I wish it had a source on the data or an explanation on the chart, I wonder what the actual determinate for “family wealth” means.
is it the total liquid cash saved up by one person? By a family or household? Does it include assets and stocks? Is it simply the annual income of someone?
Imagine how much money is inaccessible to tax or benefiting society. The People are being deprived what they are owed.
Maybe an uprising should storm their compounds or hotel rooms, and kill them?
Nah there’s a new season of Stranger Things out!
That we know of
The vast majority of that is just the number of shares times the made-up number they currently think it might be worth in the future.
When they realise they’re all just gambling on Sam Altman’s bullshit, it will evaporate just as quickly.
eh, your under the misguided notion that everyone involved doesn’t know exactly what’s happening…every decently large company has an investing/“capital preservation” department for a reason afterall.
this is not the first bubble (whether it’s fraud, silicon velley/tech, housing, credit crunch etc.), unless it’s someone’s first time everyone in the US-business world knows exactly what’s about to go down…happens every time the republicans are in power afterall.
I highly recommend reading Reminiscences of a Stock Operator, a sort of tongue-in-cheek guidebook to the stock market written over a century ago. Wallstreet/Bankstreet never change, they just occasionally rebrand
US markets have a purposeful lack of regulation that most of the rest of the world’s markets have, all designed specifically to “make it exciting”, as well as giving a huge advantage to “people in the know” or whoever has the most $/lowest cost-basis. what’s about to go down is essentially a massive game of hot-potato, anyone smart has decent cash position set aside to buy the dips on stuff that isnt shit/riddled in debt.
The tulip bubble is my favourite from history. Fucking tulips lol.
The tulip bubble is over sold as this massive event that caused people to lose everything.
This is story told through a Victorian lense and the story was an exaggeration of the moral bankruptcy. That morphed into the myth of it being financial bankruptcy.
The wealthy elites came out with little harm. It was the middle classes that were hit hardest.
Wishful thinking that it’ll all natural collapse.