Reuters report: Super rich hold $32 trillion in offshore havens. Even if the true number is half this amount, it is still larger than the US GDP. That is huge beyond belief. Very easily and quickly this explains why the global economy is so sick.
The masses are starved of resources. Predictable government policies have allowed the savvy ones to game the system under the guise of fair market forces to legitimize their wealth accumulation. In some nations, the rich have even captured the government e.g., America.
Such wealth naturally not in cash must have been used to fuel asset bubbles instead of being put to use in industry and consumption by the masses. No wonder unemployment is a problem but the causal links are indirect and complex. This creates a fertile ground for controversy and endless debates.
If the wealthy class continues to have the means to accumulate wealth rapidly, we will at some point be staring down at revolutions. At the moment through the agency of too big to fail banks, they are using the government and monetary authorities to rob tax payers through financial repression as they need to live off high asset prices. Nobody is spared, including financially well run Singapore because we are plugged into the global system. That is why it is so incredibly hard for pay to match inflation. Bad luck for the PAP because this is impossible for the man in the street to understand. In time it would help them explain their case better if more than a few governments elsewhere are toppled alarming voters here.