Which a stock market crash does in the long term. They are better positioned to weather a recession then anyone else and during a recession there is ample opportunities to buy property and ownership from those that couldn’t weather it, further centralized wealth among the billionaires. In another way, think of covid, did you see many huge corporations go out of business? No, but i know a ton of small businesses that couldn’t weather the storm and went out of business, guess who gets to replace them when consumers look for their wares.
The risk they don’t seem to imagine is that their ownership and precious property rights are still conditional.
If you impoverish everyone so much that they no longer have a stake in preserving absolute property rights, it becomes a lot easier to sell “nationalise their assets” and “hang them from a petrol station canopy.”
You might be able to find a few bodyguards you can bribe to protect a compound, but you’re not going to be able to guard everything once society no longer sees value in recognizing your claims to ownership.
Even the “robber barons” of the past-- the Carnegies and Rockefellers-- at least knew that public gestures and restraint would help push that day back, but does Musk or Bezos have that level of understanfing?
Isn’t the plan to profit billionaires?
Which a stock market crash does in the long term. They are better positioned to weather a recession then anyone else and during a recession there is ample opportunities to buy property and ownership from those that couldn’t weather it, further centralized wealth among the billionaires. In another way, think of covid, did you see many huge corporations go out of business? No, but i know a ton of small businesses that couldn’t weather the storm and went out of business, guess who gets to replace them when consumers look for their wares.
The risk they don’t seem to imagine is that their ownership and precious property rights are still conditional.
If you impoverish everyone so much that they no longer have a stake in preserving absolute property rights, it becomes a lot easier to sell “nationalise their assets” and “hang them from a petrol station canopy.”
You might be able to find a few bodyguards you can bribe to protect a compound, but you’re not going to be able to guard everything once society no longer sees value in recognizing your claims to ownership.
Even the “robber barons” of the past-- the Carnegies and Rockefellers-- at least knew that public gestures and restraint would help push that day back, but does Musk or Bezos have that level of understanfing?
Unless you can get the masses to be resigned to it, like Russia or China.