I don’t think the rich ever lose their shields. If a (one) billionaire loses half of their money they still have half $1 billion. There is no threat to them. It’s just silly to think that a few bad months is going to destroy them. They have built this world for centuries… A few months is not going to kill the ruling class.
Yes, but usually they rebound after in the asset rise and inflation. However, this book looks less like it’s credit based. It seems to be built on companies lending to each other rather than in the banking system.
I still think the poor will suffer most, but with other drops the richest have ended up richer in real terms and in percent of assets held. I don’t think that will be true this time.
Yes, typically. But in this case, it seems to be the wealthy investing each other’s money rather than people’s houses.
A recession will still hurt everyone and particularly the poor, but the rich mat be less shielded this time around.
I don’t think the rich ever lose their shields. If a (one) billionaire loses half of their money they still have half $1 billion. There is no threat to them. It’s just silly to think that a few bad months is going to destroy them. They have built this world for centuries… A few months is not going to kill the ruling class.
Yes, but usually they rebound after in the asset rise and inflation. However, this book looks less like it’s credit based. It seems to be built on companies lending to each other rather than in the banking system.
I still think the poor will suffer most, but with other drops the richest have ended up richer in real terms and in percent of assets held. I don’t think that will be true this time.