- Elonzo Musky gets $1 a year from being the CEO of several companies, yet, he is now "worth" over one trillion dollars. This is even worse than congress critters who become multi-millionaires on their congress salaries.
- "Elanzo Musky is now a trillionaire, we should tax all of that and end world hunger," says many pundits and all the neo-liberals on twatter.
- Elanzo Musky's new company makes even less per share than his other corporations, and still the initial IPO is sky high. Is this all hype? Was all of this manipulation to make Musky a "Trillionaire"?
Of course this is all hype. A trillion dollars did not just enter the stock market.
A trillion dollars would be every man, woman and child in America putting in $3000. Most American families don't have $500 for an emergency.
Elanzo Musky is no richer today than he was yesterday.
And people need to comprehend this, and wise up to rich-people games.
Elanzo Musky is a brokie
What do you call someone who puts all their purchases on a credit card and never pays it off?
Obviously you call them rich!
No, really. That is what American's call people who charge up everything on credit cards.
Look at any housing development of McMansions, and almost every one of them is living way passed their means. In debt up passed their eye balls.
Elanzo is no different.
He makes $1 a year from each of the corporations he is CEO of.
Everything else is borrowed.
Musky could end world hunger
Money doesn't put fish on the table, FISH! puts fish on the table. - The Tick
When you can just print currency on demand, there is no connection between currency and affording something. Money is supposed to be a representation of all the goods in the world. Something like, all the money in the world should buy all the goods in the world.
If you are on an island, and your friend has one orange, and you have a $10 bill in your pocket, the orange costs $10. If you have a $20 bill instead, the orange costs $20. This is the analogy. It gets more complicated with all the money and all the goods.
But with currency, and derivatives, there is no upper limit to how much "money" you have.
So, Musky wants to buy something, so he goes to the BANK, and puts up some stock, or stock options, as collateral for a loan. (If the stock goes up, he gets stock back and the loan dismissed. If not, the bank gets the stock and the loan is dismissed. Nothing real changed hands. Nothing taxable. Nothing to see here, move along…)
Musky doesn't really have any money, and if he borrows some currency, to buy food, it will go up by the same amount that he borrowed into existence. He will be constantly chasing his own tail.
The world of the wealthy elite
The middle class thinks that everything can just be bought if you have enough money. And this is only sorta true when there is excess to buy, and you aren't rich enough to move the market.
They "elite" live in a different world. You cannot just "buy" a multi-million dollar mansion. (these are not the McMansions that have now inflated to just over a million) Acquiring one of those mansions is more of a negotiation with the rest of the "elite". And the negotiation is mostly about what we will tell the plebs about how much it "cost" and "who" bought it.
Bill Cosby thought he was rich and tried to buy CBS. This is why he ended up in jail. He was not an "elite", and thus, couldn't buy CBS for any amount. But, on paper, Cosby had more money than CBS was worth.
It is the same with super-yachts and private jets. It is more about who you know, and getting on the waiting list. Sure, these people can borrow any amount of money, but that isn't the real price. They all can print/borrow any amount of money.
Now, about feeding everyone in the world.
This is doable if you get everyone in the world to become their own farmers. If everyone had a greenhouse, no one would be going hungry.
However, this is talking about clouds in the sky, la-la land.
VERY POWERFUL people do not want everyone fed. T.H.E.Y. want people starving and others on the edge of starving.
People in Venezuela were eating zoo animals, and still no one was going out and starting a farm. 365 days/year growing cycle, and no one would invest in a farm. Because gangs would take it. And if not them, the biggest gang, the Govern-cement would take it.
The US sends lots of food to Africa. We would have done much better by sending tractors and teaching farming. But, no, we propped up warlords by allowing them to monopolize food delivery. And, who would start a farm when their competition was giving food away for free?
Having lots of money cannot feed everyone. Especially since that "money" doesn't really exist. "Net Worth" is not a real number when you include numbers derived from market cap.
All images in this post are my own original creations.
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