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“Wealth Effect” = Widening Wealth Inequality

Authored by Charles Hugh Smith via OfTwoMinds blog, Note that widening wealth and income inequality is a non-partisan trend. One of the core goals of the Federal Reserve's monetary policies of the past 9 years is to generate the "wealth effect": by pushing the valuations of stocks and bonds higher, American households will feel wealthier, […]


The ‘Pecking Order’ In A World Of Hollow Freedoms

Authored by Ben Hunt via Epsilon Theory blog, "If we can agree that trickle down is just a ruse invented to trick the gullible, we should also agree that any and all QE is robbery in plain daylight." Out of all the animals we keep on our “farm”, chickens are the only ones that bring […]


Mauldin: A Generational Reset Redistributing Wealth To The Bottom 60% Is Near

Authored by John Mauldin via MauldinEconomics.com, Billionaire founder of top hedge fund Bridgewater Associates Ray Dalio got where he is by having keen insight into both human nature and economic trends. Occasionally, he shares some of his wisdom publicly. In one of his recent articles, Dalio argues that it is a serious mistake to think […]


Mauldin: The Distribution Of Pain

Authored by John Mauldin via MauldinEconomics.com, When you write about economics, you learn very quickly that the economy doesn’t care what you say about it. The forces that drive it are beyond any one person’s comprehension, much less control. But at the same time, the economy doesn’t work like a law of nature. Unlike gravity, […]


Three Americans Now Own More Wealth Than Bottom Half of US Combined: Report

Authored by Jake Johnson via TheAntiMedia.org, “The elite ranks of our billionaire class continue to pull apart from the rest of us,” a new Institute for Policy study analysis finds. In the United States, the 400 richest individuals now own more wealth than the bottom 64 percent of the population and the three richest own […]


The Fading Scent Of The American Dream

Authored by Charles Hugh Smith via OfTwo Minds blog, The theme this week is The Rot Within. It's been 10 years since I devoted a week to the theme of The Rot Within (September 17, 2007). Back in 2007, I listed 16 systemic sources of rot in our society, politics and economy; none have been […]


The ‘Koyaanisqatsi’ Economy

Authored by Raul Ilargi Meijer via The Automatic Earth blog, The film Koyaanisqatsi was released in 1982. The title means ‘life out of balance’ in the language of the Hopi, a Native American tribe who live(d) mainly in what is now north-east Arizona. It is directed by Godfrey Reggio with music by Philip Glass and […]


This Chart Defines The 21st Century Economy

Authored by Charles Hugh Smith via OfTwoMinds blog, There is nothing inevitable about such vast, fast-rising income-wealth inequality; it is the only possible output of our financial and pay-to-play political system. One chart defines the 21st century economy and thus its socio-political system: the chart of soaring wealth/income inequality. This chart doesn't show a modest […]


Fed Stunner: Top 1% Of Americans Are 70% Wealthier Than The Bottom 90%

Today, the Federal Reserve released its triennial Survey of Consumer Finances (SCF) which collects information about family incomes, net worth, balance sheet components, credit use, and other financial outcomes.  A superficial flip through the first few pages of the 2016 SCF as most will do, reveals “broad-based gains in income and net worth since the […]


Visualizing America’s Rampant Racial Wealth Inequality

Even though the United States is on course to become "majority minority" by 2044, Statista's Niall McCarthy notes that the country still has a huge and growing racial wealth gap. A new study by Prosperity Now and the Institute for Policy Studies has found that white households in the middle-income quintile own nearly eight times as much […]