Why on earth does one person have to amass 19Billion dollars when Most can’t even save a few dollars.? I don’t get it! What exactly has he done with all that? Really makes a person think about capitalism!!
Talk, like Ray Dalio's is cheap. To know what you are doing is wrong, dangerous to the economic well being of the Country in which you live; is truly disgusting. Nick Hanauer said much the same thing, as did Warren Buffett. But they still take those irresponsible tax breaks and loopholes, they still keep their fortunes, and they still buy politicians.
When you’ve leveraged the pension funds of others to generate billions of dollars to own ALL the politicians, squeeze the juice out of ALL the assets to the detriment of others, and pay a lower tax rate than the folks you leveraged are paying, will you ever be satisfied?
When do you have enough?
Is there no joy in leaving the planet or the lives of other humans better off? Life’s short and you can’t take the billions with you when you die.
There must be more to life than counting how many billions you have. What about your impact on society and the planet?
Rupert Murdoch & the Dominion litigation comes to mind. From reading the transcript, money & the profit motive are the ONLY things that matter.
Amazing that the impact on their audience of the deliberate lies & deception are a non-issue.
This enlightening piece made my stomach turn. I am so sick and tired of this capitalistic greed. So many of us have struggled hard just to keep a roof over our heads and food in our tummies, and watched as million/billionaires hoard their dollars and pay not a red cent in taxes! Meanwhile our own pitiable bank accounts dwindle and the prospect of retirement becomes further and further away… *sigh* I am sick and tired of being sick and tired of the greed in this country. 🌻
We know. We see. And still nothing will change until money’s taken out of politics - the key lies there. Then it’ll be a clear path to taxing the rich and closing the loopholes.
This is exactly why Capitalism is out of control and the greed of these companies/ corporations may be responsible for the collapse of capitalism worldwide
What I most have a problem with is all these mostly white entitled guys choosing where to put their do-good $$ ....think Gates, Dallo, Musk, Buffet, Branson etc. Few make the 'right" choices. But the $$ they make and spend are at the expense of everyone else. So rather than society getting to make decisions on where best to spend those $$, these guys get to make that choice all by themselves. So far, not so good.
I'm with you on that one, Robert. There is so much that should be axed in financial markets, in fact, and this is going to sound totally naïve, why not get rid of financial markets altogether. Excuse me while I scuttle for cover!
the more money that accumulates in the pockets of the ultra-wealthy elites, the fewer dollars the working poor and disappearing middle class have to spend on daily necessities like rent, food, heat and health care. you are right: there is a revolution coming and sadly, not even biden can stop it. the big question is: who will win? will the people win, or will the oligarchs win? my bet is that the oligarchs will win and they will reinforce their iron-fisted grip over their new sort of modern slavery, almost like what we saw in the hunger games.
I like Ray. Who knows, maybe he will use the insane money he’s arranged for himself to do something about climate change. But yeah these hedge fund managers should rethink how their roles (and paychecks) affect everyday Americans.
Thanks for your knowledge and insight into this horrible manipulation of money. It's all so wrong and I hope Biden and Dems will do something about it!
Thomas Piketty, the French economist who has compiled the historical data on inequality and its economic impact, has stated quite simply that the answer is in taxation. No matter what the source of income, above a certain level it must be returned to the overall society. Nobody is producing a billion dollars a year. We are doing that with our labor and our consumption and through providing the overarching structure in which economic activity takes place. Simply go back to the taxes of the 1950s with no carve outs for investment income. Also, limit corporate pay gaps between workers and owners and include stock income. Enough already. The democrats need to publicize the reality of the magnitude of what is being stolen from all of us. It is truly inconceivable. Try to put a dot on a piece of paper for every dollar Jeff Bezos raked in during a Covid year. You might die first. Take some pictures of their multiple mansions (castles) cars, yachts, planes, estates…. They are living beyond the kings of the past by a long shot. Poor people don’t even know what is happening here. We all need to see the problem clearly in real terms. Expose the reality graphically. This is a big game and we the people are losing.
Why on earth does one person have to amass 19Billion dollars when Most can’t even save a few dollars.? I don’t get it! What exactly has he done with all that? Really makes a person think about capitalism!!
