hoarding money thom hartmann has been talking about this uh... by the way if
you can see my parents and tom hartmans the big picture show last friday when i
was in washington d_c_ check it out on our twitter or face book feeds he posted
links to that
time has been saying you know
isn't affording money
no different than hoarding animals or boarding newspaper clippings or anything
else right hoarding is
the excessive collection of items along with the inability to discard them
people who were doing the hoarding typically don't see it is a problem
which makes
convincing them that they are hoarding
challenging right
the marginal utility
of having more money
is pretty low for someone who is very very rich and i'm not talking about how
many men talking about people who are making a million dollars a year i'm
talking about the topic top a rich people and there are a lot of them right
the top very small percent at their are a lot of these people because this is
such a big country
there's there just putting that money away right the marginal utility of
having that additional money stored
uh... is basically zero it's almost nothing they're not spending the money
they think that they needed
could we not make the argument that is eight compulsive type of behavior
similar to somebody who just has to sporting a hundred cats in their house
uh... they certainly don't need them and the marginal benefit is euro and uh...
uh... or or newspaper clippings are all dolls or anything else lewis
well i think one of the major differences here is pretty obvious money
takes up mir space
money takes of your space in our how much you have
it's not going to
physically overwhelm you or any space that you might know do you see that the
time as a material difference here is the fact that the money doesn't
physically take up space
well we're talking about
the psychology of it
i mean i think that
the fundamental differences that
what if you horde anything other than money say uh... old records furniture
uh... anything occurred
motorcycles cars a few port any any
item that you bought
it's something that has really mill affect apart from the environmental
affect potentially and has no effect on other people you can have ten thousand
uh... old records are you not want it doesn't really affect anyone else on the
other hand money
is something that if you have in your not using and you have just
absurd amounts of billion two billion dollars are even more than a million
dollars
and you're just having its it it's it there
other people are actually
all losing out
because of that very fact
we when you buy any other products people somehow might benefit by
you know till stimulate demand companies will innovate in some indirect way
people but if you're just holding money other people could actually use that
money to significantly improve their situation lewis let me decouple your
argument
let's say we didn't yet have
ballot running bank accounts were money is deposited in it has absolutely no
physical repercussion let's say we were in a time
were it was coins it was silver coins gold coins whatever
and the money didn't have a physical component then would hoarding money
above and beyond what you could ever possibly need be considered similar to
fourteen cats url newspaper clippings i think it would be
at least in a lot of people's minds
uh... and of course i mean there are things you could do with it i mean
let's say you're investing in in properties i mean you know their ways
you could get rid of it anne i know at this porting does happen
and i know they're people out there who have billions of dollars
sported away
the vast on i wanna say the majority of people who have money like that are very
actively involved in with you know
uh... filling philanthropic endeavors
and i don't know we can say that's majority but some are
allot are armed bill gates recently art
has convinced many billionaires tube
literally giveaway hafer fortunes of the boys at the end and they're doing it
because there is literally nothing that these people can do without an armani
alright interesting uh... who couldn't topic for discussion i don't know
exactly how i feel about it i think it's a great question to ask what is the
effect of this hoarding away all that money