Joe Biden’s economy is now hitting the world’s richest.
The 500 wealthiest people have lost a combined $1.4 trillion over the past year – $206 billion was on Monday alone.
The 500 wealthiest people in the world have lost a combined $1.4 trillion this year, including $206 billion on Monday alone, according to the Bloomberg Billionaires Index, as global financial markets buckle under the weight of higher interest rates and inflation anxiety.
The data show that the ranks of the wealthy in Asia-Pacific increased just 4.2% — trailing Europe and falling further behind North America after dominating the growth of rich people for the past decade.
China’s crackdown on technology companies and a cooling real estate market was partly the cause, but it also reflected the ferocious gains in the US stock market, which helped inflate everything from cryptocurrencies to property values. That’s now rapidly reversing as inflation has spiraled, prompting concerns over how sharply the Federal Reserve will raise rates.
Reminder:
The 1% donated record money to Joe Biden. Joe Biden received record dark money. They helped rigged the election for Joe Biden. This is what they supported.
Will they apologize to the American people?
The Palmieri Report is a Pro-America News Outlet. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions. Make sure to bookmark The Palmieri Report for new articles every 30 minutes!
Follow us on social media:
Follow our Rumble for daily uploads
Listen to our Daily News Podcast!
