The world's richest families' staggering wealth

What did they do vs what did you do to earn their wealth. It's fun to do math about how much richer folks are, but why does anyone deserve what they've earned? a reply to: dfnj2015

originally posted by: Puppylove
a reply to: JAGStorm

Doesn't matter how hard someone worked, nor does it matter where they started from. There's an upper limit to what anyone should be allowed, regardless.

Allowed... by whom? Who decides, and why?

My problem isn't wealth. It's excess. People should have an incentive to succeed. That does not require the possibility of infinite wealth at everyone else's expense.

Yes, it does.

Your argument appears to be based on the ass-u-me-ption that wealth is a single finite pie, and everyone has to fight for their slice. This is a false assumption.

700 trillion sounds made up .

"Rothschild family: net worth estimated at up to $700 trillion. One of the wealthiest and most influential families in the world, the banking dynasty was founded in the 1760s."

Richphobes truly did pull that figure out of their posteriors.

originally posted by: tanstaafl

originally posted by: Edumakated
a reply to: Bluntone22

Yup. And quite a few economist believe the new deal extended the depression.

Quite right...

Quite wrong, actually. The article can state it all it wants but that doesn’t make it true. It’s an op ed and uses no comparison statistics or examples of where unfettered capitalism is successful, doesn’t have booms and busts, etc.
And that’s for a reason. It doesn’t exist. The closest we have to unfettered capitalism are the most corrupt places in the world. Like Columbia or Honduras. Because unfettered capitalism always moves towards oligarchy, corporate tyranny, and neo feudal peonage. Because, as you all state, capital doesn’t stay idle. It’s used to manipulate the system, market, and gov To its own benefits.

originally posted by: neo96

"Rothschild family: net worth estimated at up to $700 trillion. One of the wealthiest and most influential families in the world, the banking dynasty was founded in the 1760s."

Richphobes truly did pull that figure out of their posteriors.

Jesus, people. Op already gets it, there’s no 700 trillion. There’s still staggering wealth and that’s where the discussions moved on to.

a reply to: pexx421

Who gives a snip?

How about stop continually trying to deny a minority their 4th and 14th amendment RIGHTS?

originally posted by: tanstaafl

originally posted by: Puppylove
a reply to: JAGStorm

Doesn't matter how hard someone worked, nor does it matter where they started from. There's an upper limit to what anyone should be allowed, regardless.

Allowed... by whom? Who decides, and why?

My problem isn't wealth. It's excess. People should have an incentive to succeed. That does not require the possibility of infinite wealth at everyone else's expense.

Yes, it does.

Your argument appears to be based on the ass-u-me-ption that wealth is a single finite pie, and everyone has to fight for their slice. This is a false assumption.

But wealth IS a finite pie, and especially in a financialized economy like our own, income is usually made by taking it from others. For instance, in 1980 80% of gdp growth was made from increased productivity. However, in 2017 60% of gdp growth was made by taking it from the workers. In a deindustrialized economy like ours, with stagnant wages like ours, and a shrinking middle class like ours, and massive growing personal debt like ours, companies can’t really expand the market to make more profit so they must do it by cannibalizing their workers benefits, wages, pensions, and by arbitrary price hikes.

This should be no surprise as this point, as this has been the us economic model since trickle down reversed the new deal 40 years ago. It’s amazing to me, that over 40 years of tax cuts on the wealthy, and deregulation, and an obvious steady trend of massive gdp growth, with absolutely no wage growth in 40 years, that people can’t recognize facts.

Hello! What do you call forty years of massive gdp growth but stagnant or falling wages for 300 million Americans?? A transfer of wealth!

originally posted by: neo96
a reply to: pexx421

Who gives a snip?

How about stop continually trying to deny a minority their 4th and 14th amendment RIGHTS?

Be more specific. I don’t want to take away your rights. That’s the republicrats party. The corporate Warhawk one.

It is not worth it pexx. Ostriches gonna ostrich. You have already laid everything out clearly, consicely, and without bias. If they are going to miscontrue your points and ignore others, this is no longer a constructive discussion.

a reply to: KnoxMSP

But damn, it is nice to see people with enough passion that they continue pushing the boulder up the hill, against the cries of fake indignation.

This guy actually made me think and question my unyielding capitalistic views. It was painful at first but it started to make sense after a lot of research and some of the authors/lecturers (Michael Hudson) he referred.

There is one thing that is very curious. Why are all of the media and main stream mouthpieces so against anything that questions the current capitalistic system? That should speak volumes that something is amiss.

originally posted by: ClovenSky
a reply to: KnoxMSP

But damn, it is nice to see people with enough passion that they continue pushing the boulder up the hill, against the cries of fake indignation.

