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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="LibertyTurns" data-source="post: 778793" data-attributes="member: 789"><p>There’s a lot of competing themes here but a nation’s wealth equals it’s gross assets minus their liabilities. Then there’s wealth distribution. Certainly the rich own a much higher proportion of the nation’s wealth than the poor, otherwise they would not be rich. As the nations assets rise, it’s hard to argue the rich do not get richer. Now some of the rich may have shorted Game Stop and their proportion of assets may have decreased, but their losses in the aggregate are miniscule. On balance, the rich are continuing to get richer.</p><p></p><p>The US has about $14T in tangible assets (real estate, natural resources, durable goods, etc) & $35T in financial assets (pension reserves, corporate equity, cash, etc). That’s $49T.</p><p></p><p>Where all the angst resides is the US claims it has $27T in debt. There’s the argument of unfunded liabilities which is another $75-150T on top of the national debt reported. Who owns that debt? Well, we all do & the poor own the same amount of the debt as the rich.</p><p></p><p>This is why it’s so important to get our fiscal affairs in order. We are disproportionately burdening the poor at the expense of the rich all the while claiming we’re trying to help the poor. You don’t help the poor by making them poorer. It’s akin to saying I’m going to improve your heath by punching you in the face.</p><p></p><p>Beware the liars. They’re lying for them not for you.</p></blockquote><p></p>
[QUOTE="LibertyTurns, post: 778793, member: 789"] There’s a lot of competing themes here but a nation’s wealth equals it’s gross assets minus their liabilities. Then there’s wealth distribution. Certainly the rich own a much higher proportion of the nation’s wealth than the poor, otherwise they would not be rich. As the nations assets rise, it’s hard to argue the rich do not get richer. Now some of the rich may have shorted Game Stop and their proportion of assets may have decreased, but their losses in the aggregate are miniscule. On balance, the rich are continuing to get richer. The US has about $14T in tangible assets (real estate, natural resources, durable goods, etc) & $35T in financial assets (pension reserves, corporate equity, cash, etc). That’s $49T. Where all the angst resides is the US claims it has $27T in debt. There’s the argument of unfunded liabilities which is another $75-150T on top of the national debt reported. Who owns that debt? Well, we all do & the poor own the same amount of the debt as the rich. This is why it’s so important to get our fiscal affairs in order. We are disproportionately burdening the poor at the expense of the rich all the while claiming we’re trying to help the poor. You don’t help the poor by making them poorer. It’s akin to saying I’m going to improve your heath by punching you in the face. Beware the liars. They’re lying for them not for you. [/QUOTE]
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