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B-B-But B-Biden!! (lemmy.dbzer0.com)
submitted 1 year ago by to c/politicalmemes@lemmy.world
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ETA!!!

Sorry to offend so many people with this OLD meme in a MEME community!

Feel free to post more recent content!

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[–] 1 point 1 year ago (3 children)

But, once the valuation is realized....

Which it hasn't, in the case I'm referring to, where it's being claimed that net worth increases = equivalent decreases in others' cash reserves.

The notion that the world's wealth is zero sum (which is required to believe the foolishness above), when it's exceedingly obvious that new wealth is created constantly, is a display of blatant ignorance of basic economics.

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  • [–] 0 points 1 year ago* (2 children)

    What case are you referring to? The initial comment was on how the stock market transfers wealth from poor people to rich people over time. There was no individual referred case.

    While new wealth is also theoretically created, that doesn't change the fact that it is also coming from people that don't do well on the stock market, which is the vast majority numerically. It very much is just gambling for them, against the "house".

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  • [–] 1 point 1 year ago (1 child)

    The initial comment was on how the stock market transfers wealth from poor people to rich people over time.

    Yes. And it doesn't.

    If there was no stock market, poor people wouldn't be any less poor. There was literally a lot more poverty before stock markets existed.

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  • [–] 0 points 1 year ago*

    I don't know if you have to think that way because you want to feel better about something you do or if you have been taught it by someone... You are looking at something 2-dimensionally and assuming you have the full idea of it. By constraining yourself to only the simple concept of it and not what it all touches on, you are deluding yourself to the full effect it has.

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