Life in the Billionaire Bubble



The billionaire in question is one Paul Singer, who wrote an epic screed to his investors about the “fake” economic numbers coming out of Washington. Singer issued the following caveat:

check out London, Manhattan, Aspen and East Hampton real estate prices, as well as high-end art prices, to see what the leading edge of hyperinflation could look like

Now, it seems to me that other factors may be coming into play here. For example, when 1% of the world’s population holds as much wealth as the bottom half, you’re going to see some pressure on those Picasso price points. It’s a clash of the titans — titans with near-infinite resources to spend impressing each other to death!

When you see the price of luxury homes as a more reliable indicator of inflation than the price of milk or gas — or government data showing that inflation is under control — it says more about your limited, paranoid perspective than anything else.



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  • Benjamin Schwab

    Thankfully for Mr. Singer, we have an administration that is doing everything it can to ensure that people like him prosper. After all real median household income was 2.4% lower in 2013 then it was in 2009 but for the 95th percentile of households by income, the income was about the same. Mr. Singer’s reaction is very much due to his tenuous grasp of reality and his sense of entitlement then any actual problems that the Federal Government is giving the wealthiest amongst us. Well done.

  • josephzucc

    All you have to do is buy third-world countries debt to poor people, suit a government and get 1000 % back !

Jen Sorensen is a nationally-published political cartoonist. She is a 2017 Pulitzer Finalist and recipient of the 2014 Herblock Prize and a 2013 Robert F. Kennedy Journalism Award.

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