We hear a lot lately about the US billionaires increasing their wealth by more than $1 trillion over the past year, as Covid precipitated the most severe recession since the 1930s of the real economy over the past year--from the spring quarter of 2020 last year through the spring quarter 2021. Over the same period, however, US stock markets surged to record levels. This past week in early August they attained record breaking levels nearly every consecutive day. More
This content originally appeared on CounterPunch.org and was authored by Jack Rasmus.