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> After all, a yacht is rooted in the real economy. A good chunk of the money originally spent on the yacht went to pay workers and buy equipment Sure. And the
by jfrunyon 5y ago
> After all, a yacht is rooted in the real economy. A good chunk of the money originally spent on the yacht went to pay workers and buy equipment
Sure. And then the rest of it went to profit. Knowing the yacht is 454 ft (what's the sqft on that? four digits?), costs $590m, and yet a tricked-out 66,000 sqft megamansion-ranch-thing is worth less than a quarter of that [https://www.latimes.com/business/story/2021-05-04/bill-gates-homes-melinda-gates-net-worth-who-gets-66000-square-foot-mansion https://www.latimes.com/business/story/2021-05-04/bill-gates...], I'm gonna take a guess that there's a loooooot of profit in that yacht. Which means that it's just 1%ers passing money around amongst themselves.
(Yes, I'm comparing apples and oranges here a bit, but I really have to question how much of that is going to materials and labor...)
- bugzz 5y agoI'd say the real "problem" with spending on yachts and other luxuries is that it takes real value to make - skilled labourers and valuable materials going to something that doesn't provide that much human happiness. Not saying the ultra rich shouldn't be allowed to spend their money how they want, just that it does seem to have consequences to me.
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