If the world had 500 more trillionaires, the average global standard of living would be twice as high.
Faux-Socialists can’t grasp the difference between capital and wealth. They think money, the thing the government can print at will, is the same as wealth.
Even Marx understood the difference. Wealth can only be created by the workers calloused hands setting the means of production in motion.
It’s the Tesla cars, not the Tesla shares. It’s the SpaceX rockets, not the SpaceX shares. If there were twice as many shares of those companies, no matter how they are divided up, the world has the exact same amount of wealth. If there were twice as many cars or rockets, the world is clearly wealthier.
This is why socialists are unable to convert money into wealth. 15 billion dollars didn’t create a high speed rail in California. It didn’t build an EV charger network, or rural internet connections. Those things are actual wealth.
Friday was a day for the books.
All these assets closed red
Major indices around the world
Gold
Silver
BTC
Most Alt coins.
Treasuries got sold off as well.
Only thing that caught a bid was the Dollar
We are living in volatile times