World’s Wealthiest Gain $27 Billion as Google Shares Soar

The top 1% owns 36% of all wealth

Peter Newcomb
Bloomberg
October 5, 2012

The 100 richest people on Earth gained a combined $26.9 billion this week as an unexpected drop in the American unemployment rate bolstered confidence in the world’s largest economy.

The fortunes of Google Inc. founders Sergey Brin, 39, and Larry Page, 39, reached their highest point ever Thursday. Google shares established a record high after the Mountain View, California-based company announced it had settled a lawsuit with five publishers over the digital scanning of books. Brin and Page rank 20th and 23th in the world with net worths of about $23 billion, according to the Bloomberg Billionaires Index.

Read more…

*****
Oh hey, the economy and job market is recovering.  They say it’s so, so it must be so.
While the comments in this piece regarding profits is true, the foundation they rely on, regarding unemployement, is a total wash… one-uping George Dubya Bush’s “go out and shop” BS post 9/11.
What an absolute sham.  The only reason they can hide the breadth of ruin ravaging the economy is because they mail EBT cards and food stamps; the days of long bread lines are over… so it’s quite easy to keep everything out of sight.  Isn’t that great?  All the niceties of our society, from the slaughter of billions of animals per year to sociopolitical realities, all neatly tucked out of sight, allowing us to be lulled into delusion.
Oh yeah, “an unexpected drop in the American unemployment rate” while 100 million Americans are on some sort of welfare and one in five cannot afford to buy proper food.  Seriously, what next?  
It’s this type of actual bullshit that makes me want to slam my fist against something.
*****

Similar posts:

Quantitative Easing Explained! 
[Poll shows] 1 in 5 Americans cannot afford to buy food
100 million Americans on welfare…

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s