Magnificent 7 profits now exceed almost every country in the world. Should we be worried?

[bucolic_frolic]

https://www.cnbc.com/2024/02/19/magnificent-7-profits-now-exceed-almost-every-country-in-the-world-should-we-be-worried.html

The so-called “Magnificent 7” now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research.

The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths — Apple
, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla

— outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined.

Deutsche Bank analysts highlighted that the Magnificent 7′s combined market cap alone would make it the second-largest country stock exchange in the world, double that of Japan in fourth. Microsoft and Apple, individually, have similar market caps to all combined listed companies in each of France, Saudi Arabia and the U.K, they added.

However, this level of concentration has led some analysts to voice concerns over related risks in the U.S. and global stock market.

[Voltaire2]

1. Capitalism periodically enters a monopolistic crisis.

We are in the midst of another one. The last one culminated in the 30 years of war from 1914-1945, the Great Depression, the Russian Revolution, the Chinese Revolution, and the collapse of Great Britain as the global economic and military hegemony.

[justaprogressive]

2. Rollerball precursor

[wolfie001]

3. Their focus now is on destroying........

.........the US department of Labor. Hopefully these oligarchs will ultimately fail but their persistence.