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So Caron talks about the top 10% which is fine, but I think the really interesting numbers are higher in the distribution. Top: 1%: In 2004, the top 1% control
by anon114 16y ago
So Caron talks about the top 10% which is fine, but I think the really interesting numbers are higher in the distribution.
Top: 1%: In 2004, the top 1% controlled 50.3% of the financial assets while the bottom 90% only held 14.4% of the total US financial assets.
([6] at http://en.wikipedia.org/wiki/Wealth_in_the_United_States http://en.wikipedia.org/wiki/Wealth_in_the_United_States)
The Forbes 400 would be the top 0.00013%.
They own 1.54 trillion in assets.
The US M2 Money Supply is only 8.36 Trillion dollars.
It's also been suggested that the general population are optimists about this situation.
http://www.theatlantic.com/national/archive/2010/09/more-on-the-wealthy-poor-and-a-fair-society/63582/ http://www.theatlantic.com/national/archive/2010/09/more-on-...
- yummyfajitas 16y agoYou are comparing assets to cash. The total assets in the US are about $188 Trillion, of which the Forbes 400 only own $1.54 (0.8%). http://rutledgecapital.com/2009/05/24/total-assets-of-the-us-economy-188-trillion-134xgdp/ http://rutledgecapital.com/2009/05/24/total-assets-of-the-us...