The richest 10% of households now represent 70% of all U.S. wealth
Source: Marketwatch 
The rich are getting richer. It is a refrain that has certainly been uttered before, and likely will again, as Deutsche Bank’s chief economist points out that the gap between the haves and have-nots in the U.S. is, indeed, widening.
Deutsche Bank’s Torsten Sløk says that the distribution of household wealth in America has become even more disproportionate over the past decade, with the richest 10% of U.S. households representing 70% of all U.S. wealth in 2018, compared with 60% in 1989, according to a recent study by researchers at the Federal Reserve.
The study finds that the share of wealth among the richest 1% increased to 32% from 23% over the same period, the study found.
To make a finer point, Fed researchers say the increase in wealth among the top 10% is largely a result of that cohort obtaining a larger concentration of assets: “The share of assets held by the top 10% of the wealth distribution rose from 55% to 64% since 1989, with asset shares increasing the most for the top 1% of households. These increases were mirrored by decreases for households in the 50-90th percentiles of the wealth distribution,” Fed researchers said.
Read more: https://www.marketwatch.com/story/the-richest-10-of-households-now-represent-70-of-all-us-wealth-2019-05-24?mod=mw_latestnews
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= new reply since forum marked as read
We have Ronald Reagan to thank & blame for this.
and everyone else, including poor republicans, are losing.
And yet, they support the GOP goons.
No more hard work! No more tiresome job searches! No more years spent learning how to do anything! Leave all that to the poor schmucks! Just inherit a fortune and "own" stuff to keep getting richer and richer and richer while you sail around the Bahamas sipping fruity liqueurs in your new, bigger yacht! The Republican Dream!
(Offer does not apply to non-silver spooners who should not quit their day jobs.)
