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Just Be Rich

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Re: Just Be Rich

#121

Post by adrianN »

ac29 wrote: post #100
donnythecroc wrote: post #64

Earlier quoted context omitted.

The problem is all down to the basic human need of a home. In the 70s and 80s even 90s someone on a teacher's salary could own their own home in a major world city - say London. Now, literally zero chance. Because homes have become an asset class and the rich can outbid regular people so they are pushed out. That's the problem. I couldn't care less how many billionaires there are if regular people can afford a decent…

World population crossed 4B in the 1970s and 5B in the 1980s, now we are about to cross 8B in the next few years. I agree with your point about real estate becoming more heavily securitized, as well as being used as a method to escape capital controls. But, you cant ignore the fact that there are a lot more people both rich and working class competing for those major world city houses than there were 40 or 50 years a…

Population in Germany has been pretty much constant since 1970. I'm relatively sure that this is true in many other developed nations too. A more important factor than total population is the fraction of people who want to live in a big city. Urbanization has been ongoing, because jobs have increasingly moved to urban centers. Real estate in small villages is quite cheap.

Re: Just Be Rich

#122

Post by eximius »

readthenotes1 wrote: post #33
eximius wrote: post #19

Earlier quoted context omitted.

Few. And those that do are individually expendable. The businesses will stay.

Or not. https://en.m.wikipedia.org/wiki/Tax_inversion#:~:text=The%20... .

"100 material inversions"

It's rare and also not relevant to businesses because I don't think wealth taxes targets corporations?

Re: Just Be Rich

#123

Post by TheTrotters »

ac29 wrote: post #100
donnythecroc wrote: post #64

Earlier quoted context omitted.

The problem is all down to the basic human need of a home. In the 70s and 80s even 90s someone on a teacher's salary could own their own home in a major world city - say London. Now, literally zero chance. Because homes have become an asset class and the rich can outbid regular people so they are pushed out. That's the problem. I couldn't care less how many billionaires there are if regular people can afford a decent…

World population crossed 4B in the 1970s and 5B in the 1980s, now we are about to cross 8B in the next few years. I agree with your point about real estate becoming more heavily securitized, as well as being used as a method to escape capital controls. But, you cant ignore the fact that there are a lot more people both rich and working class competing for those major world city houses than there were 40 or 50 years a…

The obvious solution is to build more housing. We know how to do that! The obstacle is politics, not technology or economics.

Re: Just Be Rich

#124

Post by ashtonkem »

ironman1478 wrote: post #48
d_silin wrote: post #7

A lot of people who are just as smart and motived as Elon Musk or Steve Jobs will never be able to start their own companies and get rich. Because they have family obligations that take priority. Because they live outside high-income countries. Because they have no access to support network, so when they fail, they fall all the way to bottom. Because they may have made a crippling mistake in their pasts that now prev…

This. Poverty doesn't just cause immediate issues it can also cause long term issues that can effect not only adults, but the children who grew up in that environment. This is largely because families in poverty tend to also abuse their kids at higher rates (this includes mental abuse) or at least foster an extremely unhealthy environment due to the stress it causes. So even a generation later it can be difficult for…

Don't forget malnutrition. High quality calories are expensive.

Re: Just Be Rich

#125

Post by yladiz »

EvilEy3 wrote: post #110
d_silin wrote: post #7

A lot of people who are just as smart and motived as Elon Musk or Steve Jobs will never be able to start their own companies and get rich. Because they have family obligations that take priority. Because they live outside high-income countries. Because they have no access to support network, so when they fail, they fall all the way to bottom. Because they may have made a crippling mistake in their pasts that now prev…

> Because they have family obligations that take priority. Is that "I have kids!" I hear now? > Because they live outside high-income countries. Well then move to high-income country. > Because they have no access to support network, so when they fail, they fall all the way to bottom. That's unfortunate, but that's life. A lot of people don't have that safety. And not all of them are poor. > Because they may have mad…

> I "potentially" could've been next Ali, Tyson or Lomachenko, I'm not. Is that because if my mistake, or mistake of my parents or who else?

It's unfortunate, but yes it's your mistake and your mistake alone, not any outside factor like genetics. You should work harder, get stronger, be better to reach your potential and achieve the dream.

Re: Just Be Rich

#126

Post by arvinsim »

stickfigure wrote: post #84
ashneo76 wrote: post #4

A very well thought out and articulated essay. Essential to get the billionaires of the pedestal that they have perched on. Put your money where your mouth is and fund the wealth tax. Personally, I vehemently disagree with the 10x programmer narrative in IT. It fuels " management provides more value than replaceable workers". If there were no workers, then management is just sitting there coming up with random ideas.…

> I vehemently disagree with the 10x programmer narrative in IT. It fuels "management provides more value than replaceable workers". Eh? It's the 10X programmer narrative, not the 10X manager narrative. The lesson is that some workers are vastly less replaceable than others, which is quite empowering for talent.

I am pretty sure that more 1x managers around the world are paid more than 10x programmers

Re: Just Be Rich

#127

Post by zachkatz »

teraku wrote: post #113
saddlerustle wrote: post #103

Earlier quoted context omitted.

Pretty much every mainstream economist put the blame for this squarely on the massively increased regulation of the housing market since the 70s causing a massive decrease in the amount of new construction, not wealth itself.

Hahahahahahahahahahahahahahahahahahahaha What? Seriously?

https://www.strongtowns.org/journal/2019/7/3/making-normal-n...

Re: Just Be Rich

#129

Post by 1vuio0pswjnm7 »

d_silin wrote: post #7

A lot of people who are just as smart and motived as Elon Musk or Steve Jobs will never be able to start their own companies and get rich. Because they have family obligations that take priority. Because they live outside high-income countries. Because they have no access to support network, so when they fail, they fall all the way to bottom. Because they may have made a crippling mistake in their pasts that now prev…

"A lot of people who are just as smart and motivated as ..."

Wealth is not synonymous with intelligence. And certainly not with motivation.

A lot of people who are wealthy will never be as smart as ... nor as motivated.

Re: Just Be Rich

#130

Post by mnsc »

saddlerustle wrote: post #103
donnythecroc wrote: post #64

Earlier quoted context omitted.

The problem is all down to the basic human need of a home. In the 70s and 80s even 90s someone on a teacher's salary could own their own home in a major world city - say London. Now, literally zero chance. Because homes have become an asset class and the rich can outbid regular people so they are pushed out. That's the problem. I couldn't care less how many billionaires there are if regular people can afford a decent…

Pretty much every mainstream economist put the blame for this squarely on the massively increased regulation of the housing market since the 70s causing a massive decrease in the amount of new construction, not wealth itself.

Pretty much every mainstream economist defending the mainstream economy to preserve the status quo in that widening the income gap is a good thing for the mainstream economy you mean?
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