Thursday, July 7, 2011

Two groups of rich people

One can often find in this blog, some criticism towards the rich people. I would like to clarify my stance of wealth. There are two main groups of rich people, one group prosper by creating value for the society. The second group is a parasite feeding on the host economy.

Type 1, the value creator
These people are entrepreneurs and value creators. Their business create value for the people. This group of rich man create jobs, adding to technology know how, or provide service to increase the material well-being of the society.

Bill Gate of Microsoft, Larry Elison of Oracle, the founders of Google, the founder of Ryanair..etc belong to this group. In Singapore, people like Sim Wong Hoo, is here as well.

Type 2, the parasite
The bankster, crony capitalist, crony CEO, landlord, oligarch, (many mine boss as well),  belong to this group. In biology, the most sick and lowly parasite understands instinctively not to over-feed their host. Without a host, the biological parasite will simply die and hence, it feed its host in moderation.

In contrast, parasitic rich are so greedy and evil that they have none of the good sense of the biological parasite. The parasitic rich are a bunch of demons incarnate that do not hesitate to suck the last life-force out of the host.

The parasitic rich can run business that cause 100% harm and no good to the general public and yet raking up the most obscene profit that beyond the wildest dream. Goldman Sachs did nothing except shuffling papers, fraud and scam, destroying people and even enslaving countries, and their employees are the best paid in the world.

The landlord in Singapore sucks vitality from everyone in Singapore. High rents are driving small businesses to bankruptcy. High property price is condemning the average Joe paying 1/3 of their salary, 30 years, for 99 year lease. On top of our misery, landlord are among the wealthiest in Singapore.

Beside the landlord, the banks in Singapore has the most glamorous buildings and paid the highest salary. They are rich not because they are creating something, but because they conduct usury (aka fractional reserve banking) against the citizen, money laundering, and facilitate tax evasion for high net worth individual all over the world.

PAP propaganda
Very often, PAP tries their almost best to equate the rich with talent, and create stories like rag to riches. Unfortunately, if we really scrutinises our tycoon, CEOs....etc, we will realise that 90% are scumbag.

Need to distinguish between value creator and parasite
If the rich got their wealth similar to what Bill Gate did (even Bill Gate success is significantly due to family background) , we should not be envious, on the contrary, we need to motivate ourselves more to emulate their work. The government should also give more support to such people.

On the other hand, we must unite to bring down the power of parasitic rich, that is destroying our society and economy. And to do that, we must first take down PAP.


Anonymous said...

Bill Gates (not him in particular, just anyone rich) is probably? using that wealth (Type I) to earn Type II as well.


Veritas said...

Re Annon July 8, 2011 3:41 AM

Agree. More often than not, a rich is both a value adder, and at the same time, he extract economic rent as well. But in the case of Bill Gate, he has clearly done more good than evil. Try one day doing without windows?

I would probably write in other article, the need to regulate rentier activities.

While in Singapore, its the other round. Creative activities are suppress and rentier activities, dynastic wealth are being encourage.

Anonymous said...

At least Bill and Melinda Gates help to make this a better world through their charitable contributions.