Billionaires Make $53 Billion in One Week as Small Businesses Continue to Close

 

 

Same old, same old… the rich keeps getting richer and the poor keeps getting poorer. Nothing new under the sun.

At this point it should be obvious to everyone that democracy and capitalism simply doesn’t work. It worked for a while but now it doesn’t work anymore.

We need a new system in place. We need to add some limits to how much money people can own, like let’s say a person can’t own more than $100 million. Anything more made should be automatically confiscated by the state. $100 million should be more than enough for an individual. Imagine the power that these people have.

Why should any people have such wealth and power? Power almost as big as some small little states in the world. This is simply not normal.

Here’s a small part of the report from Forbes:

Though the Dow Jones and S&P 500 remained virtually flat in the week through Friday, the fortunes of 10 billionaires grew by an astonishing $53.4 billion over the same period, which saw a symbolic milestone on Tuesday: The S&P 500 reached an all-time high, marking a complete reversal of losses after the stock market crash in March.

The week’s biggest gainer is Tesla founder and CEO Elon Musk, who reclaimed the title of the world’s fifth-richest person on Monday after an analyst upgrade citing bullishness in Chinese electric vehicle demand sent shares soaring. In just the past week Tesla stock has surged more than 24%, driving up Musk’s net worth by $15 billion. He ended Friday with a fortune of $91.7 billion, an all-time high for Musk. His Palo Alto, California-based company became the world’s most valuable carmaker earlier this summer and even surpassed Walmart in market cap on Friday.

Mortgage tycoon Dan Gilbert is the week’s largest gainer percentage-wise. Just two weeks after a monster public market debut that fueled a six-fold increase in Gilbert’s net worth, shares of Rocket Companies—parent of the nation’s largest home mortgage lender, Quicken Loans—continued their upward tear, climbing 37% this week and adding $13 billion to Gilbert’s fortune, including $4 billion on Friday alone. The Detroit resident, who founded Rocket Companies (then called Rock Financial) in 1985, is now worth $53.5 billion; he ended Friday as the world’s 20th richest person, surpassing Mexican telecom magnate Carlos Slim Helú, who was the richest person on the planet for several years until being officially overtaken by Bill Gates in 2013.

All of the week’s 10 biggest gainers owe their fortunes to booming tech stocks–most of which are S&P 500 components. Jeff Bezos and his ex-wife, MacKenzie Scott, for example, were the third- and seventh-biggest gainers, up $7.6 billion and $2.6 billion, respectively. Though Amazon stock leveled off by Friday, shares ended the week up 4% and even hit a new all-time high on Tuesday. The shares are up more than 70% in 2020, and Bezos’ fortune is now an eye-popping $196.3 billion.

Just so you understand:

  • The government outlawed work because a pandemic that was proved to be a total hoax.
  • Hundreds of thousands of small businesses closed down, forever.
  • Billionaires are making record profits.
  • This is “free market capitalism.”

In actual fact, however, it isn’t free market capitalism – it is a forced wealth transfer from the middle class to the world’s richest people and companies.

The Trump government did this. He did the unthinkable, not even Obama’s government did such a thing. There were speculations about locking up in FEMA camps but that did not ever came to fruition and it remained just a conspiracy theory but Trump actually did it.

While he did not lock you up in FEMA camps, he did lock you up in your house which is the same.

If you confront them about it, they will mumble something about a virus and then accuse you of anti-Semitism.

Wars have been fought over much less, I can assure you.

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