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Good point, maybe the more important statistic is that there's 900 billionaires in America, representing about 7 trillion in collective wealth. The USA GDP is 3
by komali2 11mo ago
Good point, maybe the more important statistic is that there's 900 billionaires in America, representing about 7 trillion in collective wealth. The USA GDP is 30 trillion... the situation just seems inherently wrong to me.
- ggreer 11mo agoYou are comparing a stock to a flow. Billionares in the US don't make $7 trillion per year. They accumulated that wealth over their lifetimes. If you want to compare apples to apples: The net worth of the US (as much as that concept can make sense) is around $176 trillion. That includes $269 trillion in assets and $123 trillion in debts.
- komali2 11mo agoSure, all I'm saying is it's bizarre that the country allows its resources to be allocated so inefficiently.