This is a problem that emanates from the United States but has also crossed the border into my country of Canada. The problem is that a large portion of the electorate vote for reforms that are especially good for the rich of the country. These policies are not so good for the poor or the middle class but even though this group outnumbers everyone else they vote the pro rich policies in.
I think a large portion of the electorate believes that the right attitude will make them rich. I think they are delusional. The vast majority will never be that rich, it happens every generation. Positive thinking is not enough to get you there.
Let me first state that you don’t need the permission of the rich to become rich. Indeed if you were to meet on a superlative golf course with your favourite financial wizard to discuss your business idea that might get you to their standing, I bet you might be heard.
Your rich wizard will probably ask you questions like why and even agree to meet to discuss it further. Then when they know your business program well enough they’ll cut you out and do it themselves.
Now you can probably find business wizards who would deny this. Of course they deny it because they want you to have confidence in them.
But the fact of the matter is, you don’t need the permission of rich people to be rich – instead you need society’s permission.
I once thought of writing a story where “spot inflation” occurs in society. You see, the mega wealthy live in tiny enclaves that it would be easy to surround and let very little in or out. (You’re thinking helicopter – don’t forget the rest of society pays for something called the military). You could tax food and necessities for these areas at thousands or millions of times the worth of the products. Sure the rich would go on a firing spree to find people to dare crossing the line. But everyone fired could be hired by the spot inflation people. The line would be strengthened further.
And most of economics is based on belief. Paper currency is no longer backed by gold. Just the government. Bonds are backed by the institution or corporation that put them out. Many times these corporations and institutions failed to back them and the bonds became worthless. Company stock can be made worthless, too.
I state it again. Society permits certain people to be rich or not.
Did you hear the political lie over the last few years that letting the mega rich keep more money leads to jobs?
I don’t know about you but the fastest way to make money get back into the economy is by giving it to poor people. Give all the poor $100 more and watch it go back into the economy almost instantly. The rich will invest to make more money. Like buying up coffee crops when that occupation is in surplus growth and then saving the surplus till coffee yields are scarce. Then while the price is up the rich can sell their sat on coffee at a big profit. Notice that nothing gets done with this money for years and it thus doesn’t get back into the economy for years. The rich person might have to pay for storage over the time of this scheme,, but that needn’t take place in this country.
Not to mention the propensity of the rich to invest in foreign markets. And when you have all the world to play with, the domestic market only rarely seems good.
And then there is my favourite scam of the mega rich – portraying themselves as an expert in the stock market. Then buying certain stocks. Then on a stock talk show giving the buy signal for the stocks they just bought. Then watch the public improve their investments. Then later they can sell these stocks. After they’ve sold them, they can tell their followers to sell. Look at the small risks they’ve incurred and the potential for their followers to make them lots of money.
Stop believing so strongly in the mega rich. They’re just out to make a buck and the easiest target is you. Please don’t vote the way they want you to vote.
And I know one sure thing. You’ll get the message if I ever become rich.
And then I’ll never get to do the stock picking thing.