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20 Facts About US Inequality That Everyone Should Know (With An Update On The Uber-Wealthy And Global Wealth Inequality)

Tyler Durden's picture


Courtesy of the Stanford Center for the Study of Poverty and Inequality, we bring you the "20 facts about US Inequality that Everyone Should Know". For everything one has always wanted to know about wage inequality, CEO pay, homelessness, education wage premium, gender pay gaps, occupational sex segregation, racial gaps in education, racial discrimination, child poverty, residential segregation, health insurance, inter and intragenerational income mobility, bad jobs, discouraged workers, wealth inequality, labor market deregulation, job losses, immigrants and inequality and productivity and real income, this is the definitive resource.


1. Wage Inequality

Over the last 30 years, wage
inequality in the United States has increased substantially, with the
overall level of inequality now approaching the extreme level that
prevailed prior to the Great Depression. This general characterization
of the inequality trend oversimplifies, though, the actual pattern of
change: The chart below shows that the trend at the top of the income
distribution (the “upper tail”) is not exactly the same as the trend at
the bottom of the distribution (the “lower tail”). “Lower-tail”
inequality is measured here by taking the ratio of wages at the middle
of the income distribution (i.e., the 50th percentile) to those near the
bottom of the distribution (i.e., the 10th percentile); “upper-tail”
inequality is measured by taking the ratio of wages near the top of the
distribution (i.e., the 90th percentile) to those at the middle of the
distribution (i.e., the 50th percentile of workers). We find that
lower-tail inequality rose sharply in the 1980s and contracted somewhat
thereafter, while upper-tail inequality has increased steadily since

Men's wage inequality

Fact 1 image is missing

Economic Policy Institute. 2011. “Upper Tail” inequality growing
steadily: Men's wage inequality, 1973-2009. Washington, D.C.: Economic
Policy Institute. May 11, 2011.


2. CEO pay

Recent decades have seen a clear
increase in the difference between CEO compensation and that of the
average worker in manufacturing or “production.” CEOs in 1965 made 24
times more than the average production worker, whereas in 2009 they made
185 times more. This chart shows how this ratio between the
compensation of CEOs and production workers took off in the 1980s.

U.S. CEO pay in relation to the average production worker's compensation

Fact 2 image is missing

Source: Economic Policy Institute. 2011. More compensation heading to
the very top: Ratio of average CEO total direct compensation to average
production worker compensation, 1965-2009. Washington, D.C.: Economic
Policy Institute. May 16, 2011.


3. Homelessness

There are 750,000 Americans who
are homeless on any given night, with one in five of them considered
chronically homeless. The ranks of the sheltered homeless include
disproportionate numbers of males, blacks, middle-aged people (i.e.,
ages 31-50), veterans, and disabled.

Who is Homeless?

Fact 3 image is missing

U.S. Department of Housing and Urban Development. 2007. The Annual
Homeless Assessment Report to Congress. See


4. Education Wage Premium

Only college graduates
have experienced growth in median weekly earnings since 1979 (in real
terms). High school dropouts have, by contrast, seen their real median
weekly earnings decline by about 22 percent.

Median weekly earnings of full-time workers (workers 25 years old & older, 2006 dollars)

Fact 4 image is missing

Bureau of Labor Statistics, Charting the U.S. Labor Market in 2006; see Updated to 2009 by Steve
Hipple of the Bureau of Labor Statistics; see


5. Gender Pay Gaps

Throughout much of the 20th
century, the average woman earned about 60% of what the average man
earned. Starting in the late 1970s, there was a substantial increase in
women’s relative earnings, with women coming to earn about 80% of what
men earned. This historic rise plateaued in 2005 and, since then, the
pay gap has remained roughly unchanged.

Women's earnings as a percent of men's (full-time wage and salary workers, annual averages)

Fact 5 image is missing

U.S. Department of Labor, Bureau of Labor Statistics. 2010. Highlights
of Women’s Earnings in 2009. Report 1017. See


6. Occupational Sex Segregation

Women and men tend to work in very different occupations. And overall “men’s jobs” are better paid than “women’s jobs.”

Gendered occupations and unequal rewards

Fact 6 image is missing

U.S. Department of Labor, Bureau of Labor Statistics. 2009. Highlights
of Women’s Earnings in 2008. Report 1017. See


7.  Racial Gaps in Education

High-school dropout
rates are least among whites and highest among Hispanics, while college
enrollment rates are least among blacks and highest among whites. The
high-school dropout rate has grown more similar among these three
groups, while the college enrollment rate has grown more sharply

High school dropout percentage (among persons 16-24 years old) and college enrollment percentage (among high school graduates)

Fact 7 image is missing

Source: The Digest of Education Statistics 2008, National Center for Education Statistics.


8. Racial Discrimination

Racial discrimination
continues to be in the labor market. An experiment carried out in
Chicago and Boston during 2001 and 2002 shows that resumes with
“white-sounding” names, whether male or female, were much more likely to
result in call backs for interviews than were those with
“black-sounding” names (even though the resumes were otherwise

Interview call-back rate for women with “white” names and “black” names

Fact 8 image is missing

Bertrand, Marianne and Sendhil Mullainathan. 2004. “Are Emily and Greg
More Employable than Lakisha and Jamal?” American Economic Review 94(4):


9. Child Poverty

In the United States, 21.9
percent of all children are in poverty, a poverty rate second only to
that of Mexico’s (among rich nations).

Relative Poverty Rates in Twenty-One Rich Nations at the Turn of the Century for Children

Fact 9 image is missing

Source: Timothy M. Smeeding, 2008. “Poorer by Comparison.” Pathways 3-5.


10. Residential Segregation

We all know that the
rich in the United States tend not to live in the same neighborhoods as
the poor. But did you know that such residential segregation is on the
rise? The graph below reveals that, between 1970 and 2000, there has
been a sizable increase in segregation. We show this result by
measuring (a) how likely it is for households in the top fifth of the
income distribution to live with households not in the top fifth (in
1970 and 2000), and (b) how likely it is for households in the bottom
fifth of the income distribution to live with households not in the
bottom fifth (again in 1970 and 2000).

Class-based segregation

Fact 10 image is missing

Claude S. Fischer, Gretchen Stockmayer, Jon Stiles, Michael Hout. 2004.
“Distinguishing the Geographic Levels and Social Dimensions of U.S.
Metropolitan Segregation, 1960-2000.” Demography 41(1): 37-59.


11. Health Insurance

In 2007, 8.1 million children
under 18 years old were without health insurance. Children in poverty
and Hispanic children were more likely to be uninsured.

Uninsured Children by Poverty Status, Age, and Race and Hispanic Origin (percent)

Fact 11 image is missing

U.S. Census Bureau, Current Population Reports. 2008. Income, Poverty,
and Health Insurance Coverage in the United States: 2007. See


12. Intragenerational Income Mobility

income mobility refers to the rate at which a person moves to a higher
or lower income level during her or his work career. More than half of
those individuals in the bottom income quintile in 1994 remained there
10 years later, and less than 4 percent reached the top quintile.

Relative Mobility Out of the Bottom Income Quintile (individuals age 25 to 44)

Fact 12 image is missing

Gregory Acs and Seth Zimmerman. 2008. U.S. Intragenerational Economic
Mobility From 1984 to 2004. The Urban Institute. See


13. Bad Jobs

“Bad jobs” are typically considered
those that pay low wages and do not include access to health insurance
and pension benefits. As shown here, about 10% of full-time workers are
in low-wage jobs, about 30% don't have health insurance, and about 40%
don't have pensions. The graph also shows that the likelihood of being
in a bad job is much worse for part-time workers, for on-call and day
laborers, and for those working for temporary help agencies.

Employment relations and job characteristics

Fact 13 image is missing

Arne L. Kalleberg, Barbara F. Reskin, Ken Hudson. 2000. “Bad Jobs in
America: Standard and Nonstandard Employment Relations and Job Quality
in the United States.” American Sociological Review 65(2): 256-278.


