Discussion»Statements»Rosie's Corner» How will the Recession/Depression affect the billionaires? Will they just get richer while everyone else gets poorer? What do they care?
I guess it would depend on what their wealth is based on. For example: Much of Bill Gates' wealth is based on the value of the stock he owns in Microsoft. It's not that he actually has billions of dollars in the bank. So every time Microsoft stock goes down, so does Bill Gates' wealth.
Of course, there are stocks that go UP in value when the overall market goes DOWN. So a wise investor has some of those in their portfolio, to help offset their losses during market downturns.
Of course my question is totally academic rhetorical and moot Walt. We're not even millionaires. Mebbe a hundredsandaire if there is such a thing. But it seems to be to me the very wealthy do very well in any economy. Of course when the market fell in '29 some lost everything and jumped out of windows. Thank you for your reply and Happy Tuesday to thee and thine!
Didja know that the Federal Gubment OWNS and OPERATES 57% of California's forests? What the he** is HE doing about our fires? Dumbsh** dipstick!
This post was edited by RosieG at September 15, 2020 11:02 AM MDT
It owns 53.03% of land in Oregon, and 28.51% of land in Washington.
Of course, under the Constitution, most of the land the federal government "owns" today is illegal. The Constitution is very specific about when the government can own land.
To exercise exclusive legislation in all cases whatsoever, over such District (not exceeding ten miles square) as may, by cession of particular states, and the acceptance of Congress, become the seat of the government of the United States, and to exercise like authority over all places purchased by the consent of the legislature of the state in which the same shall be, for the erection of forts, magazines, arsenals, dockyards, and other needful buildings
Of course the dipsh** dipstick wipes his a** with the Constitution every day in any way he can. He never takes responsibility for anything but always takes the credit for any achievements of others. He is a vile traitor and sadly has unlimited power! I never hated anyone in my life till this abomination rose to power. NEVER. What I wish to befall him I cannot put in writing. Suffice it to say it is NOT sunshine and roses. Thank you for your reply Walt! :)
Walt O'Reagun 