Future economic fear of the rich and poor.

jaberwock

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Quote from: Natalim on October 04, 2021, 04:19:00 AM

Not generally because some of them have also sympathy for the poor class through charities and donations. But i must say, if the kind of government we have right now will continue, then the rich people will always be rich, the poor people will be much poorer. So if there is an incoming economic crisis, i believe the one who will suffer the most is the poor class. They are living in poverty at the current and really had a hard time sustaining their basic needs, so i think it will even get worst in the future. While looking at these rich class in the society, i know they will still survive no matter what because they have all the excess money that the poor class don't.

Charities and donations do not get nearly enough and they are inefficient, governments are inefficient as well. There is no situation in anywhere of the world where you get to have the taxes paid in full without anyone avoiding a single tax while also spending those tax dollars as efficiently as possible.

This is why people ask for free healthcare and free education and so forth, that would mean that you get to pay for it and governments would want to pay less so they will do their best to make the prices for hospitals and medicine cheaper since now they are paying for it instead of letting people do it, and it would be efficient since all you do is save lives, quite important task.

I would say that the best thing that would be helpful is to make a general law, like free healthcare, instead of letting liberal capitalists donate whenever they want to, and then get it back a lot more from tax payers. Just this year Jeff Bezos donated a small amount, and yet took 1000x more than that from tax payers.

Fortify

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Quote from: Rruchi man on September 20, 2021, 07:22:13 AM

A discussion to express your views and perspectives on the future economic fear between two class of people in the society, the rich and the poor.

-I have often heard that there's an even greater fear with getting money, who do you think has more fear about the future?

(A) The Rich man who has tasted the good things of life and enjoying the best, now he has to face the fear of the possibility of suddenly loosing all he possesses and becoming poor? Or

(B) The poor man who has not enjoyed anything in life yet, just surviving and facing the fear of an unknown future, thinking if he is ever going to be in a better position or the suffering is going to continue?

Unfortunately a poor man who suddenly comes into a large amount of money will often lose it all through a variety of means. There are two types of poor people really - those who are barely able to scrape together enough to get by in life and those who have a decent income yet manage to waste huge amounts of money on things that will not bring them long term happiness. The first stands a chance at using money wisely, if they have a basic education, because they will treasure it and likely watch their spending. The second type would simply inflate their wasteful spending to match their new found wealth, instead of buying a takeaway every week they might go to a five star restaurant every night and fritter it away.

oHnK

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Quote from: freedomgo on October 04, 2021, 03:31:52 PM

The rich people have also fears of loosing their investments but they still have all the chances to acquire them again knowing they have the money and resources that will always give them an edge from the poor ones.

The level of fear of people who have money with poor people is very much different. The disparity between the rich and the poor is enormous. Worry in the rich to be poor, it's only a percentage of the poor who even food for tomorrow he doesn't know what he will eat. As hard as it was for the rich, they could still eat and sleep well. On the other hand, there is the poor who struggles to be able to eat and sleep well tomorrow. I would love to have the opportunity to help a very poor family to make their economy more stable through crypto, but this is not an easy matter because crypto is not a magic thing that can make the poor rich overnight. There is a long process.

imstillthebest

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Quote

I have often heard that there's an even greater fear with getting money, who do you think has more fear about the future?

we don't need to be fearful as long as we get the money in an honest way but to the question if who among the poor and rich is fearful in the future ,
Id say it depends because there are poor that is constantly worrying but there are poor that are already used to the life they had .
for the rich , there are rich that don't worry because they manage their money well and there are rich that worry that they cannot maintain their high standard of living .

Semar Mesem

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Economic inequality is a serious problem, this is because the rich don't care about the poor so it will become a ticking time bomb one day, the state should be able to provide education and training to capital to be able to help the poor so they can improve their lives so that they can reduce the gap with the rich.

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Quote from: Zanab247 on October 04, 2021, 01:01:17 PM

Poor is the one that has future economic fear than the rich in the country. During the covid-19 virus, I came to discovered that most of the rich men didn't worry much about the dump of the economy. The poor where seriously worried about the things the covid-19 virus has caused for their environment and their future during the pandemic that reduced the world economy to zero level few years ago.
Rich people have more to invest in bitcoin because they believe so much in risk taking and what will involve in the future than poor who don't have more to invest in bitcoin and they are so afraid with the little one they invested in the future. The poor don't have different sources of income like rich men who have different sources of income in cryptocurrencies.