This guy actually made me think and question my unyielding capitalistic views. It was painful at first but it started to make sense after a lot of research and some of the authors/lecturers (Michael Hudson) he referred.

There is one thing that is very curious. Why are all of the media and main stream mouthpieces so against anything that questions the current capitalistic system? That should speak volumes that something is amiss.

I am man crushing on pexx's intelect, you stay away!

I am done with threads on the economy. I went to school for Admin of Business, took many econ classes, and owned a pretty large wholesale tobacco corporation. So I have a basic understanding of the market. Most of the people arguing against pexx have no idea how ecomonics work in our world today, and it shows. There is no point in arguing with ignorant people. They just knock you down to their level and beat you with experience.

Thomas Jefferson is rolling in his grave right now.

a reply to: KnoxMSP

I had an argument with someone recently who believed that banks only loaned from a already established pool of capital. They thought that even the 10% fractional reserve lending standard was made up and banks wouldn't be that irresponsible. Trying to explain how loans create money out of thin air was like beating my head against a brick wall.

There are so many simple things that could make a huge difference, like making banks keep loans on their books instead of bundling them up for the greater fool. Simple things like that will be ignored because to even question the free money fairy is a death sentence.

It will be interesting to see how much more pain is left in the host before the it runs dry.

a reply to: dfnj2015

They have a lot of money.. So what..

Nothing stopping you from getting off your ass and making a billion dollars.

Oh, wait.. You have no imagination or innovation. Much easier to just take someone else's money and divvy it up for free..

Yay Socialism.. LOL

So why am I not a billionaire..? I don't want to be one..!! But it is nice to know that the option is available should I ever want to try and make my fortune.

a reply to: Ironclad1964

Try to sell your soul?

originally posted by: Salander
a reply to: Ironclad1964

Try to sell your soul?

If I were going to sell my soul, I wouldn't waste it on fame or fortune..

There's plenty of ways to make a metric F#@kton of cash without having to go to that extreme...lol

Write a few best sellers, then open a fashion label. Or invent something cool. Open a micro brewery and work your way up to bigger things from there. Start a newspaper or magazine.

"Become a YouTube personality"...!!

There are as many ways to make your fortune as there are dollars you can potentially earn.

Some people however, would prefer to wait in the sidelines while you do all the work, then declare socialism and take it from you and give it to themselves..

I call those people lazy... Or Liberals.. Take your pick..

originally posted by: hopenotfeariswhatweneed
a reply to: chr0naut

Are they organic

Doubt it. Manufactured meat. Made in 'Murricah!

originally posted by: Edumakated

Yup. I've pointed that out on numerous threads. Even earning minimum wage in the US puts you in the top 1% of income globally.

Well in that case you've been seriously misinforming people. Minimum wage in the US is 7.25USD per hour acording to what i can find on the web. That equates to an annual earning of just over 15K per year based on a 40 hour working week. That figure is nowhere near the top 1% in the world. A figure of 34K USD apparently gets you into the 1% bracket, but then, even this figure doesn't take into account that 500 dollars goes a lot further in somewhere like India than it will do in America, Western Europe or Japan etc.

Poor in America is like the middle and upper class in most countries.

Again, I'd seriously doubt that statement. If you'd said that the middle class in America was comparable to the upper class in most of the rest of the world I'd be more inclined to accept that. As far as i can see, poor is poor no matter where you are in the world.

Even in our poorest ghettos people have solidly constructed houses, cellphones, running water, clothing, cars, etc. We dont have toddlers running around buck naked with distended bellies and dying if dysentry.

Maybe not, but you do have a life expectancy that's on the decrease. You have entire localities devestated by drugs like crystal meth and most of your major cities are crawling with homeless people. None of these points make a good advert for a rich and prosperous nation.

Go visit any third world shizhole and you can see real poverty. Some favelas or dominican republic, etc.

When you've visited these places yourself rather than just reading about them online then you'll be in a better position to come on here and tell people about them.

A lot of the wealth disparity just comes down to intelligence and hard work.

Some people will invest poorly and not want to work 50 plus hours a week.

Then they question why some have more then others.

Conserve your money.
Dont be liberal with it

a reply to: chr0naut

All Rich People in this World should just Pass Away Right Now , but Before they Go , Leave ALL Their Worldly Wealth to ME . I'll Change the Face of Arrakis and Free All the Fremen from Economic Oppression . I'll Also make it Rain in the Deserts so World Food Production Will Increase , thus Lettlng More Humans come into this God Blessed World ..........