The fact that Musk has lost $100B over the last month but is still the wealthiest person on Earth and financially unharmed in the slightest—all while wealth and income inequality is worse now than it was after the Great Depression—is Exhibit A on why we need to tax billionaires out of existence.
@QasimRashid or maybe ban the power structures and systems that result in billionaires. Corporations and stock markets
@therandomviking @QasimRashid Why ban the stock market? A company emit shares to fund its investments, and in return, everyone can have some stake in the company and earn from its success. It's a very good mechanism. Unfortunately, you have to invest wisely to avoid being pulled over by billionaires. I don't see the point of banning ways to get rich just because you didn't succeed.
@Xardas @QasimRashid that is due to a failure to think critically and probably a sociopathic lack of morals and empathy.
@therandomviking @QasimRashid What does critical thinking and empathy have to do with the stock market? It is not a money printer. I have to take a risk and invest my money in a company that I believe in and hope that it will be profitable. I'm not hurting anyone with this. Trying to ban the stock market, and criticizing it, is the result of a lack of understanding of economics.
@Xardas @QasimRashid no it isn't. It's from understanding the stock market and i don't have time to explain right now. Stocks don't work like you think in real life. They don't represent the value of a company. They are just rich people feelings.
@therandomviking @QasimRashid Many factors influence the price of a stock shares. There is a P/E ratio, which determines the dependence of the stock price on the company's earnings. It's not at all buying a stock because you "feel" that way. You buy if you believe that the company is capable of generating such profits in the future to justify the stock price, and you analyze the data. If you buy just because you "feel" that way, you don't know the stock market.
@Xardas @QasimRashid ah so not just because you "feel" it but because you feel like it's a good investment. I see. Completely different...
@therandomviking Did you understand anything from what I wrote? Because at this point you are just trolling. You rely on data. Statistics, numbers. Am I speaking too difficult words for you?
@therandomviking Okay. I read on your profile that you are a communist. That explains a lot
@Xardas you are bad at reading