patrick.net

https://nakedemperor.substack.com/p/this-weeks-must-reads-15-21-january

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yep , driven by the stock market gains (realized and unrealized)

2000 to 2013 and the stock market (S&P 500) was flat averaging about 2% annual return

2013 to present day and the S&P 500 averaged about 12% annual return (includes dividend)

2023 was too much of a rally and overbought conditions... 2024 likely will not continue the same rally , and the conditions are not the same as 1996-2000

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https://sovrintv.substack.com/p/the-widening-wealth-gap-a-global

The COVID-19 pandemic acted as a catalyst for wealth accumulation among the ultra-rich. Billionaires collectively increased their wealth by $3.9 trillion during the pandemic, as reported by Oxfam. By contrast, the World Bank estimates that up to 500 million people were pushed into poverty during the same period, subsisting on less than $5.50 a day. This stark dichotomy was the result of global economic shutdowns that decimated informal labor markets and small businesses while simultaneously inflating the value of assets like stocks and real estate—sectors predominantly controlled by the wealthiest. ...

Ultra-wealthy individuals and corporations capitalised on low-interest rates and quantitative easing (money printing) measures introduced by central banks during the pandemic. These policies inflated asset prices, benefiting those with significant investments in equities, bonds, and real estate. For instance, technology stocks surged during the pandemic as remote work and digital services became essential, further enriching tech billionaires.

The pandemic led to a wave of consolidations, with larger corporations acquiring struggling smaller firms. Industries such as e-commerce, pharmaceuticals, and technology saw the most significant centralisation. Companies like Amazon, Google, and Pfizer expanded their market dominance, using their resources to outlast or absorb competitors.

Maga_Chaos_Monkey says

How many billionaires go to Davos each year?

Using one of their own weaponized pathogens against them would be...more fitting?

Individual Saudis are trillionaires for sure. No clue about China, but wouldn't be surprised if Xi is a trillionaire. Who the hell knows what Putin has syphoned off from gas and oil and his long tables.

The thing with most rich people is they have to create something or provide something. Taking shit out of the ground is a big nothing burger in certain regions. Just like it was in Texas. You own the land. That's why Saudis have some of the greatest wealth on the planet. And guess what, they do nothing with it besides spend lavishly. At some point the faucet is tapped out. They'll go to being a 3rd world country in a desert. Might take 200 years, but it will happen.

Patrick says

I don't think there are any trillionaires. Who would they be?

I always wonder why no one in the Rothschild family, or any other old Bank of England/English Jewry families, are EVER mentioned in the Forbes 400 or other lists of the worlds richest.
The Names That Must Not Be Spoken

WookieMan says

At some point the faucet is tapped out. They'll go to being a 3rd world country in a desert. Might take 200 years, but it will happen.

Good point as when they run out of oil and gas then they're back to 3rd world status.

And that is why the Crown Prince of Saudi Arabia has promoted investing the profits from the energy sector into diversifying the economy including education, research & development, tourism and renewable energy.

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AD says

And that is why the Crown Prince of Saudi Arabia has promoted investing the profits from the energy sector into diversifying the economy including education, research & development, tourism and renewable energy.

Eh, he invests in expensive cars. The collapse will happen after we are dead. I've also never heard a single person with a female spouse say "lets go to Saudi Arabia."

Energy. Drop 100 square miles of solar panels and you have all the electric you need. Nope, they just build a weird 200km or whatever it is, city. Saudis have this problem as well, fresh water. They're surrounded by salt water. They can't grow or have tourism without it. Food is shipped in and not fresh. It would be an awful place to visit. And your spouse or female kids have to wear bullshit religious crap. No one is going there for tourism.

Real education and R&D would result in a revolt. So not happening either even if they say it. It's a 3rd world country with resources the 1st world needs. 1% benefit and the rest are along for the ride.

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We should see a decrease in concentration of wealth for the top 5% if the stock market crashes this year.

https://www.dailymail.co.uk/yourmoney/consumer/article-14399173/record-levels-fragility-biggest-companies-shares-crash-stock-market.html

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