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Old 05-13-2018, 08:58 AM
 
Location: Houston
20,981 posts, read 10,618,862 times
Reputation: 8211

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Wealth converges during recessions.
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Old 05-13-2018, 09:06 AM
 
5,220 posts, read 2,375,434 times
Reputation: 5111
Quote:
Originally Posted by cebuan View Post
So you think if a tree grows, and a man points to it and tells a man with a saw to cut it down, and he sells the timber, and gives 20% to the logger, it is the man who pointed to the tree who created the wealth.
Yep.

Cutting down the tree is the lowest component and least value added part of this bit of wealth. Managing the harvesting of the tree, knowing which tree to harvest, bringing the tree to a mill or to market, and owning the land or having the rights to cut the tree is where the real wealth is created. And that goes to the man that merely pointed at the tree to be cut.
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Old 05-13-2018, 09:10 AM
 
220 posts, read 84,575 times
Reputation: 739
Quote:
Originally Posted by stockwiz View Post
World's richest 1% grabbed 82% of all wealth created in 2017, Oxfam study finds

More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
If you think capitalism is greed and that wealth redistribution is morally sound, I have a bridge in Venezuela you might be interested in.

Egalitarianism is slavery wrapped in the seductive promise of a Utopian society that is always 15 to 20 years down the road.

You know, in Venezuela, the army is deserting, the population is eating the zoo animals, and life is generally miserable for all but friends of Chavez/Maduro. And some of those lucky socialists have moved to Florida and bought big, walled houses. Suffering is for others. The little people.

You have to have some good scratch to buy those kinds of properties. How do you think they got so rich in a country where capitalist enterprises are nationalized for the benefit of "all"?
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Old 05-13-2018, 09:26 AM
 
2,240 posts, read 1,385,700 times
Reputation: 4894
Quote:
Originally Posted by TaxPhd View Post
So, created wealth goes to those that create it. Iím OK with that. Arenít you?
Sweet sweet property rights. One of the most important developmental traits that separates the global powerhouses from the basketcases.
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Old 05-13-2018, 09:46 AM
 
3,526 posts, read 1,985,593 times
Reputation: 6109
The worst thing is the consumption levels are currently being sustained heavily though debt. Public private and personal debt is at an all time high in this country. Leverage works to increase gains but on the downside it is a killer.

We are in for hard times when debt markets collapse. People could be extremely violent when basic needs are being shut off.
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Old 05-13-2018, 09:57 AM
 
Location: Montgomery County, PA
13,633 posts, read 8,654,691 times
Reputation: 11225
The 1% who "grabbed" 82% of all wealth created are probably the same people who are paying 82% of all the money spent on the poor. You like to see what a country looks like without the one percent, look at Kenya. Happy there?
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Old 05-13-2018, 10:17 AM
 
3,454 posts, read 1,978,113 times
Reputation: 7830
Quote:
Originally Posted by TaxPhd View Post
Yep.

Cutting down the tree is the lowest component and least value added part of this bit of wealth. Managing the harvesting of the tree, knowing which tree to harvest, bringing the tree to a mill or to market, and owning the land or having the rights to cut the tree is where the real wealth is created. And that goes to the man that merely pointed at the tree to be cut.
If that were the case I'd be richer. I have several trees on my property.

Nope, it won't create wealth for me, rather it will create wealth for the man cutting them down, ad he wanted a small fortune from me to cut them down. Then HE gets to keep the wood and sell the wood for fire burning and wood chips for cash I'll never see.

I get nothing out of my trees, but they will sure costs me a lot if money if I want them gone.

Something is wrong with that system.

Bad example.

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Old 05-13-2018, 10:21 AM
 
Location: Prepperland
13,115 posts, read 9,199,435 times
Reputation: 8982
If you only think in terms of money, nothing makes sense.

Let's consider prosperity - the prodigious production, equitable trade and enjoyment of surplus usable goods and services.

Do the 1% really consume 82% of the food produced?
The shoes produced?
The clothes produced?
The entertainment produced?
Not really.

So what are they really acquiring?
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Old 05-13-2018, 10:31 AM
 
5,220 posts, read 2,375,434 times
Reputation: 5111
Quote:
Originally Posted by galaxyhi View Post
If that were the case I'd be richer. I have several trees on my property.

Nope, it won't create wealth for me, rather it will create wealth for the man cutting them down, ad he wanted a small fortune from me to cut them down. Then HE gets to keep the wood and sell the wood for fire burning and wood chips for cash I'll never see.

I get nothing out of my trees, but they will sure costs me a lot if money if I want them gone.

Something is wrong with that system.

Bad example.

Your inability to generate income from your assets does nothing to render my example as "bad." It's unfortunate if you are unable to understand the point.
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Old 05-13-2018, 10:56 AM
 
Location: Oregon, formerly Texas
5,242 posts, read 3,393,710 times
Reputation: 8778
Wow, there are a lot of people on here that fellatiate the rich..... even though they'll never get close.

Its understandable. When I watch Game of Thrones, I like to imagine that I'd be one of the Lords.

I'm actually somewhat impressed that everyone else got 18%.
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