VGPolyglot said:
bdbdbd said:
What? That makes absolutely no sense. You clearly are opposing something you do not understand. People who make billions need to invest their money into something, and that something creates jobs and jobs create wealth. What the billionares own, are shares that have an imaginary value that's based on how they are respected on the market. You can't save money because inflation eats away the billionaires savings.
Equal distribution of wealth have no value by itself, as everyone can be piss-poor. What better welfare needs, is investments from people who have money to invest. Going a decade back, the main driver of global economy was investments that were made to China. In similar fashion there should be some driver (that has money to invest) in global economics to have GNP growing again.
What's causing today's financial problems is (loan) money that's leaving the market faster than there's new (loan) money coming on the market and inflation eating away the value of old debt.
Some food for thought: let's say a square meter in an appartment in Helsinki would be worth the same as square kilometer of desert in Africa, which would be more valuable, the the square meter or square kilometer? In the current financial atmosphere they'd be worth the same, but clearly how the real value should be calculated is much more complex than just to compare the monetary value.
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So, keeping billions of dollars stashed in a bank is investing it? Most billionaires are never going to become close to spending all of the money that they have.
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Of course it isn't investing it. That's why they don't have billions of dollars in the bank. That's just stupid to think there is. If you have a billion in the bank, and yearly inflation rate is 2%, you'll lose 20 million of your savings value each year.
Naturally the billionaires have money in the bank, not just the way you think, because there will be times when the investments aren't making you any.
If all the money would just sit in a bank, what value would it have anymore?