[ExI] millionaires and billionaires

[BillK]

2011/9/17 Dennis May wrote:
> You meet millionaires all the time and likely don't know it.
> I can't say I've ever met a billionaire.  I think the extent of the
> rich I've ever been around is in the under 50 million range.
> Most millionaires are not cocky about their money.  Most
> people who act cocky about money are immature and
> likely wannabes in debt.
>


Agreed. Millionaires are not considered really rich these days.
Especially if you include property and pension funds and other assets
not readily available for spending. And yes, most ordinary
millionaires are just like the people next door. (Us ordinary
millionaires must stick together, after all).  ;)

I was referring to people whose annual *income* is in the billions,
never mind their total assets. These people don't even think about the
cost of something. They just do it, because price doesn't matter to
them. And these people own and run companies who also work on their
behalf. They don't even need to use their own money when a company can
hire lawyers and mercenaries to do their bidding. But to maintain this
lifestyle, they end up doing what benefits the corporation as well as
themselves, rather than looking at what the longer term future
demands. This has led to the current economic problems. Which is still
working to benefit the companies that caused the problems.
(But I suppose there must be some nice guys in there as well. All
generalisations have exceptions. Not all lawyers or parking officials
are totally evil).

But even the coal and oil corporations are slowly diversifying into
renewable resources. The problem that society has is that they are
deliberately diversifying slowly, so as to extract the maximum profit
from dwindling resources. And as the oil price increases, that means
that high price expectations mean that they can charge more for the
renewable energy replacements that they will provide.  Energy will
still be available. It will just be very expensive when coming from
the grid. (Not a problem for the super-rich, of course).

DIY energy supplies and zero footprint living is the way to go for the
general population. But it probably means a big drop in living
standards.


BillK