14. Discouraged Workers

Discouraged workers are
persons not currently looking for work because they believe that there
are no jobs available for them. The number of discouraged workers in the
U.S. increased sharply during the current recession, rising to 717,000
in the first quarter of 2009, a 70-percent increase from the first
quarter of 2008. Relative to their share of the labor force, young
people, blacks, and, to a lesser extent, Hispanics and men were
over-represented among discouraged workers.

Unemployed and marginally attached workers in first quarter of 2009 (as share of the civilian population)

Fact 14 image is missing

U.S. Department of Labor, Bureau of Labor Statistics. 2009. Ranks of
Discouraged Workers and Others Marginally Attached to the Labor Force
Rise During Recession. See


15. Wealth Inequality

The ownership of wealth
among households in the U.S. became somewhat more concentrated since the
1980s. The top 10% of households controlled 68.2 percent of the total
wealth in 1983 and 73.1% of the total wealth in 2007.

Concentration of wealth in the U.S. between 1983 and 2007

Fact 15 image is missing

Source: Edward N. Wolff, 2010. “Recent Trends in Household Wealth in
the United States: Rising Debt and the Middle-Class Squeeze – An Update
to 2007.” Levy Economics Institute Working Paper No. 589.
Annandale-on-Hudson, NY: Levy Economics Institute.


16. Intergenerational Income Mobility

income mobility can be measured by calculating the rate at which
individuals move to income quintiles that are different that that of
their families of origin. The proportion of sons who remained in the
bottom quartile declined between 1961 and 1972 and stayed the same

Family Background and Income in Adulthood (individuals age 30 to 59)

Fact 16 image is missing

Harding, David, Christopher Jencks, Leonard M. Lopoo, and Susan E.
Mayer. 2008. “Family Background and Incomes in Adulthood.” Pp. 505-515
in Social Stratification: Class, Race and Gender in Sociological
Perspective, edited by David B. Grusky. Boulder, CO: Westview Press.


17. Deregulation of the Labor Market

percentage of all wage and salary workers who are union members has
declined from 24% in 1973 to 12.4% in 2008. The decline in the private
sector was steeper than the decline in the public sector. At the same
time as union membership declined, the real value of the minimum wage
also fell by 25% in the 1980s, leading to a weakening influence of the
minimum wage on the low-wage labor market. These two developments in
combination may be understood as the foundation of the newly
“deregulated” U.S. labor market.

Private-sector union membership and real minimum wage, 1973-2008

Fact 17 image is missing

Barry T. Hirsch and David A. Macpherson. Union Membership and Coverage
Database from the CPS. See;


18. Job Losses

Employment fell by 3.1 million jobs
during 2008. The job losses were more widespread and severe than
during the previous two recessions in 1990-1991 and 2001 and in fact the
fall in employment is comparable to that in the deeper recession of

Job losses in four recessions, percent decline in employment from peak month

Fact 18 image is missing

Laura A. Kelter. 2009. Substantial Job Losses in 2008. Monthly Labor
Review. See:


19. Immigrants and Inequality

Does immigration to
the U.S. bring highly-skilled workers into the labor force or unskilled
workers? The answer is both! The education distribution below
indicates that immigrants are concentrated in both tails of the skill

Characteristics of immigrant education enrollment in 2000

Fact 19 image is missing

David Card. 2009. Immigration and Inequality. Center for research and
analysis of immigration. See


20. Productivity and Real Income

We are a richer
country overall because of a spectacular rise in labor productivity.
But who has profited from this rise? Although the growth of labor
productivity has expanded total national income, the real income and
wages of the median worker have at the same time stagnated.

Labor productivity and income of the median worker

Fact 20 image is missing

Source: Bureau if Economic Analysis and U.S. Census Bureau



A slightly more updated and nuanced analysis, looking at the top of America's wealth pyramid was penned byZero Hedge back in May 2010, titled: "Visualizing America's Tax Inequality, The Wealthiest 11,000 People, And Why Obama's Campaign Promises Mean 77%-91% Taxes For The Richest" - for those curious about the non-linear scaling affecting those for whom money does not matter...

A summary of the details:

  • 40% of US households make below $36,000
  • 60% make below $57,000
  • 80% make below $91,750
  • 95% making below $165k
  • 98% making less than $250,000
  • 99.99%
    make less than $5 million and 0.01% make more than $5 million (with a
    very special category for those making over $1.5 billion: "Hedge Fund
  • 1% of society makes 17.3% of the income,
  • The average income in the top 0.01%, or 11,000 households, is $35,473,200, and a minimum of $8,579,000
  • The
    average income in the the next 99,000 households, or 99.9%-99.99% of
    the population makes an average $4,699,500, and a minimum of $1,532,400
  • The
    average income in the next 451,000 households, or 99.5%-99.9% of the
    population makes and average $1,206,200, and a minimum of $482,400
  • The
    average income in the next 564,000 households, or 99$-99.5% of the
    population makes and average $269,800, and a minimum of $126,300
  • ...and so forth.

Here are the charts that capture the stratification of America, and its new "nobility" class, courtesy of Visualizing Economics:

First - the peasants, and the clergy:

Next, the nobility:

a little bit more, on those who, unless they manage to stop Obama from
following through on his plans, are about to be taxed between 77% and



And after looking at the US, here is the same data in a global perspective from a post we wrote back in 2010 titled: "A Detailed Look At Global Wealth Distribution"


By now it should be common knowledge to everyone that in American
society, the top wealthiest 1 percentile controls all the political
power, holds half the wealth, and pays what is claimed to be the bulk of
the taxes (despite mile wide tax loopholes and Swiss bank accounts).
The rest of the population is merely filler, programmed to buy every
latest self-cannibalizing iteration of the iPad/Pod while never again
paying their mortgage and brainwashed to watch 2 hours of prime time TV
commercials to keep it distracted from the fact that the last time
America was a democracy was around the time the Wright brothers were
arguing the pros and cons of frequent flier programs. So far so good.
But what about the rest of the world? How is wealth stratified in a
global perspective? Where do the "rich" live? What kind of wealth is
controlled by various countries? Where are the Ultra High Net Worth
people? For answers to all these questions, and much more, confirming
that just like in America, the wealthiest 0.5% control over 35% of world
wealth, Credit Suisse has compiled and released its latest "Global
Wealth Report." The findings are summarized here.

The first figure
shows world wealth by region. The US, with its wealth of about $50
trillion, accounts for 25% of total world wealth, which at last check
was about $200 trillion. And yes, Europe as a region has a slightly
greater wealth portion (32%) than does America (31%).

it comes to geographic distribution, it is to be expected that North
America will have the greatest proportion of people in the ultra wealthy
category. Indeed, the chart below confirms this.

down into asset composition in various countries, it becomes obvious
why the Fed is so focused on keeping the stock market high. With America
being the wealthiest country in the world, and the bulk of US wealth
held in financial assets, offset by a material amount of debt, which
confirms that a deflationary spiral would be the end for the "wealth
effect" so desired by Ben Bernanke. More from CS: "Consider first the
relative importance of financial versus non-financial assets, and the
size of debt. Expressed as a percentage of gross household assets, the
pattern clearly differs markedly between poorer and richer countries and
regions. In developing countries (see Figure 1), for example India and
Indonesia, it is common for 80% or more of total assets to be held in
the form of non-financial assets, largely housing and farms. A high
proportion of real property is also evident in transition countries in
Europe, reflecting in part the wholesale privatization of housing in the
1990s. As countries develop and grow, the importance of non-financial
assets tends to decline, so that the share in China, for instance, is
now close to half. In the richest countries, financial assets typically
account for more than half of household wealth. There are interesting
exceptions to this general pattern. Recent robust house price rises have
propelled the share of non-financial assets above 60% in France and
some other major European countries. South Africa, on the other hand, is
an outlier in the developing world, with exceptionally high holdings of
financial assets: the figure of 80% exceeds the share found in both the
United States and Japan." In other words, the more "developed" the
world becomes, the greater the amount of wealth tied into the
perpetuation of the Ponzi lies. Small wonder why so few in charge are
willing to actually do anything that changes the status quo.

