Sunday, April 25, 2010
Everything's going to be fine posted by Richard SeymourHey guys, hey guys, it's totally awesome! The recession is, like, totally a non-issue:
THE richest people in Britain have seen a record boom in wealth over the past year. Their fortunes have soared by 30% even though much of the UK is struggling to recover from recession and the near-collapse of the banking system.
It is the largest rise in wealth since the list was first published 21 years ago. Much of the increase is a result of the rebound in stock markets and property values after the government injected hundreds of billions of pounds into banks and the wider economy to stave off collapse.
Philip Beresford, compiler of the list, said: “The rich have come through the recession with flying colours. The stock market is up, the hedge funds are coining it. The rich are doing very nicely.
“The rest of the country is going to have to face public spending cuts, but it has little effect on the rich because they don’t consume public services.”