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Do you want me to state listing all the billionaires who keep investing?
Warren Buffet is rumored to be looking at investing in an airline. Your logic, obviously flawed, is that he should have stopped investing when he made his first billion. Did he? No.
Do you want me to state listing all the billionaires who keep investing?
Warren Buffet is rumored to be looking at investing in an airline. Your logic, obviously flawed, is that he should have stopped investing when he made his first billion. Did he? No.
Your emotion doesn't trump reality.
How does a billionaire buying up existing shares of an existing company benefit anyone other than said billionaire?
How does a billionaire buying up existing shares of an existing company benefit anyone other than said billionaire?
When stock is sold, where do you think that money goes?
Look at my post about Intel. After these millionaires (billionaires by today's standards) formed Intel, they sold stock to finance the enormous costs of setting up a semiconductor fabrication plant. They then used the money to fund the long term R&D costs associated with developing the first microprocessor. Without that, no Internet, no smart phones, no CD forums.
You apparently do not understand the stock market or capitalism.
Who is more likely to open a manufacturing facility or biotech startup, a person with $1 billion or $100,000?
Supply side economics: build it and they will come!
Nope.
The economy grows through demand. The billionaires will surely invest, but so will the millionaires and the thousandaires ... if the project has a chance to make a healthy return. If there is demand, the investment money will be available, whether from many hands or just a few.
Enter: demand.
If there is expendable income or capital it will drive a market. Merely concentrating wealth in the few will not drive an economy, the money must satisfy some actual demand. One might think this is some kind of chicken-egg dilemma, but it's not.
The more the money is spread around the more will circulate. Concentrate the money in a few hoards and this normal healthy activity will choke off, and the middle class misses opportunities.
Money that accumulates in great hoards to no purpose begins to lose value. Just like warehouses full of stock that won't move, shopping malls with empty storefronts and biotech companies with no customers.
Who is more likely to open a manufacturing facility or biotech startup, a person with $1 billion or $100,000?
Who's more likely to buy homes, cars, refrigerators, bread and milk? Who's more likely to make that impact since over 60 percent of the economy is driven by consumer spending.
Of course, the OP makes it seem that the one person with a billion dollar exists in a vacuum, which is false. No, the billionaire will either directly (through a company) or indirectly (through investments, which must be managed) employ hundreds/thousands of people, helping to sustain/build a middle class in that way.
Who's more likely to buy homes, cars, refrigerators, bread and milk? Who's more likely to make that impact since over 60 percent of the economy is driven by consumer spending.
Who's more likely to build companies like SpaceX, that continues to put up the satellites we're more dependent on than you realize?
Who's more likely to build the biotech company that cures MS? Or cancer?
Who's more likely to build the high-tech company that will create the breakthrough that finally gets us off fossil fuels?
Who's more likely to create warp drive?
Ok, forget the last one, but hopefully you get my point.
BTW, rich people buy the things you mentioned too. Just sayin'.
Who's more likely to build companies like SpaceX, that continues to put up the satellites we're more dependent on than you realize?
Who's more likely to build the biotech company that cures MS? Or cancer?
Who's more likely to build the high-tech company that will create the breakthrough that finally gets us off fossil fuels?
Who's more likely to create warp drive?
Ok, forget the last one, but hopefully you get my point.
BTW, rich people buy the things you mentioned too. Just sayin'.
Far more likely is that they will use their wealth to rig the economy to their advantage through the corrupt system of political campaign funding. Controlling the political system and the judiciary, they can to a large extent monopolize large sections of the economy, creating a tiny super rich elite acting like modern day royalty and weaken opportunities for the masses and weaken the national security of the country, as their interests are not aligned with the interests of the people nor the country.
Far more likely is that they will use their wealth to rig the economy to their advantage through the corrupt system of political campaign funding. Controlling the political system and the judiciary, they can to a large extent monopolize large sections of the economy, creating a tiny super rich elite acting like modern day royalty and weaken opportunities for the masses and weaken the national security of the country, as their interests are not aligned with the interests of the people nor the country.
Sorry. Fail.
It's been working like I described for many decades. New products keep coming to market, new technologies keep being developed, and life is much better than most people realize.
For goodness sake, open your eyes. The stock market is sitting at an all-time record high as I type this! Sure, some of that money is corrupt, but the majority of it is funding science and research jobs out the wazoo.
I am so thankful I do not possess your pessimistic outlook. Crazy.
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