"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."
Eventually all PMC become rentseekers though otherwise they can never retire.
This is provably false? Most people's retirement is held in stonks, if you're making 300k/yr you could probably retire with just cash
Stocks are rent-seeking. All passive income is rent-seeking. Any creation of value that doesn't produce anything is rent-seeking. Is everyone that owns stock evil because that value, at some point, was extracted from someone not being paid the full value of their labor? Probably not. Modern capitalism has been quite brilliant in this regard. It's basically said that instead of even attempting to reconcile any of its contradictions, it's going to keep creating more and more, which will require a larger and larger bureaucracy to defuse. Add in constant boom/bust cycles and you've got this self-perpetuating monster called global capitalism.
Depends when you go to collect. If you are retiring in 2008 or 2022 then no. I live in a retirement community and I guarantee you most of these people have investment properties. In the US most people's retirement is absolutely fucking nothing with some social security crumbs. The rest are a mix of investors. Some are stocks only but many are diversified. Also real estate companies, management companies, and banks make great stocks.