• OldWoodFrame@lemm.ee
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    1 year ago

    I don’t understand the methodology.

    It shows that measured in current nominal USD, total net private wealth fell by USD 11.3 trillion (–2.4%) to USD 454.4 trillion at the end of 2022. Wealth per adult also declined by USD 3,198 (–3.6%) to reach USD 84,718 per adult. Much of this decline comes from the appreciation of the US dollar against many other currencies

    Measured in current nominal USD, wealth fell, due to the value of nominal USD increasing? Shouldn’t that be a constant? I just don’t see how people get poorer based on the value of their money going up.

    And the opposite appears true too, Russia is getting “richer” while the value of Rubles has been tanking against the dollar. Is Russia being measured with an exchange rate to USD or a basket of currencies? If not I can’t imagine these numbers mean much in real terms, they would just be measuring inflation.

    Not that GDP is a perfect measure but GDP for both countries is increasing, just seems like something is messing with the numbers if you’re saying one is going up by the most and the other down.

    • ElHexo [comrade/them]@hexbear.net
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      1 year ago

      The quoted section of your post is about global wealth. In other words:

      • Wealth declined globally (measured in USD) primarily due to the appreciation of the US dollar (and a majority of held wealth is not in the US - approximately 70 percent of global wealth).

      • US wealth also declined despite appreciation of the US dollar.

  • supersolid_snake@lemmygrad.ml
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    1 year ago

    To paraphrase Parenti, they will spend a trillion of YOUR dollars to make one of their own. The only question is when will the people stop being jingoistic and unite against the imperialist/ capitalist parasites.

    They don’t even share the spoils of imperialism that well anymore with their populations.

  • 201dberg@lemmygrad.ml
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    1 year ago

    Well, the ones that make the weapons I’m sure made a pretty penny. I wouldn’t say the west lost money. They just redistributed it to more offshore bank accounts.