"If you're making $300k a year, you have more in common with someone making minimum wage than you do with Elon [Musk, the founder of Tesla and other corporations]. There are people that walk among us that have so much wealth, that even generations of mismanagement can't squander it. These folks you speak of are not those folks."

  • TreadOnMe [none/use name]
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    2 years ago

    And even on that note, most of the true movers of the markets are not those former or current workers. You can have 10 million in the stock market and still be completely subjected to the whims of capitalists. You're going to be better off and mostly secure, but your ability to manipulate the stock market is basically non-existent. That being said, if they are using that money to manipulate their local or forgien markets, then they are into petite-boug territory. But passive income is a better marker.

    I always situate the conversation around control of the market, rather than anything else.

    • kristina [she/her]
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      2 years ago

      id say having 10 million in the stock market, S&P is usually at around 5-10.5% returns. that means youre accruing a million, more or less, each year. sure, its petit booj, but lets not kid ourselves by calling them a worker

      • TreadOnMe [none/use name]
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        2 years ago

        There are plenty of guys who started their careers engineering in the 80's for whom this is the case, due to the enourmous inflation of the markets. They are still workers whose labor value has likely been extracted. Likely not close to the rate of the factory workers who actually executed their designs, but saying they are in the same class as even C-suite people, let alone owners is absurd. Are they likely to side with workers when the revolution comes? Not really. But are they workers whose primary generated income was the exchange of labor? Yes. They are some other class, idk what to call them though I guess the moniker is PMC, though I'd hesitate to call most engineers managers.

        Interestingly enough, it's these kinds of people who are mostly in charge of running China atm.

        Edit: So are they our enemy? Yes, but not really. They are easily paid off if you actually are able to sieze the means of production, and they are unlikely to fight you, but they will probably be passive aggressive dicks about the whole thing.