Big Pharma and its stockholders made obscene profits during the “pandemic”and from sales of the killer jew-jab.
America’s top 1% get $2 trillion richer
The wealthiest Americans got even richer last year and now possess $44.6 trillion in combined assets, thanks to the skyrocketing stock market, CNBC reported on Thursday, citing new data from the Federal Reserve.
The Federal Reserve defines America’s top 1% as those with personal wealth amounting to more than $11 million. In the fourth quarter of last year, they saw their combined net worth rise by around $2 trillion, according to CNBC.
The rise was largely the result of a stock market rally at the end of the year, as the value of corporate equities and mutual fund shares held by the richest US citizens skyrocketed from $17.65 trillion to $19.7 trillion.
Middle-class Americans also reportedly saw their wealth increase, but Federal Reserve data indicates that the wealthiest 1% are the primary beneficiaries of the stock market rally, since the market gains remain heavily concentrated in the hands of the richest. The top 10% of Americans own 87% of individually held stocks and mutual funds, according to CNBC, while the top 1% hold half of it and account for 30% of the combined wealth.
The quarterly gain adds to a boom that began in 2020 with the Covid-19 pandemic market surge, CNBC says. Since that time, the net worth of the top 1% has risen by around $15 trillion – almost 50%.
Inequality, which was in decline in 2021 and 2022, began growing again in 2023, the media outlet said, noting that the wealth gap returned to pre-pandemic levels.
I am surprised the top 1% includes people with assets worth not more than 10 million USD. On the other hand, the really richest, multi-trillionaires, are not even listed in the official 100 richest lists, only their billionaire minions, people like George Soros, Jeff Bezos and Bill Gates. Their fortunes are not for them to use as they please, but are their war chest to be used as their bosses say. If they don’t obey, the European Commission and US Congress quickly make them toe the line.
True. What a joke that the Rothschilds and Rockefellers are not on the Fortune magazine annual list of the 200 top billionaires, though they are both worth probably a thousand billions each from running central banking and the oil industry, plus all their other investments.
There are a lot of conspiracy sites that state they are worth over 500 trillion, but if they control all money they run the whole world and are helped by ‘spiritual evil entities in high places’, and our ego.