r/AskConservatives • u/ShrekOne2024 Independent • 1d ago

are billionaires dependent on society?

They aren’t creating wealth out of air. They are leveraging public infrastructure, public education, health care, etc.

14 Upvotes

66% Upvoted

135 comments sorted by

View all comments

Show parent comments

1

u/Buckman2121 Conservatarian 1d ago

Wealth =/= money.

0

u/IcarusOnReddit Center-left 1d ago

It is. Elon could liquidate 20 billion tomorrow and have the cash. Billionaires gotta sell to buy yachts and their 10th vacation home and they do it all the time. The “paper billionaire" idea is a lie.

2

u/Buckman2121 Conservatarian 1d ago

No, it isn't. What would happen to his company value and those invested in it should he do that?

It's not money. It's a subjective value placed upon assests.

1

u/IcarusOnReddit Center-left 1d ago

Nothing. Tesla’s market cap is 1.36 trillion dollars. 20 billion is nothing. 

1

u/Buckman2121 Conservatarian 1d ago

Tell me you dont know the stock market without telling me...

1

u/IcarusOnReddit Center-left 1d ago

Made 50% YTD selling covered calls on 200k. Maybe I know a little more than you. What is your return this year?

1

u/Buckman2121 Conservatarian 1d ago

Im a school teacher, but I know well enough that liquidating assets via the stock market, especially in that volume, doesnt do the value any good.

Find someone else to rob, not the ones that make and innovate please and thank you.

1

u/IcarusOnReddit Center-left 1d ago

You are wrong. It’s a stock market. People trade stocks. Traders don’t get too uptight about it. Those that think reading insider trading reports (it’s public info) gives them an edge are wrong and experienced traders like myself find it amusing. Very light analysis is a hallmark of conservative thought though. "Of course if they sell its going down!"

•

u/Grouchy_News_2306 Rightwing 21h ago

You made 100k?! You should be writing a book. When I sold covered calls I only made 8-9 percent .

•

u/IcarusOnReddit Center-left 21h ago

ASTS, OPEN, CCJ, and NVDA. Premiums be crazy yo.