Why we give respect to Rich and no-respect to poor? - page 3.

johnyj

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Beyond Imagination

Quote from: Nicolas Dorier on September 06, 2014, 06:18:28 PM

Sure, as a libertarian, I do not endorse the current FED/banker system, I consider it like a fraud, and it is one of the reason why I am in Bitcoin.
But the crisis have made banks gone bankrupt (in Greece & USA, and I think more in the future), so they are not so invulnerable than that, despite the effort of the FED to make it otherwise by devaluating money.
This freaking system is artificially drawing smart people in finance, when they could create new business and job instead. (Remind me a book called "smart people should build things")

However, nowadays is the best period for the poor to become rich.
You don't need capital, only an internet connection.
Their is a skill shortage (http://www.zerohedge.com/news/2014-08-29/employers-arent-just-whining-skills-gap-real), and you can learn everything on internet, especially in the computing industry.
This is the great thing of the knowledge economy, and would thus transfer wealth from stupid rich to smart poor even faster. This is what I mean by "being the victim of his inferiors".

If you mean become rich in fiat money, then it is still the same old game where bankers positioned at the top. You can't earn money without bankers first release money at higher level. Even there is a skill shortage, without money that shortage will not translate into income

I just realized recently that money has never been generated by free market choice, it is always an imagination in people's mind and bankers/governments create money to fit this imagination: People think money is a measurement/unit of value, and the more you have the more things you can buy. Then as an authority they create this unit of value as money, give it a value and then people are satisfied. Since people need money to measure the amount of value, they seldom notice that the value of this unit itself is changing

twiifm

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Quote from: Nicolas Dorier on September 06, 2014, 06:18:28 PM

This freaking system is artificially drawing smart people in finance, when they could create new business and job instead. (Remind me a book called "smart people should build things")

You mean build stuff like a chat app that you can take nude selfies that self destruct? People follow the money. I thought you were a "free market" proponent

Nicolas Dorier

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Quote from: johnyj on September 06, 2014, 04:01:08 PM

Quote from: Nicolas Dorier on September 06, 2014, 05:16:23 AM

The rich does not make money by doing nothing, if he does nothing he will be outsmarted and be the victim of its inferiors.

They might be doing something that the poor never can do, because their different position in society, especially their large capital

Take bank for example, they just earn interest difference between loan and saving, and get more loans from FED when necessary. This is a no-brainer job, you don't need a college degree to be a banker. But only those with large amount of capital can do it, and they already have long term relationship with FED and other large commercial banks

There are so many smart people out there, they are working hard and very poor, because they failed to see the big picture and truth from the right angle

Sure, as a libertarian, I do not endorse the current FED/banker system, I consider it like a fraud, and it is one of the reason why I am in Bitcoin.
But the crisis have made banks gone bankrupt (in Greece & USA, and I think more in the future), so they are not so invulnerable than that, despite the effort of the FED to make it otherwise by devaluating money.
This freaking system is artificially drawing smart people in finance, when they could create new business and job instead. (Remind me a book called "smart people should build things")

However, nowadays is the best period for the poor to become rich.
You don't need capital, only an internet connection.
Their is a skill shortage (http://www.zerohedge.com/news/2014-08-29/employers-arent-just-whining-skills-gap-real), and you can learn everything on internet, especially in the computing industry.
This is the great thing of the knowledge economy, and would thus transfer wealth from stupid rich to smart poor even faster. This is what I mean by "being the victim of his inferiors".

johnyj

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Activity: 1988

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Beyond Imagination

Quote from: Nicolas Dorier on September 06, 2014, 05:16:23 AM

The rich does not make money by doing nothing, if he does nothing he will be outsmarted and be the victim of its inferiors.

They might be doing something that the poor never can do, because their different position in society, especially their large capital

Take bank for example, they just earn interest difference between loan and saving, and get more loans from FED when necessary. This is a no-brainer job, you don't need a college degree to be a banker. But only those with large amount of capital can do it, and they already have long term relationship with FED and other large commercial banks

There are so many smart people out there, they are working hard and very poor, because they failed to see the big picture and truth from the right angle

Nicolas Dorier

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Quote from: the joint on September 06, 2014, 03:07:33 AM

Quote from: master-P on September 06, 2014, 01:19:28 AM

Quote from: twiifm on September 05, 2014, 09:08:43 PM

Quote from: the joint on September 05, 2014, 08:43:32 PM

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

I agree that successful people deserve to be rich. But the problem is inequality gap gets too big then entire economy suffers because the 1% cant do all the consumption. You want a big middle class to do most of the consumption

Since the rich make most of their money from investments, when the gap gets to be too large, profits will suffer, and investments will follow, and as a result the gap will decrease.

Maybe it's just late, but, referring to the bolded snippet, why do you think this is the case?

If I'm following your train of thought, you're ~~saying~~ implying that the profits of the rich will decrease when increasing wealth disparity forces the middle class to spend less. If this is true, then sure, fewer profits mean that there may be less 'new' money for the rich to spend on 'new' investments...

