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Re: 25 richest hedge Fund Managers Average $464 million each
None of the gains are from productivity. It was created by inflation driven up by low interest rates leading to wild asset inflation. Fund managers were not brilliant, they rather destroyed the industrial base in pursuit of profit. No real wealth was generated over the past 2 decades. It was inflation and a massive transfer of wealth from the working class to the few hedge fund managers and FIRE economy participants through this asset inflation. This is why there is such anger as millions of Americans finally wake from their slumber and come to this simple epiphany.
Actors and sports figure are also overpaid. This is the indirect effect of inflation and the FIRE economy. However to compare 464 million to the top paid celebrity making 20 million a year is disingenuous.
None of the gains are from productivity. It was created by inflation driven up by low interest rates leading to wild asset inflation. Fund managers were not brilliant, they rather destroyed the industrial base in pursuit of profit. No real wealth was generated over the past 2 decades. It was inflation and a massive transfer of wealth from the working class to the few hedge fund managers and FIRE economy participants through this asset inflation. This is why there is such anger as millions of Americans finally wake from their slumber and come to this simple epiphany.
Actors and sports figure are also overpaid. This is the indirect effect of inflation and the FIRE economy. However to compare 464 million to the top paid celebrity making 20 million a year is disingenuous.
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