How well do you think the American economy is doing? I see good things happening. More people working. Less people unemployed. Are we doing ok? Great?
Yea we are doing great! That is if you are rich. If you are not rich the economy sucks eggs. The top 0.1 percent of Americans the 160,000 families with net assets in excess of $20 million in 2012 now hold 22 percent of the nations wealth, up from 7 percent in 1978. That monopolization of a large share of national wealth by an elite few hasnt been seen since the late 1920s. The bottom 90 percent, by contrast, saw their wealth share fall from 35 percent in the mid-1980s to about 23 percent in 2012, the paper said. It was about 20 percent in the 1920s.