Distribution of Household Wealth in the U.S. since 1989
federalreserve.govWTH happened to bottom 50 during 2010? Went to basically zero
Presumably that post GFC wipeout but still seems rather dramatic
As someone who had to shoplift food during the era if I wanted to eat, jobs were scarce and the meager savings that everyone in my financial situation had were quickly wiped out.
In 27 years
The top 1% went from holding 22.8% of wealth to holding 31.6%
The bottom 50% went from holding 3.5% to 2.5%.
In simpler language:
The top 0.1% increased their share of the total wealth by 67%.
The top 1% increased their share of the total wealth by 40%.
And the bottom 50% decreased their share of the total wealth by 30%.
Give me one good reason why I should believe these numbers at all. Are they corroborated by independent third-parties who don't have a vested interest in making things look better than they are?
Came here to say the same thing. It's a Trump-regime government body, how can we know whether the figures are real or not?