Once again it's that time of year when Forbes reminds us that over the last 12 months the poor got poorer and the rich much, much richer! The total collective net worth (real property, liquid assets, stocks, jewelry, artwork, slaves) of the world's 946 billionaires, was way up over 2006 for a grand total of $3.5 ter-illion!
Way to go, robber barons and baronesses!
Amusingly the total collective net worth (see above) of the world's four billion poorest plunged for the twentieth year running, to an all-time low of just under 35 bucks! For you Eng-Lit majors that's a barely measurable one-hundred-billionth of what the big guys have stashed in Monaco, Geneva and Grand Cayman. Surging oil prices, protectionist G8 food and cotton subsidies, over-fishing by global fleets, privatization of local water supplies, environmental die-offs of crops, animals and marine life due to climate change, all combined to widen the global income-gap to historic proportions! Break out the Cristal, you red-suspender hedge-funders!