The world's richest folks doubled their wealth in the last 10 years.

[Cellblock2429]

Unless you're already rich, Wall Street is rigged against you.
Stock buybacks are set to hit a record $1 trillion this year, even as presidential candidates try to restrict them | Markets Insider

I hate it when a company buys back stock and makes the price go up.

Just awful!!

Almost the worst thing ever.

/----/ I can't stand it when a company beats estimates and sends the price soaring.

Companies are the worst.
Poor people should never buy any stock...…..

Somebody has to protect the poor people from making any profits.

/—-/ DemocRATs need to get rid of Trump so they can put a halt to this madness: Wages for typical workers are rising at their fastest rate in a decade

 

[the other mike]

 

[VanceMack]

I don't understand that concept. Individually it's possible, but collectively it is not? How does that work? The collective, is made up of nothing more than a group of individuals.

If any individual can work through college, then obviously any individual can work their way through college, and thus collectively it is possible.

It doesn't matter what the average personal debt is, because that is simply a function of personal choices.

Yes, any individual can in principle, but I'm talking about what will happen in practice. I will amend my statement to "highly improbable" that everyone can work their way through college.

The reality is, it is the debt system that causes us to lose trillions from the economy. Getting people to live debt free, would result in trillions in growth.

Just think about it logically. Under which system is there more goods and services purchased?

A: You buy a $1,000 laptop with cash.
B: You buy a $1,000 laptop on credit.

Which results in more goods and services being purchased? Option A does. Buying the laptop with cash results in more goods and services being purchased.

Why? Because if you buy on credit, that laptop may still cost $1,000, but you pay $1,200, with $200 going to the bank. That $200 going to the bank, is $200 less in goods and services that you can buy.

The reality is to live debt free and pay cash? That's a nice sort of utopia. However, say your laptop and refrigerator are old and barely functional. Your 12 year old car has 170,000 miles on it. Your hospital just sent you a "surprise bill". You have just enough money in the bank to barely pay utilities and mortgage. You have $2000 in savings. What do you do? I don't think you are going to put more money in the stock market and pay cash for everything else.

If every single American in debt, paid down their debt, and were spending an extra $1,750 a year in goods and services, that would be a massive boast to the economy. It would not being trillions lost. It would be trillions gained.

Additionally even in the short term, we would see gains, because when people pay down debts, they usually do so over a period of time. During this period of paying down the debt, they are still active in the economy. Just because you pay an extra $200 on debt, doesn't mean you completely unplug from the economy.

"If every single American in debt...." That is 80% of Americans. Nice in principle, but most don't have the fortitude or capability to pay down debt and buy more stuff.

On the other hand, if you end up bankrupt, you typically end up completely unplugged from the economy. This happened to me. I didn't actually file bankruptcy protection, but I was in fact bankrupt. I had no money, and tons of debt. I ended up having to move back home with my parents, and I basically worked just to pay debt. I didn't buy anything. Not even clothes. I ate at the parents, and had no bills, just pay off debt. I did nothing, but slave for the banks.

What most successful people did in the situation you described was took on a second or third job, bought used appliances, paid off debt, all while continuing to improve on an employment future that provides opportunity for growth. And yeah...that can mean 20-30 years of really and truly busting your ass to see major dividends. But thats how it is done. Success...especially for those that didnt do a great job of preparing themselves for it as teenagers...comes with long periods of sustained hard work with a clearly defined goal. And even though it is hard (always has been) success is as attainable now as it has always been.
Good move. But that is a case in point. You were following the 80%. But a family of four can't move back to their parents and stop spending.

 

[VanceMack]

:lamo

Your videos are comedy. They have no basis in reality. Everything offered assumes that somewhere out ther there is a magic wealth distribution fairy (WDF) and the WDF is just distributing the wealth of the world to the rich...not to all people equally.Whats truly sad is they KNOW that if they start using words like 'distribution' and fair', muttonheads will hear it and think..."yeah! Its NOT fair...we deserve MORE!!! How come the WDF doesnt give US more money?"

Which is of course, bullshit, because Jeff Bezos did not have his wealth magically distributed to him...he earned it.