Oxfam

[Plane]

http://www.msn.com/en-us/money/markets/number-of-billionaires-doubles-since-financial-crisis/ar-BBc0iEf

  I like a lot of things Oxfam does , sometimes quirky , they are not afraid to think outside the box and make aid to the third world in unusual ways.


     I do not like what they are doing in this article , they are spinning their wheels and wasting their time.

      They are upset that the number of wealthy is rising and the level of income of the wealthy is rising?

       This could be corrected with a good depression.

[Xavier_Onassis]

You are in no danger of becoming a billionaire.
Billionaires would not notice any change in their lifestyles.

Oxfam has the right idea here. right idea.

[Plane]

  Now how do you know that?

   The government paid me $200 for an invention once , I merely need to invent  five hundred million more inventions, or invent a few much more valuable things.

     Point is , nothing about restricting the income on the top earners and investors would raise anyone's fortunes.

      If someone invents a new thing , why limit how much it can grow?

[Xavier_Onassis]

This is not about preventing inventors. The billionaires are NOT inventors, nor do inventors yearn to have billions.

[Plane]

The most lucrative thing seems to be management .

  Even for inventors like Steven Jobs or Thomas Edison , just inventing something was only the beginning , managing and marketing the product had to happen as well to produce a harvest.

[Xavier_Onassis]

The really big money goes to financiers, like hedge fund managers that collect HUGE commissions. They produce nothing. They mostly prey on somewhat less wealthy rich people who think of themselves as "special", because not everyone can get into a hedge fund. There is a high minimum to invest, and you have to swear that you can afford to lose money. Bernie Madoff's clients were this sort of people.  If there were no hedge funds, no one would be worse off.

No one except hedge fund managers, at least.

Then there are the heirs of family fortunes, the Johnson & Johnsons, the Waltons, the Murdochs and a whole bunch more that are more anonymous.

[Plane]

That counts as management, and money management is in demand.


With our aging population there is a big future in products like retirement savings , mutual funds , etc.

I disagree that they produce nothing, if they do as advertised , they produce security and growth to their clients accounts.

   Bernie Madoff produced nothing indeed , but he produced his nothing contrary to the law, so he lives rent free now.

[Xavier_Onassis]

Hedge fund managers do not produce anything. All they do is extract a commission for providing very expensive advice that often costs people dearly.

Mutual fund managers typically get from 0.5% to 5% of the money they manage. Scottrade, Schwab, TD Waterhouse, Fidelity, Vanguard and TIAA-CREF provide excellent advice and services at below 3%, usually less than that. They will also manage your money for you. No business in the US gives better service than these guys. Hedge Fund managers are essentially ripoff artists who provide dubious investment and little service, compared to those mentioned, If they make a zillion a year, they should be taxed to help equalize our disgustingly unequal system. Weare something like the 28th most unequal of the top 30 economies.

[Plane]

How many of the least prosperous countries have a lot of equality of income?

This is a focus on something inconsequential.

Counterproductive even.

Before twenty years ago millionaires were extinct in China and the most common wage was pretty low.

Soon after they started allowing people to grow wealthy the common wage rose as well.

Now China has a large number of millionaires and a few are billionaires of the top rank of the planet , all the while the commonest wages have risen steadily.

Millionaires are not wealthy at the expense of the poor , quite the contrary, a rising millionaire who is not a criminal generally drags up dozens in his train.

[Xavier_Onassis]

The average Swede. the average Dane, the average Canadian is better off than the average American.

Inequality is bad for this country, and growing inequality such as we have now is bad for nearly all of us.