Here's what I've come up with to visualize wealth. Suppose you start counting, going up by 1 million dollars every second, and people sit down when you reach their net worth. Most people in the US will sit down immediately. After about 9 seconds, people in the "1%" will start sitting down. Mitt Romney would sit down after 4 minutes. Near the 17 minute mark, billionaires would start sitting down. Eric Schmidt would sit down around 2.8 hours. Finally, after nearly a day, Bill Gates would sit down.
The point of this is there's a huge range of billionaires (analogous to comparing 17 minutes to a day), and the 1% hardly even registers on this scale (like a few seconds).
To spend $1m in 60 years you have to spend $45 a day every day for the rest of your life.
To spend $1bn in 60 years you have to spend more than $45,000 a day, every day.
Those are figures I can kind of work with.
Excessive capital accumulation is what makes this system great?
Do I read that correctly?