Nobody should be this rich.
>>947067945why not? money is just a tool. A lot like you but useful.
you're just a jealous faggot
>>947067945jealous nigger
>>947067945all that money and power and he still can't stop his son from becoming a tranny fucktoyLOL
>>947068214ur just jealous
>>947068080>>947068092>>947068118I don't understand people like this who defend people this wealthy and powerful.I guess in their mind they think they're going to eventually "join" them?Or maybe it's appealing to authority type thing.
hens are the coolest animals ever
ITT
>>947067945>net worthNetworth is a useless metric of wealth because trying to get it liquid (cash) would kill all your networth that isn't tied to land and tangible goods.If Elon Musk tried to get 0.01% of his networth, immediately his networth would plummet because everyone would assume that his businesses are failing and or making a decision that'll cause financial loss. Which then compounds and compounds as more realise it and within an hour billions of his networth would be gone forever.It you don't understand what I've just wrote, you don't understand economics at the most basics of levels.
>>947068364yep, it really never fails to make me laughwatching poor folks happily defend rich folks who happily shit on poor folksthe levels of stockholm syndrome
>>947068365
>>947067945>Nobody should be this rich.nobody is
>>947067945whining on the internet certainly has changed that for the last 20 years huh
>>947068214to be fair, I doubt he's ever spoke to his son or the rest of his kids, unless he's using them for a photo op
>>947068512Those kinds of people are very immature
>>947068475>It you don't understand what I've just wrote, you don't understand economics at the most basics of levels.*trump enters chat*
>>947068512Maybe there's some sort of assumption that if their leaders are rich then they must be intelligent.A rational for meritocracy. Which is ironic given that greater inequality only leads to more populist politics.But I doubt this group aren't critical thinkers to begin with. Including the billionaires who "lead" them. Given Thiel's obsession with the antichrist for example lol.
>>947068599Trump is a retard on many levels but talking about networth when talking about people being far too rich betrays your entire argument, it showcases that you are as illiterate about the economy as physically possible. There's nothing else you could really mention within the context that showcases to everybody that you have no clue what you're talking about.
>>947068475It has symbolic value.You can borrow money for example and never pay it back because the worth of your assets outpaces the interest owed
>>947068080>>947068092>>947068118>>947068339
>>947067945His hyperloop idea bombed.https://www.youtube.com/watch?v=SePATBiLSYsSpaceX has fallen far short of its goals.https://www.youtube.com/watch?v=EU6aJHqQKuU&pp=ygUSdGh1bmRlcmYwMHQgc3BhY2VYTesla will likely go bankrupt and billions will be lost.https://www.youtube.com/watch?v=N_3-G_aFonQ
>>947068759You can take debt against it but that's just how markets work. Imagine just for a moment if it didn't work this way, how it'd impact the common man.You finally get a house with a mortgage, you can pay it off decently. But oh wait, the land has increased in value so now your mortgage has gone up, now you're paying the bank more or maybe you even just end up defaulting on it.You end up screwing ordinary people more than the current system does.
>>947069010That is a very reals scenario for many people and it increases what is called their property taxes, not the mortgage (which can always be appraised anyway).When you own shares in an asset that is being managed by a board of directors, its value increases faster than your property because that revenue is used to expand the business's operations. Which is why stocks outpace the rate of inflation in general.When you have 100 billion in wealth, the increase of your wealth outpaces mortgages, inflation, and interest rates. You never liquidate your assets you just go to the bank and leverage their cash against your wealth and spend what is essentially endless money.At that point it's the bank's problem is you become "insolvent". A salaried person or wage person can't afford bread or gasoline. Billionaires live in a different universe. If you saw their lifestyles you would probably have an existential crisis.
>>947068214Elon looks like a retard doing those jumps.
>>947067945>says a person that wouldn't turn down 1/100th of that.
>>947069150>property taxesThis isn't done by the market, this is done by the government independent of the market. Yes it happens but it doesn't happen as a result of the market existing, it's a completely separate thing, the government, making it happen.>have an existential crisisI'm not defending them, I'm criticising the use of financial illiteracy to attack the ultra rich. It betrays a valid point.Too often it'll be retards that don't understand anything about economics that are crying about the ultra rich, and they're right, they've just chanced into being right. This is one of the biggest things that ruins the perception of people talking about this shit, when so many retards make retarded points, it starts to look like a group of just retards.When you're making a point that is easily refuted by any understanding of the subject, you're doing more harm than good.
