Making the market “decisive” means that the Chinese government has decided to place profits before people — and even before that previously invincible talisman, economic growth.
If world’s big corporations prefer to sit on trillions of dollars in order to avoid paying taxes, let them. If they won’t invest, we should.
To make bank depositors pay for a bank bailout is sheer robbery. There is no other word for it.
A new World Wealth Report from two major global financial institutions is relating that “dollar millionaires” ended 2011 with a smaller net worth than when the year started. Go back another two years, on the other hand, and the global wealth concentration story completely changes.
From Manhattan to Monaco, the world’s deepest pockets are fashioning themselves into a new global tribe of footloose affluent souls. The business press has dubbed them the “stateless super rich.” The rest of us get to gawk at their excess — and wind up footing the ultimate bill.
Behind last week’s record-smashing $2 billion sale of the Los Angeles Dodgers sits a global economy that’s essentially enriching only the world’s super rich. A new report that tallies the latest stats on global wealth details just how incredibly far that enriching has gone.