Are the .1% are shooting themselves in the foot by hording.
Post Reply
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
17-10-2017, 11:54 AM
Are the .1% are shooting themselves in the foot by hording.
Are the .1% are shooting themselves in the foot by hording.

Presently, the rich preside over a demographic pyramid that is top shaped and de-stabled.

Ironically, because the rich have put themselves so far from the base, they themselves have become the most unstable part of the pyramid. This is not good for the rich.

Trickle down, an economic concept which is what we all live in, if increased would remedy the stability problem.

With the world below being de-stabilized by the rich, due to their distance from the bottom, and the rich knowing the benefits of stability, would be well advised to lower its demographic position and bring profits to the whole demography.

To the rich, with profits to all being possible, I would ask, what are you waiting for?

Regards
DL
Find all posts by this user
Like Post Quote this message in a reply
[+] 1 user Likes Greatest I am's post
17-10-2017, 12:08 PM
RE: Are the .1% are shooting themselves in the foot by hording.
(17-10-2017 11:54 AM)Greatest I am Wrote:  Are the .1% are shooting themselves in the foot by hording.

Presently, the rich preside over a demographic pyramid that is top shaped and de-stabled.

Ironically, because the rich have put themselves so far from the base, they themselves have become the most unstable part of the pyramid. This is not good for the rich.

Trickle down, an economic concept which is what we all live in, if increased would remedy the stability problem.

With the world below being de-stabilized by the rich, due to their distance from the bottom, and the rich knowing the benefits of stability, would be well advised to lower its demographic position and bring profits to the whole demography.

To the rich, with profits to all being possible, I would ask, what are you waiting for?

Regards
DL

> Where does hoarding come into the equation? Consider
Find all posts by this user
Like Post Quote this message in a reply
17-10-2017, 12:15 PM
RE: Are the .1% are shooting themselves in the foot by hording.
The trickle-down effect's certainly not evident in Australia. Sadcryface

I'm a creationist... I believe that man created God.
Find all posts by this user
Like Post Quote this message in a reply
17-10-2017, 12:43 PM
RE: Are the .1% are shooting themselves in the foot by hording.
(17-10-2017 11:54 AM)Greatest I am Wrote:  Are the .1% are shooting themselves in the foot by hording.

"In 2014, just 160,000 families [in the U.S.], each with a net worth in excess of $20.6 million, counted themselves among the wealthiest 0.1 percent of households. Together, they owned nearly as much as everyone from the very poor to the upper middle class combined -- 90 percent of the country, some 145 million families in total. Those statistics are from a recent paper by Emmanuel Saez of the University of California, Berkeley and Garbiel Zucman of the London School of Economics."

https://www.washingtonpost.com/news/wonk...bottom-90/

The richest of the rich certainly are accumulating more wealth, which I guess could be called hording. A lot of that money goes into various investments, so effectively they are putting that money to work in various ways which help other people. However, I also believe it would be better for everyone if we all shared more equally in the wealth we all create together. And I believe most economists would agree that we need a stronger middle class to make the economy run optimally.

Trickle down economics has been demonstrated to be ineffective. What we need is trickle up economics. Make sure more people are valued for the work they do, and have money to spend.
Find all posts by this user
Like Post Quote this message in a reply
[+] 2 users Like Thoreauvian's post
17-10-2017, 12:45 PM
RE: Are the .1% are shooting themselves in the foot by hording.
HoArding is only a problem for the wealthy in this sense: they are undermining their own markets. As the middle class dries up, there's no one to buy their trendy products but their own kind. Poor people can't afford iPhones and rich people don't buy enough to support the market. There goes economy of scale and the raison d'etre of one of our largest and most innovative corporations. Look at the economic engines of capitalism in the West and it's all stuff that depends on large numbers of people with sufficient disposable income sustaining volume demand.

