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American Capital Agency Corp. Message Board

  • gary_kain gary_kain Mar 24, 2014 6:17 PM Flag

    walrathcraig550 said "everyone can''t be a millionaire do the math."

    can anyone tell me what kind of economic system restricts people on how much hey can make and own?

    Anyone?

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    • Smells more like incompetence to me. The number of inaccurate and misleading statements .

    • I'll make sure to leave a message for my buddy Elon Musk, would like to see the markets reaction to a couple $billy hitting the ask. underground stock alerts is a site I would recommend, google them. It's free and open source, made $90k last year on their picks, started in Oct of last year.

    • long here, gonna ride this sucker back to the top. have you guys heard of underground stock alerts? I made $33k on their last pick. Derek422 recommended them to me on this board.

    • Sure I'll tell you. The Gdp would have to be 100 times as large for everyone to have a chance to be a millionaire. The problem in today's economy is that the rich are the only ones getting ahead.

      • 3 Replies to walrathcraig550
      • If the GDP was that large you might be a millionaire but the rich would then be trillionaires and you'd still be green with envy.

        In point of fact, everyone does have the chance to be a millionaire but getting there involves actual work and planning so I don't see that having much appeal to you. The wife and I only made decent middle class wages but we lived below our means and always fed the bank account before buying toys. Later on we began investing and now, baring a total collapse, we're pretty well off. We got no inheritances, no government handouts, no huge lucky breaks, just good money management over time. Anyone can choose to do that. You can also choose to do nothing and whine about how unfair the world is.

        It's up to you.

      • You are correct. Everyone cannot be a millionaire because there is not enough money in the economy and there never will be. Only those who want to work the hardest or who get lucky and win the lottery or have rich parents who are generous to their children can be millionaires.

        What you are really alluding to is equality. If everyone the US made the exactly the same amount we would all be getting $47k a year. That is the total income of everyone in the US divided by the number of households.

        There is one major flaw with this analysis. If everyone made exactly the same amount then there is no motivation for anyone to do anything other than the bare minimum required to justify this constant wage. This results in a Soviet Union type of system where the quality of life continuously gets worse once people lose the idealist zeal that came after the revolution and start to think of themselves as people always do eventually. Thus there would not be $47k per person as the GDP would be significantly less than it is today and it would be more like 1/10th that amount.

        The fact is that the closer any system approaches equality for all the less motivated people become to improve their personal situation because they cannot keep the reward and this eventually causes economic situation to reverse from a state of growth to a state of contraction. This is a basic tenant of human nature that is programmed into our DNA and it cannot be schooled out no matter how hard you try to beat it into people in education camps or whatever. This is the basic reason why socialism always causes economic growth to decline and for long term prosperity to be less for everyone. Because even the poorest person here in the US is better off than the middle class in a highly socialistic system that has matured enough to suffer these ill effects related to human nature.

        For any system to work human nature has to be considered but socialism ignores it. Capitalism accepts it.

      • your math is flawed..

        PS why cant the economy grow?
        What if every kid in this country decided to go to college and major in math, business, law, medicine and technology related fields. They decided to take entrepreneurial classes.They decided to stick it out, and graduate. ( That's what the many of today's rich did)
        except for Bill Gates and Mark Zuckerberg, they dropped out of college

 
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