How the rich get richer and why it works - page 3.

youdacapt

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Quote from: bitcoin_bob on April 03, 2021, 10:00:26 AM

Rich people know what to do with their money. Simple truth, isnt it? Ordinary people usually dont know how to multiple their capital

i think the rich people are individuals who has actually figured out the importance of risk taking; just as it works in trading; the higher your $ invested in a trade; the higher you are going to earn. Also rich people are usually individuals earning from multiple streams of income; with clear discipline as regards luxury and assets.

Rich people would continue to be rich because the ordinary individuals would rather worry about what they can achieve to survive today and not tomorrow.

conected

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Quote from: bitcoin_bob on April 03, 2021, 10:00:26 AM

Rich people know what to do with their money. Simple truth, isnt it? Ordinary people usually dont know how to multiple their capital

- Not exactly, ordinary people know what they should do with their money but a big difference in capitalization creates a correlation of returns, I mean, if we have too little money to start with, our big profit target needs to be high while for the rich, a few percent of the return is more than enough, their risk is less, especially, their psychology is quite stable compared to ordinary investors. If we add up the probabilities they can associate and manipulate the market, implicit relationships, it is not surprising that more rich will become richer

Ridwan Fauzi

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They already know how to manage money well, I don't think for those who seen have a lot of money and a lot of asset can be said as a rich man. Because, we don't know their state properly, we don't know that their debt is more than he has now, right?

Different with some people who doesn't have a lot of money and he just has a few asset but he has saving money and routine savings every day or every month even the most important thing is that he does not have debt either to the bank or to other places, I guess that is the real a rich man.

We are often deceived by giving a judge on something that is visible directly to our eyes without knowing what is happening inside. The main focus is a rich man can or able to manage their money properly and he will know what will happen later so as they will make a solution to something that will come.

bitcoin_bob

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Rich people know what to do with their money. Simple truth, isnt it? Ordinary people usually dont know how to multiple their capital

AicecreaME

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I don't agree with majority of your statements. The wealthy people doesn't get richer just because of politics and power. Although yes, it plays a part since connection with different people is involved. However, the rich aren't always involved in politics. In fact, most of them avoid it as much as they can because they know what kind of world it is - chaotic.

The rich people gets richer because of hardwork. Majority of the rich people I know came from nothing. What paved way from them achieving the status they have right now is perseverance and determination. They used their money in investing instead of spending over luxuries things that are just liabilities. Although there are really some rich people (billionaires) that hoard money and were able to acquire such great amount because of unjust treatments, labor malpractices, and giving below the liveable wage value.

It just really depends on who are we talking about. The rich that acquired their wealth by hardwork and perseverance, or the rich that acquired their wealth using evil deeds like stepping onto someone's rigbht.

Lorence.xD

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Quote from: ?? on ??

Deep analysis but it doesn't work similar in every part of the world, in some countries people follow the words of rich people for no reason so they become the supporter of the party who is in the favour of rich people. Even though rich people are supposed to pay more taxes they get tax exception for everything when the ruling party is supporting them but again the party takes the money from rich people which can be covered for tax purposes.

That is how sheep function, they will follow who is going to feed them. The reason that they get rich is because they keep those that will try to revolt at bay by giving them enough money to feed them and not to become discontent of their situation, not to mention that the enforcers of law are on their side it adds an ease that they can keep their wealth. The tax exemption thing could be destroyed if the people in the seat favor the public more than the rich people.

fortebettor

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Quote from: davis196 on March 31, 2021, 01:17:42 AM

Your post should be titled "How the oligarchs get richer and why it works." Grin

Do you think that the only way to become rich is to get political power?Money>Power>More money
You seem kinda inspired by Machiavelli.Is this some kind of guide about how to divide and manipulate the people,in order for you to achieve wealth,power and influence?
The rich get richer because they are investing and all their money works for them 24/7.
Also it's way easier to increase your wealth significantly,when you are already rich.

The law of this world with money manipulating people. But it is not always the case that the richer someone is, the easier it is. A lot depends on how he achieved his wealth. If someone got it as an inheritance, they will not be able to multiply it. Rather, he uses his means and wealth as a tool for manipulation, control or corruption. Unfortunately, money is often the undoing of many people.

Mauser

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Quote from: ?? on ??

Deep analysis but it doesn't work similar in every part of the world, in some countries people follow the words of rich people for no reason so they become the supporter of the party who is in the favour of rich people. Even though rich people are supposed to pay more taxes they get tax exception for everything when the ruling party is supporting them but again the party takes the money from rich people which can be covered for tax purposes.

