US billionaires have gained $1 trillion since the start of the pandemic - $1 trillion would be enough to provide every American with a stimulus check of $8000

About 320 million U.S. citizens. So actually around $3,250.

However, the “gains” are just paper gains.

Imagine a couple buys a home 10 years ago for $200,000. Now their house is “worth” $350,000, as thst is the going rate in the neighborhood. On paper, they gained $150,000. If they sold it, they likely would gain that much.

The price is dependent on most homeowners not being willing to sell, so there is very limited actual supply on the market.

But suppose all the neighbors put their homes on the market. Huge supply glut!

They aren’t all going to get $350,000 for their house now. In fact, prices drop dramatically, because it is now a buyer’s market.

Same with the billionaires’ stocks. On paper, they are collectively worth an extra $1 trillion. Bu only so long as most of them don’t sell.

/r/jillstein Thread Link - twitter.com