Quote:
Originally Posted by Just a guy
Using your post, but also more as a general comment from what I am reading.
Using Elon Musk as the example, how many people are employed at his companies? These are also well paying jobs. How much has these companies paid out over time just to employees? To suppliers (more jobs) and contractors (more jobs)? I don’t know that I would call this trickle down, but just normal business, but on a scale much larger than say Pete the Plumber! The question is “How much money has Elon Musk put back into the economy?”.
I like how a lot of people compare the paper worth of Elon Musk and others, versus actual cash wealth. They want to tax an unrealized profit from share holding, which may decline the following year. How often have we heard of someone losing billions in a day due to market activity? These billions could have been taxed the day before. Is that fair?
As for increased costs, this hurts the more as you move down the economic scale. More and more people will decide not to buy something due to the costs (example: one less trip to McDonalds for the kids this month). The old saying that there is no better cure for high prices than high prices themselves. High prices reduce demand!
Knowing it is not this simplistic, but when you print more money and there is not a corresponding growth in product and services, then you are devaluing the money, which leads to inflation. Water will always find its level and that is what we are seeing. Some people are making out like bandits and others are being hurt. This will change over time once the turmoil settles down. Not saying there won’t always be wealthy people and poor people, because there will. Just that market forces will normalize things in the long run.
My thoughts!
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Sorry, but your conclusion is things will balance themselves out because of *snicker* market forces? Interesting, if you ignore all past evidence and trends of wealth consolidation at the top. Market forces have perpetuated this trend, so why would it change?