83 percent of all U.S. stocks are in the hands of 1 percent of the people. Read more: http://www.businessinsider.com/22-s...ds-of-1-percent-of-the-people-1#ixzz0tlmsSv6y Are you a commie if you believe this is both undesirable as unsustainable? The stock market crash of 08 offered a great moment in time to balance the wealth some more but unfortunatly government interference prevented the necessary rebalancing taking place. Time will tell what happens next.
A quickie check of household income shows that you are in the top 1% of income if you make more than $250K. So who the fuck else is it you think owns stocks? A whole minute more of research shows that if you are in the top 1% of wealth you tend to be white, college educated, live in the northeast or midwest, be self-employed or retired, worth about a mil and own your own home. Disaster? Bullshit! It's the American Dream! Understand the stats before you post shit like this, socialist! The REAL pity of the numbers is that a mil ain't worth much any more. Keep you alive. But not with young pussy crawling all over you. Old pussy, maybe.
Thanks. I edited it to give the full perspective on the disaster and take out the enraged typos. BTW, I am guilty of much of the above, as may many of us here.
I'm not sure that you or the article are drawing the correct conclusions from the data. Check the 1st slide. From 1962 to 2001, the bottom 40% saw a 500% increase in wealth, the middle 20% saw a 900% increase, while the top 1% had only a 36% increase. The chart clearly shows that the top 1% had a vastly smaller increase in wealth than the other 99%.
Check the numbers, dipshit. If you took ALL of America's wealth you couldn't pay for the national debt, if in that you include all federal state municipal corporate financial union and personal unfunded/unsecured gobblegations. The only thing you and I agree about is that we are in the shitter. Do you own guns bullets and gold?
And then what? 80% of investment capital will be removed from the economy. Worse still, no one will take the risk of entrepreneurship or invest in America for a generation at least. Do you think the poorest will be better off then?
We have two illogical outcomes here. Either gold is going to a million an ounce, or a bottle of Dom Perignon is going to cost a dime. The trick is to be able to survive the advent of either regime without losing too much hedging for the other. And in either case to still be able to drink champagne.