And my second issue is that when it comes to personal wealth of billionaires we always caveat it with ‘it’s not real money’.
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But when it comes to measuring the success of any country’s economy, we don’t caveat it with something similar. Countries like Singapore or even US make a lot of money from financial services. The success of American economy is heavily reliant on these unrealised gains compared to China for example where I am guessing it will be a smaller proportion of the total economy.
And my second issue is that when it comes to personal wealth of billionaires we always caveat it with ‘it’s not real money’. .
But when it comes to measuring the success of any country’s economy, we don’t caveat it with something similar. Countries like Singapore or even US make a lot of money from financial services. The success of American economy is heavily reliant on these unrealised gains compared to China for example where I am guessing it will be a smaller proportion of the total economy.