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View Full Version : How did this rich man hurt you?



Bob
05-10-2014, 01:20 AM
Using the rules of economics, please explain to me how you were harmed by this man getting super rich. Thank you.

How a former English teacher is about to become one of the richest people in the world
http://finance.yahoo.com/blogs/daily-ticker/how-an-english-teacher-turned-billionaire-could-soon-be-the-20th-richest-person-in-the-world-131006402.html

patrickt
05-10-2014, 06:12 AM
If he got rich and I didn't it isn't, to quote Rep. Pelosi, fair and you should take his money and give it to me.

Peter1469
05-10-2014, 09:35 AM
Our banks function under a fractional reserve system (http://www.investopedia.com/terms/f/fractionalreservebanking.asp). That means there is no pie for us to compete over. Person X does not steal money from others.

This income inequality meme is not just false, it is dishonest and dangerous.

I actually think this system is good, so long as there are government regulations to prevent over-leveraging (the source of the 2008 fiscal crisis- (not the real estate crisis)).