Replies (77)
π―π―
Small Rural Towns and Big Cities both suffer from Income inequality
Just sayin
View quoted note βI don't see how #5 is fair, or morally sound. Isn't that just theft from those receiving the inheritance?
Solid points! We need Dr. Jeff running the show instead of our corrupt politicians
Are you a commie? CEOβs hires millions of people and a worker hire ZERO. Apples and Oranges.
Sure, doctor, more taxes is a solution! And more government to manage it. Always works! /s
This sounds like the worst plan ever. All I hear are more taxes. Am I misunderstanding?
NO ONE IS FORCING YOU TO WORK FOR ANY CEOβs. YOU ARE NOT A SLAVE! COMMIE!
I just forwarded this to the leaders of the ZOG. Hopefully they respond before its too late!
Lol
I disagree with your solutions. Looking at your graph, it really started taking off around the early to mid β70s. I wonder if something changed at that time that is the root of the problemβ¦
Bummer
You always have a choice on who to work for. YOU ARE NOT A VICTIM! Fucking Gen Z
Love the sentiment and shocking Iβm onboard with many of these? But they need much scrutiny.
That last one seems like a terrible idea that with little moral grounding and many likely problems such as providing actually very little to the masses (see how much ALL the wealth of billionaires at once would only sustain American tax needs for 6 months), while disincentivizing success, and incentivizing hate and murder of the successful.
I feel like this is a test by the good doctor β¦. Not a single one of these address a) the main issue being broken money and the money printing b) most of these options once again penalize the middle to lower class, might be short term or medium because on future currency devaluation c) the five fixes simply delay the revolution from the lower classes as the money keeps debasing β¦. D) all of these are just a bit of communism/ totalitarianism!
Fix the money, fix the world
What is interesting is that people were waking up to this in 2011 but the Ruling Elite put an end to that real quick and went on to break us up into small tribes that fight one another.
What gives you hope this time will be different?
On your first point
This is why the dollar surviving for many decades is simply not going to happen. What has caused all of this chaos in the world can not and will not survive what is coming.
Impossible.
Agreed.
However, they know perfectly well what's coming and that's why they're rolling out the digital ID and CBDC surveillance grid to try to keep the masses under control before they inevitably revolt.
Fortunately for (some of) us, we have Bitcoin and NOSTR.
These are all just pretty awful ideas with so many negative incentives. I applaud anyone at least recognizing thereβs a problem
some terrible ideas in there and some OK, politically you for sure lean left (in case you don't know)
Iβm not sure there are enough bitcoiners or nostr plebs to not be steamrolled by digital ID and CBDCβs especially when everyone is getting increasingly desperate.
Sorry mate, I don't think you can tax your way out of socialism.
Wealth inequality may be a sign of tyranny but it is also a hallmark of actual, real capitalism, unlike the interventionist crony-capitalism we see around the world.
The difference is that in free-market capitalism, although vastly poorer than the richest people in society, the least wealthy still have enough to make a living, maybe even a decent one, whereas in a tyrannical, socialist system, the poor have so very little that the very thought of continuing to live seems like a cruel joke.
You suggest centralized, violent expropriation of those that have, rightfully or unrightfully, gained wealth and transfer it to those who have less, which is exactly what the current systems are based on, in other words, more of the same.
Also, you completely leave out the role of government in all of this misery, the unlimited inflation of the money supply since 1971 which automatically nominally enriches all holders of assets while expropriating holders of cash and bank balances, as well as Cantillon effects enriching the politically connected to the detriment of those who can't employ lobbyists.
I commend your taking the time to ponder solutions but, like any good doctor, you must look much deeper than simply to counteracting symptoms and find the real, actual cause of the disease wracking society as we now it.
And just to be clear, I also have no interest in any form of wide-spread violence or "class warfare". I'm also poor myself so I have no interest in continuing the status quo.
4th turning is upon us and the fittest will survive and women will begin being faithful again (until good times turning returns).
I think his point is if you want to avoid violence, these not so ideal solutions area something to consider.
Redistribution of wealth?
How about we just have money that is not debasedβ¦..
Wouldnβt that work better then above?
Itβs approaching breaking point. One more big bout of food inflation should do it.
Have you read this one
@Dr. Jeff ?
