the rich

12 Mar

Ah, the Rich! They Are Different From You and Me.

By Walter | 2 comments

2

Oh, joy! Forbes’ annual billionaires issue just arrived, and it does not disappoint.

You have certainly heard about the financial crisis. But let’s review: The cracks in the system began to appear in 2007, right about the time the stock market reached an all-time high in October of that year. By September of 2008, less than a year later, the world financial system was on the brink of total collapse and the entire international financial community was in a panic. Six months later, four years ago, the stock market tanked, losing more than half its value. Since then, as if by magic, the stock market has fully recovered and is now breaking records daily.

What are we to make of this remarkable recovery? It’s a teachable moment that confirms Scott Fitzgerald’s observation: “Let me tell you about the very rich. They are different from you and me.” How different? Let us count the ways.  

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