Sometimes The Rich Get Poorer
One of the most well known cliches of class warfare if 'the rich get richer and the poor get poorer". Well in fact poor people often become richer and sometimes even rich people become poorer. Case in point: Brazilian Mogul Eike Batista who fabulous wealth and opulence has been covered by the financial press the world over. He was once ranked on Forbes billionaires list as the worlds seventh richest man with an estimated net worth of $30 billion! His supermodel trophy wife and the Mercedes McClaren parked in his living room underscored his flashy lifestyle. Mr. Batista's troubles began when his oil company OGX failed to deliver on 10 billion barrels of oil it had promised; subsequently collapsing the shares of his six public companies more than 90%. The Wall St. journal calls this the largest and swiftest financial implosion in modern times. A massive loss of wealth isn't unheard of and is actually quite common-even if not on this scale. The left has created the ...