During the past US election a hedge fund manager (don't recall his name anymore) backed Bernie Sanders for exactly this reason, he felt his fellow investors and entrepreneurs were cutting off their nose to spite their faces via overreach. I think this guy's thinking will come back to haunt the elites before long.
Find all posts by this user
Like Post Quote this message in a reply
[+] 2 users Like mordant's post
17-10-2017, 01:53 PM (This post was last modified: 17-10-2017 01:57 PM by Rockblossom.)
RE: Are the .1% are shooting themselves in the foot by hording.
(17-10-2017 12:45 PM)mordant Wrote:  HoArding is only a problem for the wealthy in this sense: they are undermining their own markets. As the middle class dries up, there's no one to buy their trendy products but their own kind. Poor people can't afford iPhones and rich people don't buy enough to support the market.

In the USA, a big slice of the richest people make their money on the very things that the "little people" buy or use.

#1. Bill Gates/Microsoft. A big swath of the working class either owns or works on computers running Windows.

#2. Jeff Bezos/Amazon. Amazon runs on economies of scale tailored to everyday products used by lots of people.

#4. Mark Zuckerberg/Facebook. It's not the rich people using Facebook.

#6&7. The Koch brothers/coal/energy/agriculture/fertilizer/packaging. Products like canned foods and toilet paper. Every time you go grocery shopping, there's a strong probability that you are buying products made by Koch Industries.

#9. Larry Page/Google. Do Google searches, have a gmail address, or use Chrome?

#11,12&13. Walton family. It's not the rich people who shop at Walmart.

etc.etc.

No. The 99% are the customers buying the products making the 1% richer.

https://www.forbes.com/sites/forbespr/20...18abca562f
Find all posts by this user
Like Post Quote this message in a reply
[+] 4 users Like Rockblossom's post
17-10-2017, 03:16 PM
RE: Are the .1% are shooting themselves in the foot by hording.
(17-10-2017 12:43 PM)Thoreauvian Wrote:  And I believe most economists would agree that we need a stronger middle class to make the economy run optimally.

Eh, kinda. A strong and expanding middle class is the result of strong, well defined, and sound economic policies. If you start with a strong middle class but have terrible economic policies that middle class will shrink and be harmed.

It is held that valour is the chiefest virtue and most dignifies the haver.
Find all posts by this user
Like Post Quote this message in a reply
[+] 2 users Like WhiskeyDebates's post
17-10-2017, 03:44 PM
RE: Are the .1% are shooting themselves in the foot by hording.
(17-10-2017 12:08 PM)Gwaithmir Wrote:  > Where does hoarding come into the equation? Consider

[Image: scrooge_hoards.jpg]

[Image: dobie.png]Science is the process we've designed to be responsible for generating our best guess as to what the fuck is going on. Girly Man
Find all posts by this user
Like Post Quote this message in a reply
[+] 1 user Likes Dom's post
17-10-2017, 04:13 PM
RE: Are the .1% are shooting themselves in the foot by hording.
(17-10-2017 01:53 PM)Rockblossom Wrote:  The 99% are the customers buying the products making the 1% richer.

Don't forget all the movie stars, sports figures, celebrities, and so on. We value some people too highly and many people not enough.
Find all posts by this user
Like Post Quote this message in a reply
[+] 4 users Like Thoreauvian's post
17-10-2017, 04:42 PM
RE: Are the .1% are shooting themselves in the foot by hording.
The OP is partially correct, but it’s not just the 0.1% that are hoarding money, see The Velocity of Money.

Definition of Velocity of Money:
The frequency at which the average same unit of currency is used to purchase newly domestically-produced goods and services within a given time period. In other words, it is the number of times one unit of money is spent to buy goods and services per unit of time.

The one thing that does bear out the OP is that large piles of cash not being infused into the economy eventually will cause the economy to stall. How the Declining Velocity of Money Could Show a Stalling Economy

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
Find all posts by this user
Like Post Quote this message in a reply
[+] 2 users Like Full Circle's post
Post Reply
Forum Jump: