That’s right, the new Forbes list is out where we celebrate the top .000014%!

Thanks to an unprecedented concentration of wealth, the World’s supply of Billionaires jumped 27% in 2009 and the 1,011 people in the club accumulated an AVERAGE of $500M more Dollars EACH!  Isn’t that great?  That’s $505Bn or 65% of America’s TARP spending handed over to 1,011 people who are, according to Forbes (The Capitalist’s Tool), clearly better than us. 

They sure are doing better than us as America’s 450 Billionaires added $225Bn to their bank accounts (and that’s AFTER taxes) and the saddest thing is that amount is INCLUDED in the $1.6Tn bounce of US Total Net Worth we had after losing 18% of it in 2008.  A lot of positive economic statistics are skewed by our top 1% but even the top 1% is blown away by the top 450 (0.00014%) who are sitting on $3.6Tn of our nation’s total household wealth 8% or 27M times more than the average citizen.  Wow, I guess they are better than you – better in fact than 26,999,999 of you!

As I mentioned in “The Dooh Nibor Economy (that’s “Robin Hood” backwards),” America has become a real wealth-building machine the funnels every last cent off the bottom of the pyramid and sends it straight to the top.  Those of us standing near enough to the top (the top 10%) are lucky enough to pick up enough table scraps to make us 1,000 times better than you – our bottom 90% “friends” and that is just great for walking around town but you must pity us because even we are embarrased to show up in our shoddy Armani suits when we are invited to hob-nob with the top 1% in their custom-tailored suits who don’t look at lables but at the thread-count of your sleeve. 

Even those “masters of our universe” cower in the presense of that top .00014%, who are, by definition, 26,999 times better than they are!  So don’t go thinking the people in the top 10% have it so easy – we have a whole different set of problems to deal with.  You only need to make $150,000 a year to join the top 10% club – we have to make over $2M to crack the top 1% and $2M doesn’t even pay 1/10th of the MONTHLY interest on the assets on our top 450. 

So congratulations to the Forbes winners, especially from the 450,000 of us that…
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