>>947069505That's a narrative you've adopted that your own "well-being" is dependent on the upper class being stable and powerful.Notice how it doesn't question the legitimacy of their control over financial, corporate, military, or government systems. It justifies them.This also applies to governments themselves (like China/Russia) who places the priority of the state over individual stakeholders.Concepts like nation-states, ethnicity, religion, borders, and wealth are semiotic tools the rich and powerful use to subject you to the status quo.They aren't apriori to systems being controlled, they justify their inequality and discourage critique over them. Even modern intellectuals have a vested interest in the power structure because they need to amass an audience, sell books, courses, etc.The whole thing isn't a conspiracy but it is bullshit. Billionaires are not your friend and you don't "need" them to survive.
>>947068923Ladies and gentlemen, i present to you: cope
>>947069010Are we going to just ignore the elephant in the room that mortgages shouldn't exist in the first place? It's been a scheme of the epstein banking cabal to slowly take the assets away from the cattle from the start.Houses are subject to supply and demand. I buy a house? Supply shrinks, price of homes increases. Another person priced out takes out a mortgage and gets a bunch of fake virtual money to aberrate the system? Well then the supply artificially shrinks and the prices goes up pricing yet more people out. More mortgages? More artificial taking of supply? Pretty soon nobody can get a house without a mortgage. The mortgage system allowed to continue corrupting and aberrating the system with it's influx of bullshit virtual money? Pretty soon a 10 year mortgage isn't good enough, you need a 30 year mortgage. Etc. etc.
>>947067945Don't like it? Tough shit.
>>947069815>it justifies themIt explains how it works, which is how you come to learn how they're oppressive.A system that's oppressive relies on ignorance on the methodology and scale of the system to keep you in line. It needs you to be so financially illiterate that simple traps of networth stops you from doing any research deeper because a magic number you can use for your nonsensical arguments is one search away.Instead of learning how the system works to hold you down, which also allows you to some extent to leverage it in your own favour. You get the big evil number that satisfies your little rebellion against the big bad.
>>947067945
>>947069460That's a non sequitur. He said that no one should have $800 billion, not that no one should have $8 billion.
>>947067945Are you black? Do you understand the concept of work?
>>947070039Because the key insight here is that modern institutions don't exist through legitimacy or merit but participation.Despite populist efforts to sway systems and their categorical institutions toward progress or maintaining values, they manifest outcomes regardless of political or ideological rationale.The problem of humans in the 21st century is not only understanding the systems that drive economies, financial markets, supply chains, socioeconomic mobility, health, education, and policy, but how to alter them and toward what "balance".What "seems" to be happening, is that these systems are becoming so complex that "intelligence" is naturally emerging within them. And indeed they seem to be better allocators of capital and "productivity" more than humans are.Fixating on financial literacy as some sort of panacia to humanity's woes is the same rationale that any human with a narrative holds. Oh if only we,>Found God/Allah again.>Men were men and women were women again.>Progress moved in the right direction.>Education taught children what they really need to learn.>Healthcare put people first.>Annihilate the Jews.>Build flying cars instead of bombs.>Call our mothers more often.Etc. These are semiotic artifacts social/digital media creates within us because humans did not evolve to handle global systems this complex or advanced. So we fall into tribalism and single minded solutions to life's complexity.Tldr, our technology is outpacing our humanity and we're struggling to adapt.
>>947070275>The problem of humans in the 21st century is not only understanding the systems that drive economies, financial markets, supply chains, socioeconomic mobility, health, education, and policy, but how to alter them and toward what "balance".... *sigh*...So you put $100 in a bank account. The bank has a fractional reserve rate. That is fancy epstein speak for the bank being legally allowed to take a fraction of your money and loan it out to somebody else. So if there was a "10% reserve" rate that means out of that $100 you have in your account, $90 of it is straight stolen from you to go loan out to someone else. That person who takes out that loan money and puts it either in his bank or buys something with the loan money and the seller puts that money in their bank? All of a sudden your $90 is sitting in their account... and yet... your account still says you have $100. That is, in essence, a big fat IOU from the bank that is *supposed* to be insured by the FDIC, but we'll see if we ever get there.The funny thing about it though is that if you wish to withdraw the entirety of that $100 right this instance in spite of 90% of it being gone? The bank has to give you that money. So we have this paradoxical system where your money is sitting in your account, in the other account, and probably in hundreds of other accounts just by the nature of how people shift currency around.... oh and btw the reserve rate has been 0% for years now, meaning the second you give your bank money? Any money? It is immediately all stolen. "Fractional reserve," lol.It's all run by fraud. Massive, systemic, fraud.
