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Half Of American Households Hold 1 Percent Of Wealth
invite response
2012 Jul 19, 8:19am 15,661 views 57 comments
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freak80
2012 Jul 21, 11:40am
freak80
2012 Jul 21, 11:40am
Endless end of world scares have and will continue.
Global Warming is one.
A good point, I think. Fear-mongering isn't just on the far-right.
I'm convinced AGW is real. But using scare-tactics just ticks people off...especially when there's a big cold spell or snowstorm. ;-)
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That's the real MEAT of the situation. It's not about as Rick Santelli said, the neighbor next door who got "too much house" one they "didn't deserve" due to a liar loan. That is small change problem that a big shot like Rick shouldn't even stoop for.
In the end, the result of all this is STILL that Richie Rich gets richer, and the poor get poorer.
"The share of the nation's wealth held by the less affluent half of American households dropped precipitously after the financial crisis, to 1.1 percent, according to new calculations by Congress's nonpartisan research service.
By contrast, the share of total net worth held by the weathiest 1 percent of American households continued rising, hitting 34.5 percent in 2010. The top 10 percent's share was 74.5 percent."
http://www.huffingtonpost.com/2012/07/19/households-wealth-american-1-percent_n_1687015.html