Monday, April 26, 2010

Who Said Things Were Crap?

Not the wealthy of the U.K., that's for sure. According to The Guardian, the wealthiest 1000 of them managed a 30% increase last year. To quote the article:

There may have been a recession, but the combined fortunes of the richest people in Britain still managed to rise by nearly 30% last year, the biggest increase for more than two decades, according to annual ratings published today.
The Sunday Times Rich List suggests that the combined wealth of Britain's 1,000 richest people rose by more than £77bn to £333.5bn, with the number of billionaires up from 43 to 53. That still leaves the list relatively poorer than at its peak in 2008, when the combined total was nearly £413bn and there were said to be 75 billionaires. But it still means that the richest 1,000 people are more than three times richer than when Labour came to power in 1997, when their combined wealth was less than £100bn.

Yeah, three hundred percent increase in combined wealth in 13 years. In Capitalism: A Love Story, Michael Moore points out that in the U.S. the top 1% now own more than the bottom 95%. Madness.

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