I noticed the same in my country, there are very public figures who appear rich and people just believe every word he says. I think we as investors need to be careful and check, if he is actually rich and how he got rich. If he has just money because of his public status and not by doing something extraordinary, then we shouldn't take him as a role model. Another thing I noticed is the super rich tend to very secretive.

Kong Hey Pakboy

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Quote from: GeorgeJohn on March 31, 2021, 07:04:23 PM

The rich get richer because they are expose to the societies and they have expansion of knowledge or brain in terms of businesse strategies or risk taking in order to get what them want, that is from my perspective and also from environmental observation within my domain.

They can take risks because they have enough money to take the risk, I mean if you know that when you fail with your attempt, you will not have any problem with money then you will still do it. Other reason that the rich get richer is because they exploit the working class by giving them more work hours for little to no wage increase and very debilitating penalty when it comes to work infractions and they have ties with the government so they can get easily what they want because they have connections.

Hippocrypto

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Quote from: GeorgeJohn on March 31, 2021, 07:04:23 PM

The rich get richer because they are expose to the societies and they have expansion of knowledge or brain in terms of businesse strategies or risk taking in order to get what them want, that is from my perspective and also from environmental observation within my domain.
So but the process whereby the rich working, that is the practical example of activation of success of a wealthy or rich person, because their is a little differentiation between wealthy and Rich, shall the difference is not really matters for thus discussion, what matters is engagement of the rich at work in order to bring the image of the industry or any sector of life.

In general perspectives, rich or wealthy individuals has no difference in many cases. What's with their current status is their abilities to use their money to create passive income because if huge quantities, so they could afford to lose bigger. They won't worry about the future because they had plenty.

GeorgeJohn

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The rich get richer because they are expose to the societies and they have expansion of knowledge or brain in terms of businesse strategies or risk taking in order to get what them want, that is from my perspective and also from environmental observation within my domain.
So but the process whereby the rich working, that is the practical example of activation of success of a wealthy or rich person, because their is a little differentiation between wealthy and Rich, shall the difference is not really matters for thus discussion, what matters is engagement of the rich at work in order to bring the image of the industry or any sector of life.

just_Alice

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Great analysis, I think it really is how things work. The saddest thing about is - is that nowadays democracy is basically an illusion of choice. And it wouldn't be that way if people weren't that stupid or gullible. There really is a lot of manipulation going on in politics, especially during the voting period and people make the same old mistakes each time!
The problem is that when there is an election and the government is very corrupted - not much will change and it doesn't matter who you vote for. There's aמ established practice, a whole working system in there and several people can't change it.
So the first 25% can't be changed in any way, the rich will root for the rich.
However, the other 25% depends on the people and how well they filter the information that the mass media feeds them. Unfortunately, for now, in many countries people are easily manipulated.

Fortify

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You make a lot of good points but seem to turn it into a political discussion, rather than a financial discussion as the thread title implies. I guess it depends what we are defining as "rich" in this scenario and it will vary a lot by where you live. 1 million dollars in San Francisco might not buy you a lot of property, but it could buy a huge estate in others. Regardless of that, the real driving force between the rich getting richer is how their money generates more money. At a certain point these people will be living off dividends generated by their stock portfolios and if they can live below that amount, the compounding effect on anything reinvested will increase their wealth while they still have cash to live.

iamsheikhadil

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This is a very interesting post with a unique perspective and I agree on every point. What many would say that it's unethical, I would say it's very ethical because, the world is full of evil people, and in a democracy, the voice of majority (and since all are evil and selfish) is enforced which means one needs to dodge these majority's voice. But I have a question, why would anyone really have to do all these stuffs? Let the majority decide whom they are gonna vote, and get their leader, and just buy the leader and tell them what laws to make? That works with a much lower budget as well!

michellee

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Quote from: pinggoki on March 31, 2021, 07:23:49 AM

The rich becomes more richer simply because they have the chance to invest whenever they want and earn more profit than those people who doesn't have any money to invest on some good projects and good investments. The rich has the resources they want in order to make them richer the most and the poor doesn't have the resources to make them rich. That's the wheel of life and the reason why rich get more richer than anyone else.

