The Amazing COVID Wealth Theft! The Top 1% Fared Far Better Than The Bottom 50% With Fed COVID Money Printing (Since COVID, Top 1% Share Of Net Worth Rose 7.4%, Bottom 50% Share Fell -5%)

Confounded Interest ^ | 05/29/2023 | Anthony B. Sanders

[Kaiser8408a]

It is not a surprise that the ill-advised COVID economic shutdowns would harm small businesses that large corporations.

Yes, The Fed’s M2 Money printing press went wild with COVID emergency refief. And so did the discrepancy between the top 1% and the bottom 50% in terms of “Share of Total Net Worth Held.” The top 1% is in blue and the bottom 50% is in red. M2 Money is in green.

Compared to pre-COVID, the top 1% increased their share of total net worth from 29.7% to 31.9%, an increase of 7.4% since January 2020. The bottom 50% fell from 30% to 28.5%, a -5% decline. An elitist wonderland!

And The Biden family keeps raking in the money far about Joe’s salary.

And I assume Fed Chair Jerome Powell and Treasury Secretary Janet Yellen also made fortunes from COVID relief.

Foul owls on the prowl!

[Kaiser8408a]

F'ing scums in DC and The Fed.

[Erik Latranyi]

It started with the hastily written and virtually undebated $2 trillion CARES Act!!!

[GailA]

BTT

[Worldtraveler once upon a time]

And therein lies the tale. Money. Scare the rubes, and have them run to the line with the sign "experiment."

I will say again, based on "official" US data, the mortality rate in Fauci's "gold standard" US was four times higher than many other nations around this world. Four times higher.

[caddie]

We need to focus on:

Indictments for the capital crimes of bioweapons (Covid and vaccine) development and deployment.

Execution of the perpetrators (In NIH, CDC, Pharma) and imprisonment of the lesser players.

Sale or disbursal of corporation assets of companies involved to claimants or a special fund for distribution.

Research the laws ! The federal and international laws against bioweapons is comprehensive and well established.

Enforce the laws, which are severe, and this will likely never happen again.

[Bernard]

Large corporations, states and counties. Illinois has used the COVID relief flood to pretend they balanced the budget, caught up on vendor payments, paid out a "rebate" just before the governor's re-election (paid in September before the early November election) and lined God only knows how many pockets.

The good news is that since nothing bad will ever come from running up the federal debt, there will never be any consequences.

A thousand years from now, the American federal debt will be mentioned in history books with some kind of name; just like the Tower of Babel or The Golden Calf. And some people will not believe anybody could be stupid enough to spend that much money to destroy the shining city on the hill.

[traditional2]

Can’t wait to see the numbers from the Global Warming Scam......or the EV scam that was a big part of it. Your wallet is the target in ALL this B.S., along with control with un-Constitutional laws that the complicit USSC won’t even Hear.....

[sten]

you seem to be pushing some sort of class envy agenda to encourage strife.

as an fyi, money is not finite and ‘rich people’ do not lounge around in piles of it.

if the bottom 50%, those making less than $30k/yr, lost 5% of their wealth... that would be because they weren’t working but still had to pay their bills. of course, the bottom 50% doesn’t have much to begin with so they’re just stretching what they had by working less. also, with inflation the bottom 50% will see a hit as their income didn’t keep up. the top 20% would’ve seen their wealth stay on par with inflation due to investments, which the bottom 50% generally doesn’t have.

but hey, thanks for the quick troll. it’s really is expected of noobie dems pretending to be freepers.

[joma89]

This result was by design and even better, the totally useful idiots in tbe bottom 50% voted for this theft and activities helped make the theft possible.

Since I am not in the bottom 50%, I am glad to say the bottom 50% deserves this result.

[spintreebob]

There are 2 different measures: Let’s call them wealth and income.

Wealth was hit during COVID. The working poor do not have eaealth. They have income. Biden’s inflation hit the poor... the cost of food, of gas to get to work, the cost of housing ... the cost of being poor ... far more than the impact of inflation.

Biden is bad for the working poor.

[spintreebob]

There are 2 different measures: Let’s call them wealth and income.

Wealth was hit during COVID. The working poor do not have eaealth. They have income. Biden’s inflation hit the poor... the cost of food, of gas to get to work, the cost of housing ... the cost of being poor ... far more than the impact of inflation.

Biden is bad for the working poor.