Total world wealth as the Boston Consulting Group defines it — that’s cash deposits, money market funds, stocks and bonds, among other onshore and offshore assets — has now jumped $10 trillion over the 2007 pre-Great Recession wealth level, the previous all-time record.
We have, in other words, never been as wealthy as a human race as we are now. Yet governments the world over are pleading poverty and imposing austerity on their people. No mystery in that paradox. Just beaucoup heaps of inequality.
Monday, June 6, 2011
from Too Much: