Over to you, @nntaleb
Turnover at the top of productive Western hierarchieshttps://twitter.com/HumanProgress/status/1018279483042910210 …
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That might be a result of people having success and then over leveraging (gambling) and ultimately losing everything. Then only the casinos (banks) wins.
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But then when the banks over leverage themselves and default then the government (tax payers) bail them out. There should be consistent rules for all parties that “bet the house”.
End of conversation
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The top 1% of the top 1% doesn't turn over much..
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But muh Marxist narrative!
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dope we get to have money for a WHOLE YEAR
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I have been in the top 10% which is 118k/yr,(the top 1% is $1.6M/yr) 118k/yr is an easy bracket to fall out of.
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all in modern Western
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