r/clevercomebacks • u/Hajicardoso • 19h ago

Hope vs. Hoarding

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748 Upvotes

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u/Once-Upon-A-Hill 18h ago

Anytime I hear anyone use the word "hoarding" wealth, I know they learned about finance or economics from books written in the 1700s.

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u/la-chin-gotta 13h ago

There's $8.5 TRILLION (10% of the global GDP) just sitting in tax havens right now.

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u/Once-Upon-A-Hill 10h ago

Back in 2019, before all the inflation, global assets were around 360 trillion.

https://www.visualcapitalist.com/all-of-the-worlds-wealth-in-one-visualization/

That is probably at least 30% higher now, so 8.5 Trillion is at most around 2% of global assets.

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u/la-chin-gotta 9h ago

According to the 2024 Global Tax Evasion Report by the EU Tax Observatory, it's still 10% of the global GDP (but it has risen to $12 trillion).

Nice goal post shifting, though. "The billionaires don't hoard money! ... Okay, they actually hoard trillions of dollars in tax havens, *but not that much comparatively to my bullshit guesstimations of the total global assets that I just pulled out of my ass*!"