It is true, but that does not mean the poor can not invest like the richer. If the poor can save their money, they will get some benefits for doing that even for just small money. Maybe you already heard about the case that the poor have a lot of money going to the bank with that money. That poor man is saving his money day by day from what he did, and after doing that for some time, he can have a lot of money. Maybe that is different from the rich person who can use his money anytime he wants. It will depend on how we can manage our money to see the opportunity to make money.

mu_enrico

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Quote from: paxmao on March 30, 2021, 06:36:08 AM

This is very simple - TO KEEP WEALTH YOU JUST HAVE TO AVOID GIVING IT AWAY TO OTHERS

This very first statement is already wrong. Let's not get into politics Cheesy

First, "you need to spend money to make money." - I'm quoting this since this statement should be there somewhere on the internet. It means two things: (1) spending for productivity (direct economic result) and (2) spending for purposes (indirect economic result). You can be generous to neighbors, and they will give you protection, help you, etc.

Second, "if you hate rich people, or being rich, you will never be rich." Hate obscure your vision, so you can't learn. You think everything is because of outside/uncontrolled force, but in reality, it's the quality of you as a man that decides. Therefore, the rich (because of business) won't be afraid of fair competition.

But there are these rich politicians, rich supreme leaders, etc., who are basically criminals. The true entrepreneurs afraid of these types of rich people, and they must flee or become one of them to survive.

dothebeats

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You also got to have friends in high places, and maintain that friendship for as long as you can in order for it to be beneficial for you. One who is rich can just skip the "being a politician" part and just let these public officials work under their payroll and they'd still be rich. This is what the elites are doing right now and so far it's working since most of them are still on the top. The current societal setup is so bad that most people will accept any job you give them provided that the payment is big fat stacks of cash, that's why these rich will even be richer as time goes since they have the capacity to pay people to do odd jobs for them so they don't have to do it themselves.

amishmanish

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Quote from: paxmao on March 30, 2021, 06:36:08 AM

- You can easily create a "choir" or "court of sycophants" that will play your game. They will be cunning, smart, educated and you will make sure that you will pay them well. You can add another 10% of votes, if not more, on that. Their names are "KMPG", "Bearing Point", "Morgan Stanley", "Goldman Sach" and so many others that work day after day for you and do not want to end. Let´s make this a 15% of the quite well-to-do classes.

While it maybe true that the rich control the world, I cannot really agree that elite institutions purposefully exclude any body from rising to the top. Or that they purposefully train people to work in certain ways. We have enough examples of rags-to-riches in every society of the world.

Most of this is random in my opinion. The rich work very hard to preserve and prolong their wealth. A lot of poor people work hard and, indeed regularly break the glass ceiling to rich places where their earlier generations couldn't. This whole idea of a "game rigged against the common man" is little more than our own way of coping to our relative poverties.

Darkelf11

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The rich can handle their money properly because they want to make it more their money there are rich who can stable their mindset to earn more and there is some rich that if they had a lot of money they spend to all those things they want even though they didn't need. As you see people are getting rich because they know how it handles and make a double safe their money if they don't need it they didn't spend that's all. We don't need to spend too much money on those things we did not need. It depends on the person at the end of the day.

stompix

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Quote from: paxmao on March 30, 2021, 06:36:08 AM

If you are in the 10% of the richest you have a problem: You have something that everyone else would like to take from you. They cannot do this directly because the right to private property / ownership is normally granted and enforced.

So basically, what your saying is that the rich have a problem and BTC solves this problem. Grin

Quote from: paxmao on March 30, 2021, 06:36:08 AM

However, in a democracy, you run the very serious risk of people asking for laws that would force you to distribute wealth.

Nice finding out that the blockchain doesn't care about democracy and what a majority of hungry jackals vote for.
I always find it funny how people who claim to be bitcoiners and are saying how bitcoin is such a great thing are always finding fault in the current social order but ignoring that bitcoins do the same and stand for. My keys, my decisions, my money, NOT your business!

Quote from: Mauser on March 31, 2021, 02:10:21 AM

I don't think that distribution of wealth is a likely scenario in western countries. The problem ist that most rich people have their wealth invested in companies all around the world, so taking away ownership of a company or acquiring the company by the government wouldn't work well for a country.
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Nationalising industries and wealth of rich people is a very dangerous idea that could ruin the whole economy.

Common, let's try it again, I mean it has failed a hundred times in hundred countries already but maybe this time we will be lucky and ocne the planet align we will somehow not end all poor as all others did.

Topic: How the rich get richer and why it works - page 3. (Read 680 times)