The world’s 500 wealthiest people tracked by the Bloomberg Billionaires Index added $1.2 trillion, boosting their collective net worth 25% to $5.9 trillion…stock market bubble. https://t.co/7yNaPlvPRQ
— Frank Giustra (@Frank_Giustra) December 27, 2019
Two very separate economies, now:
… The emergence of atypical fortunes underscores just how much money the uber-rich accumulated in 2019.
And the richer they were at the start of the year, the richer they got. The world’s 500 wealthiest people tracked by the Bloomberg Billionaires Index added $1.2 trillion, boosting their collective net worth 25% to $5.9 trillion…
Such gains are sure to add fuel to the already heated debate about widening wealth and income inequality. In the U.S., the richest 0.1% control a bigger share of the pie than at any time since 1929, prompting some politicians to call for a radical restructuring of the economy…
Through it all, their bank balances remained robust, as a record bull market got a December kick with an easing of trade tensions between the U.S. and China, a resolution to Britain’s political stalemate and a blowout U.S. jobs report.
For perspective, the entire United States government only takes in about $3.5 trillion a year in revenue. https://t.co/BLxx64tkZi
— The Hoarse Whisperer (@HoarseWisperer) December 27, 2019
Inequality is rising as workers are increasingly cut out of the economic returns to productivity growth.
Productivity per workers is rising six times as fast as employees’ hourly compensation.https://t.co/bPYt1sOfP9 pic.twitter.com/NonTW4DjHE
— Steven Greenhouse (@greenhousenyt) December 27, 2019
The #unemployment rate declined faster during Obama’s last 34 months than it has during Trump’s first 34 months
If Obama’s faster rate had continued, the unemployment rate would be 2.9% right now, rather than 3.5% pic.twitter.com/NlbbBVRQpo
— I Got The Data ?? (@TrumpZombieCult) December 24, 2019
According to @aimeepicchi, if your income increased 100%, from $1.00 per year to $2.00 per year, but mine increased only 50%, from $10,000,000,000 per year to $15,000,000,000 per year, you got a bigger raise than I did. https://t.co/u5tUuoPp1h
— Dana Houle (@DanaHoule) December 27, 2019
2/x also with income inequality rising (and income upward mobility declining) chances are if you were doing good in the Obama years you’re still doing good — and if you were doing bad, you’re still doing bad. Not much chance you felt a change. https://t.co/pfsDsAPiyV
— Roy Edroso (@edroso) December 27, 2019
“Trump’s approval rating is about 15 points lower than we’d predict from the historical relationship between economic evaluations and presidential approval.” Interesting new piece from ?@johnmsides? https://t.co/UsIEfqf8O8
— Jim Goldgeier (@JimGoldgeier) December 26, 2019
— Chris Lu (@ChrisLu44) December 25, 2019
I feel like at some point we should have a conversation about how Tom Steyer stole Kamala Harris’s donor info and he is still in the race and she had to drop out from lack of money.
— Kaitlin Byrd (@GothamGirlBlue) December 27, 2019