Socialist hellhole California moves from 8th to 6th largest economy in the world, surpassing France

UncleBuck

UncleBuck

Well-Known Member
Flaming Pie said:
Its the same amount of money.
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i know you have to imagine most of this from a hypothetical standpoint being on food stamps and federal welfare and all, but do you think that wealthy people spend as great a percent of their income as people who are less wealthy?
 
Flaming Pie

Flaming Pie

Well-Known Member
UncleBuck said:
i know you have to imagine most of this from a hypothetical standpoint being on food stamps and federal welfare and all, but do you think that wealthy people spend as great a percent of their income as people who are less wealthy?
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The money is circulating in the economy. Even sitting in a bank it benefits the economy.

Not on welfare anymore. Not ashamed that I got a leg up when I needed it either.
 
UncleBuck

UncleBuck

Well-Known Member
Flaming Pie said:
The money is circulating in the economy. Even sitting in a bank it benefits the economy.

Not on welfare anymore. Not ashamed that I got a leg up when I needed it either.
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no. sitting in a bank and circulating in the economy are two vastly different things.

let's take an example you may understand. a store is selling XXXXL jeans for large women. if you are the business owner, is it better to have a thousand large women with $1,000 each ready to buy some jeans? or one large woman with $1,000,000 to buy as many jeans as she may need?
 
Fogdog

Fogdog

Well-Known Member
Big_Lou said:
Not sure if I've ever had duck eggs, but I've had many other eggs. I'm kind of partial to the canned quail eggs that you get from the Asian markets....grew up eating them, along with shrimp chips, haw flake, those coconut peanuts in the tins, etc.

Edit: I don't care about trolling, your comments on the Cali droughts, many of your inflammatory/inane comments, etc. - simply commenting on eggs.
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I've had duck eggs, soft boiled with toast. The whites are a bit stiffer than chicken egg white and the yolk is creamier. Good, not that different from chicken eggs but bigger.

Here is another way to eat duck eggs.
 
Fogdog

Fogdog

Well-Known Member
Flaming Pie said:
Its the same amount of money.

A rich person will make more investments in the market by buying stocks and bonds.
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Flaming Pie said:
The money is circulating in the economy. Even sitting in a bank it benefits the economy.

Not on welfare anymore. Not ashamed that I got a leg up when I needed it either.
Click to expand...
A balanced economy is the ideal. Some people with enough to invest in ventures and most money circulating in the economy in the hands of a well off middle class. We don't have that right now.

No matter how much the authoritarian right talk radio want you to believe it, the class of wealthy by and large don't invest or spend their money in productive ways or "give people jobs". Trump, for example. Trump's wealth generating ability was given a thorough going over by Michael Moritz, a Silicon Valley venture capital fund manager. Trump did no better in his investments than he would if he had simply invested in a passive S&P index fund. In other words, if Trump had been in Moritz's investment house, Moritiz would have said "You're Fired".

Sequoia Capital’s Michael Moritz calls Donald Trump ‘little more than a hustler’
The Silicon Valley VC compares Trump's business record to those of Michael Bloomberg and other billionaires.
http://www.recode.net/2016/6/16/11954290/sequoia-capital-michael-moritz-donald-trump-hustler

Moritz takes aim at Trump’s business narrative:

In Silicon Valley, Mr. Trump also fails to get more than a passing grade for his business skills because his actual performance, compared to the myth he has assiduously cultivated, is so mediocre. Look at the arithmetic. Assume 30 million dollars was plonked into a Standard & Poor’s index fund in 1968, when Mr Trump started to work in his father’s business, and leveraged, like many real estate deals, at about 66 per cent. This would now be worth $4.5bn, or about the same as Forbes estimates Mr Trump is really worth (as opposed to the much larger and entirely unverified number he has insisted upon).

Compared with Mr. Bloomberg and Mr. Ross, Mr. Trump seems little more than a hustler who takes from the rich (lenders he has short-changed, partners he has sued) and also takes from the poor (hapless students of Trump University, tenants whom he has allegedly bullied).

Again, it's better to have a few really good venture capitalists and entrepreneurs than the gaggle of heirs that basically just poke along without contributing. The bulk of the money supply needs to be in local circulation, which pays people doing their jobs or running a small business, who then buy things they need. Every time the money cycles from a wage to purchases of goods, the community is enriched.

'A dollar spent at a locally owned store is usually spent 6 to 15 times before it leaves the community. From $1, you create $5 to $14 in value within that community.'
http://www.blueoregon.com/2005/11/buying_local_an/

But I don't think you can understand this.



 
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