4 ms·

The system is so heavily manipulated. I don't trust statistics anymore. I remember reading a statistic that only 35% of wealth is inherited... The way I read t

The system is so heavily manipulated. I don't trust statistics anymore. I remember reading a statistic that only 35% of wealth is inherited... The way I read this now is that 35% of wealth is inherited via a will after a parent's death and 64.9% is inherited via some kind of money laundering or power laundering financial scheme while the parents are alive... Leaving only 0.1% to real, self-made individuals.

username90 6y ago
Making up imaginary facts to deal with data you don't like makes you a conspiracy theorist.
- cryptica 6y ago
  I don't have the statistics and I made it pretty clear that I'm guessing the numbers but I can see what kind of people are getting rich. They all have social connections to rich people, mostly family ties. This is so obvious. I don't need statistics to tell me that the sun rises every morning. Unfortunately, there is no incentive for anyone with money to fund studies to show how crony-capitalism doesn't work. On the other hand, many people with money are interested to fund studies which show how it does work. So you only see the good parts and even there, the choice of words often distorts the true meaning of the statistics. Statistics are worthless. My wife has a masters degree in marketing and was working in market research for over a decade before she quit (she worked for several acclaimed agencies and did a lot of work for big corporations and governments). She is the one who told me that statistics are worthless (which is why she ended up quitting). The job of the market research agency is to figure out what the client wants to hear and then they work backwards to make the numbers fit... Then they make creative use of wording, categories and correlations to mislead clients into drawing incorrect but financially beneficial conclusions.

4 ms·

The system is so heavily manipulated. I don't trust statistics anymore. I remember reading a statistic that only 35% of wealth is inherited... The way I read t

by cryptica 6y ago

username90 6y ago
Making up imaginary facts to deal with data you don't like makes you a conspiracy theorist.
- cryptica 6y ago
  I don't have the statistics and I made it pretty clear that I'm guessing the numbers but I can see what kind of people are getting rich. They all have social connections to rich people, mostly family ties. This is so obvious. I don't need statistics to tell me that the sun rises every morning. Unfortunately, there is no incentive for anyone with money to fund studies to show how crony-capitalism doesn't work. On the other hand, many people with money are interested to fund studies which show how it does work. So you only see the good parts and even there, the choice of words often distorts the true meaning of the statistics. Statistics are worthless. My wife has a masters degree in marketing and was working in market research for over a decade before she quit (she worked for several acclaimed agencies and did a lot of work for big corporations and governments). She is the one who told me that statistics are worthless (which is why she ended up quitting). The job of the market research agency is to figure out what the client wants to hear and then they work backwards to make the numbers fit... Then they make creative use of wording, categories and correlations to mislead clients into drawing incorrect but financially beneficial conclusions.