...but this is because the middle class has less money, too. How does the gap change significantly if both classes lose purchasing power? Moreover, over time, the investments of the rich are more likely to appreciate in value, particularly hard assets like real estate.

How can it appreciate in value when no one is left for buying it ?
Especially in real estate, the crisis should have taught people that an house does not automatically increase in value.
And equities will not be protected from government created bubble. (QE)
The rich does not make money by doing nothing, if he does nothing he will be outsmarted and be the victim of its inferiors.

the joint

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Quote from: master-P on September 06, 2014, 01:19:28 AM

Quote from: twiifm on September 05, 2014, 09:08:43 PM

Quote from: the joint on September 05, 2014, 08:43:32 PM

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

I agree that successful people deserve to be rich. But the problem is inequality gap gets too big then entire economy suffers because the 1% cant do all the consumption. You want a big middle class to do most of the consumption

Since the rich make most of their money from investments, when the gap gets to be too large, profits will suffer, and investments will follow, and as a result the gap will decrease.

Maybe it's just late, but, referring to the bolded snippet, why do you think this is the case?

If I'm following your train of thought, you're ~~saying~~ implying that the profits of the rich will decrease when increasing wealth disparity forces the middle class to spend less. If this is true, then sure, fewer profits mean that there may be less 'new' money for the rich to spend on 'new' investments...

...but this is because the middle class has less money, too. How does the gap change significantly if both classes lose purchasing power? Moreover, over time, the investments of the rich are more likely to appreciate in value, particularly hard assets like real estate.

master-P

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https://keybase.io/masterp FREE Escrow Service

Quote from: twiifm on September 05, 2014, 09:08:43 PM

Quote from: the joint on September 05, 2014, 08:43:32 PM

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

I agree that successful people deserve to be rich. But the problem is inequality gap gets too big then entire economy suffers because the 1% cant do all the consumption. You want a big middle class to do most of the consumption

Since the rich make most of their money from investments, when the gap gets to be too large, profits will suffer, and investments will follow, and as a result the gap will decrease.

twiifm

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Quote from: the joint on September 05, 2014, 10:07:26 PM

Quote from: twiifm on September 05, 2014, 09:08:43 PM

Quote from: the joint on September 05, 2014, 08:43:32 PM

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

I agree that successful people deserve to be rich. But the problem is inequality gap gets too big then entire economy suffers because the 1% cant do all the consumption. You want a big middle class to do most of the consumption

Yeah, but unfortunately that's more of a political/policy issue. I'm sure rich CEO's wouldn't mind a large, affluent middle class if it means that people will be buying more of their goods and services.

That's right its a policy issue rather than banking issue. There are few theories to why this happen.

1. Tax policy. Capital gains is capped at 15% and ordinary income is progressive.

2. Deregulation from the 80's led to CEO compensation to take the form of stock options. lt follows that most of their income is taxed as capital gains rather than ordinary income

3. Globalization forced companies to reduce salaries or outsource jobs. This multiplied the effect of inequality gap

But there is a finance component to it as well because when asset prices outpace inflation the asset holders have more to gain. This also contributes to greater inequality gap

the joint

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Quote from: twiifm on September 05, 2014, 09:08:43 PM

Quote from: the joint on September 05, 2014, 08:43:32 PM

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

I agree that successful people deserve to be rich. But the problem is inequality gap gets too big then entire economy suffers because the 1% cant do all the consumption. You want a big middle class to do most of the consumption

Yeah, but unfortunately that's more of a political/policy issue. I'm sure rich CEO's wouldn't mind a large, affluent middle class if it means that people will be buying more of their goods and services.

twiifm

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Quote from: the joint on September 05, 2014, 08:43:32 PM

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

I agree that successful people deserve to be rich. But the problem is inequality gap gets too big then entire economy suffers because the 1% cant do all the consumption. You want a big middle class to do most of the consumption

the joint

legendary

Activity: 1834

Merit: 1020

First, there's nothing wrong with being rich. Sure, a lot of wealthy people are born into wealth, but that usually speaks to the successes of their ancestors.

Second, not all rich people are necrssarily bad or selfish, even billionaires. A lot of people don't understand that many wealthy people (e.g. CEO's) spent years and years working ridiculously long hours, sacrificing personal relationships and leisure activities to spur their careers. Most of the time, profits are reinvested back into the pursuit of career growth and development, whether that means additional schooling or perhaps helping a business to grow. If a surgeon can save lives that no one else can, he deserves the ~$300k/yr. he gets. If a CEO creates a business that provides jobs to hundreds of people so they can provide for themselves and their families, he deserves to keep millions.

A lot of people who complain about the rich could very well pursue employment in high-paying fields. If you enter into a low-paying field (like I did while pursuing employment in the social services industry) then you should know what you're getting yourself into. If you want more money, get out your thinking cap and come up with a plan to make it happen.

steelhouse

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You say "we" when you should say I.