Next, it is time to drill down in the specific composition of the financial assets.

2 provides more detail, showing the breakdown of financial assets into
three categories: currency and deposits, equities (all shares and  other
equities held directly by households), and other financial assets for
selected countries. To add further detail, in most countries the 
reserves of life insurance companies and pension funds form the largest
component of “other financial assets.” The composition of financial
assets differs considerably across countries, especially with regard to
the importance of shares and other equities. One interesting trend we
note is that equities are not always a large component of household
financial wealth, even in countries with very active financial markets.
In the United Kingdom and Japan, for example, equities account for just
13% and 9% of total financial assets respectively. In contrast, they
make up 37% and 43% of financial assets in Sweden and the USA,
respectively. Broadly speaking, the relative importance of currency and
deposits falls as that of bonds and equities increases. On the other
hand, the portfolio share of “other financial assets” does not vary a
lot, staying in the range of about 40%–45%. However, when we come to the
UK, Japan and Colombia, which have the lowest portfolio share of
equities, the pattern breaks down. The UK has a moderate currency and
deposits share, but the largest “other financial assets” share,
reflecting large life insurance and pension reserves. Colombia also has
more in the form of “other financial assets” than is typical. Japan, on
the other hand, which has a strong tradition of saving in deposit form,
has a very large currency and deposits share and only a 35% share of
“other financial assets.”

interesting detour looks at gender distribution for asset holders in
the US and the UK. As the chart below shows, in the UK women appear to
hold more risky assets than men.

at the history of global wealth per adult, net worth peaked just before
the first ponzi/credit/housing bubble popped, confirming that a major
portion of the then-record $50K/adult net wealth was imaginary. Yet it
may have far more to drop: as CS says, "despite the financial crisis,
the past decade has in fact been a relatively benign period for
household wealth accumulation. Global net worth per adult rose 43% from
USD 30,700 in the year 2000 to USD 43,800 by mid-2010. Since the number
of adults increased from 3.6 billion to 4.4 billion over this period,
aggregate household wealth rose by 72%. One important factor
here was the depreciation of the dollar against most major currencies,
which accounts for part of the rise in dollar-denominated values, but
average net worth still increased by 24% when exchange rates are held 
." The next question is how much latent dollar
devaluation has been accrued to this point and how much more is due to
only gradually emerge.

next chart is rather self-explanatory. The richest nations, with wealth
in 2010 above USD 100,000 per adult, are found in North America, 
Western Europe, and among the rich Asian-Pacific and Middle East
countries. They are topped by Switzerland, Norway, Australia, Singapore
and  France, each of which records wealth per adult above USD 250,000.
Average wealth in other major economies such as the USA, Japan, the 
United Kingdom and Canada also exceeds USD 200,000.

And some more detail on the various wealth regions:


wealth: The band of wealth from USD 25,000 to USD 100,000 covers many
recent EU entrants (Poland, Hungary, Czech Republic,  Slovakia, Latvia,
Lithuania, Estonia, Cyprus) and important Latin American countries
(Mexico, Brazil, Chile), along with a number of Middle  Eastern nations
(Lebanon, Saudi Arabia, Bahrain).

Frontier wealth: The main
transition nations outside the EU, including China, Russia, Belarus,
Georgia, Kazakhstan and Mongolia, fall in the USD 5,000 to USD 25,000
range, together with some of their Far East neighbors (Indonesia,
Thailand) and most of Latin America (Colombia,  Ecuador, Peru, El
Salvador). The group also contains a number of African nations at the
southernmost tip (South Africa, Botswana, Namibia) and on the
Mediterranean coast (Morocco, Algeria, Tunisia, Egypt).

the category below USD 5,000 comprises almost all of South Asia,
including India, Pakistan, Bangladesh and Nepal, and almost all of
Central and West Africa.

Next is a pie chart of with a detailed break down of wealth distribution by region.

Credit Suisse provides a look at geographic wealth distribution by decile:

be among the wealthiest half of the world, an adult needs only USD
4,000 in assets, once debts have been subtracted. However, each adult
requires more than USD 72,000 to belong to the top 10% of global wealth
holders and more than USD 588,000 to be a member of the top  1%. The
bottom half of the global population together possess less than 2% of
global wealth, although wealth is growing fast for some members of this
segment. In sharp contrast, the richest 10% own 83% of the world’s
wealth, with the top 1% alone accounting for 43% of global assets.
Figure 4 shows how the regions of the world are represented amongst the
wealth deciles. Unsurprisingly for example, North America and Europe
together make up the lion’s share of the top wealth decile (10%). China
has relatively few representatives at the very top and bottom of the
global wealth distribution, but dominates the middle section, supplying
more than a third of those in deciles 4–8. The sizeable presence of
China in the middle section reflects not only its population size and
moderate average wealth level, but also relatively low wealth
inequality. China’s position in the global picture has shifted upwards
in the past decade as a consequence of a strong record of growth,
rising  asset values and the appreciation of the renminbi relative to
the US dollar. China already has more people in the top 10% of global
wealth  holders than any country except for the USA, Japan and Germany,
and is poised to overtake both Germany and Japan in the near future.

Next is the chart that everyone has seen as it pertains to America,
but few have seen in terms of the entire world. Per CS, Figure 1 shows
“The global wealth pyramid” in striking detail. It is made up of a solid
base of low wealth holders with upper tiers occupied by fewer and fewer
people. We estimate that 3 billion individuals – more than two thirds
of the global adult population – have wealth below USD 10,000. A further
billion adults (24% of the world population) are placed in the USD
10,000–100,000 range, leaving 358 million adults (8% of the world
population) with  assets above USD 100,000. Figures for mid-2010
indicate that 24.2 million adults are above the threshold for dollar
millionaires. While they make up less than 1% of the global adult
population, they own more than a third of global household wealth. More
specifically, individuals with wealth above USD 50 million are estimated
to number 81,000 worldwide.

Some more details on the various tiers of the pyramid:

Bottom of the pyramid

various tiers of the wealth pyramid have distinctive characteristics.
The base level is spread broadly across  countries. It has significant
membership in all regions of the world, and spans a wide variety of
family circumstances. The upper wealth limit of USD 10,000 is a modest
sum in developed countries, excluding almost all adults who own houses,
with or without a mortgage. Nevertheless, a surprisingly large number of
individuals in advanced countries have limited savings or other assets.

high proportion are young people with little opportunity or interest in
accumulating wealth. In fact, limited amounts of tangible assets 
combined with credit card debts and student loans lead many young people
to record negative net worth. In Denmark and Sweden, for example, 30%
of the population report negative wealth. This is an important and often
overlooked segment, not least in the context of the credit crisis.

wealth is also a common feature of older age groups, particularly for
those individuals suffering ill health and exposed to high medical
bills. In fact, the means testing applied to many state benefits,
especially contributions to the cost of residential homes, provides an
incentive to shed wealth. Nevertheless, relatively few people in rich
countries have net worth below USD 10,000 throughout their adult life.
In essence, membership of the base section of the global wealth pyramid
is a transient, lifecycle phenomenon for most citizens in the developed

The situation in low-income countries is different. More
than 90% of the adult population in India and Africa fall in this band;
in many low-income African countries, the fraction of the population is
close to 100%. However, the cost of living is usually much lower. For a
resident of India, for instance, assets of USD 10,000 would be
equivalent to about USD 30,000 to a resident of the United States. In
much of the  developing world, this is enough to own a house or land –
albeit possibly with uncertain property rights – and to have a
comfortable lifestyle by local standards.

