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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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23119423 No.23119423 [Reply] [Original]

>The world's richest saw their wealth climb 27.5% to $10.2trn (£7.9trn) from April to July this year, according to a report from Swiss bank UBS.

>That was up from the previous peak of $8.9trn at the end of 2017 and largely due to rising global share prices.

>UBS said billionaires had done "extremely well" in the Covid crisis.

>It also said the number of billionaires had hit a new high of 2,189, up from 2,158 in 2017.

>It comes as a World Bank report on Wednesday showed extreme poverty is set to rise this year for the first time in more than two decades due to the pandemic.

How?

https://www.bbc.com/news/business-54446285

>> No.23119442

>>23119423
>27%
kek don’t these losers know they could be getting 100x from foodcoins, WE ARE SO EARLY BROS

>> No.23119455

>>23119423
>How?

because the government gave you free money to sit around at home, and you blew it all on shit that the rich sell you

>> No.23119459

>>23119423
Governments printed a lot of money after the wu-flu, making it worthless.
Value of land, stocks, goods, etc increased to compensate.

>> No.23119468

>>23119423
>How?
Because the government can print their own shitcoin ad infinitum, but they can't print more Amazon Inc. stock.

Thus, ceteris paribus, if you own a lot of Amazon Inc. stock and the money base increases, your wealth measured in that money will increase.

But that doesn't mean much, just like being a billionaire in Venezuelan Bolivar doesn't mean much.

>> No.23119471

>>23119459
always amazes me that even on /biz/ and other so-called business forums, so many people miss that fact. there's no free lunch, every penny of this stimulus came out of the pockets of savers and others who dont own the assets you mentioned. AKA, the poor got poorer, and the rich got richer. as usual. what a joke of a system.

>> No.23119472

>>23119442
This. Per capita I'm actually richer than bezos since I get way higher APY than 27%

>> No.23120514

Weimar
Republic

>> No.23120520

>>23119459
>after
lol

>> No.23120731

>>23119423
Thanks China, no really

>t. Billionaire

>> No.23120755

they just bought the biggest dip possible

>> No.23121244

>>23119423
>How?

Money makes money anon

>> No.23121304

>>23119423
>How
Vast majority of billionaires' wealth is in stocks. Government is literally pumping money into stocks the past few months. People are also getting more desperate and gambling in stocks in hopes of getting a bit richer too, further increasing the wealth of the rich.

>> No.23121340

>>23119455

Smart guy.

>> No.23121399

>>23119472
KEK

>> No.23121509

>>23119471
They are not getting richer, their stocks are getting inflated. If they would dump the whole system is going to collapse. The government should stop fucking printing money. The only thing it does is making surplus fiat escape into stocks, crypto and rare minerals and creating bubbles.

>> No.23121521

I saw my net worth rise 500% during the pandemic.
>bought YFI sold the top
>bough SNX sold almost the top
Now loading up on XFI (not the chinese scam shit but Dfinance) and it's gonna be an easy 5x flip

>> No.23121543
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23121543

>>23120514
you know what comes after

>> No.23121659
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23121659

Bogus. Money grows irrespective to peasants pretending times. Correlation not causation.

>> No.23121684

don't worry it will trickle down. lord bezos will give his warehouse wagies a $0.25/hour raise and a $50 amazon gift card christmas bonus.

>> No.23121694
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23121694

What is that symbol on his vest? Is that a buttplug?

>> No.23121727

>>23119455
>>23121340
Checked, low iq poor's will be gifted 1000$ and blow it immediately on redundant bullshit or act like it had no real value because it was 'gifted'. "Oh I got 50$ for my birthday that means through some bullshit mental gymnastics I made up in my head that I am deserving of spending this on a short term pleasure or gambling to get more, this is 'special money'". See uniswap

>> No.23121737

>>23119423
it's just the pareto principle, even biblefags new about this

>> No.23121776

>>23119472
Do you write that on your application when signing the lease for your new yatch?