Posted on 08/16/2023 2:02:09 PM PDT by lowbridge
The recent annual Global Wealth Report by UBS, a prominent Swiss bank, reveals that Europe and the United States lost trillions of dollars. Reportedly, the US lost more wealth in comparison to any country in 2022.
In 2022, the United States experienced the largest decline in wealth compared to any other nation, with a reduction of $5.9 trillion. Additionally, the report unveiled that North America and Europe lost a combined $10.9 trillion in 2022.
The US saw a decline in millionaires, with a reduction of 1 million millionaires by the end of 2022. Nevertheless, the US maintained a substantial global presence. It accounted for more than half of the world’s ultra-high-net-worth individuals, according to the UBS report.
The report shows some interesting data about Russia. Russia’s economic performance has defied expectations, standing out as a distinctive case of wealth growth. This is even amid the ongoing conflict in Ukraine. The recently published annual Global Wealth Report by UBS has provided insights into this phenomenon, highlighting that Russia’s wealth increased by a substantial $600 billion, all while geopolitical tensions remained prevalent.
(Excerpt) Read more at watcher.guru ...
Tip of the iceberg, standby to port....
Just. You. Wait.
Big Guy.
How much went to Afghanistan?
This just in!!
Zelensky finds 5.9 trillion US dollars in the gutter in Kiev.
And, let me add, how much has gone to Ukraine?
How much is making the government bureaucrats payrolls and retirement payouts in Ukraine? For what favor?
Your tax money at work. Somewhere else!
Just wait for the upcoming cluster-f.
CRE and bank crashes galore.
More printing, more bailouts.
And ... it’s gone.
Most people can’t realize how much 1 Trillion dollars amounts to let alone 5.9 Trillion. Why not break it down to numbers Billion and Millions.
No, the wealth did not “vanish”.
It was inflated out of the pockets of the people who previously held it and into the pockets of crooked politicians and their cronies.
A baby boom millionaire isn’t anything special, everyone on my parents modest block is one, some struggle to live if they hold that as cash, most are ill liquid (their house, real estate) and to old to make interesting investments.
A 40 or 50 something that levers his 200k on the other hand is useful because some tend to Yolo those fortunes away once or twice before they figure out risk/reward and size of investments. Econonomic development comes from bad investors chasing good returns. It leaves bussinesses that show cash flow with tons of investors at their call.
Baby booms are pinching their pennies in hope for enough money to survive that health event at 83 that will kill or make their personal nestegg a target of their last healthcare provider. That money is stagnate because of the specifics of US tax law, it really is no economic development value unless it is in corp bond or stocks, and at that point blackrock is chasing social issues at ice cream factories instead of sinking oil wells and building microchip factories near vegas.
Economic catastrophe as a result of America turning the nation over to a bird brained mentality defective criminal and a behind the scenes Obama.
³3
What happens in America afflicts the world. Now either continue the murder or get rid of this disease.
“Why not break it down to numbers Billion and Millions.”
Or into real world terms, like “enough money to buy every single person on the planet a Quarter Pounder meal, even at today’s inflated prices”.
Oops, that should have been “100 Quarter Pounder meals”.
We can thank the Biden regime and neocons for this. The idiotic sanction war with Russia has damaged us far more than Russia.
Whatever. I’m just glad Joe is making money and Zelenskyy can retire in Miami.
5.9 trillion? that’s nothing. Wait and see the effects of Biden’s imminent declaration of “Climate Emergency” and all the draconian control measures that will entail. It will be Covid shutdown on steroids. If you are invested, I think this might be a really fine time to cash out, maybe buy some long term index puts, and buy some precious metals. Just sayin’ what I’m doing, not making a reco, mind you.
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