Posted on 01/25/2021 6:31:12 PM PST by CheshireTheCat
The world's ten richest people, including Jeff Bezos, Elon Musk and Bill Gates, have seen their collective wealth increase by half a trillion dollars since the start of the Covid pandemic, according to a new report.
The business magnates could even pay to vaccinate the entire world with their profits from the last year, the Oxfam study claims.
The anti-poverty campaigners used figures from the Forbes 2020 Billionaire List and wealth data from Credit Suisse to investigate the financial impact of the pandemic on the world's wealthiest.
Oxfam said the richest 1,000 people have already managed to recoup the losses they recorded in the early days of the pandemic because of the bounce back in stock markets.
By contrast, Oxfam said it could take more than a decade for the world's poorest to recover their losses....
(Excerpt) Read more at dailymail.co.uk ...
Musk should not be included in that group. He actually makes something you can touch. The rest are just services that people can live without.
“with their profits from the last year”
There are no profits. Yet. It’s all on paper. It doesn’t exist but in theory, yet Oxfam et al want to steal it.
Were these 10 to cash in the imputed $½T any time construed as near term, the value would collapse and they’d get little.
Is this another case where the start day is at the bottom of the market drop, after they had lost 30% of the paper-wealth? By that measure, my 401k has nearly doubled - when over the last 18 months it is only up 10%.
Imagine that.
But what does it profit a man to gain the whole world and yet lose his own soul?
Just for contrast...there’s a lady who dines at our church kitchen once a week, I ran into her today, asked her how she’s doing.
She got a one-point-something raise in her Soc Sec check, came to around $10. Shortly after that, a notice came from county assistance saying that due to her Soc Sec increase, her food stamps allotment was being cut by $5.
She said it didn’t hurt much but hoped the $5 wasn’t going to a gender program in Pakistan.
But who’s counting?
LOL
Good——grim——humor. All that’s left to us now.
If keeps us from listening to Jim Carrey for laughs.
and I just know they are going to share all that loot with American citizens who are out of work due to the Wu Hu Flu...
How touching
SOBBITY SOB SOB...(Tears of joy)
People just can’t grasp that printed, fiat, centrally-controlled money (via the Federal Reserve) is at the root of most of our societal and political evils.
It makes the rich richer, it gives government the ability to grow forever, it encourages statists and leftist to take-over government, it funds long-term social engineering schemes.
Actually, there is nobody in the world that needs anything that Musk and his companies produce. No need for his expensive Tesla cars, and no need for this rockets, and no need for his battery businesses.
So, tell me, what did we do before Musk came on the scene?
No doubt that what he produces is beneficial, but also not necessary.
Nowadays, we can’t do without the computer-based and internet-based and IT-based industries/businesses.
Terlinga Texas is an odd place. Those that live there are mostly libertarians. I like Terliga greatly and The Starlgiht Theater. It was all magic.
Salute Marines
Pikers!
But how many trillions have the rest of us made by investing in those firms?
For example Musk owns 20% of Tesla - that means the rest of the people that invested in Tesla made 4 times what Musk made. And he made by providing a product that people drool over.
This is another case of ignorant envy - the most corrosive of the 7 deadly sins.
“The rest are just services that people can live without.”
And nobody forces them to buy them - bottom line they do, that means it is worth it to them
As stated....The world’s ten richest people have seen their collective wealth increase by half a trillion dollars since the start of the Covid pandemic.
...and they will do whatever is necessary to ‘sustain’ that lifestyle of wealth and power intoxication as any obsessive drive for power and wealth can be just as harmful as an addiction to drugs or alcohol. However The cash/power addict can madly mainline from the trading floor, the Senate floor or, with smart phone in hand, the bathroom floor without ever risking a deadly OD,...but they will certainly neglect their own families while they work long hours to make more.
Cash addicts in the U.S. government , their campaigns funded by the wealthy, will steal from the poor, destroy the environment, rip off sick children, engage in colonial exploitation, start wars and even sacrifice kids in yet another school shooting, if it means they can make some more bucks and excersize their power.........they’ll even hijack human spirituality, exploit hatred, brainwash the masses, derail politics and tinker with fascism in their desire to have more....... while they get together to figure out ways to enrich each other financially.
Actually they’re ‘like Hoarders’..... Too much ain’t enough!....off shore accounts and properties aren’t really any different than old newspapers–it’s just lowbrow stuff vs. highbrow stuff.
Know you know why this flu has lasted so long.
Democrats killing as many people without a care in the world.
When several trillions are suddenly thrown into the economy, it’s going to find it’s way to investors. My guess is that most investors made a lot of money during the pandemic. The only real lesson to be learned is that it’s worthwhile to invest.
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