The rich aren't getting richer, that's bad
At least now you can say, the rich aren't getting richer.
At least now you can say, the rich aren't getting richer. Britain's richest people lost 155 billion pounds in the past year because of a deep recession and the global financial crisis, a survey showed. The Sunday Times newspaper's 2009 Rich List, featuring the thousand wealthiest people based in Britain, also found the number of billionaires sank from 75 to 43 people in the last 12 months as the credit crunch took its toll. The country's 1,000 richest people have a collective fortune of 258 billion pounds, according to the weekly newspaper. That compared with a record 413 billion pounds in last year's survey.
If the rich aren't getting any richer, the reason's pretty simple. People or Firms aren't buying as much as in the past of whatever it is that the rich are selling. That's not just bad news for the rich. it is for normal folk too. Because now the rich will need lesser number of people to make whatever they were making.
Its one thing to sneer at the the rich. Its another to understand that their misery hits us all.