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@magitweeter

How do you measure wealth? How do you define a wealthy person, exactly?

@Vincarsi

@HopelessDemigod

Also keep in mind that having deposited money in the bank doesn't mean it's IN the bank. It just means the bank owes you, which is a very different thing.

We've all seen banks go under, leaving account holders short a bunch of the money they were owed.

Not to mention, you can get a loan against the money in the bank, even if it's just informal.

@mullaney

@HopelessDemigod but those 31% of millionaires, are they too not considering real estate, etc?

@compost@regenerate.social well it's not really possible given the way Fediverse works.

Each instance can set its own rules, including allowing all the bots and fake accounts it wants.

Without a centralized authority all that stuff is allowed.

@BeAware@social.beaware.live unfortunately, that's just how ActivityPub was designed.

It centralized around instances instead of users, unlike some other platforms, and we're kind of stuck with that decision.

@crittero I really don't like giving instances even more centrality on this platform.

I already disagree with the design choice to put them above users in this design, so proposals like making them the subreddits strikes me as doubling down on a questionable philosophy.

I do think of lemmy as one big aggregator, just with AP as its database/API. The instances just feed into it.

@darnell yeah, it seems to me you're giving way too much credence to accusations from the powerful political institution.

We should always be skeptical about such accusations, particularly without seeing the evidence laid out in court.

@Sumocat @verge

@bigheadtales it's funny because if the inquiry is being blocked, then in the inquiry hasn't happened, so we don't know the results of the inquiry.

This conspiracy theory stuff is really unpersuasive.

@forteller I don't see how video streaming really fits with the fediverse service.

Fediverse is built around static content, with inboxes and outboxes moving posts around.

It doesn't seem like the right tool for the job.

@DemDifference I don't care what idiocy Trump might have gone on about.

Of course it's cherrypicked. It's literally two convenient datapoints out of a data series that shows a lot, if it was fully presented.

@magitweeter

Each is a different thing.

But it's so significant that so many talk about wealth in therms of currency, dollars and such, but so little wealth is actually held in dollars.

Take the real estate deed. The owner [probably] had to give up their money to buy that deed. The guy buying a million dollar house is a million dollars poorer after the purchase. He has literally given up a million dollars to other people who needed the money more.

We talk about wealth in these abstract terms that so often don't really match the substantial facts on the ground.

We want a rich guy to spread his money to others? Well, in old times that was a concern, but it's not really a concern now. With modern financial systems rich people are constantly transferring their cash to others since they're punished by inflation, not to mention opportunity costs, should they hoard it.

@Vincarsi

volkris boosted

@GottaLaff @yuki2501

Yes, this is the reason so many people left. One person who I respect, who started here and is now on Threads, said that the culture here is too "scoldy."

@DemDifference if you check out the charts over time from the Federal Reserve, instead of these cherrypicked stats, you'd see that job growth slowed after those actions.

And really? The world isn't chaotic now, with the US foreign policy?

@ErcanErdemArdal I think you're making some questionable assumptions about the business model and plans for X.

We aren't in their boardrooms. We really shouldn't make assumptions about their plans and goals.
@LeftistLawyer

@Vincarsi yes, and that's EXACTLY not how banks work.

When you deposit money at a bank you don't retain ownership of that money.

That's a core point here.
@magitweeter

@resuna

Again, it seems to be that you're so focused, even obsessed, with parties that you're missing how voters are impacted.

Third parties collapsing into two is only a problem if you're focused on there being third parties.

But if you focus on voters, as I do, that collapse isn't a problem but a solution as voters mitigate vote splitting and ballot wasting of the US voting system.

You seem to see it as a problem because it doesn't match your biases. But really, it's a solution, not a problem, if we consider the real people of the country.

@cinnarose @1dalm @brianklaas

@resuna

In case I haven't been clear, I don't care about third parties. In fact, that third parties collapse into two naturally is a huge sign of how misguided it is to focus on that.

Third parties don't serve voters well considering the problem of split votes and wasted ballots given the standard election method in the United States.

So again, I see you're focused on parties instead of voters, and I think that's really the wrong thing to focus on.

I want to serve voters and support the democratic process. I think that would be healthy for society. I don't really care about parties beyond the way they serve voters.

So I don't care about third parties except to point out that they can be bad for voters.

@cinnarose @1dalm @brianklaas

@magitweeter and I'm trying to point out that you are wrong about how banking works 🙂

When you have a bank deposit in a modern bank, you absolutely do not have a claim on any money. You don't own any money. Instead, the bank moves the money out of your ownership and gives it to other people.

When you deposit into a bank you give up your ownership of money.

What you receive in return is a claim against the bank itself, you receive a promise that the bank will give you other money when you request it. But you do give up your money when you deposit it in a bank.

So yes, I know that to you, hoarding means accumulating large amounts of titles to things, but what I'm trying to convey is that in modern financial systems you don't so much accumulate large amounts of titles to things.

(I'm trying to say this a few different ways to try to explain it)

So it's not so much that we are talking past each other, but that we have a disagreement over fact.

We agree that hoarding may involve keeping ownership of money. The difference is that you think these wealthy people do that, while I know that's not how banks work, and they give up that ownership when they deposit money.

@Vincarsi

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