for those lazy bums https://www.businessinsider.in/policy/economy/news/russia-got-richer-even-as-the-war-in-ukraine-raged-on-last-year-while-the-west-shed-trillions-of-dollars-of-wealth/articleshow/102770925.cms
I don't understand the methodology.
It shows that measured in current nominal USD, total net private wealth fell by USD 11.3 trillion (–2.4%) to USD 454.4 trillion at the end of 2022. Wealth per adult also declined by USD 3,198 (–3.6%) to reach USD 84,718 per adult. Much of this decline comes from the appreciation of the US dollar against many other currencies
Measured in current nominal USD, wealth fell, due to the value of nominal USD increasing? Shouldn't that be a constant? I just don't see how people get poorer based on the value of their money going up.
And the opposite appears true too, Russia is getting "richer" while the value of Rubles has been tanking against the dollar. Is Russia being measured with an exchange rate to USD or a basket of currencies? If not I can't imagine these numbers mean much in real terms, they would just be measuring inflation.
Not that GDP is a perfect measure but GDP for both countries is increasing, just seems like something is messing with the numbers if you're saying one is going up by the most and the other down.
The quoted section of your post is about global wealth. In other words:
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Wealth declined globally (measured in USD) primarily due to the appreciation of the US dollar (and a majority of held wealth is not in the US - approximately 70 percent of global wealth).
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US wealth also declined despite appreciation of the US dollar.
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They still trade with a lot of countries outside of the west. China and India alone might be enough to explain it.
Turns out "the international community" isn't just western europe, north america and australia/japan/south korea
The west is still buying Russian stuff via proxy. It only makes it more expensive.
right? isn't a bunch of oil we buy from india actually russian? they just sell it to us thru their whatever oil companies.
Turns out "the international community" isn't just western europe, north america and australia/japan/south korea
Well, yeah. I was also wondering why the sudden increase though, but I haven’t seen a chart, or anything.
Also, the Saudis have reduced production, which keeps the oil prices up
if OP had posted a link instead of a screen shot, we could have just clicked it to find out. i don't understand why posters go to the trouble to frustrate their readers this way.
the numbers talked about are Wild:
But the US lost more wealth than any other country last year, shedding $5.9 trillion, while North America and Europe combined got $10.9 trillion poorer, UBS reported.
money is fake as fuck
why can't you people just google with that headline ? Too lazy to act ?
You’re really still using Google?
https://mastodon.social/@rodhilton/110894818243613681
But what's the reason for posting a screenshot instead of a link? Lots of people are doing it. It must be more effort for you than posting a link.
That and recovering Russian assets on the cheap while western firms were bailing out I'd wager.
To paraphrase Parenti, they will spend a trillion of YOUR dollars to make one of their own. The only question is when will the people stop being jingoistic and unite against the imperialist/ capitalist parasites.
They don't even share the spoils of imperialism that well anymore with their populations.
Well, the ones that make the weapons I'm sure made a pretty penny. I wouldn't say the west lost money. They just redistributed it to more offshore bank accounts.
