Bill Gates - Economic moron

Posted by Robbie53024 10 years, 7 months ago to Economics
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According to Gates, someone who spends money on goods/services, is not delivering as much value to society as one who is investing in their business. But if there wasn't consumption, then the investment in business would be wasted. Economic moron.


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  • Posted by MagicDog 10 years, 7 months ago
    He is and has always been a conman. It was once said by someone who would know that if you do business with Bill Gates you had better have a good lawyer. There is a motive behind every word he speaks.
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  • Posted by ggiavelli 10 years, 7 months ago in reply to this comment.
    hasn't kept up with progress? I never said anything about that. This has nothing to do with Americans low skilled in fact they are more skilled than the people who they are being replaced by. Many of these projects fail terribly once they try to use low priced scab labor.
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  • Posted by ggiavelli 10 years, 7 months ago in reply to this comment.

    I agree. All national borders should be immediately dissolved and all work should go to the lowest bidder.

    Please explain to me how though we are to operate fairly when the only nation that has dissolved its border is Amerika
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  • Posted by 10 years, 7 months ago in reply to this comment.
    No disagreement here. But, that said, if a tax is going to be levied, it would be better levied on consumption than on income. People are always able to moderate their consumption, but why would we want to moderate their production?
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  • Posted by $ blarman 10 years, 7 months ago
    Any tax is a disincentive to production. There is no two ways about it. But even worse is a tax that only applies to some and not to others because of a "bracket". Those amount to punitive taxes - a punishment.
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  • Posted by woodlema 10 years, 7 months ago in reply to this comment.
    Not libelous. Please see the context of the comment. Bill Gates indicates that the "Customers" that purchase are not near as important as those investing in his business "Stock Holders." Based on Bill's comments and his current belief system, that is a Ponzi Scheme. We know that Bill is wrong since without those customers paying for the software THAT in itself provides the revenue for his business to grow, not the "investors"

    I wish folks would look at the full context of what is written.
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  • Posted by $ jdg 10 years, 7 months ago in reply to this comment.
    Wrong, and probably libelous. A Ponzi scheme doesn't produce anything, it's just a fake investment firm. A business that produces goods or services is not a Ponzi scheme, even if its products turn out to be valueless and it goes belly-up.
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  • Posted by $ jdg 10 years, 7 months ago in reply to this comment.
    That has nothing to do with Bill Gates. It's because those people will work for less. It would be unlibertarian not to let them in. It would also hurt consumers by raising the price of software. Why should we all pay more just so some American who hasn't kept up with progress can have a job instead of a foreigner?
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  • Posted by sfdi1947 10 years, 7 months ago
    All just one more reason to end Federalism by forcing it back to its Constitutional definition.
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  • Posted by 10 years, 7 months ago in reply to this comment.
    Disagree if you'd like. What BG said is that investment is more valuable than consumption - but without consumption investment is wasteful. They are neither more nor less valuable. They need to exist for an economy to function. The fact that there are imbalances point out where there is over and under production - that is one of the functions of trade. Not to understand this fundamental aspect of economics makes BG a moron.
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  • Posted by Hiraghm 10 years, 7 months ago in reply to this comment.
    Well, I was commenting on all the looters/moochers pushing for $15.25/hour minimum wage. I consider them to be evil greedy people.
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  • Posted by CTYankee 10 years, 7 months ago
    @Robbie, I don't quite agree with your analysis of what was written in the article.

    A little Econ-101 teaches us that Investment is the driving force behind the multiplication of wealth. Also you are correct that investment into production without consumption of the product results in useless inventory, the consumer does in fact 'degrade' that which was produced, but they do create Demand.

    The whole issue of Charity, as in the transfer of Wealth without expectation of Return, can at best be lateral, and at worst be destructive to GDP if the proceeds are spent poorly.

    You can disagree with Gates on many issues, you can say he's wrong, foolish, brainwashed even, but he's no moron. ;^)
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  • Posted by Herb7734 10 years, 7 months ago
    I'd like to think that Billy G. and his ilk, were Hank Rearden types. That they understood how economics worked and where they belonged in the world of commerce. It turns out that their success had more to do more with the fickle finger of fate rather than anything else. Idols often have feet of clay, but the Gates of this world don't need feet of clay since they never reached idol status.
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  • Posted by 10 years, 7 months ago in reply to this comment.
    Has nothing to do with creating wealth. It is merely a more appropriate mechanism for collecting taxes.

    You keep trying to confuse the issue.
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  • Posted by dbhalling 10 years, 7 months ago
    Spending does not create wealth Robbie that is a Keynesian lie. Try that on a deserted island. Tell yourself that you need to consume corn first before you grow it and see how long it is until you starve to death.
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  • Posted by ggiavelli 10 years, 7 months ago
    I just spent 20 hours diagnosing windows thrashing problems due to explorer.exe. No it wasn't a virus, it was the operating system itself leaking memory.
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  • Posted by ggiavelli 10 years, 7 months ago
    Because of gates we now import over 700,000 indians with fake degrees every year into america to decimate our citizen software workers
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  • Posted by woodlema 10 years, 7 months ago
    Apparently Bill Gates to me, is saying: "I have a product that has no value, and have no idea why anybody buys it. Just invest in my business and I will give you a return on investment." That by definition is a PONZI scheme.

    Bill Gates has become so out of touch he does not even remember how he became so wealthy
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  • Posted by $ Thoritsu 10 years, 7 months ago in reply to this comment.
    AMT is a pretty good measure for the consequences of success. It was supposed to distinguish this, but has fallen on a lot lower shoulders now.

    Another example of well-meaning programs, running amok, and now they generate too much tax revenue to kill. Flat rate, would be a lot better.
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  • Posted by Walt 10 years, 7 months ago in reply to this comment.
    Perhaps, Bill Gates Bill Gate's mansion that overlooks Lake Washington in Medina, Washington, United States of America is the dividing line. The 66,000-square-foot (6,100 m2) mansion is noted for its design and the technology it incorporates. It is nicknamed Xanadu 2.0 after the title character's estate in Citizen Kane. It took seven years to build and cost $63.2 million.
    In 2009, property taxes were reported to be US $1.063 million on a total assessed value of US$147.5 million.
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