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by claypoolb
4160 days ago
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This chart is deceiving - it does not contemplate the "age" of the wealth (see: compounding interest). The graphic shows 4.9% of the 47MM regarded as "the 1%" live in Italy. Although I do not debate that the chart is factual, I will pose question to you, as a skeptic audience: have you done business in Italy within the last 100 years? Have you heard of your friends or your friends of friends doing business there? Innovation prevails. Regardless of the rate of compounding interest. |
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