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Thread: Why are some people so fucking rich?

  1. #1
    Banned Array
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    Question Why are some people so fucking rich?

    Seriously.

    Don't tell me they work hard for their money, because I don't believe it.

    It is as if they have the power to print their own money.

    Everytime I hear the financial market says X billion dollars, or announce somr really big or astronomical number in terms of currency, I go like

  2. #2
    Senior Member Array ACow's Avatar
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    That's one hell of a question you've asked...

    So i'm just going to tell you that the psychological propensities and conditioning of most humans combined with our models of society work to concentrate masses of wealth into the hands of the few.

    Explaining it beyond that is actually quite complicated and requires reference some economic concepts and some commentary on psychology and sociology, and probably beyond most humans to understand at this stage, otherwise everyone would be able to annunciate the reasons and effects and our society would probably not be the way it is.

    To get you started on the path of a satisfactory understanding, I would suggest starting to think about a few phenomenon:

    1.) The nature of wages, prices and value. Marx had a nice thing called the labour theory of value. First you need to comprehend why that theory was wrong, and how such things relate to each other. Why wages are higher in areas with large amounts of money/capital, etc...

    2.) The tendancies of humans to turn complicated systems into groups of us vs them, simple ideologies, and social signifiers.

    3.) The fact that greater wealth will, ceteris paribus, increase the option of investments open to you, and therefore greater returns. Or to put it in english, it is easier to obtain more money once you have substantial amounts of money already. This effect will naturally siphon money into a concentrated masses.

    There's a whole bunch of other subtleties going on though as well...

  3. #3
    All growed up Metal Slug Champion Array Deckard's Avatar
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    Given a competitive capitalistic system, assume the principle exists that as an entity's wealth increases, so does its ability to exploit those poorer than it. The inevitable result is that a small number of highly influential/wealthy entities will emerge. Money makes money.

    A good example is how the health insurance corporations in the US have influenced the beliefs of voters to the extent that they actually vote against their own interests. Crazy world.

  4. #4
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    a good example in australia is how the reserve bank effectively directly controls the economy through interest rates. they put the rate up, the bank passes it on and you have less money to spend this week. vice versa. and afaik americans dont have monthly rate changes, just annual ones. they cant lower interest rates altogether though to give us more wealth, as our spending will drive infaltion too high...its a continous cycle of metering really. once you grow beyond the mortgage cycle wealth wise, this no longer affects you and you are free to invest and continue investing at your leisure.

    im a layman in this field if you didnt notice, but my .02

  5. #5
    .plink and fluffly. Array aelan's Avatar
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    These are stories from Singapore. Worth a read, especially the comments by the guy named Whizzard. He details how he made his millions by the age of 40. Another guy James claims to have reached 1mn by mid 30s. And none of these guys inherited.

    http://www.salary.sg/2007/watching-m.../#comment-1761

    If you need a summary:

    Hard work
    Prudent savings
    Investments
    Recognising opportunities and taking them
    Knowing when to exit
    Maintaining focus and a reasonable lifestyle free of heavy expenditure.
    And what there is between a man and a woman.
    And in which darkness it can best be proved.
    Quarantine, Eavan Boland

    transcontinental cookiedust-bunny writes. Uytuun's blogpet, property of bluebell & Tpol.

  6. #6
    t(._.)t Array squats's Avatar
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    I know a guy who made hundreds of million dollars from slot machines. He didn't inherit. I know another guy who made millions from a database. The thing they shared was that they successfully scaled their little technological doohicky up to where it made them loads o cash.

    The slot machine guy rents space in casinos for his games, and then sends his brother to bring back bags of cash across the desert.

  7. #7
    .plink and fluffly. Array aelan's Avatar
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    ^ "Recognising opportunities and taking them"

    And what there is between a man and a woman.
    And in which darkness it can best be proved.
    Quarantine, Eavan Boland

    transcontinental cookiedust-bunny writes. Uytuun's blogpet, property of bluebell & Tpol.

  8. #8
    Senior Member Array kuranes's Avatar
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    Quote Originally Posted by Deckard View Post
    the health insurance corporations in the US have influenced the beliefs of voters to the extent that they actually vote against their own interests. Crazy world.
    Painfully true.
    "Ring the bells that still can ring. Forget your perfect offering. There is a crack in everything. That's how the light gets in." Leonard Cohen

  9. #9
    .plink and fluffly. Array aelan's Avatar
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    Quote Originally Posted by Mr.Defense View Post

    Don't tell me they work hard for their money, because I don't believe it.
    Not all may work hard, but many do. Beware as well of being closed to what they could share just because you do not think it is possible. Your limits do not apply to everyone.

    In many cases, these guys are rich because they've continued to believe in themselves and to work on things in the face of "impossible".

    In my line, I've worked with folks who started out dirt-poor (and Asian poverty is much more scrap-barrel than Western nations), and built millions via what I described above. There is a certain hunger behind all of them and a drive to always do better.

    The other thing you're missing is, most work smart. They also know to make their money work for them. Refer Hustler's interview thread. I think it gives quite personal stories.
    And what there is between a man and a woman.
    And in which darkness it can best be proved.
    Quarantine, Eavan Boland

    transcontinental cookiedust-bunny writes. Uytuun's blogpet, property of bluebell & Tpol.

  10. #10
    on being sane Array kali's Avatar
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    Because they have a lot of money.

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