The question is not whether someone can become too rich. The question is what happens when wealth becomes so concentrated that it starts influencing markets, politics, and society itself. An important conversation that more people should be having.
A trillion dollars can’t make Musk a kind or compassionate human. He seems like a very empty man to my eyes and the goal of attaining that level of wealth is really disgusting.
Thanks Dan! Trump is a classic cult leader driven by the lust for power, money and sex (though that seems in very short supply if Melania’s cool to him behaviour is any indication). Keep calling out the lying criminal who deserves the death sentence in my humble opinion
The AI technology stock boom is starting to look like the Internet technology boom in the 1990s which collapsed in 2000 decimating portfolios. What is driving these stocks is more speculation than actual products.
There are a few wealthy people in this world who have decided that rather than hoard their money, they choose to share it with the less fortunate. I have enormous respect for them. For those who would rather sit on their obscene piles of money, I have none. No one who is very wealthy have to share their money, but they should.
One of the last things Joe Biden did for us ordinary Americans as President was to strongly warn us of impending oligarchy, which would ultimately result in the New Feudal States of America. Although he didn't quite go so far as to say that, if one had ears to listen with and a few (just a few needed here) functional brain cells to think with, one realized that it is logically the likely outcome when a formerly free and self-governing people allow themselves to become subservient and complacent, dumbed-down and ignorant, trusting in shysters and money-grabbers, believing in fake news, too lazy to think for themselves. And too chickenshit to do anything about it, even when aspiring to be part of those who would M.A.G.A and lead us away from what could have been a much brighter collective future.
n short, what Mr. Biden was saying was that we're going to have to fight like hell or we won't have a country anymore.
The situation you describe is disgusting and one that is repeated in nations around the globe. The difference now is that the United States is no longer a nation in which the middle class desires for a family home and education for one's children will be achieved easily. Decency, respectability, social responsibility, generosity, and selfless joy are in danger of disappearing from the American culture because of a corrupt and narcissist leader and the MAGA culture that supports him. I am uneasy about the future of this nation for my children and grandchildren. We all need to locate, recognize, nurture, and support good people as leaders.
Why? Why is this allowed to be? Our nation is totally corrupt. Working people pay higher tax rates than millionaires, billionaires, and now a trillionaire. Our social safety net has been decimated, healthcare is a luxury that millions cannot afford, home ownership is way beyond affordable for the overwhelming majority of Americans, and the list goes on. The oligarchs own the government and make the rules. Rule number one is no taxes on the wealthy. The middle class carries all the financial burden of our country. Our national debt is way out of control, not because we are providing sorely needed social services, no. It's because we continue to line the pockets of the oligarchs from our national credit card, be it vanity projects to satisfy the beast in the WH, war for the industrial military complex, shutting down green projects for the fossil fuel industry and tons of other "unfunded" dangerous endeavors. And now that Spacex is the super stock on Wall Street., Pensions, for those who are fortunate enough to have a 401k etal. will definitely be tied to how well Elon is doing. America is no longer the shining light on the hill. America is in total decline and China, the EU and others know this and they are ready to pick up the torch. As an octogenarian, I will probably not be around to see even a glimpse of America's return to "greatness" and world leadership, but I fear that my grandchildren and great grands will be struggling for years to come.
Having super wealthy people is really negative on the economy. Money is useless unless it is circulating. Our economy depends on money flowing through it. For Musk, as an example can’t possibly circulate his trillion dollar wealth so it just sits there; it’s out of circulation and as such does no one any good. A selfish waste at the expense of the US economy. Shameful.
No worries, once the music stops a loaf of bread will cost a trillion dollars. The stock market crash of 1929 happened less than a hundred years ago-we are overdue for another one with a national debt surpassing the GDP so the hole is already dug, we just have not fallen into it yet.
Pro tip: during the Great Depression many who owned debt lost big time-pay your credit card balance every week, if you cannot prepare for the worst. YMMV.
News reports cite that “Musk can’t get his full incentive pay until his Mars colony has 1 million settlers,” but they neglect to mention that — because Musk owns the board of directors — he can nullify that restriction (or any other restraint in the paperwork) at any time.
The American people are beyond shock, but from what we've seen lately, anger is replacing despair.
The question is not whether someone can become too rich. The question is what happens when wealth becomes so concentrated that it starts influencing markets, politics, and society itself. An important conversation that more people should be having.
