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We aren't capitalist

Posted by Butterfly Kisses on Friday, January 08 2021 at 11:01:43PM
In reply to Completely off topic but worth thinking about posted by Gimwinkle on Wednesday, January 06 2021 at 11:42:53AM

One major thing to note is none of these people have money like that sitting in a bank account and certainly not their pocket. That is their net wealth. They are invested in companies. The companies in return use that money to buy equipment, stock (as in materials to sell to the end user not stock market), advertising, pay people etc. To grow. If he was to try to pull all that money into a bank it would signal a crashing stock market and many billionaires would find themselves with a lot less money. If you owned a corner store you could technically be worth millions and still be struggling. If you sold off all stock(your materials to sell), the store, and other misc. items maybe you could have some money, but no job. Same thing with the billionaires just on a larger scale. In essence the money being in the economy is good as it is providing people with pay and money.

Essentially these people giving their money to charity would crash the world's economy leading to far more people in poverty due to them crashing the stock market.

There's a bigger issue here though, what's going on isn't capitalism. It's corporatism in which government and corporations are deeply in bed with each other. I'm reminded of the steel industry about 10 years ago in south east Asia. There was one company that was selling steel cheaper than everyone else breaking the monopoly that a few big companies had. Unfortunately for the scrappy little company they operated in one country only. The other companies used underhanded practices to get the local populace to shut the steel company down. They got the local people to protest it due to environmental damage, global warming, etc. They succeeded in shutting the steel industry down in that country even shuttering some of their own plants down in the process. Overall it was worth it though as competition had been stifled and the few big guys could once again collude to set prices. It made a big impression on me hearing about it 10 years ago and I saw such practices again and again and experienced it in my own life. The big guys using government and regulations to shut down the small business competition. Since capitalism is just the spending of your money however you see fit this crap is not capitalism.

Also in the U.S. and other European countries the government spends over 50% of all money (gdp). If you think the government having an over 50% share of government is capitalist, I don't know what to tell you.

Lastly,it's interesting to me that Bezos and other multinationals are all big democrats here in the U.S. The hedge fund billionaires for the most part also support democrats. Democrats are the ones trying to lower the wealth gap right? Supposedly. But,as we saw with lockdowns, regulations, global warming restrictions, etc. The government implements policies and big business grows at the expense of the little guys. During the government forced lockdowns small business lost 400 billion and big business gained 2 trillion or whatever the number was.

A rising tide raises all boats. I want the rich to get richer, the poor to get richer, the middle class to get richer. Communism around the world in every place it has been implemented has sunk everyone.

P.S- I wont post the link as we aren't supposed to be posting links right now, but you can search wealth held by bottom 50% by country. Interestingly, the countries that are self described socialist have the bottom 50% holding less wealth than the more capitalist countries.

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