I think both of them have their own fears when it comes to the future economic crisis. But it will be more fearful on the part of the poor people seeing there is always a high inflation that continuously growing which makes more increase on the prices of basic commodities. I know it will get even worser in the future. I think looking at this scenario, poor people will have to make bigger adjustments and find more means for survival. The rich people have also fears of loosing their investments but they still have all the chances to acquire them again knowing they have the money and resources that will always give them an edge from the poor ones.

Zanab247

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Poor is the one that has future economic fear than the rich in the country. During the covid-19 virus, I came to discovered that most of the rich men didn't worry much about the dump of the economy. The poor where seriously worried about the things the covid-19 virus has caused for their environment and their future during the pandemic that reduced the world economy to zero level few years ago.
Rich people have more to invest in bitcoin because they believe so much in risk taking and what will involve in the future than poor who don't have more to invest in bitcoin and they are so afraid with the little one they invested in the future. The poor don't have different sources of income like rich men who have different sources of income in cryptocurrencies.

Fortify

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Quote from: Rruchi man on September 20, 2021, 07:22:13 AM

A discussion to express your views and perspectives on the future economic fear between two class of people in the society, the rich and the poor.

-I have often heard that there's an even greater fear with getting money, who do you think has more fear about the future?

(A) The Rich man who has tasted the good things of life and enjoying the best, now he has to face the fear of the possibility of suddenly loosing all he possesses and becoming poor? Or

(B) The poor man who has not enjoyed anything in life yet, just surviving and facing the fear of an unknown future, thinking if he is ever going to be in a better position or the suffering is going to continue?

It depends how you're defining "Rich" in this scenario. If we're talking about people with a few million, then they have to make some extremely serious mistakes in order to lose their money. Most people with that sort of money can just plow excess cash into index funds and live off the dividends for the rest of their lives. Over time the value of the shares in those index funds will rise and they will also receive steady dividend payments which can cover their living expenses. Unless they do something extremely dumb like put all their money into one property, fail to buy insurance and see it burn down - that sort of thing is the only way they could lose most of their money in one go. Yes they may fear being poor, but the reality is that will not happen if they have just a tiny bit of sense.

MNbag

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The fuel of the economy is the prospect of the poor becoming rich.

This desire to no longer scrounge for every cent of your survival among the dirt, but to live in a bit of comfort is what drives the constant pipeline of hopeful recruits to the squadrons of con artists, snake oil salesmen, and general rouges for their daily picking.

Gradually the hope of success drains away as every day, another scheme turns out to be filled with holes. Every day, someone they knew has fallen into the wayside once again as the crooks zoom away in their limos and Lambos with their riches.

Occasionally, there would be a scheme that aims to not merely ensnare the wallets, but also the personality of the victim.

Gradually through desperation, camaraderie, and the general breaking down of the psyche, the person is converted into a machine that constantly preaches about the wonderful qualities of the product. Gradually, the person gets insulated from any outside help and ends up in the inner sanctum, where they will be held in a constant sense of devotion to their one duty.

It ain't dollars that this economy runs on, but the dreams of the many.

riso2015

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see unprepared perhaps more unprepared the Rich . Because the rich are used to living in everything, everything is delicious and well established. When they fall into poverty it may take time to get up much more than the poor, their mental readiness is less. Unlike the poor, they are used to living in poverty, as it is, so that if they experience worse things they will not have much influence..and if they are rich, I think they are quite happy with the position they have got.

molsewid

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Quote from: Natalim on October 04, 2021, 04:19:00 AM

Not generally because some of them have also sympathy for the poor class through charities and donations. But i must say, if the kind of government we have right now will continue, then the rich people will always be rich, the poor people will be much poorer. So if there is an incoming economic crisis, i believe the one who will suffer the most is the poor class. They are living in poverty at the current and really had a hard time sustaining their basic needs, so i think it will even get worst in the future. While looking at these rich class in the society, i know they will still survive no matter what because they have all the excess money that the poor class don't.

I always believe that the one who has an asset or money have always the advantage to make a good life even economic problem rises than those who was already struggling in life. But with the kind of government and laws that we have which I believe in terms of paying taxes usually those rich people have had the best way to avoid paying big taxes and it is true corporation and true donations, charity and foundations. Poor and Rich are both working hard to get a good life but rich man has always the advantage.

Natalim

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Quote from: Kong Hey Pakboy on October 03, 2021, 11:18:15 PM

Quote from: Kodok Bencot on October 03, 2021, 10:07:55 AM

Economic problems are getting more complicated, the gap between rich and poor is getting farther and farther, in my country there are people who are rich enough to not finish for 10 generations, but not far from their house there is an ugly house so it is very difficult to eat every day. this is a big problem that the economic gap is too wide between the rich and the poor.

