Blue Maverick
Well-Known Member
- Joined
- 6 Aug 2010
- Messages
- 26,716
I heard an interesting podcast on billionaires and then not giving up money due to influence, if you only have a billion you are in a certain circle the more you have the higher up you go the more influence you have. They won’t give it away as that reduces their power and influence it will have to be taken away from them. Now they will say well what’s the point if me carrying on if you take it off me, but if they want to stop there will always be someone else striving for that first billion in their place.To your point 'even' someone worth say £250 million with a comical unrealistically conservative investment approach would still need to get through about £300k a week in expenditure just to dispose of their interest. When we get onto billionaires it's another game altogether.
Its interesting what the extremely wealthy spend their money on, as they can only spend the tiniest fraction on material comfort, so they spend it accumulating more wealth and they will splurge on initiatives to gain power and influence to allow them to do so unfettered and/or in some cases to extend their direct sphere of control. It's a pretty destructive feedback loop in terms of democracy.
We're at the point where in 2024 billionaire wealth increased by $2 trillion in 12 months. To put that in context that number is bigger than over 80% of the national GDPs across the planet. This is not sustainable if we want to live in anything that look even remotely like democracies.
The only way that changes is if enough people make it clear to governments that not only do they demand they do something about it but also that they will have their backs if they choose to try do something. Unless and until the private armies of the wealthy are more powerful than nation state ones this is a fixable problem. That said the other dangerous model is capture by private individuals of state infrastructure a la Palantir. Again though I think it's probably fixable.
There's still a window to address this but it's closing and if it does it won't be the politicians fault, it'll be ours. We get the politicians we deserve.
We are already seeing how it affects us just going to watch a game, it’s becoming a rich person sport, fa cup final are scandalous prices but compared to say the superbowl they are nothing but that’s where they want to be.


