I can agree to that. The problem doing it today would be how to extract cash from the wealth of today’s billionaires. We could take out Elon and get morning on return because all his wealth is just ownership of companies that are all hype and no real profits. Someone like bezos would work because he does have a ton of assets ee could sell to China, but even then we wouldn’t be able to do much with it.
The trade off would be the loss of millions of retirement accounts when the stocks collapse, and the debt machine gets unwound.
krisevol@lemmus.org 1 week ago
I can agree to that. The problem doing it today would be how to extract cash from the wealth of today’s billionaires. We could take out Elon and get morning on return because all his wealth is just ownership of companies that are all hype and no real profits. Someone like bezos would work because he does have a ton of assets ee could sell to China, but even then we wouldn’t be able to do much with it.
The trade off would be the loss of millions of retirement accounts when the stocks collapse, and the debt machine gets unwound.
umbrella@lemmy.ml 1 week ago
ownership of the means of production is more important than cash.
we already have food and housing for every person.