Posts Tagged ‘Trump’

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2o16 will be remembered by many for the troubling signs associated with Brexit and Trump’s victory in the U.S. presidential race.

But, for the world’s billionaires, it was a great year.

According to Forbes [ht: ja],

It was a record year for the richest people on earth, as the number of billionaires jumped 13% to 2,043 from 1,810 last year, the first time ever that Forbes has pinned down more than 2,000 ten-figure-fortunes. Their total net worth rose by 18% to $7.67 trillion, also a record. The change in the number of billionaires — up 233 since the 2016 list — was the biggest in the 31 years that Forbes has been tracking billionaires globally. Gainers since last year’s list outnumbered losers by more than three to one.

Yes, indeed, capitalism has been very, very good to the world’s billionaires.

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But apparently they’re worried, too—albeit for very different reasons. And with very different means at their disposal.

According to CNN [ht: db], many of the world’s billionaires are commissioning secret shelters to house their families and staff.

Gary Lynch, general manager of Texas-based Rising S Company, says 2016 sales for their custom high-end underground bunkers grew 700% compared to 2015, while overall sales have grown 300% since the November US presidential election alone.

The company’s plate steel bunkers, which are designed to last for generations, can hold a minimum of one year’s worth of food per resident and withstand earthquakes.

So, precisely because 2016 was a great year for the world’s billionaires, it looks like 2017 will be highly remunerative for companies that design and build luxurious “doomsday bunkers” to protect the billionaires from the torches and pitchforks wielded by those they’re leaving behind.

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Trumponomics

Posted: 22 March 2017 in Uncategorized
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TRUMPONOMICS

Part 1 of the Real-World Economics Review on the causes and consequences of Trumponomics is now available.

Here is the direct link to my own contribution, “Class and Trumponomics” (pdf).

Part 2, with additional essays on Trumponomics, will be available next week.

And both issues will combined for a book that will be published in late April.

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