While I agree that current inequality is out-of-control, the solution to the inequality and injustice produced by govt central planning is not to institute more central planning?
Aside from the hubris of this, think of what it would take and mean to enforce these.
Number 1 is unenforcable without a draconian left of govt overreach. Even then, how do we determine what CEO's compensation? Often it is in stock and stock options, with the dollar amount being nominally low. And then how do you determine who consitutes a worker? Does it include part-time employees doing gig work? Will companies be forced to pay the nighttime janitor 1/30th of the CEOs "compensation"?
Number 3 perversely incentivizes either graduates to earn a low income so that they qualify for the jubilee. How about just ending state involvment in the student loan business altogether and allow sudent loan holders to declare bankruptcy?
Number 5 is just turning to govt into an even bigger grave robber...
I βam neither a Republican or Democrat.β You sound like a communist wanting to give more power to those that fucked it up in the first place!
This is a surprisingly socialist take from a fellow Bitcoiner and presumably someone who has done well financially. These are the exact solutions a far leftist would/are suggesting.
As others have mentioned, fix the money supply, fix crony capitalism first. Then encourage wealthy people to address rising discontent for people less well off.
How would you encourage the wealthy to addresss rising discontent?
I donβt know if youβve ever heard Robert Kiyosaki but using him as an example, frankly he doesnβt give a shit. Being poor is a problem for poor people, not the likes of him.
I agree this is a surprising take from Dr Ross but I think his point about the level of discontent with average earners is very valid.
Fix the money how? Fix crony capitalism how?
Fix crony capitalism by reducing bureaucracy and monopoly encouraging laws, I think that will reduce the extremely large monopoly companies that create / generate extreme wealth for relatively few.
As to fixing the money, there's a little something called Bitcoin, you may have heard of it π
Some rich wont give a shit, that's human nature. But convincing successful people that rising discontent may see their heads on a pike should motivate plenty!
Also need to drastically reduce the size and authority of government, currently its too powerful and causing too much tension over who gets to lead it.
I doubt the ruling elite and billionaires youβre addressing this to are listening here on nostr β the pleb place.
Broadly agree... Just weary of slogans like 'fix the money' (even though it's obviously shit). Lots of weird stuff going on right now. Thought it was particularly classic the world's richest person recently telling folks to fight back against their governments, especially seeing as that's where he gets loads of his cash from. Maybe he's aware loads of people may want his head on a pike? Hmm...
For me, what humanity never really gets it's head around is the 1-5% of psychopaths in the population. Regardless of the system, they're prepossessed to manipulate it.
I have no answers tbh but on balance I think psychopaths are bad and would much prefer fewer of them.
Sounds communist to me. π€‘
This does NOT sound like you. Has someone hacked your account?!
These ideas and βsolutionsβ are just as unhinged as your bitcoin price predictions. What a clown you are.
His analysis of the situation and his βsolutionsβ are just as unhinged as his famous bitcoin price predictions. What a clown π€‘
View quoted note βNo. Youβre right. Heβs a commie.
Yes. We need more communism.ππ€‘
Itβs depressingly predictable
Prepare accordingly
What concerns me is when βBitcoinersβ are painted as bad, lucky, and unfair
Whilst of course the people that the system is screwing, that would be tough
Steak in uk. Sold with anti theft tag. There are signs of squeeze everywhere
That's some crazy shit!
Doomerism is something we should all stay away from. There are signs for sure but a bloody revolution is a bit much IMO.
Bitcoin fixes it...
Seriously though, the ceo to worker and overall wealth inequality is all created by the many privileges and broken schemes that fiat introduces
Make all money unit bound to proof of work and those wealth inequalities disappear
crazy
Hey maybe we should expel 40% of the billionaires and then stop importing slave class brown people that keep wages low for Americans and take their jobs? Maybe thatβs an idea too? Instead of all these other Marx influenced steps you tacked on for no reason? Maybe embrace nationalism and isolationism instead of all this dog shit?
Moreover, ending the fed and the dep of Ed and licensing would, ALONE solve 90% of these problems.
90% of Americans before WW1 worked FOR THEMSELVES, now 90% of Americans are employees. The issue is the socialist regulatory longhousing. EVERYTHING requires a license, most of those things require degrees⦠and then the immigrants compete with you FOR these permission slips.