If we continue as a meek and passive population, the powerful few will continue to exploit us no matter what, the best thing that we have to do right now is for us to unite as people and elect the right people in power and dismantle the regime that exploits each country, the best thing to do would be a revolution or killing the elite who is proven to exploit people for profit.

Not generally because some of them have also sympathy for the poor class through charities and donations. But i must say, if the kind of government we have right now will continue, then the rich people will always be rich, the poor people will be much poorer. So if there is an incoming economic crisis, i believe the one who will suffer the most is the poor class. They are living in poverty at the current and really had a hard time sustaining their basic needs, so i think it will even get worst in the future. While looking at these rich class in the society, i know they will still survive no matter what because they have all the excess money that the poor class don't.

Kong Hey Pakboy

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Quote from: Kodok Bencot on October 03, 2021, 10:07:55 AM

Economic problems are getting more complicated, the gap between rich and poor is getting farther and farther, in my country there are people who are rich enough to not finish for 10 generations, but not far from their house there is an ugly house so it is very difficult to eat every day. this is a big problem that the economic gap is too wide between the rich and the poor.

If we continue as a meek and passive population, the powerful few will continue to exploit us no matter what, the best thing that we have to do right now is for us to unite as people and elect the right people in power and dismantle the regime that exploits each country, the best thing to do would be a revolution or killing the elite who is proven to exploit people for profit.

Sithara007

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Quote from: SquallLeonhart on October 02, 2021, 03:09:08 PM

Nearly all of them inherited money or power or just took it when they are alive. The ones that inherited because their parents died are the ones we all know, I am not going to talk about them because we all know them. However people like warren buffet, Elon Musk, Jeff Bezos, bill gates and the likes all came from very very wealthy families, they were both paid to survive without going bankrupt by their families, and they were also given networking chances by the families as well, since their family were rich and wealthy that meant even their friends were rich and wealthy and some of them were even better off, so that means with a phone call these people got investors.

Warren Buffet is known as a great investor, and yes he is one that's true there is no denying that, but he started as a senators son who got investors left and right in a period when it was hard to find investors for even big companies. So, let's not act as if anyone was dirt poor and then became a super rich person, those are very rare.

Well.. I don't want to deny any of that. Most of the people you have listed out were already in the rich, or at least the upper middle class background even before they became millionaires. Take the case of Mark Zuckerberg for example. His parents were rich and therefore they could afford to send him to the Harvard University. If he was in some lesser known college, then there is a smaller chance that he would have come up with something like Facebook. The same goes to Elon Musk. He was able to immigrate to Canada first (through his mother) and then he managed to enroll himself in the University of Pennsylvania.

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Economic problems are getting more complicated, the gap between rich and poor is getting farther and farther, in my country there are people who are rich enough to not finish for 10 generations, but not far from their house there is an ugly house so it is very difficult to eat every day. this is a big problem that the economic gap is too wide between the rich and the poor.

SquallLeonhart

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The rich man has always had the advantage for this, even though they have a huge amount of money, they have still some investment and saving money that they can use to start again, If they have made their life rich then I think they can do it as well as long as they have still savings.

I am not agree with those poor people who keep on saying that they are contented with the things they already have and they are still happy, the truth is there is still a big hope for them to get rich and they sometimes feel sad whenever they cannot afford thing they want.

Also the money they have for investment is different from the money they use for living. So, a rich person could keep on living like a rich person because they saved maybe 100 million dollars aside and do not touch it, that is their base and they just use it with care, rest of the money could be going to crazy stuff and that is why they can do all kinds of investments without a worry, it could go down as much as 50% and they would not bat an eye, why? Because, they are not doing it with their living money.

I could save as much as 20k dollars, that is what I am hoping to achieve with my investments, but if that goes down 50% then I would still be scared, it is not money I use for my life but it is what I need to make my life better, and I am not at a level where I can live with it, I need my salary to live, in order to reach to whale levels, I need to be able to not work at all, not have any income from my job, and still have enough money aside to live comfortably forever.

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Quote from: tippytoes on October 02, 2021, 05:37:24 PM

Quote from: fuguebtc on October 02, 2021, 05:30:53 PM

I think that those who have enough money or even more than they need are not the ones who should feel more afraid, because their position is much more favorable than those of what we might call poor. , although here we can't just refer to people at the bottom of society, but also to people with average lives. Rich and poor it has two classes and very different thinking although many For example, the daily expenses of the rich they do not need to worry about, but about the poor, all the money they earn is enough to cover their lives and the poor they are very afraid of losing money because those are the the only money they earn.

