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Originally posted by billeau2
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You truly are deluded. I mean no disrespect what-so-ever but this statement you made and the logic you applied shows a total lack of insight into the point Hectari is making and about how wealth is accumulated.
First off putting aside hectari's rant about brand... which is a complex issue... for example, if you wanted to buy either all the restaurants that mcdonalds owns, or the rights to the name, lets just say all the commercial leases owned couldn't begin to approximate the value of the brand. The problem is that "brand" is an intangible, so we won't even go there.
Currency is one of the most misunderstood elements of wealth there is. At a point where someone has, ohhhh lets say over 100 million dollars, the goal is to not lose it. Really at a certain point the differences are academic because the value of currency is never going to sustain wealth, as an asset it has advantages and disadvantages, none of which make having a great amount of it, the true measure of wealth. You will see why this is if you trace what they take from currency and how fast your life style matches your currency.
As a billionaire you better give a lot of your money away or taxes will take it! Thats a start. Now, what does make wealth? the assets you actually own and control! George does in fact own an asset that has great value. Floyd owns cars and luxury real estate...none of which has much value. The world is littered with the nouvelle riche who are buying thins like expensive watches, mansions and expensive cars... These do not have much value and eat up money.
Mansions are property tax vacuum cleaners. Expensive cars need storage and lose most of their value when bought... just to give an idea. Currency loses and gains value daily and is taxed considerably when it is used. Even interest that is gained is taxed.
So what great companies does Floyd own, or have an interest in? What cash generating name had his promotional company generated? What rent does he collect in his real estate? and what happens when he gambles and loses? because when he wins he pays a lot to his pardner uncle sam! Finally, how much does Floyd's lifestyle cost? A man who works in Omaha nebraska and lives in a middle class neighborhood and makes 300k a year has a lot of disposable income, a man wrote an article for the new York times about making this same 300k in Silicon Valley and he could not even get by!
I think hectari is correct here.
First off putting aside hectari's rant about brand... which is a complex issue... for example, if you wanted to buy either all the restaurants that mcdonalds owns, or the rights to the name, lets just say all the commercial leases owned couldn't begin to approximate the value of the brand. The problem is that "brand" is an intangible, so we won't even go there.
Currency is one of the most misunderstood elements of wealth there is. At a point where someone has, ohhhh lets say over 100 million dollars, the goal is to not lose it. Really at a certain point the differences are academic because the value of currency is never going to sustain wealth, as an asset it has advantages and disadvantages, none of which make having a great amount of it, the true measure of wealth. You will see why this is if you trace what they take from currency and how fast your life style matches your currency.
As a billionaire you better give a lot of your money away or taxes will take it! Thats a start. Now, what does make wealth? the assets you actually own and control! George does in fact own an asset that has great value. Floyd owns cars and luxury real estate...none of which has much value. The world is littered with the nouvelle riche who are buying thins like expensive watches, mansions and expensive cars... These do not have much value and eat up money.
Mansions are property tax vacuum cleaners. Expensive cars need storage and lose most of their value when bought... just to give an idea. Currency loses and gains value daily and is taxed considerably when it is used. Even interest that is gained is taxed.
So what great companies does Floyd own, or have an interest in? What cash generating name had his promotional company generated? What rent does he collect in his real estate? and what happens when he gambles and loses? because when he wins he pays a lot to his pardner uncle sam! Finally, how much does Floyd's lifestyle cost? A man who works in Omaha nebraska and lives in a middle class neighborhood and makes 300k a year has a lot of disposable income, a man wrote an article for the new York times about making this same 300k in Silicon Valley and he could not even get by!
I think hectari is correct here.
keep hating
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