Monday, June 6, 2011

the most remarkable statistic

from Too Much:
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.