Worlds Billionaires Wealth Swells to 60 Trillion

[tay]

Billionaires increased their combined global wealth by almost a fifth last year to a record $6tn (£4.5tn) – more than twice the GDP of the UK. There are now 1,542 dollar billionaires across the world, after 145 multi-millionaires saw their wealth tick over into nine-zero fortunes last year, according to the UBS / PwC Billionaires report.

Josef Stadler, the lead author of the report and UBS’s head of global ultra high net worth, said his billionaire clients were concerned that growing inequality between rich and poor could lead to a “strike back”.

“We’re at an inflection point,” Stadler said. “Wealth concentration is as high as in 1905, this is something billionaires are concerned about. The problem is the power of interest on interest – that makes big money bigger and, the question is to what extent is that sustainable and at what point will society intervene and strike back?”

He said the “$1bn question” was how society would react to the concentration of so much money in the hands of so few.

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https://www.theguardian.com/busines...lded-age-as-billionaires-wealth-swells-to-6tn

 

[MHz]

https://books.google.ca/books?id=sP...epage&q=Wealth concentration in 1905,&f=false
To bad the inbred 1% had control of 50% of the wealth in 1905 (just the US, the stats for the Rothschild banks is somewhat higher), 100M lives could have been spared in just the two World Wars.

 

[Hoid]

And the trouble starts when you try to tax income.

 

[MHz]

Only from the rich sector. I guess the more you have the bigger of a crybaby you become.

 

[Kreskin]

Give them all tax breaks! They need them!

 

[MHz]

That'll teach them alright. Ruin their hips having to sit on a fat wallet.

 

[Danbones]

Yeah man, when your wallet has a ledge on it so you can park your a$$ down while waiting for a ride at the porsche stop.

 

[Walter]

Good for them, we need more rich people.

 

[taxslave]

Takes money to make money. Most of these are the people that creat the many thousands of jobs the masses require.

Good for them, we need more rich people.

Pickme Pickme.

 

[Walter]

Pickme Pickme.

Produce something others want and you'll be rich.

 

[taxslave]

That has been the problem. I got involved with things they need instead of want.People will cheap out on things they need to buy trinkets.

 

[gopher]

Scripture quoting Jesus recorded in the synoptic gospels: I tell you the truth, it is hard for a rich man to enter the kingdom of heaven. Again I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God. ~ Matthew 19:24

 

[MHz]

Good for them, we need more rich people.

You forgot the 'that aren't pricks like the last bunch.' part. Just sayin . . .
Walnut probably means richer people rather than more rich people.

 

[Walter]

That has been the problem. I got involved with things they need instead of want.People will cheap out on things they need to buy trinkets.

Bill Gates and Steve Jobs et al, produced trinkets?

 

[Danbones]

So when do we start calling them trillionaires?

 

[Walter]

So when do we start calling them trillionaires?

when they have a thousand billion.

 

[darkbeaver]

Produce something others want and you'll be rich.

A revolution is in demand right now Walter because others want an adjustment in power sharing. The ultra rich will cooperate or hang.

 

[Hoid]

The big thing that is going on is leaving your wealth to the public. Gates and Buffet and Soros are looking at this while the little guys like Trump are trying their damnedest to make sure inheritance laws are relaxed so they can give even less to the public.

I think the Big Guys will win. I think it is pretty apparent that the current state of affairs is a recipe for disaster.

The 1% thing does not work for long.

 

[pgs]

The big thing that is going on is leaving your wealth to the public. Gates and Buffet and Soros are looking at this while the little guys like Trump are trying their damnedest to make sure inheritance laws are relaxed so they can give even less to the public.

I think the Big Guys will win. I think it is pretty apparent that the current state of affairs is a recipe for disaster.

The 1% thing does not work for long.

Is there a static level of wealth ?

 

[Hoid]

There is a danger to concentrating so much wealth in so few hands.