The problem is that they aren’t buying mega yachts. Buying a mega yacht would put ship builders to work.

Instead, they are buying the factories where the workers labor. The are buying the mortgages the workers are paying, the car loans the workers are paying. They are using their money to buy up income-generating financial assets, and spending less than you or I do on actual products and services.

Replace “mega yacht” with “registered security”, and we have created a functioning economy.