(Zero Hedge) A daily ranking of the world’s richest individuals shows a vast amount of wealth evaporated this year as the Federal Reserve’s missteps in curbing inflation triggered cross-asset implosions.
Billionaires
Billionaires’ Twitter-Spat Moves On After Gates Downplays Shorting Tesla’s Stock
(Tyler Durden) The public feud between two of the world’s richest people keeps unfolding as Elon Musk hit back at Microsoft CEO Bill Gates, who had just played down his tune on shorting Tesla stocks.
Billionaires Taking $1.01 Billion from Taxpayers to Finance a Football Stadium — Distracting You is Expensive
(Matt Agorist) It’s no secret that the federal government has little restraint about using taxpayer dollars for non-essential initiatives and projects. One venture, in particular, continuously shouldered by taxpayers is the building, maintaining, and renovating of sports stadiums. These stadiums are often built with the help of federal subsidies as well as funding through state and local taxes. This issue is not new, as study of subsidized stadiums by the Department of Economics at the College of the Holy Cross noted that “construction costs alone for major league professional sports facilities have totaled in excess of $30 billion in nominal terms over the past two decades with over half of the cost being paid by the public.”
Build Back Better Billionaires
(Zero Hedge) Before internet memes allowed for spontaneous sarcasm to go viral, work-based humor used to be based around coffee mugs and posters. The reigning king of these David Brent / Michael Scott media was: “You don’t have to be mad to work here – but it helps!”
China Created More Billionaires Than Every Other Country Combined During Pandemic
(Paul Joseph Watson) Continuing its rapid post-COVID economic recovery, it has been revealed that China created more billionaires in 2020 than the rest of the world combined.