Lower Economic Classes Aren’t The Only Ones

Lower economic classes in The United States are not the only ones who are hurt by inflation and by bad political decisions at high levels.

I know the poor or nearly poor, the lower middle class, the middle class and the upper middle classes suffer a lot more in hard times than the wealthy class does but this is not to say that the rich do not  have their own problems in difficult economic times as well.

For example:

A certain billionaire came home from a meeting with his financial planners at a skyscraper in the middle of a large city in Midwestern United States this morning and the billionaire was not feeling as cocky coming home from the meeting as he was before he went into it.

Today was the day the poor unfortunate man learned that his estate, consisting of a little over One Billion dollars, had shrunk by a little over $One Hundred,Thirty-Nine million dollars, putting him into the area of Nine Hundred Million dollars for the first time in a decade.

This was surprising to our former billionaire, now reduced to millionaire status once again.  He had watched his fortunes soar into the heavens at the beginning of the covid 19 pandemic.  But as 2022 started, there was a huge sell off in Tech stocks resulting in a crushing drop in the fortunes of several of the world’s riches people.  This had a spinoff effect to even the poorest of the billionaires, of which our friend, was one.

There is an upside to all this.

Our poor, unfortunate millionaire … who was a billionaire just a few short weeks ago …. is not too worried about having to substitute hamburger for his morning steak with eggs routine — even though that is exactly what he decided to do.

But he does wish the government could do a better job of protecting people’s only ways of earning a living.

6 thoughts on “Lower Economic Classes Aren’t The Only Ones

  1. Just how did this billionaire make his cash? I still do not feel sorry for someone that still has $800 million….when he gets down to $50K have him give me a call and I will share some of my get quick schemes. chuq

    • I think it began with a $5,000 seed investment with a financial planner and went on to include acquisition of certain real estate parcels and a few financially distressed firms which were purchased, sold off in sections (Arbitraged) … etc., etc. — Finance and Investments would probably encapsulate how it all went down …I do know it started sometime in the late 60s … failed once and was restarted in 1977 and grew from there. But I cannot be for sure if that is all that was included or not. I will try to forward your message to him. He is pretty reclusive. LOL (If I can remember who he really is .. that is …)

  2. I get the irony, John. However, the day I feel sorry for a billionaire I wil likely be in a mental hospital. 🙂
    Best wishes, Pete.

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