What do you think of this auction?

Um... so did you go to the auction?

 

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Intentionally Facetious. It really came over me suddenly.

 

Detectonomics: Conform or prepare to argue for weeks on end.

 

But where did the money necessary to create 5 billion in value come from? It does not grow on trees.

You cannot print money without having something to back it, which is why we need to go back to the gold standard.

When the gold standard was in place, the economy grew and inflation remained at bay, and the reverse happened when it was scrapped.

In terms of pure numbers, what cost $1 in 1913 would cost $22.82 today. We have had a cumulative inflation rate of 2182 percent in nearly 100 years. The US currency was taken off the gold standard in 1933, and obviously this has not curbed inflation. Pegging our currency to a tangible source is one of many ways to protect it against inflation.


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He already had it, since he created it from scratch when he started Apple computers. He invested maybe 50 million in Pixar to make it a success.

In case you are asking, the money he got from creating Apple computers came from him designing a product that people wished to buy. He started with almost nothing and CREATED billions in value.

Point is, "money" is not fixed, its a measure of the value of all goods and services. Add value to society, and you literally create money. Get it? "Money" is different than currency btw.

Actually "grow on trees" is maybe a fit analogy for you. YES, money can grow on trees. Every year, orange growers literally create money by growing oranges. New oranges are new assets to society, and as such are new "money".

 

People like you and I gave it to him by buying movies and other merchandise. Willingly. Because we enjoyed what he did. He didn't steal. He didn't take. We the people spent. Willingly.

And he earned that money. That we gave him for his products. What's the problem with that?

 

Yes, but all that money came from somewhere.

 

So you have supposedly graduated. So I would suggest you take a college course on Economics and Capitalism and then tell us why your plan would work. I dare you.

 

What's being lost in this discussion is the other side of the coin: liability. Nobody forces the public to purchase a widgets that the company produces, that is true. So the CEO of a company has legitimately earned his income.

But the government did forcibly preclude the public to waive its right to compensation for injuries caused by the company. The government forcibly limited the liability of the CEO, completely absolving him of any liability for wrongdoing. This is not unlike the government forcing the public to buy the company's product, just inverted.

If person A hires a driver to deliver a shipment of widgets, and the driver gets in an accident and injuries B, then B can sue A for compensation. But if A is CEO of an incorporated company, in the exact same situation, B is out of luck because A has a protection agreement with the government to limit his liability. Person A may be originally earning his money fairly, but A is using an unfair protection arrangement to keep that money in situations where A would otherwise be subject to liability.

The problem here is one of fairness. But salary caps and communistic solutions like that are not the answer. The answer is personal accountability.

 

???

 

How about you don't give money to anyone, each person earns money based on their own effort. If one person earns $4 that doesn't stop others from earning $2 (their fair share- so you say) or even $4 or $6.

If there was a limited amount of money as you think there is, the solution isn't to cap each person at $2, it is to make the lazy people work harder until they earn the same as those that put in the effort to earn more than $2.

On a side note, should we send money to other countries so they have the same as us as well? Should we be even with third world countries as well? If yes then you already have far more then your fair share, how dare you!

 

I totally get that.

 

Yeah, the people who spent it worked for it. And the companies that paid them worked for it. And the people who the company earned their money from? They worked for it, too.

That's how money is made here in the USA. Having lots of money doesn't automatically make one a thief or a cheat.

 

Sigh. I'm done arguing.

On a lighter note, yes I did go to the auction, and came home with a bunch of nickels and some world coins.

 

Did you overpay, get them for a resonable price, or get them below value?

 

It does if it has been made and kept unfairly. If somebody is going to avail themselves of government-enforced limited liability to protect their money, what right have they to complain when that same government taxes that money?

 

Well I did overpay somewhat. I went $14 on 90 buffalo nickels, I should of looked them over, as many were dateless. However I did find a 1914 in there!

I love wheat cents, but some crazy old lady went ridiculously high on them. I usually pay between 2-4 cents each. She went as high as 8 cents each in some circumstances.

All the half dollars sold for $15 each. I did not see any I wanted, and I would of had to of paid $17.50. I don't mind overpaying slightly, but that was over twice melt.

 

Hey! I won the lottery of $640 Million!!!! But that busts my cap of $250,000. I can't keep the rest. I am forced to give it to somebody else. Detectonomics.

 

What on earth are you going to do with that kind of money?

 

And if you're talking about 40% halves, You are wrong again.