Is unmonitored, uncontrolled capitalism becoming excessive?

[msc545]

https://usanewsnext.com/what-does-1-trillion-actually-look-like-inside-elon-musks-historic-fortune/?

[andreasderjuengere]

Capitalism is about excess.
Monitored and controlled, or not.
Personally, I am exposed to it, but do not get involved.
The few things I have are enough to me.
There's more to life than just money.

[DryGermanGuy]

It certainly looks that way...

https://www.youtube.com/embed/1WHnz8qG0xw

[lightbulb27]

Yea, markets are really high (over done) and he's smart guy milking the ignorant... as is Trump and his brood of crooks... I mean um... uh... smart business people.

We used to put people in jail for stealing packages, cars and such... we don't do that anymore around here, police ain't got time with all the crime and risks to dealing with it. At the high end, they are stealing hand over fist.

What could possibly go wrong?

I suspect 1 trillion is possible because we printed a crap load of $ from 2008, he's now getting a bunch of it, a bunch of the idiots on this site bid up his stock and bought his crappy product [which is a unique but highly deadly death trap and world polluting transportation device].

When he's worth more than Toyota and Honda... something is very wrong. It isn't Elon... it's the system and idiots buying all this. Corruption.

Own any S&P funds, Index funds etc.. Then you own this... and you'll be happy to see your stock #'s go up if they do. That I suspect, is the game...

and that's all it is...

[SeekerOfTruth007]

What has he allegedly done wrong? All he did was start an internet banking company, which is still his primary income, and you people want to claim he's doing something wrong. Everyone uses online banking now. Eventually, we might even do away with paper currency.

[msc545]

He is a monopolist, and that, in and of itself, is wrong.

[MrChinaski]

Well he's not a monopolist in payments, AI or EVs. Yes he has monopoly power in putting stuff into low earth orbit, but that's because he has the ability to do it at a lower cost than everyone else.

The quirk is that he has convinced people to value his companies for far more than they are worth based on the discounted present value of future incomes. Tesla is a $1 1/2 trillion company with $3 or 4 billion on annual profit. Toyota is a $ 1/4 trillion company with $30 billion of profit.

The main source of his wealth is that the market is overvaluing his assets; not because of any misconduct in goods markets.

[MrChinaski]

Put another way, Toyota is trading at 9x profits, Tesla at 360x profits.

[msc545]

Yes, I'm not sure he's done anything wrong. I think the market however has allowed him to engage in activities to the extent that nobody should be allowed to. There should be limits and apparently there aren't any.

[MrChinaski]

His companies are basically bitcoin. If an asset is worth cents in the dollar then who is to say that tomorrow it shouldn't be worth cents in $2. 🤷‍♀️

[msc545]

I'm not trying to say that he has done anything wrong. That is not the point. The point is that the system is broken in that it allows extremes like this which are harmful in and of themselves and there is no mechanism to constrain these kinds of things.

[MrChinaski]

Fair. The basic idea is to tax.

[msc545]

Yeah but at that point you have regulatory capture so there is no tax

[Ariesman81Nshiiit]

I would say the bigger threat is monopolization of markets and subsidization of said markets. But that's not capitalism.

[Snakeyes7]

[Anonymous]

Yeah, far more to do with it not being real money anymore, Rockefeller was barely a billionaire because everything was real

[RedInnocent69]

It always has been

[robocop666]

watch the documentary the corporation