this post was submitted on 19 Jan 2026
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cross-posted from : https://lemmy.zip/post/57305272

Total billionaire wealth in the EU reached €2.4 trillion by late November, exceeding Italy's entire GDP of €2.2 trillion and approaching France's €2.9 trillion economy, a new Oxfam report found.

Archived version: https://archive.is/20260118190308/https://euobserver.com/health-and-society/ara3abf5ee

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[–] Aceticon@lemmy.dbzer0.com 21 points 1 day ago* (last edited 1 day ago) (1 children)

I couldn't agree more and had exact the same experience.

In my case I was actually in the Finance Industry when the 2008 Crash happenned and seeing what was done (the state unconditional saving Asset Owners by sacrificing the rest, in constrast with the whole Free Market stuff I had been reading on The Economist for almost a decade) and their take on it, really opened my eyes to the complete total self-serving bullshit of not just The Economist but also the whole edifice of Free Market Economics (a skepticism further boosted by me actually starting to learn Economics - especially Behavioral Economics since it's the only "Mainly Science rather than Politics" part of it and my background is party in Physics - and deepening my understanding of the Finance Industry as I tried to figure out the Why and How of the Crash).

That shit is Politics hidden behind a veil of Mathematics purposelly misused in a way eerily similar to how I saw pricing for over the counter derivatives being done in Finance: designing models so that they yield the desired results under certain conditions and further controlling their output by feeding them with cherry picked inputs and then presenting the output of the models as "Mathematical proof" that things are as as you say they are, so basically circular logic with some complex Mathematics in the middle to hide their true nature as unsupported claims.

It's pretty insidious Fake Science stuff if you don't have a strong background in Science and access to the right information to pierce through it.

[–] Tryenjer@lemmy.world 4 points 1 day ago

Unfortunately, it's true.