WOW: The World’s Richest Have Lost $1.4T In 2022 – $206B On Monday Alone

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“O come, let us worship and bow down: let us kneel before the LORD our maker.”  Psalms 95:6 (KJV) 

Joe Biden’s economy is now hitting the world’s richest.

The 500 wealthiest people have lost a combined $1.4 trillion over the past year – $206 billion was on Monday alone.

From NDTV:

The 500 wealthiest people in the world have lost a combined $1.4 trillion this year, including $206 billion on Monday alone, according to the Bloomberg Billionaires Index, as global financial markets buckle under the weight of higher interest rates and inflation anxiety.

The data show that the ranks of the wealthy in Asia-Pacific increased just 4.2% — trailing Europe and falling further behind North America after dominating the growth of rich people for the past decade.

China’s crackdown on technology companies and a cooling real estate market was partly the cause, but it also reflected the ferocious gains in the US stock market, which helped inflate everything from cryptocurrencies to property values. That’s now rapidly reversing as inflation has spiraled, prompting concerns over how sharply the Federal Reserve will raise rates.

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