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

Discussion in 'Stock Market' started by Angelo, Dec 27, 2019.

  1. Flash
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    Flash Diamond Member

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    This a full employment economy now thanks to Trump. If you would starve then it would be your own damn fault.

    With less taxes people would have more money to contribute to charity to help those few that really need help. After all the Bible teaches that charity should come from the heart, church and family. Nothing about a big bloated corrupt debt ridden welfare state.

    It is morally wrong for the government to steal your many and give it away to somebody else. You should have the Liberty to decide if you want to help somebody else or not. You do believe in Liberty, don't you? If you are a Left then I doubt you do.
     
  2. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Not like I just made it up.

    Yeah, your 26 year old British socialist author is very convincing. LOL!
     
  3. DGS49
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    DGS49 Gold Member

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    Worrying about "inequality" is sort of a litmus test for morons.

    People who are not morons understand that it costs them nothing when someone else accumulates wealth, and also that the accumulation of wealth by so many people is proof that THEY, TOO can accumulate wealth. No guarantees, but it can happen.

    Non-morons also know that if there is "wealth problem," it is not that Rich People are getting richer, but that lots of poor people remain poor, through no fault of their own. If "we" focus our attention on those endemically poor people who are doing everything right but still can't get ahead, "we" will all be a lot better off. And while there will always be disagreement about what to do about endemic poverty, at least we can ALL agree that it is worthy of fighting, together.

    But by focusing on "inequality," morons take their eye off the figurative ball and generate envy rather than mobilizing useful energy for a worthwhile cause.

    One more reason why I hate Leftists.
     
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  4. Angelo
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    Angelo Gold Member

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    The previous 2 posters' hero ;
    [​IMG]
     
  5. Markle
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    Markle Gold Member Gold Supporting Member Supporting Member

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    [​IMG]

    9 Surprising Facts About Welfare Recipients
     
  6. Andylusion
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    Andylusion Gold Member

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    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.

    If all those people significantly lowered their debt by lowering spending then less goods would be manufactured. Trillions would be lost from the economy, and eventually my stock would go down, but that's the way it is, It seems that the US economy is very strong now, but its a fragile strength. Everyone -- government, corporations, citizens -- are interested in short term prosperity at the risk of long term stability.

    Nonsense. That's what the banks want us to believe, because debt is what the banks live off of. The reality isn't close to that.

    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.

    If you buy the laptop with cash, then you have $200 you didn't send to the bank, that you can buy goods and services with.

    The average American, is shelling out $850 in credit interest per year, and $900 in car interest per year.

    That is $1,750 of goods and services they could be buying, that they are instead sending to the banks.

    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.

    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.

    That is far more negative to the economy, to be completely unplugged to pay debt, than it is to wisely budget to pay down debt over a period of time. But I didn't have a choice. The debt was so large, and my income so small at that time, that it was either disconnect from all of society, and just pay debt, or I was going to end up sued by a bank.

    So I reject this notion that if everyone started paying down their debts, that there would be a huge negative cost. No, I suggest it would be entirely positive.
     
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  7. Andylusion
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    Andylusion Gold Member

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    Irony being, that between us and you, you are the one complaining that other people have money. That makes YOU the greedy one.
     
  8. Andylusion
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    Andylusion Gold Member

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    You do realize that when the stock market crashes, the stocks are on sale, right?

    That is literally how I doubled my money in 2007. When the stock prices were falling, I was buying them.

    How can you "Buy low, and sell high", if you first don't "buy low"?

    Because stocks don't just keep falling until they are worth zero. That never happens, because the companies still exist. Apple's stock price can drop 50%, and I'd still buy the stock... because Apple isn't going anywhere.

    So instead of freaking out... start investing.
     
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  9. Angelo
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    Angelo Gold Member

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    What you just said is
    "When the tornado hit, my house was the only one in the neighborhood still standing." , and you attribute it to being smarter than everyone else, not just lucky that God wasn't ready to take you that day.
     
  10. Wuwei
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    Wuwei Gold Member

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    That's good. One down and 80% of the rest of Americans to go.
     

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