Good example is that
@Great Ghee canβt sell liver chips because of βprocessingβ horseshit. This is the issue with safety-ism and longhousing. βWell you just need to process them in a facility that is approved and not your homeβ. Congratsβ¦ so a kid has to get into debt to start something as simple as dehydrating food? I guess theyβll compete with the Mexicans for a job at Pizza Hut now to pay for it.
Starting to think any nonbtc savings gonna get stolen
Every point there is simply wrong...
Me neither!
Youβre a commie.
Shame.
Solution: Get rid of fiat money.
You can count KYC'd/Custodial BTC in that tally.
#DontRiskItBisqIt
Thia is why I'm so tired of all this "BTC Treasury" bullshit. A lot of complex math that pretends the double spending problem does not exist.
If you get 150% returns every year in the stock market, there is a 99% chance it will eventually be confiscated.
Right on, I absolutely agree with this kind of position.
I too believe this kind of direction is going to be inevitable all over the world. There's going to be UBI like redistribution, the States will need become more efficient and focus on that UBI like redistribution mechanisms mostly, and the wealthy in time will more openly contribute because they see it as the win-win-win, they'll realize it's the best way to maintain and expand their position (because UBI is the win-win-win, etc).
- Money needs to flow from real estate to a UBI and Bitcoin
People here disagree with it because this is a very specific and niche group that sees things from a more ideological perspective than a purely economic perspective, which I believe
@Dr. Jeff is very good at (strong macro analysis, plenty of numbers, etc, etc).
Because if one looks at the economic numbers and historical parallels, this kind of model ends in self-destruction. The numbers simply don't fit. The numbers don't work. This system can't work like this. Forget about ideology, the current economic model simply doesn't work.
And this is incredibly bad for capitalism. Because you can't have capitalism without capital. If capital sits only at the top it's feudalism, not capitalism.
I'm actually writing/working in this direction. I think UBI is not only perfectly compatible but fundamental for a more capitalist future. A transitional model to a more voluntaryist future that everybody here loves and wants. And that I personally admire too. But the numbers simply don't allow that to happen right now. And people need to understand that...
What violency is he advocating for? He's just arguing for more open UBI like redistribution models and that the wealthy will want more of that. Which they already do. The really wealthy people don't think in ideology, they think in risk analysis.
And also one doesn't know the actual numbers is advocating for, this would target the very wealthy.
The thing is, there's a real risk that socialism comes back.
What Dr. Jeff is arguing for is a middle way, pragmatic and innovative solution to avoid precisely that.
The State already exists, the state already forces you to pay taxes, we don't need to pretend as if that wasn't the case.
Can you stop stealing them? Ffs.
I think that are many things Bitcoiners can do to get out in a good shape on the other side. For example:
- Promote Bitcoin as the store of value to real estate capital, facilitating the real estate demonetization that needs to happen globally for a better power of purchase for everyone
In other words, Bitcoiners need to be seen as the asset that helped houses become cheaper. And I think that's going to happen inevitably.
This note reeks of statism
While I disagree with some of these as a capitalist, I thought I would add some thoughts for the conversation.
I don't think the government can handle distributing any form of wealth based on historical evidence.
If we want a free society then the pay between high level executives and entrepreneurs should be closer.
CEOs are typically highly incentivized with stock options vs pure high salary. Rather that executives getting stock incentives based on performance those stocks should be dispersed amongst the employees who actually did the work to produce the profit. Not as a TAX but as an incentive to ensure the company is profitable and adding value to society.
The death tax idea initially got me fired up, but after thinking about it I think there could be great value if the wealth of founders was shared with employees based on tenure (kind of like a dividend)
Rather than letting their estate sell off the stock if it was divided amongst the people who helped build the company there would be a shared interest in seeing it succeed long term. If we want to get away from a transactional relationship between employees and their employer this could be a nice feature.
View quoted note βYeah, but no.
I hope this guy is trolling, but it doesn't seem like it.
Take him up on his plan if you want to exacerbate the fiat currency debasement problem.
If you want to fix the problem, well, you know what to do.
View quoted note βToo long didn't read. Communism's ghey. Buy Bitcoin.
