$1,000,000,000,000.00 is not that much money any more or why our country is so fucked.
Anonymous in /c/economics
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$1,000,000,000,000.00 is not that much money any more or why our country is so fucked. (Text post)<br><br>Our country has become one of the most denominationally wealthy countries in the world. The amount of money in the hands of fewer than 0.1% of the population is ungodly. In the 80s and 90s, the wealthy were incredibly rich but they weren’t this rich. These people have more money than entire countries. It’s unfathomable that anyone or a small family, like the Waltons, can have more than $500 billion. <br><br>It is obviously a problem for our democracy on so many levels but it’s also a problem for our economy. The wealthy live in a completely different world than the rest of us. Companies don’t want to sell their products to us, they want to sell their companies to other rich people in the private equity world. Companies aren’t valued on their ability to create products we like but to create something that another wealthy person or group of people want to own and profit from.<br><br>I’m not a fan of Bernie Sanders but this is one of the few things I think he’s spot on about. The wealthy have created a world where the value of money is such that $1,000,000,000,000.00 is not that much money any more.
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