From Bloomberg
Switzerland’s UBS Group AG predicts the number of millionaires in Taiwan will grow by half in the five years to 2028, the fastest pace of any global market, reaching almost 1.2 million
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they’re all politicians or work for TSMC and its supply chain
JPMorgan, AllianzGI and rivals are racing to get some of the cash generated by a surging tech sector.
Taiwanese people should be doing the same thing. Work in finance or real estate.
If everyone works in finance or real estate, we’re going to have a really rough feeding ourselves, getting around, moving goods around, etc. You cannot have a functional society if everyone does the same thing.
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The ones who can’t hack it will do the support jobs. Nothing wrong with that.
A great man once said, “The world needs ditch diggers too.”
Of course. Finance and real estate are zero sum, unlike tech.
But people need to find some way to make money off these tech motherfuckers.
Duh.
https://www.ft.com/content/bfdd0306-1235-4a82-b802-69be03f9d822
The world literally needs farmers, truck drivers, road pavers, train track repairers, AC installers, teachers, etc. Without them, we do not have a society. We have a bunch of rich people sitting on their asses expecting food to magically appear in front of them when they’re hungry. Can’t have that if no one is growing and transporting that food, not to mention we need people to repair the roads and tracks in order for transportation of those goods to happen. You can’t eat money but you can eat the rich.
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The implication here is that the current number of US$ millionaires is 600,000.
That’s a bit less than 3% of the population, which is not particularly high.
I assume they are referring to financial assets (not including property or at least primary residence).
Still, that 600k figure seems low to me.
Wikipedia quotes a Credit Suisse report estimating the number of millionaires in Taiwan at 869k, or 4.4% of the population.
That’s about half the US percentage, but not too bad for Asia (ex- the money laundering centers).
South Korea and Japan are both at about 3%. So I guess I was wrong – Taiwan’s figure is not particularly low.
I could care less about number of millionaires. What’s more important is Gini coefficient.
Which demonstrates a fundamental misunderstanding of the issue at hand.
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Those millionaires are likely the reason why the road is unsafe.
…Nope. Inequality is a hugely complex issue.
That being an undisputable fact, your lack of interest in the number of millionaires is somewhat perplexing. I know, but hear me out –
Assuming that the forecast of a doubling in the number of millionaires in Taiwan cited in the Bloomberg article is correct, then surely this will increase the danger of the roads. There is no doubt about this, the only question is by how much will the danger increase?
Is the increase in traffic risk linear? In other words, will the doubling of millionaires also double the danger of driving / riding / walking down the street / sidewalk?
I sort of doubt it – the doubling of millionaires on the byways and highways of Taiwan will surely increase those risks parabolically.
I mean, think about it. More and more entitled wealthy all driving badly, and all of whom are wealthy because they know somebody and/or cheated on their taxes and/or inherited it anyway. it has to result in more than a doubling of road incidents.
Empirical evidence justifies this thesis. The jurisdictions in Asia with the highest percentage of millionaires per population are Hong Kong (15%) and Singapore (13%). And those entitled rich bastards are so sociopathic and uncaring of the proletariat (us) that they drive their cars on the LEFT side of the road!!!
Let that sink in.
Time to get the revolution going again, I says.