Wednesday, June 15, 2022

Rich v poor

The recent drop in the market has caused the gap between rich and poor to get smaller. As the market rose there were many stories about how the rich were getting richer but now that the bear market has set in not too many stories about how the rich are losing money. There is talk about an excess profits tax on the oil companies now that the price is over $100 per barrel but just a two years ago the price was negative and oil companies had to pay $30 per barrel for buyers to take the oil but there was no clamor to help the oil companies out.

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