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Who could have forseen the woes of capitalism? (lemmy.zip)

submitted 9 months ago by balderdash9@lemmy.zip to c/memes@lemmy.ml

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[-] Son_of_dad@lemmy.world 247 points 9 months ago

Warren Buffett is like Bill Gates. He's an evil billionaire (all billionaires are evil) who keeps pretending to be a good guy so people won't despise him.

Nobody earns a billion dollars, we've decided as a society that even global leaders, scientists and life saving doctors who do the most important work don't earn that much. It's impossible for a human to be valuable enough to earn a billion dollars. Therefore every billionaire is where he is, because he stole the wealth of the people below him who did the actual work. Every billionaire is a wage thief.

[-] Neato@ttrpg.network 90 points 9 months ago

, we’ve decided as a society that even global leaders, scientists and life saving doctors who do the most important work don’t earn that much.

The US doesn't even pay the President $1 million a year salary. Arguably the most powerful person in the world isn't even considered a millionaire status job. And yet we allow shitfuckers like Elon to scam their way into hundreds of billions. It really says that the majority of Americans are A-OK with scams and cutthroat tactics representing them.

[-] ImplyingImplications@lemmy.ca 82 points 9 months ago

We're at the point where the Pentagon needs to check with Elon Musk before making decisions because he personally controls 50% of the satellites in orbit and if he feels offended he can prevent the US, and anyone else, from using them. He can single handedly turn the tides of war. He's undoubtedly more powerful than the US president. He's unelected and has zero accountability. Why are we all ok with this??

[-] Krauerking@lemy.lol 39 points 9 months ago

Because these ~~oil~~ ~~railroad~~ tech barons have been good for the economy and therefore the growth of the United States, and no one wanted to stop one while there was still more money to be made and now it's late and gonna be an uphill battle to undo.

[-] Neato@ttrpg.network 28 points 9 months ago

The fact that the DoD hasn't seized control of Starlink as a national security asset is insane. They could even pay him a fair market price for the company and keep all the employees on. Just appoint government personnel at the highest levels to ensure it stays online.

[-] Anticorp@lemmy.world 10 points 9 months ago

That's not a good solution either. The government seizing assets from private citizens isn't cool. That's oppressive. But the government should have built that network with our tax dollars, not given our tax dollars to a private citizen to build and keep all the profits from. I'm not saying he should retain control, but I am saying he should have never been given control.

[-] davel@lemmy.ml 12 points 9 months ago* (last edited 9 months ago)

The government seizing assets from private citizens isn’t cool.

It’s very good and cool.

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[-] Anticorp@lemmy.world 16 points 9 months ago

Why are we all ok with this??

I am not okay with it. I am extra special not okay with it because Musk is a shit heel.

[-] Anticorp@lemmy.world 15 points 9 months ago

You don't need to earn a million dollars per year to be a millionaire. The president gets a salary of $400k per year and has literally all of their expenses paid for, including room, board, maid service, butlers, cars, airfare, clothing, medical care, etc. They serve for 4-8 years, and they receive compensation for life. It doesn't take long to become a millionaire in that scenario. There are no US presidents that aren't millionaires.

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[-] Anticorp@lemmy.world 45 points 9 months ago* (last edited 9 months ago)

William Jennings Bryan, who was a three-time Democratic presidential nominee and served as Secretary of State under President Woodrow Wilson, said "No man can earn a million dollars honestly". He campaigned under the idea that all of the wealthy are corrupt, and the United States needed reform. It's a sad state of affairs that the majority of our citizens won't vote for politicians that represent the interests of the working class. Almost all of our politicians support and assist the wealthy, and refuse to acknowledge the issues facing the working class, yet people keep putting them in office.

[-] cornshark@lemmy.world 29 points 9 months ago

Historical note: $1million in his time is $36.5m today

[-] Doomsider@lemmy.world 7 points 9 months ago

Wow, that really put it in perspective. How far we have let greed get the better of ourselves. Where are the guardrails to prevent this?

