This Venture Capitalists speech TED won't post

Nerfherder said:
Yes, I agree with that. I'd like to see what he has to say though....

Its not like these billionaires sit with their money in a vault like scrooge mcduck. Their assets are invested in companies that are going the economy.
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Yet, what are those companies doing with the money?

This argument on a theoretical level can be taken in circles ad infinitum.

Nobody on earth understands our world economy on a comprehensive and practical level to really strategise a working plan.

We will keep floundering in the dark for many years to come ... until some or other thing, maybe a revolutionary technology bails us out ... ... for a while.
 
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And how many jobs are under the direct/indirect control of the 1%?

This claim is absolutely loony. It ignores existing jobs as if they're an expected standard.

I'm also not sure what he is talking about when he refers to a feedback loop. I simply cannot correlate feedback and jobs. Anyone else able to?
 
DJ... said:
And how many jobs are under the direct/indirect control of the 1%?

This claim is absolutely loony. It ignores existing jobs as if they're an expected standard.

I'm also not sure what he is talking about when he refers to a feedback loop. I simply cannot correlate feedback and jobs. Anyone else able to?
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I think he's referring to what would happen when you have a middle class with more disposable cash. This would probably result in more purchasing, which would benefit the sellers of those goods.
 
Geriatrix said:
I think he's referring to what would happen when you have a middle class with more disposable cash. This would probably result in more purchasing, which would benefit the sellers of those goods.
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I'm still not following how this correlates to "the 1% do not create jobs" statement. Which is nonsense. If he's trying to say that a middle class with more purchasing power results in more jobs...well then whoop-dee-freaking-do...he just completed a basic economics course. If he's trying to say that lower price parity will result in better job creation, then whoop-dee-freaking-do, he just completed week 2 of the course.

I'm at a complete loss as to what he's going on about...
 
DJ... said:
I'm still not following how this correlates to "the 1% do not create jobs" statement. Which is nonsense. If he's trying to say that a middle class with more purchasing power results in more jobs...well then whoop-dee-freaking-do...he just completed a basic economics course. If he's trying to say that lower price parity will result in better job creation, then whoop-dee-freaking-do, he just completed week 2 of the course.

I'm at a complete loss as to what he's going on about...
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Well, he's going on about taxation and how it correlates to purchasing demand.
He's saying, if I understood him correctly, that the 1% should pay more tax because their cash surpluses does not result in increased spending and demand, simply because they already have whatever the hell anyone could ever want to buy. They won't go out and get 3 more LED TVs.

The middle class, however, being spared a few percentage points of taxation would. If I had an extra couple of thousand a year I'd get a better house, bigger car or new phone or whatever.
Mr Billionaire wouldn't.
He's got 15 cars and 28 houses already. He'll dump it in some shares or bonds or instrument. Which, sure, employs people(maybe even thousands) but having businesses with more cash to expand operations does not mean that they would be able to find more consumers to necessitate expansion. More tractors does not mean more buyers of grain.

Am I making sense, cause I need more coffee?
 
Lol. I'm sticking with my initial opinion of it being a chicken and egg argument. He's being needlessly sensationalist. I don't see what TED sh@t themselves about though. I do agree that tax cuts for the rich doesnt equate to job creation. I'm not sure that increased consumerism has that much of an impact on job creation anymore.
 
Lol. I'm sticking with my initial opinion of it being a chicken and egg argument. He's being needlessly sensationalist. I don't see what TED sh@t themselves about though. I do agree that tax cuts for the rich doesnt equate to job creation. I'm not sure that increased consumerism has that much of an impact on job creation anymore. I also think the increased income resulting from lower middle class taxes would probably go towards existing debt for the forseable future anyway.
 
I also think the increased income resulting from lower middle class taxes would probably go towards existing debt for the forseable future anyway.
 
Nick333 said:
I'm not sure that increased consumerism has that much of an impact on job creation anymore.
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Well not at the production level maybe but surely more shops, distribution and financing would be needed? Or what am I missing?
 
It isn't about servicing existing debt, but rather in looking at them in terms of having more spending power. You need to look at each individual as a balance sheet to get a clearer picture of why this is important...
 
Geriatrix said:
Well not at the production level maybe but surely more shops, distribution and financing would be needed? Or what am I missing?
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I'm just guessing that you would need to see substantial growth in retail spending before you saw growth in those areas. I think the existing "infrastructure" could easily absorb a, say, 20% rise in consumer spending. Is a middle class tax break of a few percent going to equal anything close to 20%?
 
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And isn't the whole concept of stimulating growth through spending kind of at odds with sound financial planning anyway. Surely people should be saving rather than spending?
 
Nick333 said:
I'm just guessing that you would need to see substantial growth in retail spending before you saw growth in those areas. I think the existing "infrastructure" could easily absorb a, say, 20% rise in consumer spending. Is a middle class tax break of a few percent going to equal anything close to 20%?
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What about a middle class tax break of 20% with an increase of the to 1%'s tax of 10%? :D

Nick333 said:
And isn't the whole concept of stimulating growth through spending kind of at odds with sound financial planning anyway. Surely people should be saving rather than spending?
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Sure. Some could certainly save those extra dollars not going to the tax men.
 
Nick333 said:
And isn't the whole concept of stimulating growth through spending kind of at odds with sound financial planning anyway. Surely people should be saving rather than spending?
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When the reserve bank wants you to spend and take on more debt, they will sure as schit drop interest rates...
 
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