Here's a video that shows a lot about what goes on in the mind of one of the mega-wealthy. Note how he goes from smug, condescending arrogance to showing anger, contempt, indignation, and at the end ignorance of what she was talking about.
Behold, Kevin O'Leary, the Shark Tank star, talking in 2014 about how the world's 3.5 billion people…
Here's a video that shows a lot about what goes on in the mind of one of the mega-wealthy. Note how he goes from smug, condescending arrogance to showing anger, contempt, indignation, and at the end ignorance of what she was talking about.
Behold, Kevin O'Leary, the Shark Tank star, talking in 2014 about how the world's 3.5 billion people should each dedicate their lives to work hard at becoming a billionaire!
If the world could implement Kevin's prescription for eliminating poverty by each person in poverty becoming even simply the poorest billionaire of the top 85 back in 2014*, what amount of wealth creation would be needed?
$20.65 million trillion! (3,500,000,000 people X $5,900,000,000 = $20,650,000,000,000,000,000).
THAT is where the clear and simple reality Obliterates this mega-wealthy's crackpot fantasy.
There is NOWHERE NEAR this kind of wealth here in existence or as potential. Consider in that according to US federal reserve wealth data**, today there's about $166 Trillion of wealth in the USA.
So to fill in that gap, how much wealth is missing in the USA, or in need of "wealth creation"?
$20.649 million trillion ( = $20.65 million trillion - $166 trillion). Or in other words, the current wealth is a stunningly insignificant amount compared to what's needed in Kevin's fantasy.
For Kevin to put this out as a remedy to world poverty is many things besides just plain nuts.
He shows a kind of pathology among the ultra wealthy that contributes to so very many people struggling to live.
Here's a video that shows a lot about what goes on in the mind of one of the mega-wealthy. Note how he goes from smug, condescending arrogance to showing anger, contempt, indignation, and at the end ignorance of what she was talking about.
Behold, Kevin O'Leary, the Shark Tank star, talking in 2014 about how the world's 3.5 billion people should each dedicate their lives to work hard at becoming a billionaire!
https://www.youtube.com/watch?v=AuqemytQ5QA
If the world could implement Kevin's prescription for eliminating poverty by each person in poverty becoming even simply the poorest billionaire of the top 85 back in 2014*, what amount of wealth creation would be needed?
$20.65 million trillion! (3,500,000,000 people X $5,900,000,000 = $20,650,000,000,000,000,000).
THAT is where the clear and simple reality Obliterates this mega-wealthy's crackpot fantasy.
There is NOWHERE NEAR this kind of wealth here in existence or as potential. Consider in that according to US federal reserve wealth data**, today there's about $166 Trillion of wealth in the USA.
So to fill in that gap, how much wealth is missing in the USA, or in need of "wealth creation"?
$20.649 million trillion ( = $20.65 million trillion - $166 trillion). Or in other words, the current wealth is a stunningly insignificant amount compared to what's needed in Kevin's fantasy.
For Kevin to put this out as a remedy to world poverty is many things besides just plain nuts.
He shows a kind of pathology among the ultra wealthy that contributes to so very many people struggling to live.
the References . .
*
https://www.forbes.com/sites/afontevecchia/2014/09/29/forbes-400-full-list-of-americas-richest-people/?sh=5291fc4a42e3
** https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:136;series:Assets;demographic:networth;population:1,3,5,7,9;units:levels
I think Thom has discussed the fallacy of the weird old meme: "Pull yourself up by the bootstraps."