Summary

The article critiques the current economic system that disproportionately rewards the wealthy while neglecting the needs of the less affluent, suggesting a more equitable distribution of resources.

Abstract

The piece, titled "The Beggar Billionaire," questions the fairness of an economy that favors the wealthy, often at the expense of the working class. It highlights the irony of public school students forgoing free lunches to avoid the stigma of poverty, while the rich exploit tax loopholes and corporate bailouts to further enrich themselves. The article argues that the collective disregard for rules and the pursuit of materialism have led to a distorted financial landscape where the mega-rich benefit from a system that prints money with no tangible backing. It points out the absurdity of bailing out large corporations while small businesses struggle, and it challenges the notion that greed is beneficial. The author calls for a reevaluation of wealth distribution, advocating for a level playing field where the most fortunate play by the same rules as the less fortunate.

Opinions

The author believes that capitalism should be adjusted to include sliding scale payments, allowing those with less to pay less, while the wealthy pay their fair share.
There is a critique of the shift in societal values from following rules to embracing greed, particularly since the 1980s.
The article suggests that financial institutions and large have mirrored society's embrace of greed, leading to unethical practices and a disregard for the working class.
It is implied that the Federal Reserve's infinite money printing to support "too big to fail" entities is unsustainable and unfair to small businesses and individuals.
The author expresses that the current economic practices, which favor the wealthy, are leading society towards a collapse similar to that of Rome.
There is a call for society to reject the idea that greed is good and to consider more socialistic approaches, such as supporting small businesses and family caregivers.
The piece advocates for a more balanced use of "funny money" printing, suggesting it should benefit a broader segment of the population rather than just the wealthy elite.

The Beggar Billionaire

What happens when an economy rewards those who need it least?

Common sense

Many public schools offer a free lunch to students who financially qualify but many students don’t want to be labeled as being poor so they go without.

In theory, it makes sense to charge people according to what they can afford but it gets thorny when it relies on people’s honesty.

Imagine your friendly barista charging you what you can afford for a cup of coffee, not the highest profit they can squeeze out of each cup.

Capitalism doesn’t lend itself well to sliding scale payments but we all tend to agree people with a lot of money should at least pay the retail price of goods and services and working-class folks should catch a break whenever practicable.

It’s not your birthday or Christmas….you get nothing

Before being greedy became fashionable around the 1980s, being smart meant following the rules whether you were rich or poor.

Once we collectively decided rules were meant to be broken — or at least finessed in our favor — it was just a matter of time before financial institutions and large corporations began taking their cue from popular culture and pursuing materialism with the vigor and tenacity of a warrior.

Tax laws….hahaha…that’s for the little people.

Bribing everyone from board members, to politicians, to regulators, to auditors, so they look the other way or cut corners on your behalf….you’re a great American!

Using corporate or banking bailout money to buy back their own stock, thus literally enriching themselves directly on the backs of the working-class taxpayers…it’s good to be the King.

It’s as if your grandmother can’t remember your birthday, so you suggest she send you money every single day — knowing at some point you’ll deserve it. But also knowing you're squeezing her out of her social security money.

Many think things aren’t adding up

Economics is not empirical science.

A pandemic arrives….the stock market shoots up.

We literally shut the country down….big banks and corporations profit more than they ever have.

Shipping lanes are clogged whereas vital products and merchandise can’t get through….not to worry…inflation is only transitory — until it isn’t.

Home, car, and energy costs have soared so high, most working Americans cannot afford them….yet, those too big to fail banks and corporations have no problem swallowing up vast amounts of real estate and private homes, then renting them out at astronomical costs to those slightly less rich than they are.

People seem to be fighting over cultural-social-religious issues like guns, abortion, and sexuality while Rome is burning.

The problem is, the mega-rich and powerful, don’t live in Rome — they’ve escaped on rocket ships to Mars while we peons fight over the silly principles and morals of yesteryear like fair play, paying your dues, and being rewarded for honest, hard work.

There is no such thing as a “world economy”

Money no longer has any underlying value like gold.

Money is invisible. It exists because one man, Jerome Powell, owns a money-printing machine and prints money out of thin air for his buddies when he feels like it.

There is no location where trillions of dollars are stacked up in storage units — money is moved electronically from one computer to another and disbursed digitally.

Take a second to absorb that our Federal Reserve has no end game in sight for pumping up ‘too big’ zombie banks and corporations. Therefore the amount of money it must print to keep these expensive zombies alive is infinite and eternal.

When a small business owner can’t meet payroll, he’s SOOL (out of luck, preceded by an expletive). They close their doors and the employees seek work elsewhere.

The handful of “indispensable” banks and corporations have the Fed by his microscopic balls…in for a dime, in for a dollar — forever.

How about “Too small to fail?”

Why is it so blasphemous to capitalism to suggest we occasionally point our money-printing machines in the direction of those who actually need it?

Have we become so warped and distorted we cheer men, with enough money to feed the world when they piss away billions on rocketship vanity projects to nowhere.

Is it too frickin socialistic to bail out the small businessfolks every now and then — you know, “bailout” the local landscaper, who prints uniforms for the local T-ball teams, when his tractor breaks down or is stolen?

Is it too communistic to offer a family member the $6000 a month states are forking out to nursing homes if they’re willing to care for their ailing loved ones at home?

Summary

If we keep giving more wealth, privilege, and power to those who need it least, we will fall as Rome did.

There is not enough bread and circus to go around — a smartphone in every pot?

Politicians typically try and reflect society's cultural norms and are largely reflecting a perverse sense that greed is good.

For those in the cheap seats…..GREED IS NOT GOOD.

That doesn’t mean capitalism is evil or unsustainable.

I am not even remotely suggesting any kind of forced wealth redistribution.

I am suggesting we insist those most fortunate play by the same rules as those less fortunate — a level playing field.

If we’re going to finance our country on the magical wonder of money printing (which is a debate unto itself) let’s point it in more than one direction.

If showering us with funny money is the answer, open that money spigot as wide as it goes and give it to all of us.

Otherwise, the 1% are just passing the same silver spoon around to each other.

And if you think running out of toilet paper is a problem….watch what happens when we run out of silver spoons.