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Rich people have lower savings rates than the middle class. You think billionaires just buy treasuries or CDs and wait for their wealth to evaporate through in
by aianus 10y ago
Rich people have lower savings rates than the middle class.
You think billionaires just buy treasuries or CDs and wait for their wealth to evaporate through inflation? That money is invested, including into the VC funds that make the SV startup lifestyle possible.
- barrkel 10y agoInvestments are savings; just riskier. (Did you think that your savings account at the bank is just held as treasuries? The bank invests it.)
- soVeryTired 10y ago>Did you think that your savings account at the bank is just held as treasuries? The bank invests it. It's actually a bit more complicated than that: http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf http://www.bankofengland.co.uk/publications/Documents/quarte...
- BrainInAJar 10y ago> make the SV startup lifestyle possible. You say that as though it's a good thing
- aianus 10y agoWell they quite literally 'created' my job and many others' so I'm pretty happy with it.
- MagnumOpus 10y agoThe parent is not talking about "savings" in the sense of savings accounts, but in terms of the macroeconomic sense of the word where savings denotes anything you do with money that is not immediate consumption (and therefore savings=investments).