
How the Fed Boosts the 1%: Even the Upper Middle Loses Household Wealth to 1% - Balgair
https://wolfstreet.com/2019/11/13/how-the-fed-boosts-the-1-even-the-upper-middle-class-loses-share-of-household-wealth-to-the-1-the-bottom-half-gets-screwed/
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maerF0x0
> Everyone knows that if you’re in the bottom 50% of households in terms of
> wealth in this country, you’re essentially screwed.

This kind of relative comparison has never made sense to me. So if the bottom
50% means 500 sq ft per person, 3k calories, a car, health care, pension et
al, then you're still "screwed" because others have 1k sq ft, 5k calories, 2
cars, luxurious health+pension?

> The wealth of the bottom half of households has ticked up by $1.4 trillion
> to $2 trillion, a tiny fraction of the wealth of the 1%.

So the bottom 50% now has 333% more wealth than they did 10 yrs ago?

This article is only concerned with people getting a bigger _share_ of the
pie, not if the pie is growing for all.

edit: corrected "bottom 1%" => "bottom 50%" typo

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sieabahlpark
People just want more free stuff generally. Work less for more, yes some
people got a leg up but it doesn't automatically grant you their wealth,
someone had to earn that money at some point.

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j7ake
This analysis needs to take into account total wealth growth rather than
fraction of wealth.

