece of paper seems to awe people into submission that this state of affairs is right and proper, but if the spell doesn't work on everyone the police and ultimately army will gaol or if necessary kill them if they try to overthrow it.

The magic explanation is facetious, you can just explain human behaviour by slavery being our natural state. The tribes who used slavery survived and reproduced more effectively for many generations until our psychology and instincts fitted it. I suppose some of it goes back to pre human days.

"You could call it slavery, which is a bit of an exaggeration."
I think this system is worse than slavery. Slaves knew they were slaves.

"The greatest trick the devil ever pulled was convincing the world he did not exist." Keyser Soze....... The Usual Suspects