Why the Boats Got Bigger as the Rich Got Richer

Evan Osnos’s Haves and Have-Yachts explores growing wealth disparity and the subtle self-delusion embraced by the ultrarich.

There are now more than 800 USD billionaires  in the US, up from 66 in 1990, Osnos writes. Between President Donald Trump’s first and second inaugurations alone, the scale of their wealth more than doubled.

 In The Haves and Have-Yachts: Dispatches on the Ultrarich (Scribner, June 3), Osnos, a staff writer at the New Yorker, peers into these extraordinary fortunes.

https://www.bloomberg.com/news/articles/2025-05-30/-the-haves-and-have-yachts-review-how-the-ultrarich-destabilized-the-us


New York’s Wealthiest All Want to Live Downtown Now

https://englundmacro.blogspot.com/2025/05/new-yorks-wealthiest-all-want-to-live.html


Economic Data Paint a Picture of Two Americas

https://englundmacro.blogspot.com/2024/06/economic-data-paint-picture-of-two.html


 The US economy grew throughout, yet nobody found a way to redeploy the people impoverished by globalization. 

That wasn’t inevitable, and can’t be fixed by blocking off imports. 

The government might have intervened to stop inequality reaching this point, most logically with the traditional left-wing remedy of redistributive taxation. 

That’s a complete no-no in contemporary US political culture
John Authers Bloomberg 14 april 2025 
https://englundmacro.blogspot.com/2025/04/why-is-us-complaining.html


“Taming globalisation and redirecting it to meet the interests of working people has been, and still is, the defining political challenge of our era.”
Gordon Brown FT 30 October 2017
https://englundmacro.blogspot.com/2025/07/gordon-brown.html

'
Who, exactly, is buying all of this stuff? 

https://englundmacro.blogspot.com/2025/03/who-exactly-is-buying-all-of-this-stuff.html


Millions in the UK are one pay day from disaster

https://www.youtube.com/watch?v=6qm7lVRhgZg



We believed that globalization created so much prosperity around the world that the loss of jobs in places like Flint, Michigan, and High Point, North Carolina, was a small price to pay.

77 million people voted for the man who has said that “tariff is the most beautiful word in the dictionary.”

https://englundmacro.blogspot.com/2025/05/gobalizations-doubters-right-about-its.html


Vi ser nu en ny våg av skatteförändringar riktade mot förmögna individer i flera länder runt om i världen.

Just nu är Sverige ett attraktivt alternativt

https://englundmacro.blogspot.com/2025/05/sverige-ett-attraktivt-alternativt.html





Kommentarer

Skicka en kommentar

Populära inlägg i den här bloggen

Pfizer in 2019 sold $20 billion of drugs in the U.S. Its federal tax bill? Zero; Ireland

Trump has already singled out pharma companies and countries like Ireland that reap the benefits of tax-avoidance moves.  Despite its small size, Ireland ran an $87 billion trade surplus with the U.S. last year—larger than any country except China, Mexico and Vietnam. https://www.wsj.com/health/pharma/how-trumps-tariffs-could-upend-pharmas-overseas-tax-strategy-5b8ca758 Is Ireland vulnerable again as the world’s vast shadow banking system starts to crack? Shadow banking is the dog that has not barked during the latest global spasm of financial stress. This is very fortunate, especially for small countries such as Ireland that have bet the farm on this industry. https://englundmacro.blogspot.com/2023/04/is-ireland-vulnerable-again-as-worlds.html Cayman Islands https://en.wikipedia.org/wiki/Cayman_Islands What the heck is happening in the Cayman Islands? A Sunny Place for a Shady Online Business https://englundmacro.blogspot.com/2021/12/a-sunny-place-for-shady-online-business.html Ti...
Läs mer

My blogg short index

Bild
1968 Vojne, vojne, vänsterdårarna kommer AI Artificial intelligence https://englundmacro.blogspot.com/2025/06/ai-artificial-intelligence.html Akvedukten vid Zaghouan, Sven Otto Littorin och Niall Ferguson. Denna vackra betraktelse från 1994 har sedan dess legat i mitt bakhuvud. https://englundmacro.blogspot.com/2024/04/akvedukten-vid-zaghouan-sven-otto.html Alistair Darling, Northern Rock och Royal Bank of Scotland https://englundmacro.blogspot.com/2025/07/alistair-darling.html Bank stress tests https://englundmacro.blogspot.com/2025/06/bank-stress-tests.html Bessent https://englundmacro.blogspot.com/2025/06/bessent.html Gordon Brown https://englundmacro.blogspot.com/2025/07/gordon-brown_5.html Buy the dip https://englundmacro.blogspot.com/2025/07/buy-dip.html Fastighetsbolagen https://englundmacro.blogspot.com/2025/07/fastighetsbolagen.html Tomas Fischer https://englundmacro.blogspot.com/2025/07/tomas-fischer.html James Grant https://englundmacro.blogspot.com/2025/07/james-grant.h...
Läs mer

Things might be different this time; mitt senaste storverk

Bild
The breakdown of monetarism During the past decade, the links between economic activity, inflation, and monetary policy that were taken for granted in the 1980s and 1990s have completely broken down.  The pre-crisis dogma that inflation “is always and everywhere a monetary phenomenon” has turned out to be nonsense, at least for advanced economies, where central banks have printed money like wallpaper without any inflationary response. Anatole Kaletsky Project Syndicate 23 April 2019 https://englundmacro.blogspot.com/2019/05/equity-prices-bond-prices-qand.html Detta är den grundläggande tanken för det som följer: Det fördes länge en debatt om vilket M som skulle vara bäst för att förutse framtiden. Själv har jag tänkt mig att hushåll och företag har en skattkista där överst finns kassa och bank, längre ner värdepapper, belåningsmöjligheter och fastigheter och längst ner "The Family Silver". https://englundmacro.blogspot.com/2025/01/vad-ar-pengar-m1-m2-m3-osv-monetary.html So, ...
Läs mer