Every Billionaire Represents A Policy Failure, Part Infinity

Eat the Rich

T’is the Season

The W$J, in an attempt to rally the masses to feel sorry for the Billionaire Tech Bros:

The 20 richest tech billionaires have collectively lost nearly half a trillion dollars this year amid the stock market’s sharp tumble, a loss of wealth that is more than the market values of all but seven companies in the S&P 500.

The world’s richest tech moguls — including Mark Zuckerberg, Bill Gates and Larry Ellison — have seen more than $480 billion in paper wealth disappear this year through Thursday, according to the Bloomberg Billionaires Index, a daily ranking of the richest people in the world. Disappointing earnings reports from a slew of tech giants this past week have stoked recession fears, pushed stock prices lower and weighed on the fortunes of the world’s wealthiest people.

…and they still have more money than Dawg.

That these people —all of whom think that they are the smartest person in any room— could lose that much wealth and still remain the 20 richest people tells you all you need to know about income inequality.

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6 Responses to Every Billionaire Represents A Policy Failure, Part Infinity

  1. RWW says:

    Who did the billionaires “lose” the money to in their rigged casino stock market, other billionaires? Even if it’s just “paper” who won on paper? This IS a refreshing break from always blaming the socialists picking their pockets for the welfare state.

    Liked by 1 person

    • Who did the billionaires “lose” the money to in their rigged casino stock market

      No one. It’s all theoretical wealth until their shares are sold…stock prices are based on what people are willing to pay if the stocks were sold right then.

      All this does is crimp their ability to use their stock holdings as collateral for the loans they actually live on, get to deduct interest on, and by not selling their holdings, never, ever have to pay taxes on. Coupled with their companies buying their houses, their cars, their yachts, etc, they’re never liable for any of those pesky taxes the little people have to pay.

      Liked by 1 person

  2. roket says:

    Is it safe to call them losers then??

    Liked by 1 person

  3. MDavis says:

    I’d like to see a comparison of the amount (theoretically) lost with the percentage lost.
    But that might be newsworthy, and not in a way that puts this “loss” in a good propaganda light.

    Liked by 1 person

  4. pagan in repose says:

    I’ve been saying this, in my own words, ever since I read an article by Warren Buffet a few decades ago. The article was about how he always made money whether the stock market was up or down. Just like all his fellow multi-multi-richy-richies.

    So, yes, the stock market is just stealing our money in broad daylight for the wealthy.

    Like

  5. pagan in repose says:

    Let me add just one more word to the above: “…the UNREGULATED stock market…”

    Like

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