Hehe
Weimar problems call for Weimar solutions.
I say this in all seriousness as a man who has conducted a forensic, documentary and testimonial inquiry into the Holocaustβ’οΈ.
I have concluded that the systematic extermination of 6 million European Jews by homicidal gas chamber did not occur.
You can ball it Holocaust denial, and I am not interested in convincing you otherwise.
However,I do wish to point out that if you are willing to entertain such government involvement as the solution to this problem that you lay out, Weimar solutions sans the Holocaustβ’οΈ are a great place to start.
Due to cheap smart phones and internet THE POOR ALL OVER THE WORLD KNOW HOW THE RICH ARE LIVING.
This is way past βlet them eat cakeβ.
Yes pretty much. While Jeff isnβt wrong about an uprising I think a lot of it has to do with nihilism. Maybe we should just give everyone under 30 10k in btc they canβt touch for 20 years. Idk complex problems and complex solutions
I hear ya. Definitely no easy way out. Just not sure that is the best option. Why not some other form of debt jubilee, instead of forfeiting property rights.
unfortunate but necessary
How about just end the Fed?
Regarding point 5. Elimination of dynastic potential would likely be demotivating.
Regarding point 4. Where do you think 2nd home owners would reinvest? What assets would be bid? What would happen to local communities and school funding with the resulting decline in property tax base?
Regarding 3. Sure, one time jubilee. But donβt you also have to stop subsidizing college in general or else you have actually made things worse?
Regarding 2. Cumulative cost of SS over next 20 years is $80 trillion. Rich people taking a pass on benefits is negligible. Rich people being taxed to the extent necessary to fund the plan, well, thatβs a big ask.
Regarding 1. The way to raise workers salaries would be to increase efficiency and decrease the number of employees. Lots of unemployment will ensue.
Hope in the future of America is fading... and many lower income Americans are growing desperate.
In light of this and many other large (and widening) discrepancies, here are Five Fixes for the Ruling Elite and Billionaire Class to strongly consider (and quickly implement):
1. C-suite executives at all public and private US companies should immediately institute policies to lower their compensation packages and/or raise their Workers' compensation packages, in order to reach a CEO-to-Worker ratio of 30-to-1, or less.
2. Though long considered "untouchable," Social Security needs to be intelligently adjusted. I know many wealthy American seniors who neither need nor even want to receive Social Security payments, and would actually be relieved if their payments went instead to their fellow Americans who are suffering financially. -- SOLUTION: Immediately phase-out Social Security payments to senior Americans in the highest income deciles and transfer these same payments to younger Americans in the lowest income deciles.
3. A progressive (income-based) student debt jubilee. -- While I believe strongly in general debt repayment obligations, many recent college graduates are straddled with large levels of debt while available jobs are vanishing. Negative income and a negative net worth cannot be survived for long, as even basic food and shelter needs become out of reach. This becomes an impossible situation to navigate... eventually leading to desperate (likely violent) actions. -- Such hopelessness and aggression are already manifest in high and rising rates of drug and alcohol usage, riots, suicide, and homicide.
4. Disincentivize ownership of multiple homes. -- Many younger Americans are simply priced out of home ownership, while many older Americans own two or more homes. This discrepancy is increasingly insufferable to younger Americans. -- SOLUTION: Americans can easily be disincentivized to own more than one home through tax policy. Doing so would cause many older Americans to try to sell their additional homes, increasing market supply, and decreasing prices to a reasonable level.
5. Increase the progressive Death Tax for the ultra-wealthy. -- Allow entrepreneurial Billionaires and (soon) Trillionaires to enjoy the fruits of their labors while they are alive, but then let the living standards of all Americans be raised upon their passing. Multi-generational family dynasties are over-rated and generally unproductive. -- SOLUTION: Directly transfer progressive Death Tax proceeds to lower income Americans. Make these transfer payments open-source, so everyone can watch the benefits of the inventive and industrious citizens accrue to all Americans.
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Finally, I believe that the coming Age of AI and Robotics will only accelerate the above-mentioned trends and accentuate the need for shrewd and well-timed solutions.
It is time for the Ruling Elite and Billionaire Class to act while they still can, or (as history shows) the Worker Class will rise up and do the dirty work for them.
