Many super rich individuals have spoken up about problems in the global economy. Johann Rupert, the owner of Cartier Jewelry and Chloe fashion worth approximately $7.5 billion (according to Bloomberg), is merely one of the many who have warned about the very same economic crises we here at TDV write about daily.
‘We cannot have 0.1 percent of 0.1 percent taking all the spoils,’ said Rupert. ‘It’s unfair and it is not sustainable.’
This is in particularly true when the reason why this small clique of individuals accrues wealth is thanks to cronyism with government.
He believes that advances in technology will lead to mass unemployment. According to Rupert, selling luxury goods will even become a problem as the rich will wish to conceal their wealth.
‘How is society going to cope with structural unemployment and the envy, hatred and the social warfare?’ he asked. ‘We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.’
This post was published at Dollar Vigilante on JUNE 9, 2015.
Recent Comments