Thursday, February 25, 2010

The Rich get Richer, while the Poor get Poorer

We've all heard the saying, "The rich get richer and the poor get poor," but this graph lays it out in a way that both shocking and disturbing. In the 1960s, bottom 90% of the population controlled over 65% of the wealth in America. Now, the bottom 90% (the common folks) control less than 15%. What's even more stunning is the fact that the top 1% controls over 65% of the wealth. This economic disparity resembles the situation had during the 1920s and we all know how well that turned out.

1 comment:

  1. Debt will do that. It did the same in Argentina. Inflation will come to transfer wealth from the creditor to the debtor so that people who saved their money will get cheated again as they did in the 70s. Unfortunately, the rampant spending that drives the debt and subsequently the spending is getting worse. This will most likely lead to hyperinflation when we all get cheated.