capitalism
Out of context: Reply #551
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- utopian0
Bill Gates, Elon Musk, Jeff Bezos and the rest of the ‘Oligarchic Dozen’ just reached a ‘disturbing milestone’
“The rich get richer” doesn’t even begin to tell the story these days.
According to the Institute for Policy Studies, the wealth of the top 12 billionaires in the U.S. recently exploded to more than one trillion dollars — yes, 13 digits.
The statistic, of course, is an eye-popping figure on its face, made even more so in light of the devastation in the broader economy due to the coronavirus pandemic.
“This is a disturbing milestone in the U.S. history of concentrated wealth and power,” said Chuck Collins, a director for the Washington D.C.-based progressive think tank. “This is simply too much economic and political power in the hands of twelve people. From the point of view of a democratic self-governing society, this represents an Oligarchic Dozen.”
Since the pandemic first blew up in the U.S. back in March, the “Oligarchic Dozen” has enjoyed a 40% surge in its combined wealth — or an increase of $283 billion.
- It's called capitalism...just ask deathboy.utopian
- ffsake it's only stocks, they don't have those billions in their pockets, or yachtsgrafician
- not unlike real oligarchs...grafician
- Who made the visual? I like how cheap it looks.SimonFFM
- the graphic designer from marketwatch made it.NBQ00
- Kinda misleading, tho...anyone with stocks would have seen a 40% increase from the LOWS of March, too (at least).formed
- (not defending the pathetic lack of wealth distribution, just the article was framed to tell a dramatic story, like Trump's claim of job growth since March)formed
- Don't get jealous, peasantsbabydick
- lolMrT
- It's monetary supply. When you create wealth through printing currency you devalue that Curreny and drive asset pricesdeathboy
- This is a great example of your democratic socialist leaders policy's. But Its so much more complex than just that on global stagedeathboy
- Certain arm chairs political economists take so much for granted on global scales. Truth is it's all gov manipulation and markets are going to show real correctdeathboy
- Not policydeathboy
- I just think of Goethe. Feels similar. Right now banking stocks or other forms of asset wealth may not provide any di ixendsdeathboy
- Hell utopian u seem to troll Tesla. Do u know what helps get it over 2k?deathboy
- If u cared... But not what u get paid fordeathboy
- Especially when fed is actively buying...deathboy