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submitted 2 years ago by eee@lemm.ee to c/workreform@lemmy.world
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[-] SCB@lemmy.world 4 points 2 years ago

When you think about it, at that point at least the rich are spending their money again in order to buy another yacht, actually putting money into the economy.

People who think the rich just have vaults full of money are so fucking ridiculous.

Poor people sit on cash. Poor people hide cash in their house. Almost the entirety of any rich person's wealth is invested, because rich people generally pay smart people to handle their money.

[-] Miqo@lemmy.world 12 points 2 years ago* (last edited 2 years ago)

“We were very wealthy,” says Errol Musk. “We had so much money at times we couldn't even close our safe.”

With one person holding the money in place, another other would slam the door.

“And then there'd still be all these notes sticking out and we'd sort of pull them out and put them in our pockets.”

You are willfully ignorant.

[-] SCB@lemmy.world 6 points 2 years ago* (last edited 2 years ago)

You're an idiot if you thinks fucking safe holds any real amount of money, or that one South African semi-rich person counts as any sort of evidence.

Cash depreciates over time. No rich person keeps a ton of cash, because it means they get less rich every day.

[-] Daisyifyoudo@lemmy.world 9 points 2 years ago

Poor people live paycheck to paycheck, 1 disaster away from bankruptcy and absolute poverty. What the actual fuck are you taking about??

[-] SCB@lemmy.world 1 points 2 years ago

Yes, and a big part of that is that rather than get bank accounts, savings accounts, and any sort of money discipline, they fly blind and end up turning to terrible shit like payday loans.

See, one of us has actually worked to help change the spending habits of low-income people and the other person gets their information from memes.

[-] Daisyifyoudo@lemmy.world 6 points 2 years ago* (last edited 2 years ago)

Source- trust me bro!

That's a pretty cool story you've got going on in your head there lol. You're a fucking 🤡

[-] SCB@lemmy.world 1 points 2 years ago

Thanks for driving my point home about your memes-based-worldview.

But if you want a source, because you can't Google basic facts, then sure

https://www.gao.gov/blog/more-7-million-u.-s.-households-have-no-bank-account.-why

[-] Daisyifyoudo@lemmy.world 6 points 2 years ago* (last edited 2 years ago)

7 million out of 39 million living in poverty don't have bank accounts. Lol, that's your proof for your argument. And that's not including the working poor. Wow, I don't know what's scarier- the fact that you think this is proof that the PoOr aRe CoNdItiOned tO noT uSe bAnKs- If OnlY thEy'D oPen Savinzgs AcCoUnts, or that you think that you "got me" with that stat. Fucking 🤡

[-] SCB@lemmy.world 1 points 2 years ago

What I think is scary is that people born into immense privilege, like you, think you understand how the "working man" feels, but I console myself with the knowledge that you're not very important.

[-] Daisyifyoudo@lemmy.world 4 points 2 years ago

Lol, go console yourself you fucking retard

[-] SCB@lemmy.world 1 points 2 years ago

I guess if you push a useless mouth too far they have nothing left to do but punch down.

[-] Daisyifyoudo@lemmy.world 3 points 2 years ago

Yes. What a great victory for you. Go console yourself some more 😅

[-] SCB@lemmy.world 1 points 2 years ago
[-] Daisyifyoudo@lemmy.world 1 points 2 years ago

Lol 9d old post. Trying to get the last word. You're a joke.

[-] SCB@lemmy.world 1 points 2 years ago

I was busy, and responded when I saw the notification.

Stop being such a nerd.

[-] zbyte64 4 points 2 years ago

Underbanking is a problem, and so is underinvesting. Both are caused by profit motives because investors rather put in pay day loan services instead of grocery stores in historical redlined districts🤷

But sure, blame the habits of poor people.

[-] lingh0e@lemmy.film 9 points 2 years ago

Yeah, all those poor folks literally sleeping on cash under their mattresses because they don't have to spend it immediately on things like, you know... staying alive.

[-] SCB@lemmy.world 5 points 2 years ago

Tell me you don't actually know any poor people without telling me you don't actually know any poor people.

[-] lingh0e@lemmy.film 6 points 2 years ago

Lol. Sure sure. Apparently I've been living poor incorrectly by immediately spending my money on things like food, shelter and childcare instead of hoarding it like some kind of Scrooge McDuck wannabe.

