Goesid
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Thats. Thats not what economics is.
US Dollar Collapse
- Thread starter Yapah
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Thats. Thats not what economics is.
Chops
Soccer Dad
The easiest way to get wealthy is to have wealthy parents.
Yapah
Legend
How did the parents get wealthy? You need to provide something of value to society. Even if you’re wealthy you need to maintain that wealth, its really easy to spend ur wealth in a generation or two if you’re not producing. Usually families with wealth deplete it within 3 generations, but the good or service they contributed creates far more prosperity for society in general than it does for them (unless they rig the system so they are always at the top like central bankers).
The wealthy are not the enemy, it’s the royal class that the masses should be protesting against.
Chops
Soccer Dad
Just the most incoherent babble imaginable
no wonder you're dense af lmfao
Yapah
Legend
More like u cant fathom the fact someone could earn more than u, so u gotta steal it through a majority vote saying its ok to steal from the rich if its sanctioned by the govt.
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How do you think wealth is created?
Yapah
Legend
"If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good, also. The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way. It is absurd to say that our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people. " - Thomas Edison, The New York Times, December 6, 1921
"Whosoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realise that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." - James Garfield (assasinated within weeks of release of this statement during first year of his Presidency in 1881)
"Because of 'fractional' reserve system, banks, as a whole, can expand our money supply several times, by making loans and investments." "Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU." - Federal Reserve Bank, New York
"While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. Greed and fear of scarcity are being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely not enough work for everybody in the world, but there is clearly not enough money to pay for it all. In fact, the job of central banks is to create and maintain that currency scarcity. Money is created when banks lend it into existence When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000."- Bernard Lietaer, Former Central Banker
"Whosoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realise that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." - James Garfield (assasinated within weeks of release of this statement during first year of his Presidency in 1881)
"Because of 'fractional' reserve system, banks, as a whole, can expand our money supply several times, by making loans and investments." "Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU." - Federal Reserve Bank, New York
"While economic textbooks claim that people and corporations are competing for markets and resources, I claim that in reality they are competing for money - using markets and resources to do so. Greed and fear of scarcity are being continuously created and amplified as a direct result of the kind of money we are using. For example, we can produce more than enough food to feed everybody, and there is definitely not enough work for everybody in the world, but there is clearly not enough money to pay for it all. In fact, the job of central banks is to create and maintain that currency scarcity. Money is created when banks lend it into existence When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy. The bank expects you to pay back $200,000 over the next 20 years, but it doesn't create the second $100,000 - the interest. Instead, the bank sends you out into the tough world to battle against everybody else to bring back the second $100,000."- Bernard Lietaer, Former Central Banker
Yapah
Legend
In order to accumulate wealth, you need to take risks. You need to reinvest your own money, or invest in someone else. To accumulate wealth, you need to put your wealth on the line. Of course in our current system, many companies are propped up by the govt, passing the profits to the shareholders and the losses to the taxpayers. The problem always comes back to govt interference in free markets that creates the inequality we see today
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How so?
Chops
Soccer Dad
your question was about how wealth is created, not accumulated.
Fuck you're too stupid to even answer your own question
Druiddroid
OG
Getting wealthy and being interested in how economics work are two completely different things.
Yapah
Legend
Can you read? He said wealth created is not the same as wealth accumulated (I was talking about how wealth created provides value and he was saying wealth accumulated doesnt provide value)
So my response was how accumulated wealth also provides value by providing capital to startups (putting his own money on the line and taking the risk of the loss)
i didnt say that you cannot use your wealth, once accumulated for something productive
what i however did say is, the act of accumulating wealth is destructive
maybe try to not be on sick leave when they teach you reading comprehension at school your next life, that'd help!
what i however did say is, the act of accumulating wealth is destructive
maybe try to not be on sick leave when they teach you reading comprehension at school your next life, that'd help!
Yapah
Legend
Accumulation of wealth is very destructive if that one person has a monopoly of a certain market (which is what govt is for) but if he is using his accumulated wealth to reinvest he is creating wealth for himself, the people he invested in (if its successful), and society who willingly wants to purchase that good or service.
Chops
Soccer Dad
You have a very mercantilist understanding of how you think capitalism works...
melabeari
Banned
selling drugs?
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