Wake-up Call

Resist the Corporate State

Posts Tagged ‘Wealth

The Rise of American Cannibals

leave a comment »

The Economist  Nov 6th 2014

A NEW paper by Emmanuel Saez of the University of California, Berkeley, and Gabriel Zucman of the London School of Economics suggests that, in America at least, inequality in wealth is approaching record levels. The authors examine the share of total wealth held by the bottom 90% of families relative to those at the very top. In the late 1920s the bottom 90% held just 16% of America’s wealth—considerably less than that held by the top 0.1%, which controlled a quarter of total wealth just before the crash of 1929. From the beginning of the Depression until well after the end of the second world war, the middle class’s share of total wealth rose steadily, thanks to collapsing wealth among richer households, broader equity ownership, middle-class income growth and rising rates of home-ownership. From the early 1980s, however, these trends have reversed. The top 0.1% (consisting of 160,000 families worth $73m on average) hold 22% of America’s wealth, just shy of the 1929 peak—and almost the same share as the bottom 90% of the population.

Read the full article here

Advertisements

Wealth Inequality in America: perception and reality

leave a comment »

Infographics on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is.

References:
http://www.motherjones.com/politics/2…
http://danariely.com/2010/09/30/wealt…
http://thinkprogress.org/economy/2011…
http://money.cnn.com/2012/04/19/news/…

Written by laudyms

April 28, 2014 at 1:37 pm

Globalization and Debt: a return to slavery?

leave a comment »

 Taibbi: “Orwellian” SEC May Have Been Hiding Big Wall Street Crimes
By Sarah Seltzer | AlterNet

 

Shock Doctrine in Practice: The Connection Between Nighttime Robbery In the Streets and Daytime Robbery By Elites

By Naomi Klein / The Nation   When you rob people of what little they have, in order to protect the interests of those who have more than anyone deserves, you should expect resistance.

 

Debt: The First Five Thousand Years

By David Graeber

Anthropologist David Graeber argues that it is only with a general historical understanding of debt and its relationship to violence that we can begin to appreciate our emerging epoch. Here he begins to fill in our historical knowledge gap

 

Americans Don’t Realize Just How Badly We’re Getting Screwed by the Top 0.1 Percent Hoarding the Country’s Wealth

By David DeGraw | Amped Status

 


Written by laudyms

August 18, 2011 at 9:56 am

Income Gap More Like an Abyss

with 2 comments

Evidently most Americans- including the quite wealthy and the working poor-  consider themselves “middle class”

Income Gap More Like an Abyss    www.ourfuture.org

Income gap widest on record. AP: “The top-earning 20 percent of Americans – those making more than $100,000 each year – received 49.4 percent of all income generated in the U.S., compared with the 3.4 percent earned by those below the poverty line, according to newly released census figures. That ratio of 14.5-to-1 was an increase from 13.6 in 2008 and nearly double a low of 7.69 in 1968.”

Off The Charts’ Chuck Marr puts the income gap in even starker terms: “This great income shift means the average middle-income American family had about $9,000 less after-tax income in 2007, and an average household in the top 1 percent had $741,000 more, than they would have had if the 1979 income distribution had remained … Each year the average millionaire gets about $125,000 from the Bush tax cuts, according to the Urban-Brookings Tax Policy Center. Now seems to be a good time to say enough is enough.”

Slate’s Timothy Noah explains why the public is not more upset about the income gap: “Why aren’t the bottom 99 percent marching in the street? One possible answer is sheer ignorance … Americans’ ignorance about wealth (and, probably, income) distribution is encouraging in the sense that it offers hope that most voters might opt for government policies more conducive to equality if only they knew how unequal things were … the United States may possess a shrinking middle class, but the number of its citizens who consider themselves middle class (because they can’t face that they’re rich) may actually be growing.”

Written by laudyms

September 28, 2010 at 9:29 am

Wealth Inequality Destroys US Ideals

leave a comment »

plutocratBy Don Monkerud   July 4, 2009      Consortiumnews.com

Note: Since the national rise of Ronald Reagan three decades ago, the United States has been on a deadly course for a Republic, with wealth rapidly concentrating at the top and average Americans sinking or struggling to stay afloat.

In June 2009, the U.S. economy saw its second steepest decline in 27 years. New jobless claims increased, business inventories fell and exports plunged as bad economic news persisted.

Read the rest of this entry »

Written by laudyms

July 5, 2009 at 12:15 pm