View Full Version : Recession proof jobs and Business
Melonie
11-18-2010, 02:23 AM
^^^ the 'stealth' factor some are using to reach the conclusion that the uber-rich are gaining in 'wealth' is in fact real estate prices. Historically speaking, the major store of 'wealth' for the middle class and working class has been the equity in their homes ... which has obviously been severely reduced as a result of falling real estate prices. On the other hand, the top few percent have a significant store of their own 'wealth' in stocks, bonds etc. which are rising in price as a result of stimulus / bailouts / money printing. So from this point of view, the last year has been the most rapid 'redistribution' period in history !
threlayer
11-18-2010, 08:56 PM
Average wealth did not increase in the last administration, but the wealth distribution surely did change deastically. The rich got a lot richer while the numerous middle class lost ground. And this all happened before the quasi-depression we are in now. Since that wealth was in the form of paper, and that paper has diminished;everyone has lost out. I certainly do not have the wealth distribution based on that oss.
Previously I stated illustrative numbers, not actual distribution, and indicated such. I have heard results of analyses leading the actual estimates, and I am not all that far off in the ratio of change of the uber-rich during the Bush Jr era.
jester214
11-18-2010, 10:49 PM
^The top 20% still control about 80% of the wealth with the top 1% controlling about 40% of it themselves... It's been around those numbers for the last 20 years if not longer.
threlayer
12-10-2010, 10:12 AM
You are correct. I should have applied that to incomes.