Saturday, December 22, 2018

Got Your Crying Towels Handy?

Bloomberg reports a horrible tragedy.

The richest people on Earth lost $511 billion this year after record first-half gains were obliterated by a succession of bruising market selloffs.

Global trade tensions and worries about a U.S. recession dragged markets lower at year-end, leaving the 500 people on the Bloomberg Billionaires Index with a combined net worth of $4.7 trillion as of Friday’s close. It’s only the second annual decline for the daily wealth index since its 2012 debut, and represents a sharp about-turn from the start of the year, when bullish investors helped propel the fortunes of the richest to a record $5.6 trillion....

Perhaps Paul Ryan and Mitch McConnell will devise a special welfare program for them.

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