Middle of the pyramid

billion adults in the USD 10,000–100,000 range form the middle class
from the perspective of global wealth. With USD 32 trillion in total
wealth, it certainly carries economic weight. This tier has the most
regionally balanced membership, although China now contributes almost a
third of the total. The wealth range would cover the median person over
most of his adult life in high income countries. In middle income
countries it would apply to a middle class person in middle age.
However, in low-income countries only those in the top decile qualify,
restricting membership to significant landowners, successful
businessmen, professionals and the like.

High segment of the pyramid

we consider the “high” segment of the wealth pyramid – the group of
adults whose net worth exceeds USD 100,000 – the regional composition 
begins to change. With almost 358 million adults worldwide, this group
is far from exclusive. But the typical member of the group is very
different in different parts of the world. In high income countries, the
threshold of USD 100,000 is well within the reach of middle-class
adults once careers have been established. In contrast, residents from
low-income countries would need to belong to the top percentile of
wealth holders, so only the exceptionally successful, well endowed or
well connected qualify.

The regional contrast shows up in the
fact that North America, Europe and the Asia-Pacific regions account for
92% of the global membership of the USD 100,000+ group, with Europe
alone home to 39% of the total. As far as individual countries are
concerned, the membership ranking depends on three factors: the
population size, the average wealth level, and wealth inequality within
the country. Only 15 countries host more than 1% of the global
membership. The USA comes top with 23% of the total. All three factors
reinforce each other in this instance: a large population combining with
high mean wealth and an unequal wealth distribution. Japan is a strong
runner-up, the only country at present to seriously  challenge the
hegemony of the USA in the global wealth ranking. Although its relative
position has declined since the year 2000 due to lackluster stock market
and housing market performance, Japan is still home to 15% of
individuals with wealth above USD 100,000.

Top of the pyramid

the top of the pyramid, we find the world’s millionaires, where we
again witness a slightly different pattern of membership. The proportion
of members from the United States rises sharply to 41%, and the share
of members from outside of the North America, Europe and Asia-Pacific
regions falls to just 6%. The relative positions of most countries move
downwards, but there are exceptions. The French share is estimated to
double to 9%, while Sweden and Switzerland are each now credited with
more than 1% of the global membership.

And next, is a detailed look at the very top of the pyramid: those individuals which have over 1 million in net worth.

assemble details of the pattern of wealth holdings above USD 1 million
requires a high degree of ingenuity. The usual sources of data –
official statistics and sample surveys – become increasingly incomplete
and unreliable at high wealth levels. A growing number of publications
have followed the example of Forbes magazine by constructing “rich
lists,” which attempt to value the assets of particular named
individuals at the apex of the wealth pyramid. But very little is known
about the global pattern of asset holdings in the high net worth (HNW –
greater than USD 1 million) and ultra high net worth (UHNW – from USD 50
million upwards) range.

We bridge this gap by exploiting
well-known statistical regularities in the top wealth tail. Using only
data from traditional sources in the public  domain yields a pattern of
global wealth holdings in the USD 250,000 to USD 5 million range, which,
when projected onward, predicts about  1000 dollar billionaires for
mid-2010. Although not exactly comparable, this number is very close to
the figure of 1,011 billionaire holdings reported by Forbes magazine for
February 2010. Making use of the regional affiliation recorded in rich
lists allows us to merge the top tail  details with data on the level
and distribution of wealth derived from traditional sources in order to
generate a regional breakdown of HNW and UHNW individuals. At this time,
we do not attempt to estimate the pattern of holdings across particular
countries, except China and India which are treated as separate
regions. However, as a rule of thumb, residents of the USA account for
about 90% of the figure for North America.

The base of the wealth
pyramid is occupied by people from all countries of the world at
various stages of their lifecycle. In contrast, HNW and UHNW individuals
are heavily concentrated in particular regions and countries, but the
members tend to share a much more similar lifestyle,  often
participating in the same global markets for high coupon consumption
items. The wealth portfolios of individuals are also likely to be 
similar, dominated by financial assets and, in particular, equity
holdings in public companies traded in international markets. For these
reasons, using official exchange rates to value assets is more
appropriate, rather than using local price levels to compare wealth

Our figures for mid-2010 indicate that there were 24.5
million HNW individuals with wealth from USD 1 million to USD 50
million, of whom the vast majority (22 million) fall in the USD 1–5
million range. North America dominates the residence ranking, accounting
for 11.1 million HNW individuals (45% of the total). Europe accounts
for 7.8 million (31.7%) and 4.1 million reside in Asia-Pacific countries
other than China and India. We estimate that there are now more than
800,000 HNW individuals in China, each worth between USD 1 million and
USD 50 million (3.3% of the global total). India, Africa and Latin
America together host the remaining 740,000 HNW individuals (3.0% of the

take home message is that the wealthiest people in the world have the
bulk of their wealth entrenched in the current system and any dramatic
overhaul or reset of the status quo will be met by the stiff resistance
of those who can summon fleet of jets, private armies, and even Fed
chairmen on a whim. Whether anyone will have the wherewithal to confront
the broken system under such conditions remains to be seen.


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Sat, 06/04/2011 - 16:19 | 1339796 Atomizer
Atomizer's picture

What is the relevance Tyler? All charts are outdated.

Sat, 06/04/2011 - 16:26 | 1339812 Tyler Durden
Tyler Durden's picture

Which implies that collocated HFT algos will be unhappy...

Sat, 06/04/2011 - 16:37 | 1339833 IdioTsincracY
IdioTsincracY's picture

Algos have no emotions. they do not give a fuck about you, me, the nation, or the whole damn world!

Perfect tool for casino style investment ....

Charts are not outdated ... at all... the trends are all there ...

Trickle trickle little star ...

bend a little for my bar ...

Sat, 06/04/2011 - 17:03 | 1339866 Michael Victory
Sat, 06/04/2011 - 17:58 | 1339948 JW n FL
JW n FL's picture
by Michael Victory
on Sat, 06/04/2011 - 17:03


Take The Silver QuiZ?



I wonder how many clicks people get for posting at the top of Tylers Articles?

How many clicks does it take a newbie to start getting braver and braver until Poof! always at the top?

Stop Posting at the top of every article. This is not your personal fucking advertising space.. and you are not the first dumb fuck nor will you be the last I am so fucking sure.

Sat, 06/04/2011 - 18:26 | 1340006 TheGoodDoctor
TheGoodDoctor's picture

Give the dude a break will ya? Heck he links to ZH from his blog. It's a fairly slick looking blog to boot. I'd be proud if I could make something like that and the dude has taste with the articles he posts over there.

Of which the one above is a great article and hell maybe even Tyler will post it since he posts stuff from Casey. They are compelling arguments for the silver story. We are all fighting in this info war dude.

Shit, I wouldn't have known The Turd had a blog if he wasn't doing any self promotion over here at ZH.

Sun, 06/05/2011 - 18:05 | 1341924 Michael
Michael's picture

JW has valid complaints and great contributions to this forum, but sometimes people like me just want to be heard once in a while, so we try to squeeze a word in edgewise like here.

"The take home message is that the wealthiest people in the world have the bulk of their wealth entrenched in the current system and any dramatic overhaul or reset of the status quo will be met by the stiff resistance of those who can summon fleet of jets, private armies, and even Fed chairmen on a whim."

That's why I planned the complete and total worldwide economic collapse for them. The beast will be starved to death and there's nothing anyone can do to stop it from happening. It's a mathematical certainty.


Sat, 06/04/2011 - 17:57 | 1339952 TheGoodDoctor
TheGoodDoctor's picture

Thanks Victory. Astounding facts for the silver argument.

