But we’re told Warren Buffet is the good kind.
He is!
https://givingpledge.org/pledger?pledgerId=177
There’s an Indian parable about a rich man. Every time a beggar asks for money, he gives it, until he has no more to give and is himself a beggar.
You can’t give it all up and expect to continue contributing.
Every time a beggar asks for money, he gives it, until he has no more to give
Why would the rich man ever run out? Wealth isn’t merely a pile of currency, it is a collection of wealth producing assets.
A man who collects $1000/day in rents will never have less than $1000/day to give to beggers.
The harder question to answer is why some of us pay others for the privilege of accessing public goods.
Yup.
- Open the rich like tauntauns
- Live inside them
- Housing crisis solved
So who’s going to have the balls for the job?
Not me. However there are 8 billion people in the world. I have my doubts that you can continue squeezing everyone as hard as you can without them eventually getting pissed and fight back.
The number of poor people in the world greatly out numbers these rich fucks. No amount of political posturing or technology will save them. You reap what you sow and what they have sowed is civil unrest.
It might not seem like it today, but judgement day is coming.
Issues with this post/CNN article:
1 - Where is Mark Zuckerberg in the photo? He is currently the 3rd richest.
2 - The article is a year old - Musk’s net worth has went up $223 billion just in calendar year 2024 alone.
So, the article is technically right (fortunes have more than doubled) but some billionaires have tripled or more.Wealth of billionaires almost 5 years ago - Jan 1, 2020
Wealth of billionaires today - Dec 27, 2024
Just in that 5 year period Elon Musk went from $27 billion to $452 billion!
Zuckerberg almost tripled and Larry Ellison almost quadrupled!
Other non-top 5 billionaires like Michael Dell went from $30 billion to $127 billion!
Jensen Huang (founder of NVIDIA) went from $5.73 billion to $120 billion! - so his wealth multiplied by a factor of more than 20!All of those gains posted above happened in a short 5 year period. So, saying billionaires have doubled
their net worth is technically accurate but it’s not showing you the insanity of what’s really going on.This is the natural result of decades of sustained exponential growth. At roughly 10%/yr, markets will double every 7-8 years. That’s three doubling times in about 25 years, or 2^3 which is 8x. And that’s how you get a house that was like $100k-$200k in the year 2000 to turn into a house for like $800k-$1.2m in 2024. It’s only going to get worse.
Surely completely unrelated statistics.
Extreme wealth hoarding is an inherent end result of capitalism, which we could eliminate by capping wealth and channeling all excess income directly to public use. This would not be easy AT ALL because of the political opposition (which is mostly conditioning). But we won’t do it, instead we will wait until the problem gets so bad it causes a revolt and then we’ll blame the revolters.
Infinite pie evangelists in shambles.
Hey, look! It’s me! I’m a statistic now!
That money has to come from somewhere.
