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by Jtsummers
480 days ago
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Because it's not just the US economy and USD. If a billionaire is over-invested in the US and USD, then a decline in the US economy and global hard and soft power (what we're seeing now) will lead to a decline in their wealth relative to global wealth. If the global economy shrinks by 80% (using your numbers) then their relative wealth can remain the same. If the US economy shrinks by 80%, then their global wealth has substantially declined while the wealthy in other countries do not suffer as much. |
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