Sun, 06/05/2011 - 00:32 | 1340632 M4570D0N
M4570D0N's picture

I stopped at #2. Those numbers are not correct at all. Also the difference between demand and mine production is not made up for by scrap alone. You forgot producer heding and net government sales in there.



Sun, 06/05/2011 - 01:12 | 1340658 TheGoodDoctor
TheGoodDoctor's picture

Contact Jeff Clark at Casey Research. He also posts articles at Seeking Alpha, you could probably reach him through there. Heck he might even have posted this article there. He seems like a reasonable guy if what you are saying is true, then I'm sure he would update his article.

Sun, 06/05/2011 - 22:33 | 1342322 Ura Bonehead
Ura Bonehead's picture

He also posts articles at Seeking Alpha..


Which used to be a nice site but has become amateur night.

Sat, 06/04/2011 - 22:37 | 1340459 ISEEIT
ISEEIT's picture

Perfect moniker Arianna! You will not get paid off of this site though bitch. Go home.

Sat, 06/04/2011 - 23:33 | 1340551 ISEEIT
ISEEIT's picture

Subsitute "algos" for trolls and it all still aligns. Leftist asshat. Do you ever feel bad about what you are doing or is it okay because your soul is dead?

Sat, 06/04/2011 - 16:37 | 1339834 Atomizer
Atomizer's picture

Got it. Just reviewing Consumer Metrics Institute in search of your point. Thanks for your reply.

Sat, 06/04/2011 - 16:43 | 1339836 Yen Cross
Yen Cross's picture

 I'm compliant. After all, who trades M-5 charts?

Sat, 06/04/2011 - 17:52 | 1339941 JW n FL
JW n FL's picture

Great Job on the Information Tyler!



Sat, 06/04/2011 - 19:24 | 1340118 Hive Raid
Hive Raid's picture

A significant degree of inequality is in synch with evolution.

The problem with providing substantial resources to the low level workers is that they constantly overbreed. The lowest quality genes thus proliferate much faster than that of the superior genes of the middle and upper classes. The hordes of mules can then use their majority to dominate their superiors, potentially to extinction. A dysgenic outcome.

Perpetual evolutionary progress in the species is a noble goal. The betterment of mankind. Eugenics has not always been a dirty word. The Chinese and Jews have long incorporated eugenic policies and ideas in their cultures, to the benefit of their people as a whole.

Today the reproductively responsible middle class is being drained to finance the explosion of bacterial plaques throughout our territories, while the upper sliver withholds the majority of resources.

Even if all individuals were of equal genetic value, the constant overbreeding of lower classes would cause perpetual population boom and bust cycles, with all of the accompanying wars, starvation, suffering. Too many puppies. Nature takes care of it, one way or another.

"Stanford Center for the Study of Poverty and Inequality"... that says it all.

Tyler Durden?  Tyler Franz Boas?




Sat, 06/04/2011 - 19:46 | 1340164 Dugald
Dugald's picture

The Borg?

Sat, 06/04/2011 - 22:00 | 1340411 Quixotic_Not
Quixotic_Not's picture

More like Idiocracy...

Sat, 06/04/2011 - 23:24 | 1340529 ISEEIT
ISEEIT's picture

Funny. We were just talking about that. This is Idiocracy. Only it is the leftist slaves "house niggers" who are the idiots.

I don't use that term lightly. I respect the word and it's power. So when I say it, I'm saying something.

Sun, 06/05/2011 - 01:13 | 1340656 TheGoodDoctor
TheGoodDoctor's picture

I joked with a friend tonight that Idiocracy is a documentary not a movie. LOL.

Sat, 06/04/2011 - 22:04 | 1340406 Bob
Bob's picture

Overbreeding?  Really?  Now there's some courageously forward, non-pc thinking.  That was so fucked up that it was hilarious!  I know there are people out there who think like that, but I just hear it so infrequently.  Wonder why that is . . .

Crazy as fuck, man.

Sat, 06/04/2011 - 23:18 | 1340521 Hive Raid
Hive Raid's picture

Objectivity. Free of emotional constraints. First rule of science.

Sun, 06/05/2011 - 02:10 | 1340694 Mec-sick-o
Mec-sick-o's picture

As long as humans are in the equation of science, objectivity is compromised.

Current Scientific facts can be questioned and revised as some uncertainty still exists on every scientific theory.

Most theories have been revised.

Celestial Body Physics: Ptolemy, Newton, Einstein, ?

Each had its "objective" frame and it was considered true in each of their epochs.

Sun, 06/05/2011 - 05:05 | 1340752 Antipodeus
Antipodeus's picture

Second rule of Fascism.


Sat, 06/04/2011 - 23:25 | 1340535 blunderdog
blunderdog's picture

Yeah, Bob, whenever I see stuff like that, I'm inclined to wish for a virus that would kill everyone except Downers.

Sat, 06/04/2011 - 23:52 | 1340574 Oh regional Indian
Oh regional Indian's picture

Hah bob. We want our reactors to be "fast-breeder" but our humans to be slow ones.

Actually, as we look at the world (carefully), these kinds of strange linkages always make me think. Eugenicists probably talk in tongues that you and I would probably find even more apalling, eh?

Crazy indeed.


Sun, 06/05/2011 - 11:33 | 1341164 JW n FL
JW n FL's picture
by Bob
on Sat, 06/04/2011 - 22:04


Overbreeding?  Really?  Now there's some courageously forward, non-pc thinking.  That was so fucked up that it was hilarious!  I know there are people out there who think like that, but I just hear it so infrequently.  Wonder why that is . . .

Crazy as fuck, man.


Al Bartlett on energy consumption versus population

blind spot (clip)

Al Bartlett interview from Blind Spot documentary


I am not saying that the tought process is correct or fair.. what I am saying is that this conversation has been being had at the top going back decades and the tipping point.. for the coversation, will be the push to warm people (broadly) to the message.. which we are seeing more and more of..




1 problem is..

when the Rockefeller's tell the truth.. and people jump them.. that’s lends them the upper hand, because when the debate over the facts is had.. they will win.


Now, if you were to say that because the Rockefellers were guilty of leading the sheep around.. to NO! benefit of the sheep.. and to the benefit of the greedy who just are more and more greedy.. I would say kudos!


Social Sciences Data Center Links:
» Data Collection Development Policy
» Spatial Data and GIS
» Brown University Geospatial Resources
» Statistics and Data
» Federal Government Information
» Rhode Island Government Information
» United Nations Government Information


The Social Sciences Data Center located in the Reference area of the Rockefeller Library offers one-stop shopping for all your data needs. It stores a wide range of numeric and spatial datasets for all subjects. Data cover themes such as international censuses, (e.g. China , India , Argentina , Brazil , etc.), history, (e.g. the trans-Atlantic slave trade), economic data, (e.g. LehmanLive and Compustat), quality of life, (e.g. world database of happiness), geography, (e.g. old digitized maps of Providence ), and many more. Discover what is available at the Library or online by searching in Josiah for "Data Center Collection". The Data Center services also include help with finding and managing data, consultation, and support for SPSS, Stata, Nvivo and ArcGIS

Sun, 06/05/2011 - 11:36 | 1341170 Saxxon
Saxxon's picture

No it's not, Bob.  Your reaction is a little shrill isn't it?

The way things are wired now, the middle class in America is financing the import and proliferation of the poor from Mexico and Central America; also the African-American welfare exploitation. It has been like this for years, it is the agenda and it is painfully obvious.

Buy a house and pay those taxes, and you will have a clue.

Sun, 06/05/2011 - 12:48 | 1341291 Bob
Bob's picture

Crazy is something you either know when you see it or you don't.  Explaining cannot help. 

Why would I need a clue to recognize malignantly nihilistic misanthropy?  You can't dress that up . . .

Sun, 06/05/2011 - 00:26 | 1340624 Ben Dover
Ben Dover's picture

True, but I wonder if the reason this is posted is not to argue against your point, but to argue against people who claim that the trends identified by all the charts don't exist. 

