tag:blogger.com,1999:blog-1592992209402300549.post8097130281649405656..comments2024-03-28T08:06:43.198-04:00Comments on The Silicon Graybeard: An Irrelevant Economic FactoidSiGraybeardhttp://www.blogger.com/profile/00280583031339062059noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1592992209402300549.post-1573305751944364292019-07-24T07:29:17.646-04:002019-07-24T07:29:17.646-04:00Absolutely right! The "billionaires" do...Absolutely right! The "billionaires" don't make salaries of billions of dollars; their wealth is in equities spread around the economy making millions of lives better. Silly little twits like AOC have this idea that billionaires are just like her, except for a much bigger paycheck. That's not how it works. <br /><br />If someone tried to confiscate the net worth of the billionaires they'd plunge the world into the worst depression in history. Flood the stock market with equities for sale, drive down prices and economic collapse comes instantly. <br /><br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-57203064524898738962019-07-24T05:45:10.885-04:002019-07-24T05:45:10.885-04:00Their wealth exists as claims on functioning busin...Their wealth exists as claims on functioning businesses. Who would buy those claims if billionaires were suddenly illegal? Doesn't that put the buyers at risk of becoming billionaires? If there is no market for those claims, i.e. equities, then they have no value and billionaires stop being billionaires on paper.<br /><br />The problem of liquidating a very large position in a company is much like a hippo trying to pry itself out of a bathtub. It seems easy until the hippo loses the buoyancy of the water. As the hippo goes up, the water goes down.<br /><br />Further, if equities become gray, that is some what illegal, then who will supply funding for developing technologies? Governments tend to be poor at that kind of thing. Look at Japan, for instance.Eaton Rapids Joehttps://www.blogger.com/profile/09102166969915526172noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-61116595688424416922019-07-23T22:03:14.044-04:002019-07-23T22:03:14.044-04:00Yup. There is never enough money to pay for all o...Yup. There is never enough money to pay for all of the Free Stuff (which is part of my post for tomorrow).John Wilderhttp://wilderwealthywise.comnoreply@blogger.com