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Bayesian yacht latest: Morgan Stanley boss Jonathan Bloomer and Mike Lynch among missing in Sicily yacht disaster (www.bbc.co.uk)

submitted 3 months ago by wazoobonkerbrain to c/world

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Summary

Morgan Stanley International bank chairman Jonathan Bloomer, his wife Judy, and Clifford Chance lawyer Chris Morvillo are among those missing after a British yacht sank in Sicily
British tech tycoon Mike Lynch and his 18-year-old daughter Hannah are also missing
The yacht sank in bad weather in the early hours of Monday - 15 were rescued, six are missing, and a man’s body has been recovered
The body has not been formally identified, but the Palermo coastguard said it was the ship’s cook
The search is continuing on Tuesday - access to the boat’s cabins has been blocked by furniture
Separately, it has emerged that Mike Lynch’s co-defendant in a recent major legal case, Stephen Chamberlain, died on Saturday in a road accident

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[–] Viking_Hippie 10 points 3 months ago* (last edited 3 months ago) (1 children)

Yeah, it unironically would be. Nothing boosts a consumption based economy like previously hoarded wealth being spent on actual goods and services.

Which is why MC Hammer and Ringo Starr have both been much better for the US economy than for example Mark Zuckerberg ever was.

[–] [email protected] 6 points 3 months ago (1 children)

i mean yeah i was making my statement SOMEWHAT bitterly as a jab at billionaire "job creators" but it's absolutely true that what drives an economy is the DEMAND SIDE being able to actually pay for shit X3 which is why i'm a proponent of universal basic income. It sucks wealth out of the places where it's congealed and stagnant (rich people) and circulates it up through the people who actually spend it on their needs

[–] Viking_Hippie 4 points 3 months ago

I agree, with one important caveat: in order to work properly, UBI must be paired with price controls. Otherwise, the profiteers will simply raise prices even more, canceling it out.

Combining both UBI and price controls on everything needed to survive and support yourself in a modern society (housing, food, water, electricity, heating and/or aircondition, transportation, internet), though, would be EXTREMELY beneficial to literally all of society!