Now, what you've said here you've said up front. You put no window dressing on it, you don't lie about it, you don't couch it in idealistic rhetoric. In short, you are not a hypocritical asswipe.

However, you're more honest than politicians and others who claim that what is proven in trends does not exist. 

Sat, 06/04/2011 - 22:53 | 1340477 ISEEIT
ISEEIT's picture

I felt a bit perplexed at first with all this focus on wage inequality and marxism blah, blah, blah.

I think I get it now though. You guys are brilliant. The useful idiots of this regime can be won over by appealing to a key intellectual drug abused as a method of owning them. Art of war bitches.

Alinsky was really a lazy punk, sociopath.

I respect and support your move. I always got hung up on the point of 'how do we as NOT PROGS/COMMUNIST confront the genuine societal problem of ridiculous income inequality?

The nobrainer answer is of course genuine free markets. FREE PEOPLE. Individuals allowed to experience life as it was meant to be. Raw and unfuckedup by 'managers/zookeepers.

Power must return to the individuals who create it. The government/Union filter is a perversion and abuse of what ought to be ours without 'their' bullshit permission.

Sun, 06/05/2011 - 17:59 | 1341917 Michael
Michael's picture

"The take home message is that the wealthiest people in the world have the bulk of their wealth entrenched in the current system and any dramatic overhaul or reset of the status quo will be met by the stiff resistance of those who can summon fleet of jets, private armies, and even Fed chairmen on a whim."

That's why I planned the complete and total worldwide economic collapse for them. The beast will be starved to death and there's nothing anyone can do to stop it from happening. It's a mathematical certainty.



Sat, 06/04/2011 - 16:43 | 1339844 ratso
ratso's picture

The fact that the numbers might be a bit old doesn't invalidate either the numbers or the trend.

The wealth and opportunity disparity that leaps from those numbers has surely gotten worse. 

What's the worst that can happen as the numbers worsen - a revolution?  Who cares right.

Bring out the cake








Sat, 06/04/2011 - 16:49 | 1339848 IdioTsincracY
IdioTsincracY's picture


The only outdated chart is #2.... that little pull back in CEO pay is gone ...

CEO pay is back UP with a vengeance!

Trickle trickle little star ....

Sat, 06/04/2011 - 17:05 | 1339868 Yen Cross
Yen Cross's picture

 I suggest that you, Realign your malevolent thoughts. Be a better person, and see a DUCK when it walks. 

   ED: AKA   yen cross

Sun, 06/05/2011 - 03:59 | 1340734 TheAlchemist
TheAlchemist's picture

But the cake is a lie...

Sun, 06/05/2011 - 08:40 | 1340966 snowball777
snowball777's picture

There will be cake.

Sat, 06/04/2011 - 20:37 | 1340248 Phaethon
Phaethon's picture

That graph about homelessness said <10% of the US population is Hispanic.  And this is from 2007?  It's possible they were using legacy data, but it's been a while since that figure would be true.

Sun, 06/05/2011 - 19:29 | 1342039 DosZap
DosZap's picture

Hispanics as of '10 Census now are approx 17%+ of the Pop.

They outnumber the African American population.

Sat, 06/04/2011 - 23:59 | 1340588 Ironmaan
Ironmaan's picture

Does anyone really believe the US is behind Mexico in child poverty? That chart is a bunch of BS. How exactly was "poverty" defined? I thought we had a childhood obesity problem because they are eating too much and playing Playstation all day. So which is it?

Sun, 06/05/2011 - 19:41 | 1342045 DosZap
DosZap's picture

When the definition of POVERTY LEVEL is approx $25k per yr, I am with you.

NO frickin way child hunger / poverty is CLOSE to Hispanic.

Anyone that is hungry is the USA, can get  THREE squares a  day everyday.

When your POOREST peoples are more wealthy than 98% more of the worlds population, don't think I for one believe a word of it.

This was prior to the Depression, and I know the meals and getting fed, are still true.

Shit, 47 million on Wefare?,may not be the Ritz, but beats the shit out of Zimbabwe.

Sun, 06/05/2011 - 19:39 | 1342046 DosZap
DosZap's picture


Sun, 06/05/2011 - 04:57 | 1340749 globalcapital
globalcapital's picture

Important developement in world's largest (Banana) Democracy.

A must for people who want to  develop the right perception of India. The developments of the last 24 hours have been phenomenal to say the least. There are huge repercussions for the political stability of India.

Background - A yoga guru will hundreads of millions  of followers took up a fast until death against corruption in India. Across the country millions joined. The  corrupt Governtment got nervous and attacked the peaceful gathering in the middle of night.

Surely one can expect markets to be jittery when they open tomorrow!!

Tyler it would be great if you could put some more light on the stories.

You can get more info here!!

Sun, 06/05/2011 - 08:01 | 1340857 ibjamming
ibjamming's picture

The relevance is...white people are better than black/brown people...worldwide statistics prove it.

Sun, 06/05/2011 - 12:08 | 1341228 dalkrin
dalkrin's picture

Shh, you can't say that!  Have to suppress the truth you know.

Should also realize there are those who hold even more disproportionate wealth than your average John or Thomas.

These ideological frictions were confronted during WW2, and I'd say sometime this century they will be at the root of another worldwide upheaval and bloodbath.

I try to maintain respect for every human as an inherent right, but it's harder to make a human outreach of empathy when they are unknown masses.

Tyler, what do you propose after this convincing data?  Can it be you are a Marxist?

Sun, 06/05/2011 - 19:44 | 1342059 DosZap
DosZap's picture

A tad racist aren't we?.

Put everyone on an equal playing field, with exact same lifestyles, and chances, and those stats would be entirely different.

Sat, 06/04/2011 - 16:19 | 1339800 chumbawamba
chumbawamba's picture

Chumbawamba spent a day in jail earlier in the week and experienced inequality firsthand.  Those on the lower rungs of society are not the poor, they are the resistance.

I am Chumbawamba.

Sat, 06/04/2011 - 16:27 | 1339808 topcallingtroll
topcallingtroll's picture

Give us the details chumba. Why were you arrested. What happened.

Sat, 06/04/2011 - 16:53 | 1339856 knowless
knowless's picture

i second the motion.

Sat, 06/04/2011 - 20:16 | 1340219 BigDuke6
BigDuke6's picture

Chumba did not obey.

And they put him in a cage man.

Sat, 06/04/2011 - 20:34 | 1340241 chumbawamba
chumbawamba's picture

And there you have it.

I am Chumbawamba.

Sun, 06/05/2011 - 13:57 | 1341432 Hook Line and S...
Hook Line and Sphincter's picture

I've graced myself there a few times as well. Once for a 4 month sojourn. It was interesting to see the guards dramatically ease up after having conversations regarding 'who' it was that was actually in jail... them. I was leaving after a determined period, while they had to stay. What a f'd up job.

Sun, 06/05/2011 - 14:51 | 1341566 chumbawamba
chumbawamba's picture

You know, I never really thought about it that way.  And you're absolutely right.  You pretty much mind-fucked them on that one.  They're probably still thinking of that shit to this day.  I have no plans to ever return to such a place, but if I do I will remember that.


I am Chumbawamba.

Sun, 06/05/2011 - 14:53 | 1341570 chumbawamba
chumbawamba's picture

I have a new moniker for you.  You are henceforth bottomcrouchinggimp.

I am Chumbawamba.

Sat, 06/04/2011 - 16:27 | 1339809 Quixotic_Not
Quixotic_Not's picture

Fate Resistors = Terrorists

Sat, 06/04/2011 - 16:57 | 1339863 serotonindumptruck
serotonindumptruck's picture

One day?

Sounds like a DUI.

I had one of those about 12 years ago. One was enough.

