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Ridiculous how some people pander, especially the press, to the billionaire set.

When they have a downturn in net worth people say they “lost” money, or are “poorer” even though they’re still worth billions.

But when they’re making money hand over fist, millions of dollars daily, people act like that money doesn’t exist. “Oh, it’s tied up in investments, you can’t tax it…It’s not income! It’s not in their bank account.”

Always the poor billionaires; perpetually simultaneously unable to touch their money, complaining when they lose money they ”don’t have,” and living like billionaires with all the conspicuous consumption that goes with it.

Couldn't have happened to a better group of guillotine dodgers.

Good. Since they drive their wealth from using the value of their stocks as leverage to get loans, having these stocks collapse will not only make their loans smaller (not sure by how much), but they will have to pay using more of their dividends than what they expected

In short, they will get less money and it will cost them more to pay it back.

lol

When someone has this much money, it doesn't matter if they buy the presidency, buy the media, buy the means to live, buy people's rights... It doesn't matter. They will never get the respect and love they desperately seek like all humans do. They will never love themselves until they understand that their wealth isn't earned and they aren't special. We don't consider ourselves better than anyone as a human and then not get depressed and lonely. It's not difficult for us to accept kinship with all humans, but almost impossible for them.

Daily Reminder:

That's not enough

THERE'S THREE AND A HALF YEARS TO GO. THEY'RE PLAYING THE LONG GAME.

THEY AREN'T UPSET. THEY'RE GETTING EVERYTHING THEY WANT.

Whisper it in my ear

Rookie numbers. Needs more.

How do you screw both the rich and poor at the same time?

Oh ok, that’s sad, let me shed a few tears here before I go back to be exploited by the rich 😹😹😹😹😹😹😹😹

and the American retirees who depend on their savings lost trillions to these idiots. A majority of those retirees voted conservative, but I feel bad for the ones who didnt.

Acting like they have the billions as liquid cash is weird.

IF, and its a big if, they would start selling their assets in order to liquidate their stocks, the assets would nosedive in value to fucking hell. Most of their wealth is smoke and mirrors. Most of them spend money by borrowing cash against their assets.

Tax them so they have to lend or sell some assets to pay their fair share.

Good let’s make it another 200 billion EACH and even then that won’t be enough as they’ll all still have hundreds of billions of dollars which is absolutely insane

These are the same billionaires that donated millions to the inauguration. How's that RoI on bribery going techbros?

Coverage like this makes me feel sad.

Do people honestly not realise that billionaires always enrich themselves during recessions?

This is all going to plan for oligarchs. People celebrating it are naive unfortunately.

They deserve to lose so much more.

only meaningful if their stocks don't bounce back, but too soon to tell

Those are rookie numbers! We've got to pump that number!

A good start. It takes much more to fix this problem, though.

So that's what, about 5 minutes with of profits between them?

So what? It's not like their bank accounts got affected. Their shares are valued less which means they did not loose money but the lost money they could have had.