Posted on 02/14/2022 8:55:55 PM PST by SeekAndFind
The percentage of wealth owned by the top 1% keeps rising over time. Who's to credit or blame?
Data Source: Board of Governors of the Federal Reserve System (Fed), Chart by Mish
This data series compiled by the Fed started in the third quarter of 1989. The most recent data is from the third quarter of 2021.
If you have not seen charts of this series before, the numbers may seem shocking.
Top 1% Then 23.6%, Now 32.1%
90th to 99th Percentile Then 37.3%, Now 37.5%
50th to 90th Percentile Then 35.6%, Now 27.9%
Bottom 50% Then 3.7%, Now 2.5%
Top 1%: +8.5 Percentage Points
90th to 99th Percentile: +0.2 Percentage Points
50th to 90th Percentile: -7.7 Percentage Points
Bottom 50%: -1.2 Percentage Points
The bottom never had much to lose but they managed to lose a bit anyway.
The top keep padding their wealth but remain the most impacted by recessions.
The middle class is shrinking.
Many people will blame the wealthy. But the actual culprit is the Fed.
The bottom 50% sure don't gain from bubbles.
Those with assets are the beneficiaries. And when the Fed steps on the gas, look at the far right of the chart to see what happens.
Inflation benefits those with first access to money and that's the banks and the already wealthy.
The poor who spend every penny and them some on food and shelter get hammered by inflation.
Meanwhile, the middle class keeps shrinking.
The Fed tried for a decade to increase inflation. The Fed even wanted to "make up" for lack of previous inflation.
But the CPI rose another 0.6% in January, at a year-over-year clip of 7.5%. The CPI is at the highest pace in 40 years.
For discussion, please see CPI Jumps Most Since February 1982, Up at Least 0.5% 9 Out of Eleven Months
The Fed finally succeeded and then some at producing inflation. Now doesn't know what to do about it.
But should the banks get in trouble again, the Fed will be right there again to bail them out just as it did in 2000 in the dotcom bust and again in the 2007-2009 housing crash.
* * *
they print money everyday, and it’s up to ME, to get as much as i need/want of it.
never been a rich man’s wealth able to stop be yet...
then again, they aren’t trying to, so i am confusion
Maybe the bottom 50% should stop voting Democrat (not that the top 1% doesn’t)
Meaningless.
“A cruise ship wastes enough food that can feed thousands of families”Al Gore”
“A cruise ship wastes enough food that can feed thousands of families” The Kenyan.
People work 50 weeks a year and have earned that right to splurge. Uneaten food spoils. Does this mean they should open a soup kitchen on the ships?
They both said nothin but it sure makes us feel guilty and them self righteous.
Sounds like a normal stratification of wealth in a society. It doesn’t sound like a problem.
God helps those who help themselves-read it somewhere.
The government helps those who can’t. Read it at a federal office.
A small percentage will fall into that(can’t)category. A smaller percentage will make a good living pointing out these differences. They live in gated communities.
As I remember 85% had medical insurance before Obamacare. Those 85% percent were happy with their insurance. What is it now?
The “wealthy people” always have, and always will
control everything.
Since the beginning of time.
Pharaohs, kings, and emperors...
Do you think Warren Buffet or Bill Gates care about
the cost of gasoline or chicken?
How is the current money breakdown any different from England prior to the colonies?
The goal fo tptb is to shrink the middle class and have everyone drop 1-2 levels, while the elite striving to remain in the top 1%.
These days most of the rich did not get rich from doing something to truly earn it. A good lot of them just figured out how to manipulate other peoples money.
They get us fighting a culture war so we won’t fight a class war
This is one way to look at things.
But, there is another way which I think is much more fair. What is the total wealth of a rich family and what is the total wealth of a poor family?
Since the total wealth of the country grows faster than population, the poor are gaining absolute wealth even if they are not gaining relative to the rich.
Compare out bottom 5-25% with the bottom 5-25% in Africa, Asia, South America, or even Europe. Where would you rather be?
There are lots of poor people voting with their feet at our southern border to join the US. It is far better to be poor here than anywhere else.
In a socialist economy, how much does the bottom 99% own?
Let them eat cake. It is a problem, we will become Brazil soon enough.
A lot of that wealth is just valuation. It’s theoretical wealth. It doesn’t actually exist.
The middle class is shrinking.
Has anyone in the history of the universe who states this as an unquestionable Truth ever stated what their definition of the middle class is including income range at the beginning and end of the period and number of people in that range?
Algore and Obama have taken private jets for decades and lived in massive houses consuming tons of energy. Their carbon footprints alone are tens of thousands of times bigger than the average persons’.
Actually in Real (real) Estate it does. It’s “hard copy” if you will , but the value can does fluctuate according to the buyer.
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