Thanks, I didn’t know the reference.
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I knew who the correct answer was, and I figured when @frauenfelder said he was surprised that it wasn’t Bezos that the video would give the correct answer at the end. But then it gave Leonid Mikhelson as the “wealthiest Russian people by net worth” at 5:17 and I assumed the video would give the incorrect answer since Putin is both a “Russian people” and the correct answer. Then the video did give the correct answer of Putin after all, so the video was intentionally deceptive.
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He did claim that he was “absolutely” going to release his tax returns if he ran for President when he was interviewed in the 2014/2015 time frame. In 2016, he said that he wanted to, but they were under audit so he couldn’t (which is bs). Then he said that if he won, he would relase his tax returns. Then he won, and he said that “no one wants to see them now,” which wasn’t true at all. A few months later, Kellyanne said that the issue of his tax returns had been “litigated” in the campaign and since he won, it was a non-issue.
Just lies, built on a foundation of lies, layered with lies, covered with an icing of lies, and then sprinkled with more lies. In other words, typical Trump World.
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The german billionaires are the owners of Aldi Stores. Aldi is short for “ALbrechts DIscount”. The company was founded by the Albrecht brothers who were known as some of the richest germans, they both died a couple of years ago, so I suppose the bloke is their heir.
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Thanks for saving people wasting 5 minutes for exactly that information.
What I find curious is that Bill Gates still has so much money even after giving a lot of it away.
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Inherited wealth in trust, they dont do any thing any more, 28 generations ago some one did something, and they have just leant their money out since and sat back and watched it grow.
But the number one thing they did, was raise their children write and have no gamblers, its amazing how many rich people are not longer rich cos they like to spend to much on the horses or roulette.
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Cos hes not given it away, hes just said he will, most of it hes not giving away till he dies…
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It turns out that the retirement planning people they bring in to sell you on the merits of a 401k plan are right: compound interest is super effective. So super effective, in fact, that when you have wealth on a scale like Bill Gates does, you literally can’t give it away faster than you “make” it.
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Yeah, well, in that case fuck compound interest and the horse it rode in on.
Behind every great fortune lies a great crime.
- Honore de Balzac
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Compound interest on assets is good, but we also have compound interest on debts and there a lot of those debt burdens on living life in 2019. On top of that, there’s no effort to increase the spending of wealth outside of philanthropy so it just accumulates.
So the accumulation of wealth is the bad part, and the compounded draining of wealth from the lower 99% of incomes/wealth (which mostly then goes into the coffers of accumulated wealth) is just an extra contributing bad part.
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Compound interest is a consequence of a system that is built on perpetual growth. There is other ways of creating economies that benefit everyone and respect that our planet carries a finite amount of some resources.
Therefore: compound interest of assets is not good, but a telltale sign of a flawed system.
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Crime only pays if you’re actually good at the business part of it.
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@anon3072533 YOU GET ME!
Thank you for explaining it. Peace and long life, Zfirphdn.
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Well said. There are a bajillion (to use a technical term) ways one can structure an economy, yet so many people think that the one we have is the only possible one, or the best. Those of us with either deep understanding of economics, or perhaps even just a little common sense, know that this is BS.
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I mean, did you watch all the way to the end?
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It is awful, this video is what I call a blinder or blinker, it main purpose is to direct the viewer to adopt the same opinion of the maker of it. It is very, very incomplete in numbers and in qualifying the cited billionaires, to the point to be seen as intentional and manipulative. The list does not include other heads of state and their family members that fit in the same “class” of money usurpers as the its last member. The question that remains that it might be the intention of the video to associate big money owners with the idea of cleptocracy.
Really - a radar graph would have been much more helpful.
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He (because it’s rarely a she) who has big money inevitably took it from the poor in some way or another. I don’t think it’s really worth discussing whether or not this happens through Cleptocracy or just plain old capitalism, they’re both just two sides of the same coin.
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