American Wealth - Top 0.1% about to overtake bottom 90%

SFC Private RallyPoint Member — Mon, 10 Nov 2014 12:40:23 -0500

This is the first time since 1929 this has happened.

Wait... there is something familiar about that year...

http://www.economist.com/blogs/graphicdetail/2014/11/daily-chart-2

Some are more equal than others

A history of American wealth inequality Source: E. Saez & G. Zucman Source: E. Saez & G. Zucman Source: E. Saez & G. Zucman Source: E. Saez & G. Zucman...

Response by MAJ Private RallyPoint Member made Nov 10 at 2014 1:41 PM

MAJ Private RallyPoint Member — Mon, 10 Nov 2014 13:41:17 -0500

SFC Private RallyPoint Member Thanks for posting--I do appreciate the use of academic/journalistic reference, so often lacking here on RallyPoint. Not sure your comparison between 1929 and 2014 is spot-on, but your point (and the article's point) about wealth disparity is well taken. Soaring consumer debt weakens the middle-class, and the super-rich are super-rich without "building businesses" or anything concrete (ie, Zuckerberg and Paris Hilton, as referenced in the article, and bit unfair to both, as what these two have built, besides fortune, could arguably be seen as concrete).