A trillion dollars can’t make Musk a kind or compassionate human. He seems like a very empty man to my eyes and the goal of attaining that level of wealth is really disgusting.
Thank you! Quite sobering.
Thanks Dan! Trump is a classic cult leader driven by the lust for power, money and sex (though that seems in very short supply if Melania’s cool to him behaviour is any indication). Keep calling out the lying criminal who deserves the death sentence in my humble opinion
The AI technology stock boom is starting to look like the Internet technology boom in the 1990s which collapsed in 2000 decimating portfolios. What is driving these stocks is more speculation than actual products.
There are a few wealthy people in this world who have decided that rather than hoard their money, they choose to share it with the less fortunate. I have enormous respect for them. For those who would rather sit on their obscene piles of money, I have none. No one who is very wealthy have to share their money, but they should.
Greed is a sicknesses. To starve humanity for money is a disgrace to this country.
We must conquer the midterm elections with our Vote to give these billionaires a message. Never underestimate the power of the people.
One of the last things Joe Biden did for us ordinary Americans as President was to strongly warn us of impending oligarchy, which would ultimately result in the New Feudal States of America. Although he didn't quite go so far as to say that, if one had ears to listen with and a few (just a few needed here) functional brain cells to think with, one realized that it is logically the likely outcome when a formerly free and self-governing people allow themselves to become subservient and complacent, dumbed-down and ignorant, trusting in shysters and money-grabbers, believing in fake news, too lazy to think for themselves. And too chickenshit to do anything about it, even when aspiring to be part of those who would M.A.G.A and lead us away from what could have been a much brighter collective future.
n short, what Mr. Biden was saying was that we're going to have to fight like hell or we won't have a country anymore.
I'll say it again and again. Tax billionaires, and now trillionaires, out of existence!
The situation you describe is disgusting and one that is repeated in nations around the globe. The difference now is that the United States is no longer a nation in which the middle class desires for a family home and education for one's children will be achieved easily. Decency, respectability, social responsibility, generosity, and selfless joy are in danger of disappearing from the American culture because of a corrupt and narcissist leader and the MAGA culture that supports him. I am uneasy about the future of this nation for my children and grandchildren. We all need to locate, recognize, nurture, and support good people as leaders.
Why? Why is this allowed to be? Our nation is totally corrupt. Working people pay higher tax rates than millionaires, billionaires, and now a trillionaire. Our social safety net has been decimated, healthcare is a luxury that millions cannot afford, home ownership is way beyond affordable for the overwhelming majority of Americans, and the list goes on. The oligarchs own the government and make the rules. Rule number one is no taxes on the wealthy. The middle class carries all the financial burden of our country. Our national debt is way out of control, not because we are providing sorely needed social services, no. It's because we continue to line the pockets of the oligarchs from our national credit card, be it vanity projects to satisfy the beast in the WH, war for the industrial military complex, shutting down green projects for the fossil fuel industry and tons of other "unfunded" dangerous endeavors. And now that Spacex is the super stock on Wall Street., Pensions, for those who are fortunate enough to have a 401k etal. will definitely be tied to how well Elon is doing. America is no longer the shining light on the hill. America is in total decline and China, the EU and others know this and they are ready to pick up the torch. As an octogenarian, I will probably not be around to see even a glimpse of America's return to "greatness" and world leadership, but I fear that my grandchildren and great grands will be struggling for years to come.
Having super wealthy people is really negative on the economy. Money is useless unless it is circulating. Our economy depends on money flowing through it. For Musk, as an example can’t possibly circulate his trillion dollar wealth so it just sits there; it’s out of circulation and as such does no one any good. A selfish waste at the expense of the US economy. Shameful.
No worries, once the music stops a loaf of bread will cost a trillion dollars. The stock market crash of 1929 happened less than a hundred years ago-we are overdue for another one with a national debt surpassing the GDP so the hole is already dug, we just have not fallen into it yet.
Pro tip: during the Great Depression many who owned debt lost big time-pay your credit card balance every week, if you cannot prepare for the worst. YMMV.
News reports cite that “Musk can’t get his full incentive pay until his Mars colony has 1 million settlers,” but they neglect to mention that — because Musk owns the board of directors — he can nullify that restriction (or any other restraint in the paperwork) at any time.
Truth.