I also think that money isn't really wealth. It's just a temporary story of value and an accounting tool, much like a point system.
Our government could send every American a billion dollars, but unless that money somehow resulted in the creation of more goods and services, as a nation, we wouldn't be any more wealthy. Likewise we could equally redistribute all existing wealth, but in aggregate, we wouldn't be any wealthier, unless that redistribution process resulted in the creation of more goods and services.
When I have money in the bank or in my cookie jar, I just have points, which I could potentially exchange for wealth.
Here is an excellent and EXPERT non-partisan explanation: http://www.investopedia.com/universi...it-crisis4.asp
Last edited by Papa bull; 01-22-15 at 05:33 PM.
You can't reason anyone out of a position they didn't reason themselves into in the first place.
Honestly I read the numbers outstanding - maybe $1,000 TRILLION (numbers beyond our capability to grasp) and just can't help but conclude we'd be better to burn it all down and start again. What is essentially a parasitic activity - finance, lending, etc. that itself produces NOTHING of value - now rules the world.
which is the real problem with great wealth being concentrated. Wealth equals political power, and, unfortunately, political power generates wealth (or can at least.)The statistic Oxfam is using here has deep flaws. But the addition of indebtedness actually does add some value: it points towards who has the ability to use wealth as a discretionary power resource. The top one percent controls an eye-popping amount of global wealth, but more to the point, they're the ones who have much more wealth than they have debt — and so they're the ones who can deploy their excess wealth towards discretionary ends like electing political candidates and lobbying legislatures.
Case in point: California's own senator Dianne Feinstien. Guess who's husband just got the multi billion dollar contract to build the train to nowhere, aka the "high speed rail"? Yep, that's right. It was Feinstein.
Can't we just turn Congress off and then turn it back on again?