How does this math make any sense?
[W]hile the U.S. economy slows — if not enters a recession — the demand for these toys for the ultrarich has never been stronger. Several luxury shipyards have seen sales double in the last five years. The rich are not just buying more yachts, but larger and larger ones.
You can never stock up on enough yachts to prepare for the inevitable crash, I guess.
Seriously, this bit of evidence fuels the growing sense among the middle class that we’re getting hosed. Where this leads, however, is even greater power in the hands of oligarchs as we vote for political candidates who promise a government that will put and end to such injustices.
That never works. The ultra-rich play — or pay for — the tune to which our government officials dance.
Put another way, the yacht-buyers are the board of directors of USA, Inc. and our government officials are middle management. You and me? Stock clerks.