You think poor people have money they don't need to spend, so they just keep it stashed away in a shoebox or something? How out of touch are you?

[-] SCB@lemmy.world 1 points 2 years ago

This is an endemic problem with poor people, actually, because poor people are often conditioned not to "trust" banks.

You'd know that, if you knew them.

[-] lingh0e@lemmy.film 6 points 2 years ago

You must be right. I've never lived in and among poverty. Thank you for explaining my life to me. Is there anything else I didn't actually experience?

[-] SCB@lemmy.world 1 points 2 years ago

Tact and schooling, apparently.

[-] lingh0e@lemmy.film 6 points 2 years ago

Good to know you're keeping those gates safe. Keep up the good work!

[-] SCB@lemmy.world 1 points 2 years ago

You'll eventually matter if you stay in school and work hard

[-] lingh0e@lemmy.film 4 points 2 years ago

No foolin'!? Gee, thanks mister!

[-] SCB@lemmy.world 1 points 2 years ago

Eh I was being nice. Probably not.

[-] TruTollTroll@lemmy.world 4 points 2 years ago

Yeah, cause poor people and low income people are so much more rare to encounter during a day, then a millionaire/billionaire or people in top 5%..... /S

[-] clanginator@lemmy.world 3 points 2 years ago* (last edited 2 years ago)

Almost the entirety of any rich person's wealth is invested, because rich people generally pay smart people to handle their money.

Damn, maybe poor people should just hire a full-time broker and give them the $20 they can spare this month and let that smart person invest it so they're not poor anymore 🤓

Being poor in the US is a literal trap. It is intentional. It is exploitation. The lack of financial education isn't the fault of poor people who grew up going to schools that could barely afford to run, and/or went to school hungry.

And once you're poor, it can be extremely difficult to escape, bc the system is designed to punish poor ppl. Poor ppl sit on cash bc if it's in a bank the money they need for food might get taken away bc of some bullshit overdraft fee or similar. I know bc I've been poor and know poor ppl.

Poor people aren't poor because they don't invest wisely enough. They're poor bc the system is designed in so many ways to keep it that way.

Also rICh pEoPle dOnT Sit ON tHeiR MoNey ThEY iNvEsT it

Yeah, putting billions of dollars into stocks and letting it sit there is still hoarding wealth. Call it "investing 🤓" or whatever. It's still hoarding, it's still immoral and detestable.

You sound like you're 17 and just started listening to Fox Business for financial advice.

[-] SCB@lemmy.world 1 points 2 years ago

Yeah, putting billions of dollars into stocks and letting it sit there is still hoarding wealth. Call it “investing 🤓” or whatever. It’s still hoarding, it’s still immoral and detestable.

This has no factual basis.

You seem like you think I'm attacking poor people for not having money to invest rather than making fun of people who believe the quoted statement.

[-] clanginator@lemmy.world 1 points 2 years ago* (last edited 2 years ago)

This has no factual basis.

Yes it does.

See I used as much logic in that response as u used in ur comment, so my answer is just as valid as yours. But since I used more logic in the comment you're replying to, my original point still stands. Try again, lil bro.

You seem like you think I'm attacking poor people for not having money to invest rather than making fun of people who believe the quoted statement.

I do not give a flying fuck whether you were making fun of someone or trying to get a billionaire to see ur comment so they'd let u suck their dick, bootlicker. You're wrong.

Also billionaires can literally just use their stock value as cash, genius.

Why you simp for billionaires bruh. U ain't gonna become one.

[-] SCB@lemmy.world 1 points 2 years ago

Imagine caring about the opinions of someone who calls you a "bootlicker" for simply understanding how reality works

[-] clanginator@lemmy.world 1 points 2 years ago

And again no reasoning given. Yup, certified brain rot.

[-] bdonvr@thelemmy.club 0 points 2 years ago

You're kidding right?

  1. The yachts are probably insured

  2. Just because they don't literally have millions sitting in a checking account doesn't mean they can't liquidate some of their investments and get it in short order.

[-] SCB@lemmy.world 1 points 2 years ago

actually putting money into the economy

This person veliev s rich people have millions sitting in checking. This belief is widespread, and is not just misleading, it changes the entire discussion from wealth to money.

this post was submitted on 19 Sep 2023
2372 points (100.0% liked)

Work Reform

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