1y ago

World’s richest people added $852 billion to their fortunes in the first half of 2023

english.elpais.com World’s richest people added $852 billion to their fortunes in the first half of 2023

Elon Musk and Mark Zuckerberg increased their net worth by $96.6 billion and $58.9 billion, respectively, thanks to rising share prices on the Nasdaq

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I have mixed feelings about measuring their wealth based on share prices because they couldn't sell their shares without tanking the price, right? Elon didn't actually increase his wealth; just the value of something that he has a shitton of went up.
We could also tank the value of his stocks by not buying or using his stupid shit!. For example, anyone angry that he is rich should definitely not be using Twitter.
"Eat the rich"... blah blah blah. Much easier to just protest the rich and take our money back by not giving it or our time to the rich in the first place.
- Much easier to just protest the rich and take our money back
  That's pretty much what eat the rich means lol
  Difference is you think it can be done simply by not spending our money with them, when in reality, like others have pointed out, they've not only made that not matter (because they can get more money anyway), and left us no choice (we can't all run off and live in the woods, and if we're not spending our money on one billionaire's products, we're spending it on another's), but they also have the police as their guard dogs, as well as governments who control militaries under their thumb, not to mention their own private militias and defences and bunkers and all that jazz.
  So the only way it actually can be done (protesting the rich and getting our money back, that is), because they have left us no choice, is by force - 'When the people shall have nothing more to eat, they will eat the rich'
  
  I respect your opinion, but I worry that it'll lead to violence, which doesn't really solve anything.
  
  It's not an opinion, look around - the violence is already here, it has been inflicted on to the working class for centuries, killing hundreds of millions (at least, in all that time) for profit in war, with hunger and restricted access to water, with homelessness and poverty, with preventable disease, with climate change, with immoral laws and entire systems designed to keep large segments of the population as slave labour, which is what they used to gain their power and wealth to be in the position to impose all of this in the first place. And all that just off the top of my head, there is so much more violence that is inflicted on us daily, they've just got most people convinced that's just life, when it really really isn't. And those who actually benefit are never just going to give all of that up.
  TL;DR:
  
  It's disgusting how well their propaganda has worked. The rich are already violent on a global scale.
  
  Yup, and yet they not only have people look up to them and aspire to be like them (believing the "hard work" myth), but also defend them when they do all this indefensible stuff that is destroying society and our planet. It really is pretty disturbing how powerful the brainwashing is.
  
  And also obligatory MLK quote:
  "I must confess that over the last few years I have been gravely disappointed with the white moderate. I have almost reached the regrettable conclusion that the Negro's great stumbling block in the stride toward freedom is not the White Citizen's Council-er or the Ku Klux Klanner, but the white moderate who is more devoted to "order" than to justice; who prefers a negative peace which is the absence of tension to a positive peace which is the presence of justice; who constantly says "I agree with you in the goal you seek, but I can't agree with your methods of direct action;" who paternalistically feels he can set the timetable for another man's freedom; who lives by the myth of time and who constantly advises the Negro to wait until a "more convenient season."
  Shallow understanding from people of goodwill is more frustrating than absolute misunderstanding from people of ill will. Lukewarm acceptance is much more bewildering than outright rejection."
  
  Was it not also MLK that said, "Returning violence for violence multiplies violence, adding deeper darkness to a nigh already devoid of stars."?
- They don’t need to sell to realize gains - they take out loans against the stock value from banks for almost no interest. If they choose to, they could get large amounts of that paper gain in liquid cash through just a handful of steps.
  
  they take out loans against the stock value from banks for almost no interest. If they choose to,
  Those days are coming to an end though...
  
  Yeah, someone else mentioned that. That's bullshit.
- I have mixed feelings about measuring their wealth based on share prices because they couldn’t sell their shares without tanking the price, right?
  Technically this is true, but remember that the wealthy can borrow money backed up by their stocks, so no: they couldn't sell those stocks without tanking the price, but yes: they have access to even more money because of this.
  
  Ohhh!! That makes sense. Goddamn the wealthy, lol
- I think you're exactly right. Social media is just the first thing we should be federating. Next should be farming, manufacturing, timber, construction, shipping, sales, and energy. If we crowdsource our solutions while using logic and algorithms to enforce quality control, we can exceed efficiency of the greedy ruling class and share profits among everyone who contributes so contributor ever faces starvation or living on the streets.
  The billionaires can hoarde all the resources they want. If the masses stop contributing to their system, they will find that endless consumption is not as competitive as true justice and fairness.
  
  You should check out the book "Daemon" by Daniel Suarez (if you haven't already). Based on your post, you'd probably like it a lot. There's a sequel, too: "Freedom".
- Shhh… this is Lemmy

55 comments