Wednesday, October 7, 2020

"Billionaire Wealth Hits $10 Trillion For First Time Ever Thanks To Government Stimulus"

Trying to stay a half-step ahead of the Marxists with the billionaire link.

In for a's a gift to them from that amazing 1972 Playboy interview with Saul Alinsky:

"Rub raw the sores of social discontent"

“The despair is there; now it’s up to us to go in and rub raw the sores of discontent, galvanize them for radical social change. We’ll give them a way to participate in the democratic process, a way to exercise their rights as citizens and strike back at the establishment that oppresses them, instead of giving in to apathy. We’ll start with specific issues — taxes, jobs, consumer problems, pollution — and from there move on to the larger issues: pollution in the Pentagon and the Congress and the board rooms of the megacorporations. Once you organize people, they’ll keep advancing from issue to issue toward the ultimate objective: people power. We’ll not only give them a cause, we’ll make life goddamn exciting for them again — life instead of existence. We’ll turn them on....

The guiding principle of every community organizer since Alinsky first mentioned the concept in the 1930's.

From Forbes, October 7:

Coronavirus has boosted total billionaire wealth to its highest level ever. Since the pandemic begun, the total wealth held by billionaires around the world has grown by a quarter to over $10 trillion.

The landmark co-insides with another in the billionaire world, that of the world's first ever $200 billionaire. Jeff Bezos's net worth crossed the $200 mark in August, just when UBS and PwC were tallying up the data for its annual report on billionaires.

That report, released on Wednesday (7 October), shows that collective billionaire wealth has grown at its fastest rate over any period over the past decade.

Between April and July, billionaires grew their wealth by 27% from $8 trillion at the beginning of April. This was largely thanks to government stimulus packages.

"Billionaire wealth is loosely correlated with equity markets," notes the 'Riding the Storm' report co-published by UBS and PwC. "From the end of March, governments’ huge fiscal and quantitative easing packages drove a recovery in financial markets."

Over half of the stocks and shares owned by American households are held by the richest 1% according to research by Goldman Sachs GS +0.4%in February. As markets rise, as they have done since March, the wealthiest therefore see the biggest gains....


The Nation Has Questions: "While the Poor Get Sick, Bill Gates Just Gets Richer"

I don't think I'm going to be invited to any of the meetings.