Rich people own half the blah blah blah

[Deleted]

It seems to me that recently there's been an influx of people in the media complaining about the rich again, how much money they have and all the usual jealously and hatred.

Now to those saying that top X rich people have more wealth than 3 billion people combined or whatever biased observation you wish to make...

Do you even realize most of this wealth is just theoretical? It doesn't actually exist, it's based simply on what other people would be wiling for pay for it on the stock market. Let's face it, if you own some big successful company, the tangible assets are probably not worth much (relatively speaking), offices, tools, they're not why Gates or Zuckerberg is rich. It's the work and know-how being done behind it that makes it worth billions, especially in the case of IT stuff. Come zombie apocalypse or some other catastrophic event that puts an end to civilization as we know it, it won't be worth jack shit, a bunch of unpowered servers of Facebook aren't going to put food on the table and the offices won't even be worth the building material they are made out of.

You say oh look at person X he has 10 billion! No, he most likely doesn't have that cash, he probably has stocks that are theoretically worth 10 billion, tomorrow they could be worth 1 billion, 12 billion or nothing. Certainly if he tried to sell it all off at the same time he wouldn't see 10 billion.

And if he did, who else would be capable of buying the major shares if not for someone who is at least equally rich, and then you'd have 2 billionaires to complain about.

Btw, split that with the world? Yay, now we have a theoretical dollar each, great job, get a few more billionaires and we have 10$ each that's gonna end world hunger. NOT

Jealously of the rich doesn't work my friends, sorry. Fix your own countries and maybe then you wouldn't have salaries that are 10 times lower than an American or British garbage man.

[Deleted]

Clearly you have no grasp of how money works.

Currency initself is a fictional concept involving an agreement to value.

Doesn't make the rich less rich.

Good try tho.

[ThatCanadianGuy]

Jealousy has nothing to do with those news stories...

I think you missed the point they were trying to make.

[Rukentuts]

Do you even realize most of this wealth is just theoretical?

Assets are very real. The value of my home, is an asset. The value of my investments accounts is another. What you call "theoretical" are just assets that aren't liquid.

[Aeluron Lightsong]

Jealousy? Get real, it's not jealousy.

[Mormolyce]

I'm pretty sure it's more like 90% of the blah blah blah. And they have a controlling interest in the yadda yadda too.

But yeah that's a really great point about how billionaires aren't really billionaires because money's like, not even real man!

[Deleted]

you do realize that some people go serval miles, just to get water yeh? wonder what 1 dollar or 10-100-1000dollar's culd be used to?..

[Mayhem]

Fix your own countries and maybe then you wouldn't have salaries that are 10 times lower than an American or British garbage man.

if you are rich, you really don´t want this to happen, ever

[Deleted]

Clearly you have no grasp of how money works.

Currency initself is a fictional concept involving an agreement to value.

Doesn't make the rich less rich.

Good try tho.

There's actually a good point in this as well. The exact same 1 room apartment (materially speaking) is probably worth X times more depending on country. It could be 200k$ in England and 5k$ in Somalia, (not sure if exact numbers, but they're estimates) so yes it is pretty theoretical. That is exactly why the recent comparison of top 85 vs bottom 3.5 billion is BIASED.

[Deleted]

There's actually a good point in this as well. The exact same 1 room apartment (materially speaking) is probably worth X times more depending on country. It could be 200k$ in England and 5k$ in Somalia, so yes it is pretty theoretical. That is exactly why the recent comparison of top 85 vs bottom 3.5 billion is BIASED.

Must be fluxuations cause of Jealousy man. Worth it's weight in gold. Dey jelly tho.

[Mischiefpwns]

Do you even realize most of this wealth is just theoretical? It doesn't actually exist, it's based simply on what other people would be wiling for pay for it on the stock market. Let's face it, if you own some big successful company, the tangible assets are probably not worth much (relatively speaking), offices, tools, they're not why Gates or Zuckerberg is rich. It's the work and know-how being done behind it that makes it worth billions, especially in the case of IT stuff. Come zombie apocalypse or some other catastrophic event that puts an end to civilization as we know it, it won't be worth jack shit, a bunch of unpowered servers of Facebook aren't going to put food on the table and the offices won't even be worth the building material they are made out of.