Sat, 06/04/2011 - 18:41 | 1340045 seek
seek's picture

Pretty much any outstanding warrant results in most of a day in jail due to paperwork, etc. Could be as little as an unpaid/undocumented parking ticket.

I've seen this firsthand in AZ, the slightest infraction can snowball very rapidly (3 months) from a $20 offense to jail + $2K. The system is rigged to extract maximum revenues from those least able to pay.


Sat, 06/04/2011 - 20:34 | 1340245 chumbawamba
chumbawamba's picture

And there you go.  Not wearing a seatbelt snow-balled into impoundment and jail.  Budget cuts have left the police with no other choice than to resort to extortion, hijacking and kidnapping.  Poor things.

Unfortunately for them, I believe that ignorance of the law is no excuse.  They are about to receive a lesson from Professor Chumba.

I am Chumbawamba.

Sat, 06/04/2011 - 22:02 | 1340408 Milestones
Milestones's picture

Don't quit!! My citation was in 10-2005 and I.m still in the hunt for justice as of 6-4-2011. Have spent 90 days and had a heart attack but I will out here soon. Then the shoe goes on the other foot and the price of poker is going to get exxxpensive!!     Milestones

Sun, 06/05/2011 - 01:38 | 1340675 chumbawamba
chumbawamba's picture

Holy crap, dude.  The lengths this government goes to destroy its citizens is truly satanic.

Get 'em good.  I think I got these guys cornered.  Tables are definitely about to turn.

I told them not to fuck with me.

I am Chumbawamba.

Sun, 06/05/2011 - 02:10 | 1340695 Roaming Uranus ...
Roaming Uranus Looking For Klingons's picture

You are Chumbawamba.  You are an idiot.

Thank you and have a nice day you freakin moron!!!

Sun, 06/05/2011 - 09:40 | 1341031 ISEEIT
ISEEIT's picture

Before you label 'ole Chumbie an idiot, you might want to spend some more time on the site and obtain some historical perspective. Chumbie plays a special role that is not immediately apparent.

Sun, 06/05/2011 - 10:14 | 1341082 centerline
centerline's picture

Member for less than a day and you come out swinging on Chumba?  Dude... at least tell us why you think Chumba is an idiot.  If your here for the "fight club" aspect of this site, fantastic.  But, bitch slapping wont cut it - LOL.

Sun, 06/05/2011 - 13:00 | 1341331 chunga
chunga's picture

My observations while driving are that the most flagrant offenders of traffic violations are the operators of police cars and school busses.

Sun, 06/05/2011 - 19:52 | 1342070 DosZap
DosZap's picture

Just be glad you were not using a video on them.............that's the death penalty.

Sat, 06/04/2011 - 22:29 | 1340453 nmewn
nmewn's picture

Seatbelt laws are BS.

Revenue extraction at the point of a gun and power of arrest.

Sun, 06/05/2011 - 00:19 | 1340616 DaveyJones
DaveyJones's picture

Tickets are definitely the new tax and have less and less to do with safety. Camera tickets rarely have a license affect unless you blw them off

Sun, 06/05/2011 - 01:37 | 1340679 chumbawamba
chumbawamba's picture

Which is why I'm tell everyone I talk to about fighting traffic tickets.  The traffic court scam is the Achille's Heal of every state.  If just 5% of people who received them opted to fight, it would bring the system to a crawl.  Nobody seems to want to listen yet.

I am Chumbawamba.

Sun, 06/05/2011 - 08:45 | 1340971 snowball777
snowball777's picture

These people who don't "seem to want to listen" are also devoid of friends from the drunk tank.

Put on your seatbelt, drive like a grown-up, and there won't be anything to fight.

Sun, 06/05/2011 - 13:30 | 1341382 blunderdog
blunderdog's picture

Interesting you'd say that.  A friend of mine from years back was the annoying nag who always made us buckle up.  She ALWAYS wore her seatbelt.  Not long ago, she got a ticket for "no seatbelt."  The cop said he saw it hanging straight down when she drove by, and she put it on after he pulled her over.

Even if you do obey the law, there's no guarantee you won't be prosecuted.  Don't kid yourself it's all fair and just.

Sun, 06/05/2011 - 13:33 | 1341385 dogbreath
dogbreath's picture

on a sunday in my town.  can't drive two blocks without hiting a red light so traffic is going slooow.  pulled over for not wearing a belt.  happened to forget my wallet too so no D.L. but the cop addressed me by my name when he walked up.  600 in tickets and then had to listen to a ten minute lecture that my pickupp should be registered as a commercial vehicle blah blah blah.  more jabber that the government shouldn't have privitised the registries and they gave me the wrong plate. 

many cops I meet are not sheep dogs which I could respect, they are sheep fuckers which I cannot.

Sun, 06/05/2011 - 09:21 | 1341001 centerline
centerline's picture

+1.  Just a revenue machine.  They attempted to screw me a couple years ago when I was out of my home state.  The out of state tag was probably what they were looking for.  Fabricated some BS about speeding and having got me on the radar gun.  I was actually watching my speed around that time real careful - so I know the ticket was crap.

So, I didnt say anything.  Got back home.  And start asking in writing for the officers information, radar gun make and model, radar gun calibration records/certifications/procedures, extending the court date several times waiting to get the information, etc..  When you do this, you find out really fast that all they want is the money.  Extortion.

I have a feeling it is going to get alot worse soon.

Sun, 06/05/2011 - 10:23 | 1341094 centerline
centerline's picture

Holy crap.

I actually was going to add onto my post that people really need to be careful.  I dont mean just citizens... I also mean police.  We are heading for a shitstorm of epic proportions.  Seems to me that mianstream public sentiment is starting to shift... I have seen dozens of reports like this just in the last couple of weeks now.

Sun, 06/05/2011 - 11:32 | 1341168 snowball777
snowball777's picture

Mos Def, the shitz be gettin' both deep and real, on the real.

Sun, 06/05/2011 - 12:45 | 1341285 IQ 101
IQ 101's picture

I told the judge "I was just about to get out of the car to talk to the officer,

I undid my seat belt,and he walked up on me",

It worked, the judge threw the ticket out.

I always wear a seat belt by choice,but reserve the right not to,

I'm much to pretty to go through the windshield.

Sun, 06/05/2011 - 11:44 | 1341183 Saxxon
Saxxon's picture

Soon enough those cameras are going to find themselves getting blown off their mounts.  I am surprised this is not happening nationwide as I type.

Sun, 06/05/2011 - 19:47 | 1342064 DosZap
DosZap's picture

You got it, if you have the coin to stick it in their face, the heat is a lot less.

Fight the Power.

Sat, 06/04/2011 - 18:46 | 1340057 dark pools of soros
dark pools of soros's picture


Sat, 06/04/2011 - 17:08 | 1339877 Yen Cross
Yen Cross's picture

  Welcome to the first RUNG of Guberment. P.S. Quit drinking and driving!


       It's all smoke and mirrors people.  Just use common sense!

Sat, 06/04/2011 - 17:19 | 1339892 Atomizer
Atomizer's picture

Welcome back Chumbawamba!

A little clip to put a smile on your face.

Dave Chappelle - Law N Order - Jury Service

Sat, 06/04/2011 - 20:55 | 1340264 chumbawamba
chumbawamba's picture

Oh yeah, that's the stuff.

Fucking brilliant.  Chappelle both defined and represented the 2000s culturally.

I love that man.

I am Chumbawamba.

Sun, 06/05/2011 - 10:32 | 1341103 centerline
centerline's picture

Chapelle was the best.  He made his money, and dropped the hell out.  Just brilliant on all levels.

Sat, 06/04/2011 - 21:56 | 1340404 zen0
zen0's picture

Why on earth did they let you out? I bet you didn't say "I am Chumbawamba", did you?


I thought not. They probably would have kicked the shit out of you and laughed the whole time.