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[-] JasonDJ@lemmy.zip 16 points 9 months ago

lol nowadays a million dollars is like, the bare minimum you need for a comfortable retirement that doesn’t include “dying before 70” as part of the plan.

Inflations a son of a bitch.

[-] FlyingSquid@lemmy.world 9 points 9 months ago

Part of it is that people have been sold on the idea that they could be rich one day too.

[-] xthexder@l.sw0.com 17 points 9 months ago

[-] Blue_Morpho@lemmy.world 26 points 9 months ago

Every billionaire is a wage thief.

What makes Buffet exceptional is that he agrees with you. He has said our system is perverse in that it rewards him more than teachers who actually work for a living.

[-] Son_of_dad@lemmy.world 16 points 9 months ago

But he won't give the money to the people so... Still evil. He's just giving it to his kids and calling it charity

[-] keefshape@lemmy.ca 10 points 9 months ago

I have screenshotted and quoted you to a half dozen people now. Well said.

[-] AngryCommieKender@lemmy.world 7 points 9 months ago

Buffet and Gates are just playing from The Gospel of Wealth, by A. Carnegie.

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[-] NegativeLookBehind@kbin.social 7 points 9 months ago

Bill Gates: No u

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[-] NutWrench@lemmy.ml 92 points 9 months ago

This is exactly the kind of economy I would expect out of billionaires who are trying to destroy the middle class and bring back Company Towns. This is what 19th century robber-baron capitalism looks like, not the kind you were taught by Elmer Fudd.

[-] Cowbee@lemmy.ml 67 points 9 months ago

More people should read Marx. Even if you don't take everything he says, much of what he writes can be directly applied to today and can help people make sense of their current situations.

[-] dangblingus@lemmy.dbzer0.com 18 points 9 months ago* (last edited 9 months ago)

Id love to see people apply dialectical materialism to their life and society and still think "yeah but there are still good things about capitalists siphoning value out of worker's labor!"

[-] OurToothbrush@lemmy.ml 11 points 9 months ago* (last edited 9 months ago)

I mean if you dont disagree with Marx on some stuff you're not a marxist, but yeah I agree with your reply to the implications

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[-] Paradachshund@lemmy.today 35 points 9 months ago

He helped build it, he shouldn't be that surprised.

[-] DragonTypeWyvern@literature.cafe 16 points 9 months ago

He isn't surprised, he's doing PR.

Man has direct quotes saying you need to figure out how to exploit people or you will be exploited.

[-] unreasonabro@lemmy.world 31 points 9 months ago* (last edited 9 months ago)

there's certainly no reason to ever give a whit of credit (no pun intended) to anything any financier ever says. The other day there was a muppet on the radio rambling about how if the Canadian government limits interest rates to 35% as they're discussing doing, banks won't be able to make enough money to be able to loan it out. Usury is anything above 3%, just in case you didn't know. Now the entire culture is usurious; usury is the standard, ergo we don't use the word any more.

[-] JasonDJ@lemmy.zip 13 points 9 months ago

I used that word against BoA for a $35 overdraft on half a dunks coffee. It felt apt at the time but I’m pretty sure nobody knew what it meant.

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[-] LarmyOfLone@lemm.ee 28 points 9 months ago

Most of the evil in this world comes from stupidity and simplistic thinking. They believe in these simple rules that seem fair and right in some ideal scenario but don't consider the emergent effects of the laws and rules that capitalist institutions will exploit and erode. They want to believe in some kind of religion.

[-] rodneyck@lemmy.world 14 points 9 months ago

Late Stage Capitalism, Crony Capitalism, pretty much textbook.

[-] davel@lemmy.ml 25 points 9 months ago

It’s not late stage capitalism or crony capitalism or über capitalsm: it’s capitalism.

[-] agamemnonymous@sh.itjust.works 15 points 9 months ago

That's what "late stage capitalism" means though. Not some distinct subset of capitalism, just the inevitable result of capitalism + time. The later you get, the more extreme the inherent problems become. Late stage capitalism is a declaration of degree, not type.