1 million seconds is 11.5 days.
1 billion seconds is 31.7 years.
1 trillion seconds is 31,688 years.
This is an affront to decency, morality, ethics, and humanity. It cannot be allowed.
We need wealth caps
Nobody should be able to be worth even more than ten million, let alone a trillion
19 million and anything over that goes to taxes
Kneecapped at a minimum truly.
Congrats to all the cunts investing in a Nazi. Pieces of shit.
If you have a retirement account or an index fund you are one of those cunts
I’m too poor to have any kind of financial stability! Fuck me, right?
Not yet, the S&P backed off their fast-track and it won’t be able to go into their index funds for 90 days. But Tesla is already in there, so 🤷
You can direct your provider to invest however you personally feel comfortable. But it’s incredibly boring for most people to have to administer this and the whole point of a pension fund is you don’t have to worry about it. Otherwise I might as well play the stock market myself.
A lot of pension managers now are starting to become increasingly wary of AI and “fledgling startups” that have been going for 20 years and have still yet to generate a profit
Its been a total pain with in any 401k I have had. Just point to index funds. Borrow against to take it out temporally or invest more.
Not me; I contacted my pension fund last week to move it entirely out of equities and into bonds & cash.
Which is no guarantee, but… I’m not close enough to retirement that this would normally be sensible, but I know I’m close enough that I’d never earn back the losses from the mother of all crashes that is riding into view on the back of these IPOs (and the “I can’t believe it’s not a crime!” changes to index rules to fast track this nonsense into trackers, guaranteeing that pension funds and the like will be left holding the bag.)
Personally I would advise keeping money out of AI just generally anyway, not on any moral principle but simply because everyone knows it’s a bubble. No one wants to be left holding the bag and you could end up with a less money than you had to begin with. Over long enough time periods risky strategies like that aren’t worth it.
So you might as well get out of AI in the long run it will probably save you money.
It fucking bullshit. They can say worth quillion dollars doesn’t make it fact.
That doesn’t stop him from borrowing real money from real banks using this supposedly imaginary stock value as collateral. I’m sure he’s more than happy for people to call it fake news while he buys yachts and islands and surrogate mothers with that money.
Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.
Corporations are the only ‘persons’ which should be subjected to capital punishment, but trillionaires should be forced to transition into billionaires, and billionaires should be euthanised through taxation.
Who even gives a shit at this point. It’s almost laughable. The stock market creates money from thin air without any sensible valuations anymore. Could be a decidillionaire at this point and nothing would change.
Governments should really find a way to tax unrealised gains. Then this fiesta would end quickly.
Governments should really find a way to tax unrealised gains. Then this fiesta would end quickly.
They already do for a lot of middle class people. They’re called property taxes and they’re reassessed regularly (usually up) based on change in market value and not realized gains. We need something like that for billionaires.
But you know, conservatives think taxing rich people is unpatriotic and stuff :>
Well the arguement they always put forward is something about trickle-down economics. Essentially the rich people will spend their money which will benefit the local economy.
Accept of course it doesn’t work because rich people don’t spend money in the local economy they spend it in Monaco. Who’s economy I don’t care about.
My man, my stock market portfolio could go up when Trump tweets about a deal, get hit by a huge tax, then I won’t have the money to pay the tax when it turns out there’s no deal
Taxes can be variable depending on income, net worth, number of children, nipple circumference, or any other measure we decide to use. Don’t talk about them like you’re in the same category as Elon Musk because there are very few categories in which that is true.
Just make it illegal to use unrealized stocks as collateral for loans and credit.
Or just make you pay capital gains tax on the collateral and step up the cost basis to the date of the loan
But they never just pass a tax that only affects the wealthy. I ended up paying AMT one year because I had capital gains. I think that’s ridiculous because it was meant to affect only rich people and I had a one time windfall
Whatever interval for reevaluation is chosen, it’s not going to be daily.
Even once a year you can lose all your money between Dec 31st and April 15th
I mean, that’s only like $60,000 an hour since the beginning of the roman republic.
You know how you can put something on eBay for any amount of money? Of course it won’t sell if it’s priced too high, but the price can be set however.
Then people with random items go on eBay. They see their item priced at some exorbitant level and make the jump: “this thing is worth so much money!” Even though it isn’t worth that. It never sold for that. Someone just picked a number.
Starting to feel like this is how valuations work.
Except they can force you through retirement funds to buy it regardless.
So are you saying no one is buying the stock at the listed price? I’m confused by this analogy.
Humanity is disgusting for us to allow this to continue to get to this point. It’s an obscene thing to have happened and is one of many stains on our history as people & will be pointed to in the future as evidence of a dark age. Imagine discovering an alien species and then learning they are capable of the same depravity and carelessness as people.
Let’s normalize calling him a theoretical trillionaire. Economics tells us that the only way to determine the price of something is to auction it. But the price is determined at the moment of actualized sell, not at what other people payed for similar objects.
At the start of trading maybe. But what about by market close?
No ideaThis asshole deserves a trillion years in jail.
In other news, the billionaire mind disease mutated today into the trillionarie mind disease.
It sucks nobody has been successful in offing him.
They have, he just has access to the medbay beds Trump used to talk about.
On today’s edition of Hoarders
That’s gross
