Home 2023 Shocking News in Finance Most People Don’t Know

Finance is one of the most essential and complex aspects of our daily lives. It is responsible for the growth and stability of economies, businesses, and individuals. However, despite its importance, there is often shocking news in finance that goes unnoticed or is swept under the rug. In this article, we will discuss some of the most mind-boggling financial facts that most people are unaware of.

  1. The Wealth Inequality Gap is Widening

One of the most shocking financial news is the growing wealth inequality gap. According to a report by Oxfam, the world’s wealthiest 1% now own more than the rest of the population combined. The report also stated that the wealth of the richest man in the world, Elon Musk, increased by $100 billion in 2023. Meanwhile, the pandemic has left millions of people struggling to make ends meet.

  1. The Stock Market is Rigged

The stock market is often perceived as a level playing field where everyone has an equal opportunity to make money. However, the reality is far from it. The stock market is rigged, and a small group of insiders have the upper hand. They have access to insider information, and they use high-frequency trading algorithms to manipulate the market. As a result, the average person struggles to make a profit while the big players make millions. According to statistics about 98% of people in the stock market lose money.

  1. The Banking System is Broken

The 2008 financial crisis exposed the flaws in the banking system. Despite the measures taken to prevent another crisis, the banking system remains broken. The big banks are still ‘too big to fail’, and their risky behavior continues to put the global economy at risk. Moreover, the low interest rates have made it difficult for people to save for their future, and the high fees have made it difficult for people to access their own money.

  1. The US National Debt is Out of Control

The US national debt has been a source of concern for decades. According to the US Treasury Department, the national debt is now over $28 trillion and growing. The government continues to spend more money than it takes in, and the debt is expected to reach $30 trillion by the end of 2022. The staggering national debt has far-reaching consequences, including a weakened economy, high inflation, and lower living standards.

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