The Rich Are Getting Enormously Richer

Marie Pelosi Says:

So far in 2020, the rich are getting enormously richer while everyone else suffers.

The New Stimulus Bill is a classic example of screwing the average guy.

Consider the following:

1. The Government closes the economy
2. You lose your job
3. You face eviction
4. They give you $600 for all your troubles (Pelosi calls it “Significant”)

Meanwhile:

1. $135 Million goes to Burma (Burma?)
2. $85.5 Million to Cambodia
3. $1.4 BILLION for “Asia Reassurance Initiative Act”
4. $130 Million to Nepal
5. The balance goes for Political Pork

Question:  How does giving millions/billions to these countries stimulate our economy?

I dunno.

It just seems all wrong.

Terribly wrong.

Ironically (or NOT) the elite crowd is adding hundreds of billions of dollars to their wealth in a year when the majority of “normal” people are fighting for survival.

Enormously Richer

Look at Tesla founder (F)Elon Musk.  At the beginning of 2020 his wealth was $26 billion.  As of Dec 18, his wealth has grown to $156 billion.

That is a massive 6-fold increase.  And it’s built on hope and faith of investors rather than on sound financial performance.

The world’s richest man (on paper) gained a mere $67 billion this year by comparison.

However, Jeff Bezos’ total wealth now stands at $182 billion.

And that makes Bezos’ wealth greater than the market cap of 453 of the S&P 500 corporations.

Let that sink in for a moment.

Dan Gilbert’s (Quicken Loans) enormous wealth went from $7 billion to $44 billion in 2020 (without Lebron…LOL!)  And Bernard Arnault (Louis Vuitton, Moet Hennessy) went from $36 billion to $146 billion.

The point is these are crazy numbers.

And the gap between the uber rich and the average guy is growing at an alarming pace.

Getting Enormously Richer in 2021

So, how do you compete with this select group of elitists?

The simple answer is, you don’t compete with them.

Instead, profit from what they do by investing like them.

Huh?

Smart money is always moving.

And in 2021 there’s gonna be lots of moving and shakin’ going on.

The global economy is looking at a deep recession going into 2021-2022.  But that doesn’t mean that stocks are going to crash.

Learn how to make volatility in the markets your close friend by reading our January “…In Plain English” newsletter (HERE).

And remember:  It’s Not Just About Finance.

https://www.financialsmatter.com/newsletter/

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