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"Virtually every legal way I know of making money helps society." Gambling does not help society, and it is legal: Buy a house for x, sell it to a fool that w
by forgottenpaswrd 14y ago
"Virtually every legal way I know of making money helps society."
Gambling does not help society, and it is legal:
Buy a house for x, sell it to a fool that will pay 4x, who will sell it to a bigger fool for 6x. Now houses go back to x. The only problem is that the bigger fool is the normal American or European middle class that in not an expert on economics and it has been fooled will all their savings from experts with their own money(investment banks takes the money from banks because they are the same since it become legal).
You can say: "I can choose not to buy a house". But then bailouts happen and you pay for it.
Invest on a company, lets call it "makebook", x money lended from pension funds, "makebook" gives (1/10000)x profits a year, sell private stocks to bigger fools for 10x("internet""cloud","social" or any other magical word companies, are the future...), and let those sell again to bigger fools for 100x. Now the company make an IPO for $100B is never going to recoup, but middle class get crushed again.
http://www.google.com/finance?client=ob&q=NASDAQ:GRPN http://www.google.com/finance?client=ob&q=NASDAQ:GRPN
Also money printing makes a lot of money, it is the main way to "make" money in the world.
I mean I agree with you in what it should be, but a big part of the world does not work that way.