>>947067945Wrong. I should.
>>947070712I'm familiar with fractional reserve banking.But if you want to reduce this argument down, why does someone have to be a banker to form a critique of financial institutions?There are food critics who aren't chefs, and literary critics who don't write.What you choose arbitrate as an authority are the ones you choose to accept. Like justifying the legitimacy of billionaires but saying banks are stealing from you.
>>947067945I am this rich. And I take BBC in my bussy
>>947070884I'm >>947070712. This >>947070039 is a different anon.My point is that>The problem of humans in the 21st century is not only understanding the systems that drive economies, financial markets, supply chains, socioeconomic mobility, health, education, and policy, but how to alter them and toward what "balance".is a bunch of word vomit.You say you're familiar with fractional reserve. Clearly I am. You evidently didn't learn it from me and I'm sure I didn't learn about it from you. So there are all these other people who're familiar with the fraud.It's not just that we understand the systems that drive economics, financial markets, supply chains, socioeconomic mobility, etc. It's that it doesn't seem to have done us any fucking good.Because you later go on to say...>What "seems" to be happening, is that these systems are becoming so complex that "intelligence" is naturally emerging within them.which implies this is a problem of dumb-dumbs. Fucking prove it, bro.
>>947067945He stopped bugging me for consulting after i told him to pay me himself while i was making Pete Theil look like a zoobred retard
>>947070275>These are semiotic artifacts social/digital media creates within us because humans did not evolve to handle global systems this complex or advanced. So we fall into tribalism and single minded solutions to life's complexity.yes they did! It's that frequently cited mindset of incapability that drives systems to sublimate the efforts of few individuals as the participation of many. Democracy!!! The Internet!! Let no other thought cross your insignificant mind!
>>947071104I don't have to prove anything because you're living it.Lets take inventory.Are you a billionaire?No.Are these globalized systems increasing your net worth at the scale/rate of a billionaire?No.Do you have political power to shape supply chains and geopolitical legacies?No.According to your own reasoning, you aren't privy enough to be making critiques about those systems or refute them from me in the form of an argument.So you're entire premise is built on,>People are not economically/financially literate because if they were, they would support billionaires and their hegemony.There I dumbed it down for you lol.
>>947071217I think I broke him.
>>947068512You just summed up the Republican party
>>947071219OMG, pseud, take a seat:>I don't have to prove anything because you're living it.So you've got nothing to back up your stance. Great. I could just end it here.>Lets take inventory.Oh okay.>Are you a billionaire?>Are these globalized systems increasing your net worth at the scale/rate of a billionaire?>Do you have political power to shape supply chains and geopolitical legacies?So let's take this all at face value: so if your only purpose here is to complain about billionaires? Why do you need all the psuedo-intellectual nonsense? Why not just say, "Fuck 'em" and be done with it?>According to your own reasoning, you aren't privy enough to be making critiques about those systems or refute them from me in the form of an argument.No, that's a strawman your ego has cobbled together because you didn't count on anybody critically reading what you said, and, furthermore, we can take what you said here at face value:If that were so? Then instead of saying,>I'm familiar with fractional reserve banking.you would've instead said I was wrong about fractional reserve banking, and probably pointed out the flaws in my "critique," but you didn't do that because there's nothing with my statements of facts on the matter, but instead of dealing with me or that you'd rather find a strawman to punch.>So you're entire premise is built on,>People are not economically/financially literate because if they were, they would support billionaires and their hegemony.No, my premise has shifted: it's now that you haven't graduated 4th grade reading comprehension.>There I dumbed it down for you lol.A simple false premise offered as a strawman from a simple mind. I wasted my efforts here.
>>947071478I accept your concession then.
Bastard could give everyone on Earth a billion dollars
>>947067945I wonder how much tax he pays, people he employs, technologies hes working on etc.. How is it people dont understand the wealthy
