Custom Search

Sunday, January 11, 2009

Deflation: Billionaire Blowups of 2008

In the beginning of a deflationary spiral massive amounts of both debt and wealth are visibly and publicly destroyed. This is what that part of the process looks like:

Billionaire Blowups of 2008: “Dozens of the world's wealthiest lost billions in recent months, but these 10 distinguish themselves for some of the biggest flops.

It was a dreadful year for the world's wealthiest as markets and currencies around the world tumbled.

More than 300 of the 1,125 billionaires we tallied on our annual list last March have since lost at least $1 billion; several dozen lost more than $5 billion. The 10 richest from our 2008 rankings dropped some $150 billion of wealth, dragged down by steel tycoon Lakshmi Mittal, estranged brothers Mukesh and Anil Ambani and property baron K.P. Singh, who together dropped $100 billion. America's 25 biggest billionaire losers of 2008 lost a combined $167 billion.

But even in such an awful year, the stories of a few billionaires and now former billionaires stand out as particularly dreadful.”

2 comments:

Susan said...

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


Susan

http://www.car-insurance-choices.com

Tempat Aborsi said...

- Obat Aborsi
- Klinik Aborsi
- Alamat Klinik Aborsi
- Obat Penggugur Kandungan
- Obat Telat Bulan
- Dokter Aborsi
- Jual Obat Aborsi Aman
- Obat Peluntur Haid