You say oh look at person X he has 10 billion! No, he most likely doesn't have that cash, he probably has stocks that are theoretically worth 10 billion, tomorrow they could be worth 1 billion, 12 billion or nothing. Certainly if he tried to sell it all off at the same time he wouldn't see 10 billion.

And if he did, who else would be capable of buying the major shares if not for someone who is at least equally rich, and then you'd have 2 billionaires to complain about.

Btw, split that with the world? Yay, now we have a theoretical dollar each, great job, get a few more billionaires and we have 10$ each that's gonna end world hunger. NOT

Jealously of the rich doesn't work my friends, sorry. Fix your own countries and maybe then you wouldn't have salaries that are 10 times lower than an American or British garbage man.

Such ignorance and silliness. Wealth is incredibly real and not as hard as people think it is to make. This is why people invest their money because it comes back to you in the form of tax breaks and asset building. Anyone can be rich and it's incredibly simple to do. Unfortunately, people are brought up wrong and are not taught how to properly build wealth through strategies like dollar cost averaging and diversification.

People are more interested spending what little money they have on stuff they neither need or want. People spend their money based on emotion and not on the consequences that spending the money really does. There is lots of money out there and it's really not difficult to make. If you are a person of good self control and smart investing habits you gain wealth. There will be no zombie apocalypse and even if there was, you are more safer with built up assets than being broke.

Don't be stupid and you can easily grow your money and have what you want. I've seen it happen personally many times.

[Aeluron Lightsong]

Such ignorance and silliness. Wealth is incredibly real and not as hard as people think it is to make. This is why people invest their money because it comes back to you in the form of tax breaks and asset building. Anyone can be rich and it's incredibly simple to do. Unfortunately, people are brought up wrong and are not taught how to properly build wealth through strategies like dollar cost averaging and diversification.

People are more interested spending what little money they have on stuff they neither need or want. People spend their money based on emotion and not on the consequences that spending the money really does. There is lots of money out there and it's really not difficult to make. If you are a person of good self control and smart investing habits you gain wealth. There will be no zombie apocalypse and even if there was, you are more safer with built up assets than being broke.

Don't be stupid and you can easily grow your money and have what you want. I've seen it happen personally many times.

Ancedotal evidence here.

[Mayhem]

There's actually a good point in this as well. The exact same 1 room apartment (materially speaking) is probably worth X times more depending on country. It could be 200k$ in England and 5k$ in Somalia, (not sure if exact numbers, but they're estimates) so yes it is pretty theoretical. That is exactly why the recent comparison of top 85 vs bottom 3.5 billion is BIASED.

yes, it´s only about the apartment, not the neighbourhood, the infrastructure or anything like that... it´s all the same

heck why don´t i live in somalia right now, life would be so much easier

[Deleted]

Ancedotal evidence here.

Yields a principal point - but fails to point out practicality of life situations and reality.

[Deleted]

if you are rich, you really don´t want this to happen, ever

Possibly the biggest swindle of the jealous, that rich countries are rich because of poor countries. No, it's about value systems and work ethics primarily.

[Tierbook]

A better question is why people think this is a new phenomenon, I can't think of any point in history where the richest 1% didn't own a very large chunk of the world's value if anything it has gone down overtime

[Deleted]

Possibly the biggest swindle of the jealous, that rich countries are rich because of poor countries. No, it's about value systems and work ethics primarily.

You really don't know how Capitalism works, do you...

[AeneasBK]

Possibly the biggest swindle of the jealous, that rich countries are rich because of poor countries. No, it's about value systems and work ethics primarily.

And history

[Mayhem]

Possibly the biggest swindle of the jealous, that rich countries are rich because of poor countries. No, it's about value systems and work ethics primarily.

oh yeah i forgot, ressources aren´t needed to get wealthy

[Deleted]

yes, it´s only about the apartment, not the neighbourhood, the infrastructure or anything like that... it´s all the same

heck why don´t i live in somalia right now, life would be so much easier

Yes, that's kinda the point. The reason why such countries are poor is because of self-inflicted misery. In order to have economic growth you need a government that's strong enough to maintain rule of law and private property rights, but small enough that it doesn't strangle economic growth with high taxes and counter-productive regulations. Also when there's permanent conflict, high crime rates etc. nobody wants to come visit or invest either. Their own citizens don't invest since there's no guarantee of tomorrow.