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Brain -> World’s Billionaires Grew 50 Percent Richer in 2009 (3/13/2010 1:28:36 PM)
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OK, to become a billionaire one must have some smarts, what I really don't understand is if these people have any sense at all you would think that they would realize that eventually things are going to break down because of them taking so much.
World’s Billionaires Grew 50 Percent Richer in 2009
2009 will be remembered by millions of ordinary people as the year they lost their job, their house, or the prospect of an education. For the rich, however, it was a bonanza....
The rapid increase in the wealth of the billionaires is the result of the impoverishment of tens of millions; it is the other face of mass unemployment, poverty, utility shutoffs, and foreclosures.
Aside from direct government handouts to the banks and super-rich, the major driver of the recovery of corporate profits—and thus the stock market—was productivity growth and corporate downsizing.
In 2009, the unemployment rate rose from 7.7 to 10 percent, three million jobs were lost, and wages fell dramatically. Millions of families lost their homes and became dislocated. But productivity, the amount of output that is produced from each hour of work, rose by 7 percent.
The money freed up through the destruction of social programs, higher employee output, and corporate restructuring has found its way into the pockets of the people on Forbes’ list.
http://www.globalresearch.ca/index.php?context=va&aid=18083
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