|
Amp/Preamp Asylum Looking for a new Amp or Preamp? If you're after tubes, post over here. |
|
|
|
Amp/Preamp Asylum Looking for a new Amp or Preamp? If you're after tubes, post over here. |
|
In Reply to: RE: If you've got it, indulge yourself posted by pictureguy on April 12, 2021 at 23:27:13:
The super-rich can certainly write the checks. If it is in stock they can sell the stock and that same day money goes into their bank account and so they can write million-dollar cheques (or wire transfers) to someone's account any time.
One of my friends here in Hong Kong used to work at Barclays and now operates his own wealth management company and he deals with Billionaires and the next tier down. They invest with him. It allows him to operate his own film studio. That also allowed him access to the right people and he has taken over AMM (Asia Momentum Media) as executive director.
These investors can write million-dollar cheques like you order the Big Mac meal and McDonald's.
They hire maids at houses the owner visits once a year for a week. Sure they are employing house cleaners but the properties mostly sit empty.
This is what was happening in Vancouver, British Columbia. Rich Chinese guys buy a house in January 2020 and flip it by December hoping, like the stock market, to turn a profit.
The problem is "ghost cities" rise up as they do in China where there is a big apartment building no one lives in but apartments are bought and sold when if they can make a profit.
BC cracked down - and implemented a 20% or so foreign buyer's tax. Then they added a speculation tax so if you are a foreign buyer you MUST rent out the property at least 6 months out of the year. Otherwise, you pay a yearly tax on the value of the home. On top of property taxes. This to stop flipping.
Canadians and Americans are typically house-poor. They are millionaires but the money is largely tied up in their house. Your house may have tripled in ten years but so did all the other houses - so you sell your house for $1m but all the houses in the area are also 1m - you have to move to a cheaper city to get ahead. Asia tends to be more cash-rich. Less credit card debt. They like to pay in cash. So of course they have $8 million in the bank and look at North American homes and can't wait to buy. For half the price they can get a 4 bedroom house on the ocean!! Wow. Write the cheque - no subject to this or that - cash ready now.
Feanor asked why not save the poor. The ultimate answer is that those rich - really uber-rich - don't give a crap about us ants.
This post is made possible by the generous support of people like you and our sponsors:
Follow Ups
- RE: If you've got it, indulge yourself - RGA 17:28:48 04/13/21 (7)
- RE: If you've got it, indulge yourself - pictureguy 18:13:50 04/13/21 (6)
- RE: If you've got it, indulge yourself - RGA 19:37:38 04/13/21 (5)
- RE: If you've got it, indulge yourself - pictureguy 20:00:27 04/13/21 (4)
- RE: If you've got it, indulge yourself - RGA 21:34:25 04/13/21 (3)
- RE: If you've got it, indulge yourself - pictureguy 09:57:54 04/14/21 (1)
- If 90% is too high, how about a solid 50%? - Feanor 13:23:24 04/14/21 (0)
- RE: If you've got it, indulge yourself - pictureguy 22:31:13 04/13/21 (0)
Top of Page ]
[ Contact Us ]
[ Support/Wish List ]
[ Copyright © 2024, Audio Asylum, all rights reserved ]
