PARIS, Jan. 25 (EIRNS)—While our attention was fixed on the war danger, the rush into the crash appears to be competing for first place in the dangers, as these quotes from Le Monde’s correspondent in New York, Arnaud Leparmentier, reveal today. “In the United States, the Stock Market Crash Is Here” was the title of his article today. For Leparmentier, “the correction suffered by Wall Street between January 18 and 21 is only a foretaste of the shock that awaits France, still protected by the European Central Bank’s money printing press and it’s budget deficits.
“The French don’t know it yet, ...but the crash is here. Wall Street is experiencing a serious thaw and from January 18 to 21 it went through its worst week since the beginning of the pandemic. The decline no longer spares the technology stars (Apple, Amazon, Netflix...), and Nasdaq has lost over 15% since its high in November 2021. The broader S&P 500 index is down nearly 8%, with no good news in sight.
“The phenomenon should delight billionaire-bashers. According to Bloomberg, Elon Musk (Tesla) lost nearly $100 billion, his fortune falling from $338 billion in November to $243 billion on January 21. Jeff Bezos, the boss of Amazon, has ‘melted’ by 45 billion and now holds only 177 billion. For Bill Gates, the drop is 25 billion dollars (with an estimated fortune of 129 billion). Since January 1, 2022, the top ten billionaires on the planet have lost $125 billion, or 9% of their wealth, without anything changing on the planet. They had earned 402 billion in 2021.”
The stock market opens its eyes:
