$70, 000 / minute
$4 Million / hour
$100 Million / day
That’s how fast The fortunes of the world’s richest family is growing. according to a recent Bloomberg report
Both sociologically and mathematically, this is doubtful
$100 Million / day would give us how much in a year?
No, no, no !!
That report does not seem to make a lot of logical sense, given that the resources in the world are finite.
If the resources of the richest keep growing, then eventually they will be the ones who will OWN l EVERYTHING in the world..
Obviously, that can’t happen!
Or , can it?
Someone else responded,
But new and fresh resources are being discovered daily… No one saw a digital economy in the late 20th century… Many new mineral resources being mined and used today were practically unknown years ago…
You should rephrase that the ‘known’ resources of the world are finite…
For me, the fact a resource hasn’t been discovered doesn’t mean it doesn’t exist, and this doesn’t affect the finiteness of resources on Earth.
The resources in the world are finite. Whether discovered or yet undiscovered doesn’t alter this fact. And if the rich supposedly keeps getting richer at that rate, the poor would eventually have NOTHING to their names. A matter of WHEN, not IF……
I say so because, matter (resources) can neither be created nor destroyed… an immutable law of physics…. Resources, like energy, are only recycled ..
Another person tries to shed light by saying,
You need to get the point, more money is being created from thin air. Then given as loans to unsuspecting masses. When the masses default, their properties is taken.
Now that property is now the real thing.
Of course it is clear that the rich get even richer at the expense of the poor. I however submitted as follows,
Money is only useful to the extent of what it can procure. Take tonnes of pound sterlings to the moon, and tell me how useful it is.
So, there is nothing like “money being created”. Money procures resources. But resources are finite . This means what money can buy is finite
This guy doesn’t believe that matter (or resources ) is indestructible, or that global resources are finite.
Software can be created, and destroyed, over and over again… New developers are being born even as old ones fade away and go to wherever developers go when they fade away…
So, there you have at least one resource that can be created and is infinite…
Apparently, this commenter is not looking at the sum totalml of global resources.
My final submission to him was,
What you have termed “destruction” isn’t destruction. When a seed germinates, what you just specified happens. But every ‘destruction’ is a progenitor to a new germination.
Matter cannot be destroyed because any supposed destruction creates another
And yes, the resources on earth are both finite and indestructible
I don’t believe that the wealthiest people are getting rich at the rate specified. however you they currently are getting rich ISO exponentially it is something that is unsustainable.
It is said that nature abhors a vacuum and the rich inexorably siphoning all the resources will ineluctably create a vacuum that nature will naturally correct by herself.