RE: Should poor people have kids?
November 29, 2019 at 10:16 am
(This post was last modified: November 29, 2019 at 10:28 am by notimportant1234.)
(November 29, 2019 at 10:03 am)Dmitry1983 Wrote:(November 29, 2019 at 9:33 am)notimportant1234 Wrote: 1) wealth inequality is not a cause, is a consequence of a course of action chosen.Why is nobody changing course?
Quote:2) your original statement was that people couldn't manage billions, you didn't imply that this billions were from debt.There is no functional difference between your own capital and borrowed capital if interest rate is zero.
Ask yourself a question. If you would artificially inflict wealth inequality in an economy will that generate added value?
There is a very big difference between debt and personal wealth. The first one being that in the case of debt you have to give the money back regardless of your succes.
The second is that the value from debt doesn't exist yet, there is nothing to back debt. Basically debt is money/wealth shifted from one person to another person i.e if you have 10 thousand dollars in the bank probably they have been given to another person already. So debt is future value that will be gained through the investment of it. Again, this value does not exist in the present moment,this is why banks evaluate the risk of your debt.