Earning it the hard way

Yesterday two men made over $1 Billion. No they didn’t win the lottery. No it isn’t a typo. They earned it. Actually they made well over $1 Billion in one day through investments (over $1.5 B for one of them). For them, it was just an ordinary day. They have made more in one day and taken larger 1-day losses as well. They are accustomed to such figures. These men are the #3 and #19 richest men on the planet from Spain and India respectively.  Perhaps their countries make it all the more stark, perhaps not.

He’s worrying, hoping we won’t do the math.

Work is an interesting concept. In our society if somebody is on welfare and stayed home raising the kids we could not accept anything they do as work, but if they took a dollar and somehow leveraged it into 75 billion, we say they earned it. The concept of work is therefore inextricably tied to money and like it or not that denomination is how we set our values regarding work.

For perspective sake however let us consider that if that money were moved into a bank at simple interest the owner would have to spend tens of millions of dollars every day just to keep it from growing larger by that simple ordinary interest. Their work would then become spending money fast enough to keep from siphoning it out of the economies of the world (lest they cause deflation). It’s amazing really.

Now let us compare that daily increase to the average pay. If we were to pay a ditch digger $100 a day (a high average for such work) and he could move 10 tons of earth in a day (a lot by anyone’s standard), our billionaire would have done a work equivalent of moving 156,870,000 tons of earth. The world’s largest open pit mine using the largest heavy machinery ever invented employs 1,800 people plus contractors and moves only 450,000 tons a day. Still as you know, he earned it, didn’t he? I’m starting to wonder.

Can you dig it?

Did you know that the nations top 400 rich own more of this worlds wealth than the bottom HALF of all americans put together? Now visualize 400 people and half this nations populace (150,000,000) and imagine what could conceivably endow the elite 400 with the birthright of the unendowed 150,000,000?

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