In short, they have different degree when it comes to worrying their respective lives. But I think those who grow poor vs those who grow rich have different approach in life. For those who grow rich, once they encounter problems in life, it would be very hard for them to battle it, whereas, those who grow poor will have much better approach as they already knew that kind of life. It is a matter of how they manage their situation given these circumstances and how they surpass this bottleneck.

Yep, I'd agree, Money revolves around these rich people. To the point, wherein when money became their problem they started to break down and to feel being disregarded by other rich people or by their own society. On the other hand, when poor people have managed to be successful there are 2 possible ways they could go. 1st is to go on a one-time bigtime lifestyle (this is quite common to those who've won a lottery or a jackpot) since they were born and live as poor, they tend to spend money to live like how they wish it were but to the point that they have no control. 2nd is those poor people who are somehow educated enough to still spend what is only needed or re-invest for them to grow it more.

So yeah, we all have different walks in life, our own perspective and everything. But at the end of the day, we all have problems, battles that we need to try conquering, to try winning it and to fight as much as possible. But we must accept that some battles we have are worth not fighting for if we know and feel that we can badly hurt ourselves, those people around us and our love ones.

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Quote from: fuguebtc on October 02, 2021, 05:30:53 PM

I think that those who have enough money or even more than they need are not the ones who should feel more afraid, because their position is much more favorable than those of what we might call poor. , although here we can't just refer to people at the bottom of society, but also to people with average lives. Rich and poor it has two classes and very different thinking although many For example, the daily expenses of the rich they do not need to worry about, but about the poor, all the money they earn is enough to cover their lives and the poor they are very afraid of losing money because those are the the only money they earn.

In short, they have different degree when it comes to worrying their respective lives. But I think those who grow poor vs those who grow rich have different approach in life. For those who grow rich, once they encounter problems in life, it would be very hard for them to battle it, whereas, those who grow poor will have much better approach as they already knew that kind of life. It is a matter of how they manage their situation given these circumstances and how they surpass this bottleneck.

fuguebtc

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I think that those who have enough money or even more than they need are not the ones who should feel more afraid, because their position is much more favorable than those of what we might call poor. , although here we can't just refer to people at the bottom of society, but also to people with average lives. Rich and poor it has two classes and very different thinking although many For example, the daily expenses of the rich they do not need to worry about, but about the poor, all the money they earn is enough to cover their lives and the poor they are very afraid of losing money because those are the the only money they earn.

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Quote from: Sithara007 on September 30, 2021, 11:50:26 PM

Quote from: xSkylarx on September 30, 2021, 10:23:41 PM

Agreed, because in the poor one, it would be do or die. We all know that if we invest as poor people, we will think four times because if we lose this money, we will have nothing to do but cry. Rich people, on the other hand, have extra money to cover their losses, but the lesson is that if you take a risk, you can get the gold; imagine those successful and wealthy people who were at the bottom at first, but risked everything to get to the top, and now you can see them in good shape; it is better to risk than never.

Not all of the rich people got in to that position because they took risk. There are some who inherited their wealth. Then there are a few who got their wealth through unethical means (such as bribes, crimes.etc). But I agree that a large chunk of them are rich, because they took the risk at an early stage of their life. But that doesn't necessarily mean that whomever taking the risk will get rich. Look at the state of ICOs now. The success rate has dipped below 5%. And that doesn't mean that if you invest in 20 projects, you will get one successful project. For some people, it may be 0 out of 20. For some others, it may be 2-3 out of 20. In the end, luck also matters.

Nearly all of them inherited money or power or just took it when they are alive. The ones that inherited because their parents died are the ones we all know, I am not going to talk about them because we all know them. However people like warren buffet, Elon Musk, Jeff Bezos, bill gates and the likes all came from very very wealthy families, they were both paid to survive without going bankrupt by their families, and they were also given networking chances by the families as well, since their family were rich and wealthy that meant even their friends were rich and wealthy and some of them were even better off, so that means with a phone call these people got investors.

Warren Buffet is known as a great investor, and yes he is one that's true there is no denying that, but he started as a senators son who got investors left and right in a period when it was hard to find investors for even big companies. So, let's not act as if anyone was dirt poor and then became a super rich person, those are very rare.

Topic: Future economic fear of the rich and poor. (Read 632 times)