Talk, like Ray Dalio's is cheap. To know what you are doing is wrong, dangerous to the economic well being of the Country in which you live; is truly disgusting. Nick Hanauer said much the same thing, as did Warren Buffett. But they still take those irresponsible tax breaks and loopholes, they still keep their fortunes, and they still buy politicians.
My thoughts as I read this...
When you’ve leveraged the pension funds of others to generate billions of dollars to own ALL the politicians, squeeze the juice out of ALL the assets to the detriment of others, and pay a lower tax rate than the folks you leveraged are paying, will you ever be satisfied?
When do you have enough?
Is there no joy in leaving the planet or the lives of other humans better off? Life’s short and you can’t take the billions with you when you die.
There must be more to life than counting how many billions you have. What about your impact on society and the planet?
Rupert Murdoch & the Dominion litigation comes to mind. From reading the transcript, money & the profit motive are the ONLY things that matter.
Amazing that the impact on their audience of the deliberate lies & deception are a non-issue.
This enlightening piece made my stomach turn. I am so sick and tired of this capitalistic greed. So many of us have struggled hard just to keep a roof over our heads and food in our tummies, and watched as million/billionaires hoard their dollars and pay not a red cent in taxes! Meanwhile our own pitiable bank accounts dwindle and the prospect of retirement becomes further and further away… *sigh* I am sick and tired of being sick and tired of the greed in this country. 🌻
No one in Finance is to be trusted. In a word, Arbitrage.
From Wall Street, to Central Banks, IMF, World Bank and Banking Institutions, they are all corrupt.
Kyrsten Sinema and only Kyrsten Sinema is to blame for nuking the carried interest loophole. To think she was elected as a progressive!
We know. We see. And still nothing will change until money’s taken out of politics - the key lies there. Then it’ll be a clear path to taxing the rich and closing the loopholes.
This is exactly why Capitalism is out of control and the greed of these companies/ corporations may be responsible for the collapse of capitalism worldwide
What I most have a problem with is all these mostly white entitled guys choosing where to put their do-good $$ ....think Gates, Dallo, Musk, Buffet, Branson etc. Few make the 'right" choices. But the $$ they make and spend are at the expense of everyone else. So rather than society getting to make decisions on where best to spend those $$, these guys get to make that choice all by themselves. So far, not so good.
It is called greed. Extreme form of it. The worst kind of humans.
I'm with you on that one, Robert. There is so much that should be axed in financial markets, in fact, and this is going to sound totally naïve, why not get rid of financial markets altogether. Excuse me while I scuttle for cover!
the more money that accumulates in the pockets of the ultra-wealthy elites, the fewer dollars the working poor and disappearing middle class have to spend on daily necessities like rent, food, heat and health care. you are right: there is a revolution coming and sadly, not even biden can stop it. the big question is: who will win? will the people win, or will the oligarchs win? my bet is that the oligarchs will win and they will reinforce their iron-fisted grip over their new sort of modern slavery, almost like what we saw in the hunger games.
I like Ray. Who knows, maybe he will use the insane money he’s arranged for himself to do something about climate change. But yeah these hedge fund managers should rethink how their roles (and paychecks) affect everyday Americans.
Thanks for your knowledge and insight into this horrible manipulation of money. It's all so wrong and I hope Biden and Dems will do something about it!
Should it be made illegal for hedge funds to be involved in Labour relations?
Thomas Piketty, the French economist who has compiled the historical data on inequality and its economic impact, has stated quite simply that the answer is in taxation. No matter what the source of income, above a certain level it must be returned to the overall society. Nobody is producing a billion dollars a year. We are doing that with our labor and our consumption and through providing the overarching structure in which economic activity takes place. Simply go back to the taxes of the 1950s with no carve outs for investment income. Also, limit corporate pay gaps between workers and owners and include stock income. Enough already. The democrats need to publicize the reality of the magnitude of what is being stolen from all of us. It is truly inconceivable. Try to put a dot on a piece of paper for every dollar Jeff Bezos raked in during a Covid year. You might die first. Take some pictures of their multiple mansions (castles) cars, yachts, planes, estates…. They are living beyond the kings of the past by a long shot. Poor people don’t even know what is happening here. We all need to see the problem clearly in real terms. Expose the reality graphically. This is a big game and we the people are losing.