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Billionaires – 2000 to 2017

  1. James Beckman
    January 23, 2019 at 12:02 pm

    So much wealth is tied to the stock market & high-end real estate that the spiraling wealth numbers really don’t mean much, except for the important realization that a relative handful of persons across the globe are really leveraging their opportunities. My major concern is the bottom third or so: how do they live with whatever government support is available. Here in Germany I see the answer to be, “not badly”.l

    • patrick newman
      January 23, 2019 at 12:12 pm

      Good! So there is no poverty in Germany and the public services are well funded. Those in the USA and the rest of Europe must be very envious. Wealth brings security, control, political influence and above all enormous income.

    • Robert Locke
      January 24, 2019 at 1:24 pm

      “So much wealth is tied to the stock market & high-end real estate that the spiraling wealth numbers really don’t mean much, except for the important realization that a relative handful of persons across the globe are really leveraging their opportunities.”

      It’s systemic James, if the Germans are living “not badly” it is the banking system,the educational system and the social network that allows them to do so. Take their systemic differences away and they would be like poor Americans. The leveraged opportunities that the rich do, are not inherent in humanity, but in the system of finance investor capitalism that the denizens of Davos enjoy.

  2. January 23, 2019 at 1:58 pm

    I am curious about how this then impacts on (assets) inflation and how that is then dealt with by the current practice of central banks raising interest rates across the board impacting those of us NOT contributing to inflation but not really affecting that class that may be impacting it through their speculation. Is that impact being separated out from inflation calculations with what the BoC calls their adjustments?

    • lobdillj
      January 23, 2019 at 4:09 pm

      This income is associated with the rentier economy. It is mostly not spent into the real economy. It causes rentier asset inflation, which then increases rents paid by the general public but produces no real GDP. Therefore, it is a drain on M1 and thus produces a decrease in future employment and production (a depression in the real economy).

      • January 23, 2019 at 6:46 pm

        I knew all that and from your comment one could then surmise that it is actually deflationary but is it calculated as part of the inflation measurement and thus artificially makes it look like inflation is higher than it is as part of the accommodation or real estate costs? If real estate prices are part of the measure of inflation.

  3. Craig
    January 23, 2019 at 9:17 pm

    What is the “retail product” of a commodities exchange? What if there was a policy of a 10% discount/rebate on every futures contract, and the purchaser of that contract was able to count that discount as profit….IF they did not increase their prices except for valid and actual increase in their business costs…..and were taxed severely if they did?

    What if we abolished the charter for money creation by private banks and instituted an arm’s length publicly administered national banking system and central bank that might allow some, but looked intensively askance at large speculative leveraging in order to inflate asset and commodities prices? One that would also completely wind down the mountainous debt from derivatives from before the GFC and let the chips fall where they may for the opposing parties….and never allow any such idiocy in the future?

    These are a couple of the policies, regulations and structural changes of Wisdomics-Gracenomics.

    Let us end the de-stabilizing speculative, casino-like financialization of the economy and, with the concept behind the new paradigm create a more prosperous re-retailization of same.

  4. Grayce
    January 24, 2019 at 5:15 am

    Just saying “speculative, casino-like financialization” is enough to cause shudders in any thinking person concerned with the future.

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