Stevo, are you aware that every year roughly 40% of businesses FAIL? Have you ever done a comparison of publicly listed companies from years ago to those listed today [many no longer exist]. Are you aware that for many people occupations such as medicine and public school education are a calling in life rather than an income?
ON a different thread a week or so I ago I posted the following in response to DavoMagic's comment that "The ponzi schemes of the elite are running out of Gas."
Here a just a few of the points made:
"... Over the past few decades, wealth has become more concentrated in the hands of a few global elite. ..."
"... when billionaires get their wealth because of political connections, that wealth inequality tends to drag on the broader economy ..."
"... In other words, the higher the proportion of billionaire wealth in a country, the slower that country’s growth. ..."
"... Looking at all the data, the researchers found that Russia, Argentina, Colombia, Malaysia, India, Australia, Indonesia, Thailand, South Korea and Italy had relatively more politically connected wealth. ..."
"... wealth inequality that came from political connections was responsible for nearly all the negative effect on economic growth that the researchers had observed from wealth inequality overall. ..."
"... Why is politically connected wealth inequality so bad for a country? The researchers suggest that when wealth and power becomes concentrated in the hands of a few, those business and political elites often influence government policy in a way that hurts the broader interest. ..."
"... Over 80 per cent of the wealthiest Australians have made their fortunes in property, mining, banking, superannuation and finance generally - all heavily regulated industries in which fortunes can be made by getting favourable property rezonings, planning law exemptions, mining concessions, labour law exemptions, money creation powers and mandated markets of many stripes. ..."
"... the Australian situation is in stark contrast to that of the US, where only 1 per cent of the billionaires reportedly made their wealth through political connections. ..."
