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Posted on 07/15/2026 7:13:28 AM PDT by devane617
The bottom 50% of households in the U.S. own only $4.27 trillion of the nation's $174 trillion in available wealth. By contrast, the top 0.1% own $25.07 trillion, and the top 99 to 99.9% own a little under $30 trillion, according to Federal Reserve data.
With AI now supercharging the stock market, and richer families already owning the majority of those assets, that divide is only likely to widen.
Jamie Dimon, CEO of JPMorgan Chase, is well aware of this phenomenon. In fact, the man worth more than $3 billion according to Forbes says he understands why people are "anti-rich." Speaking to Axios, Dimon said the "anti-rich thing has been around for a long time."
In his role as CEO of the largest bank in the U.S., Dimon rubs shoulders with some of the wealthiest people on the planet. But he also works for the bank's customers who have more standard levels of income.
(Excerpt) Read more at yahoo.com ...
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A rising tide lifts all boats. Give it time.
Stop importing poverty.
People need to get acquainted with the 10th Commandment.
Thank you.
“A rising tide lifts all boats. Give it time.”
This seems to be the message of the times. To recover the progress I made during my work life will take longer than I have left on the planet.
A major cause is the importing of cheap labor. Get rid of all H1B’s and other immigration programs that allow them to come here and work. We ceased all immigration years back for a number of years and need to do so again. Put Americans back to work and for those that want to be lay they can starve.
Yeah, the human race has been around a long time; human nature hasn't changed a whit since Cain slew Abel in a fit of jealous rage.
Dimon is an idiot for playing into this defensive posture on wealth creation. He will never get credit for saying what he is saying - they will always hate him. He needs to make the positive argument that won the day in the 1980s. He should remember what Margaret Thatcher said that won everyone over and let her - the expert - make the case -
"What the honorable gentleman is saying is that he’d rather the poor were poorer provided the rich were less rich. That way you will never create the wealth for better social services as we have. And what a policy. Yes. He would rather have the poor poorer provided the rich were less rich."
Everyone makes the decisions which set the direction for their life.
You decide you don’t want to work?
That is YOUR decision.
I use to be middle class, but now lumped in with the folks that do not have vs those that have much. The “K” economy is getting worse and like it or not we’re headed in the wrong direction. Any idea how it is corrected?
Socialism and the rise of the welfare state has been a disaster for America and for Americans.
Socialism kills initiative and upward mobility because assets are direct to idle and often lazy people which drains assets for the productive and destroys upward mobility, personal growth and growth in assets and investment.
Do this long enough and you get exactly what we are seeing in America these days.
The lack of having to deal with reality and produce every day for people in socialism even warps the psychology of people themselves and makes them susceptible to believing in ridiculous and counter productive world views which is another thing we are seeing rise in our society
“The bottom 50% of households in the U.S. own only $4.27 trillion of the nation’s $174 trillion in available wealth. By contrast, the top 0.1% own $25.07 trillion, and the top 99 to 99.9% own a little under $30 trillion, according to Federal Reserve data.”
Am I missing the math here? Shouldn’t the top 99% own $172.2 trillion?
BUT, those who game the system, playing legal games, donating tax-exempt money to NGOs to launder the cash to fund regulatory activities to break their competitors in business, those who game the system with their money to stay rich. I have a real problem with those people, and most of them INHERITED the money from those great entrepreneurs.
It's the tax-exempt "charitable" foundations and all the leftist NGOs playing in the Federal Courts with complicit government agencies concentrating ever more power and wealth, while destroying the wealth producing basis for our economy and the middle-class jobs that go with those smaller businesses, that is a real structural problem in our country. The fix needs to start with putting people in jail for tax evasion and racketeering and their lawyers with them. If we need statutory means so be it.
This has been a huge problem for many decades, the Reece Commission being the classic Congressional investigation back in the 1950s. That effort was compiled into an important book by Rene Wormser that is still in print.
“A rising tide lifts all boats. “
But it may swamp or beach some of them.
“You decide you don’t want to work?
That is YOUR decision.”
... or save for one’s retirement.
I believe that last time this kind of thing happened it resulted in the Great Depression but it did not solve the problem of insatiable greed.
The facts are inescapable, the top of business and society are taking a larger share of the benefits of work while the rest are getting less and less and less. The decision to lean toward the dole instead of working for menial pay has got to be getting easier and easier for workers. Our system is broken. Broken very badly. Instead of seeing increasing wages as increasing cost across the board the change needs to be mad by reallocation of profit moving some of it from the board rooms, stock exchanges and dividends to the workers and not just continuing to pass it along to the consumer.
Some people will undoubtedly cry socialism. Too bad, they need to think about that reaction much harder. There has never been a time in modern history with so much wealth stacked in the hands of so few while so many only have the choice to just quit and suffer the consequence, or rather for society to suffer the consequence, or to suffer the grinding decline of work and poor wages.
STOP IMPORTING POVERTY IS ONLY PART OF IT ALL. BUT IT IS A VERY HIGH PART OF IT.
STOP PASSING KIDS FROM GRADE TO HIGHER GRADE WHEN THEY ARE NOT DOING THE CORRECT WORK
STOP HIRING TEACHERS WHO CANNOT TEACH
STOP PRETENDING THAT IT IS OK TO GIVE A HS “DIPLOMA” TO A PERSON WHO CANNOT READ-—WRITE-—SPELL OR DO SIMPLE MATH.
THEY ARE USELESS TO SOCIETY & WILL ONLY MAKE THINGS WORSE AS THEY “MATURE”.
PUT SERIOUS PUNISHMENTS ON ANYONE WHO BREAKS THE LAW-—WHETHER 77 OR 7.
THE FEWER STANDARDS THAT ARE APPLIED ONLY WATERS DOWN ANY FUTURE STANDARDS.
STOP ALLOWING KIDS TO HIDE BEHIND THEIR AGE WHEN THEY ARE CHOOSING TO BE CRIMINALS
WAKE UP, AMERICA !!!!!!!
NPR
What is a K-shaped economy?
take a second and imagine in your head the letter K and, you know, the two arms sticking out of it on the right.
The one arm shooting up, that represents Americans doing well. These are people who are heavily invested in the stock market. And we know the stock market is doing great right now, setting records.
The other arm in the K, shooting down, that is everyone else. They are not doing nearly as well.
Now, in reality, that line is not actually plummeting. Most Americans are seeing their wages rise faster than inflation, but it’s not by much, and the gap between them and the top earners is widening, making people feel like they’re losing ground.
https://www.npr.org/2025/12/31/nx-s1-5660842/what-is-a-k-shaped-economy
In Catholic history there are examples of many wealthy people who for whatever reason gave their fortunes away to the poor and then led different lives detached from wealth. St. Francis and Becket being classic examples. If Jamie Dimond feels guilt or his personal wealth is an unfair burden or privlidge, he is free to follow this example.
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