Video & Multimedia

Bernardo de La Paz

(60,320 posts)

4. Your thesis fails. Most billionaires do not have more cash than the assets value would fall.

Fri Jul 29, 2016, 03:11 PM

Jul 2016

Rich people don't keep as much in cash as the middle class does keep in bank accounts, etc.

The rich assets are tied up in corporate projects and many illiquid assets.

In a big crash, asset values fall and cash is king -- on this point you are correct. But the Kochs and other 0.1 % can't convert assets to cash to buy other assets when all assets are devaluing.

If Trump were to win (heaven forfend), expect a fire sale on the stock market and some other assets between November 9 and January.

Even so, the other posters are right, fatcats don't want a Trump win. They do not run their businesses the way Trump does: not paying bills and periodically giving creditors a bath in bankruptcy.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

6 replies

= new reply since forum marked as read

Highlight:

Billionaires Beg Koch Brothers To Pour Money Into Trump Campaign [View all] GoLeft TV Jul 2016 OP

Money alone can fix it? bucolic_frolic Jul 2016 #1

Trump's policies, such as they are, are bad for business. comradebillyboy Jul 2016 #2

We have better watch this carefully.... N_E_1 for Tennis Jul 2016 #3

Your thesis fails. Most billionaires do not have more cash than the assets value would fall. Bernardo de La Paz Jul 2016 #4

he gets PLENTY of free GNEWZ time. pansypoo53219 Jul 2016 #5

I thought Trump was going to finance his own campaign? mdbl Jul 2016 #6