Realist, not conformist analysis of the latest financial, business and political news

You Noticed How The World Got Better Last Year As The Rich Got Poorer, Right?

Wealth inequality is the very terror of our age, isn’t it? As Oxfam keeps telling us that the plutocrats swallow up ever more of the global resources us out here are left with mere crumbs, just the lees and dregs of the economy to make us happy. So, we all are cheered by how much better the world became last year, right?

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]After seven years of steadily rising wealth, the richest people on the planet saw the combined value of their assets slide by 3% from a year earlier to stand at $68.1tn as financial markets plunged against a backdrop of rising tensions, with China hit the hardest by the decline.[/perfectpullquote]

If rising wealth concentration really is a problem, one that causes pain and grief, then falling such wealth concentration is a cure, makes us all better off, no?

Ah, what’s that? You didn’t notice? You don;t feel better off as a result of those capitalists having less? Then the original diagnosis is full of faeces then, isn’t it?

But then we knew that anyway, just nice to have the proof.

Wealth concentration

If the rise was a problem then the fall is a solution that should be praised, right?

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thammond
thammond
2 years ago

I don’t follow the logic that more people becoming really rich is a problem? Isn’t that what we want? The fact that i wasn’t one of them isn’t anything to whine about, unless what I actually want is for me to become really rich….

Quentin Vole
Quentin Vole
2 years ago
Reply to  thammond

But you’re almost certainly ‘rich’ compared to our parents.

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