I give much more respect to Mcdonalds workers than Robert Reich, school teachers, professors, or Barack Obama. The Koch brothers never asked for anything from Robert Reich except stop the financial bullying..

DhaniBoy

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it is common in this world, the rich are always respected for his money owned, while the opposite is poor always ignored, as God's creatures, we should keep mutual respect between people, regardless of whether rich or poor, how its important role in society, and how much benefit can be given to the public, it was considered by God to his creatures, Hopefully we become useful for others ... Tongue

LitecoinBoss

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✘ΑΦΩ✘

Quote from: BitCoinNutJob on August 31, 2014, 03:42:57 AM

Because that is what capitalism does (right or wrongly). Money = you are worthy, no money = you are not worthy.

Not just capitalism. People in the new world are now built with that kind of attitude

Nicolas Dorier

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Quote from: RodeoX on September 04, 2014, 02:12:48 PM

It seems to me that if you respect people based on the money they have, you don't understand the value of anything. Some of the kindest, smartest people I know are poor. Well, money poor. I think they are rich beyond measure.

I do not object, except if this poor smart people have subsidies, in other word, a right to enforce by gov intervention to take money out of my pocket without my consent. (Well, I admit that rich are also good at getting subsidies, which I despise as much)
No matter how kind a person can be, if he lives on somebody else support without his consent (one example is getting subsidies), he is a scum. I will never compromise on that.

Quote

Whether a person is rich or poor has no bearing on whether they deserve respect. The important question is: how did they get so rich or so poor?

Yes, but in the case where you meet someone you don't know, and don't have any information about how he got the money, by default, you'll give more respect to the rich.
And that's normal, since I think that only a small fraction rich did it on the sacrifices of others. (ie without consent of the one who enriched him)

wormbog

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Whether a person is rich or poor has no bearing on whether they deserve respect. The important question is: how did they get so rich or so poor?

Why do people tend to show more respect for the rich and less for the poor? It's because rich people have the power to help you if they like you, and to hurt you if they don't.

An example. I once had a client who was incredibly rich, a multi-billionaire. As I worked on her project I found that the person she had assigned to oversee the project on her behalf was an idiot and the project was doomed to failure. I decided to terminate her contract and walk away. After much thought I decided to refund all the money she had spent on the project. Even though I knew she could afford to lose that money I also knew that she could easily use the courts to sue me out of business if she felt insulted.

The poor show respect to the rich out of a combination of greed and fear.

RodeoX

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The revolution will be monetized!

It seems to me that if you respect people based on the money they have, you don't understand the value of anything. Some of the kindest, smartest people I know are poor. Well, money poor. I think they are rich beyond measure.

counter

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Time is on our side, yes it is!

Quote from: Samix on August 29, 2014, 09:57:44 AM

hi actually i m not a newbie but newbie in forum

people love rich and give all respect to them if rich wants they give them ther A** without any reason but the reason behind will be money..

the community only love rick why not poor ,,, poor deserve`s more respect ... poor have much more peace in them expect rich ...

if rich wants help everyone help them if poor wants no one help expect few people

please give me some predictions

Because our society is like a dysfunctional family in many ways. Many those with obscene amounts of wealth believer they are or are seen by too many people as superior to others with less. It's doesn't matter if they are dumb and immoral, what counts is how much wealth and power they have.

Many People on the other end of the spectrum can't see past the glitz and glamor and fall for the illusion. They will likely then will sellout for a chance to have a similar lifestyle. I think most of us are guilty of this kind of behavior in one way or another and some more so then others.

Arriemoller

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Cлaвa Укpaїнi!

If you guys seriously think that a head of state only works 8 hours a day and then relaxes for the rest of the time, you are seriously below the IQ median.
When you have evolved from Disney world to the real world we can start a serious debate.

obocaman

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Quote from: zimmah on September 03, 2014, 11:43:41 AM

Quote from: Arriemoller on September 03, 2014, 06:53:03 AM

The king works a lot more than 12 hours a day, so the king is the hardest worker in your comparison.
Kids don't work in china, they go to school, just like in the west.
And the wealth is not as unbalanced as you think, and it is constantly getting more even, due to capitalism actually. This is my evidence, http://www.ted.com/talks/hans_rosling_shows_the_best_stats_you_ve_ever_seen

In the last 20 years the proportion of the world population living in extreme poverty has almost halved.
Here is an ignorance survey for USA http://www.gapminder.org/news/ignorance-survey-in-the-usa-2013/#.VAb8pWM4jIU
And here you can find the same thing for Sweden and Norway, pretty much the same results, http://www.gapminder.org/GapminderMedia/wp-uploads/Novus-Gapminder-Ignorance-Survey-SWE-NO-nov_dec_20131.pdf

not sure if trolling or just stupid

LOL at kings ever working. In what planet?

Topic: Why we give respect to Rich and no-respect to poor? - page 3. (Read 9133 times)