> By definition, a decrease in average asset value decreases the net worth of those with assets more than those without. That's if decrease is equal and linear

> By definition, a decrease in average asset value decreases the net worth of those with assets more than those without. That's if decrease is equal and linear for all verticals, which I don't believe is the case. > billionaires don't have a magic "avoid recession impact" button. They have many buttons: lots of intelligence which allows them to relocate assets before average folks, political lobbying which allows them to bailout troubled businesses in expense of national debt.