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Oh the money is there. But its all tied up with billionaires
The 1% accounts for 60% of spending. But they are all over leveraged or waiting for the inevitable crash so they can buy everything cheap and increase their hoard.
Compared to the ruling class, the 1%s are practically destitute
I'd love to see a source for that claim, that's some very intetesting piece of information (if true)
Rough numbers so take with a grain of salt.
https://dqydj.com/net-worth-percentiles/
When you look at the ultra wealthy 60 million is pocket change
Absolutely, but how many ultra wealthy are politicians or top bureaucrats? I'd think they would not stoop so low as to actually BE politicians instead of just... buying some.
Yes, exactly the ruling class. They buy people who enact laws that benefit them
The difference between a millionaire and a billionaire is roughly a billion dollars.
That's true, I'm more unsure about if the ruling class are bilionaires. I mean okay... it's an oligarchy where billionairs simply buy politicians or both parties at once... but "the ruling class" would usually mean politicians and top bureaucrats, wouldn't it?
It would mean it, if the politicians are the ones ruling, but since the politicians aren't the ones ruling they would not be the ruling class is what I meant
Ah, thanks, with that definition the factoid becomes way less interesting (as in not new to me)
I think I might go with your definition from now on, seems closer to official definitions than what I thought it would be.
Interesting that it translates to "political class" in german where the definition is very different, because "political class" there is basically defined as "career politicians" and excludes the capitalists ruling through financial instead of representative power. I think that's where my misconception stems from.
But won't that new ballroom be something?
/s
But billionaires aren’t the main consumer base for these brands. They buy boutique appliances and health foods more than they buy sodium laced chipped meat products and mom-and-pop’s favorite dishwasher.
For sure, I was just saying that the people who buy this stuff's money is tied up with the billionaires
Absolutely - you’re right. I just mean that these brands are complaining that they don’t benefit from their own CEOs having all the money, which is kind of amusing