Sun, 06/05/2011 - 05:51 | 1340775 J in Vegas
J in Vegas's picture

And if I remember right in the classic 1984, the "proles" were the future resistance too.

J in Vegas

Sun, 06/05/2011 - 23:12 | 1342373 thefatasswilly
thefatasswilly's picture

You remember wrongly.

Sat, 06/04/2011 - 16:23 | 1339804 Quixotic_Not
Quixotic_Not's picture

Who is Homeless?

Historically it has been addicts and the mentally unstable...

Going forward it will include a new group, the unemployable, due to systemic offshoring (i.e. looting) and extreme lack of prescienct thought given by the (D) & (R) electorate regarding the future of the American Experiment.


Sat, 06/04/2011 - 16:36 | 1339822 topcallingtroll
topcallingtroll's picture

Every halfway able bodied person is employable to some degree and can create some value if governments wouldnt create so many barriers.

The bottom 20 percent have traditionally been the servant class. They can create enough value to provide for their room and board. If we want to give them healthcare and social security that is not unreasonable, but they should be allowed and required to produce something of value to mitigate their cost to society.

Sat, 06/04/2011 - 18:47 | 1340060 New_Meat
New_Meat's picture

You, Sir/Madame/Troll have hit the jackpot!  Wasting the possibility of doing something useful/economically beneficial by any individual is the true opportunity cost (loss).

The beautiful insight inside the American system (as previously executed) is that one is not chained into that "bottom 20 percent".

And the redistribution and/or Keynes arguments are proving their own failures.

- Ned

Sat, 06/04/2011 - 22:19 | 1340449 Bob
Bob's picture

Just as beautiful, in its own way, is what I regard as the fact that the majority of the American public would avidly support a Civilian Conservation Corp type of jobs program today.  Crumbling infrastructure, idle men . . . jeez, wonder what we should do about that sad equation?

The problem is all the "private" businesses fighting to maintain their clamp on the goobermint teat. The prevailing religion holds that money can only legitimately go to them. 

Which makes them more of a problem than the idle, to my mind. 

Sun, 06/05/2011 - 09:35 | 1341019 ibjamming
ibjamming's picture

Just think of what that $600 billion would have done for our infrastructure...and given people jobs to PAY their mortgage.  Instead of just giving it to the banks.

Sat, 06/04/2011 - 22:04 | 1340268 Quixotic_Not
Quixotic_Not's picture

bottom 20 percent

Truth is, the bottom 75-80% in 'MeriKa NOW couldn't come up with $2,000 cash within a month's timeframe - The bankster gutting of middle class wealth is fait accompli!

If only it was 20% that was about to become unemployable...

Sun, 06/05/2011 - 11:01 | 1341129 Prometheus418
Prometheus418's picture

$2000 cash in a month?  Whooo-hoo!  Who knew I was rich now?  Never figured having a wage-slave job would make me an upper 20%er!

Thank god for upward social mobilty due to the impoverishment of others, now if I can just get my pants to stop getting looser... 

Sun, 06/05/2011 - 10:42 | 1341115 centerline
centerline's picture

Dont disagree at all.

I would only suggest that there is a resource/populaton balance at work here as well.  A shifting, evolving balance.  But nonetheless, there must be limits.  What if we are simply beyond those limits now?  If so, there will be no way for everyone to provide enough value.  And the longer and greater the imbalance persists, the greater the correction.  Compound the problem of course by the social complexity we have grown into on the back of an unsustainable financial/economic model.  The failure of "money" as we know it becomes the trigger for the greater collapse.  A largely dumbed-down, incompetent, lazy, fat-ass, violent, welfare raised population meets collapsing supply chains.    

Mon, 06/06/2011 - 16:09 | 1344297 sethstorm
sethstorm's picture

And business has been complicit in driving these people to welfare, for the general lack of hiring.

Sun, 06/05/2011 - 13:42 | 1341402 sethstorm
sethstorm's picture

Governments are only putting in barriers to keep business from making these people slaves, as you suggest.  You wish to return to a time where nothing stopped a business from grinding these "servants" into a pulp, should they not worship the company town's line enough.   


How about breaking with tradition and making it a point to getting these people upward, the cost placed upon businesses to hire and train for secure & upwardly mobile work?  Instead of having a nebulous "competitiveness" canard to meet, actual requirements are met as they are needed.



Sat, 06/04/2011 - 16:46 | 1339842 Yen Cross
Yen Cross's picture

Quixotic, are you thinking? Are you thinking (SANITORIUM)

  I need some METALICA!!!!!!!!!!!!!!!

Sat, 06/04/2011 - 21:02 | 1340273 Quixotic_Not
Quixotic_Not's picture

I'm thinking more like The Unforgiven...

Never Free
Never Me
So I dub thee UNFORGIVEN
You labeled me
I'll label you
So I dub thee UNFORGIVEN
Never Free
Never Me
So I dub thee UNFORGIVEN
You labeled me
I'll label you
So I dub thee UNFORGIVEN
Never Free
Never Me
So I dub thee UNFORGIVEN

Sat, 06/04/2011 - 22:15 | 1340448 Rusty Shorts
Rusty Shorts's picture

,, Yen Cross meant something like this...


Sat, 06/04/2011 - 23:23 | 1340527 Yen Cross
Yen Cross's picture

+1 Bukkake. Rusty LMAO

Sun, 06/05/2011 - 01:20 | 1340664 OldPhart
OldPhart's picture

Pretty girl, too old to be my trophy wife, still waiting for that one to be born.

Sat, 06/04/2011 - 23:24 | 1340531 Yen Cross
Yen Cross's picture

Between you and Rusty. I'm unforgiven. Nice work gentlemen.

Sun, 06/05/2011 - 00:19 | 1340611 Rusty Shorts
Rusty Shorts's picture

I, State Your Name, forgive you Yen Cross

Sun, 06/05/2011 - 00:48 | 1340643 Yen Cross
Yen Cross's picture

  Thank You I'm still LMAO.  Rusty you are one in a MILLION!  Y`en.

Sat, 06/04/2011 - 23:34 | 1340552 merehuman
merehuman's picture

kept nose to grindstone. Business went from 1 house per week for 14 years to zero  for over a year, meanwhile caring for my dying mate the savings went , now she is dead, 2 of 3 dogs in pound, homeless now. Slept on concrete a few nights ago, am 60 and can see no future cept early death and welcome it. not suicidal but recognize the earth for the poor haven that it is. Humanity has no future on this ruined planet

Sun, 06/05/2011 - 01:07 | 1340651 BigDuke6
BigDuke6's picture

Hang in there buddy.

This shit isn't going to go on forever - revolution is in the air.

Sun, 06/05/2011 - 01:16 | 1340661 OldPhart
OldPhart's picture

Repeating, hang in there.  There's a lot of us fighting FOR you.  We're the non-boomer boomers.  The nerdy kids you thought were square.

Sun, 06/05/2011 - 01:58 | 1340686 Oh regional Indian
Oh regional Indian's picture

That is hard to hear mereh. I'll not comment on what you say about death and dying, too personal, but I do hear what you are saying.

I wonder how many here realize how close we all are.

Write in to me via my blog? I'll e-mail you.



Sun, 06/05/2011 - 05:25 | 1340760 Bicycle Repairman
Bicycle Repairman's picture

Loss of wife, house, dog.  The bluesman's trifecta.  It happened to me.  Even at 60 there is plenty of good life left.  If you're depressed, get angry and channel it productively.  Don't go quietly.

Sat, 06/04/2011 - 16:29 | 1339811 Imminent Collapse
Imminent Collapse's picture

We are all created equal.  After that, the shit hits the fan.  When people can't afford food, then the riots begin.  Won't be long.

Sat, 06/04/2011 - 17:46 | 1339924 AVP
AVP's picture

Once those welfare checks stop rolling into the ghettos of this Cuntry is when

mayhem will ensue. I'm sure the starving will riot first at the Nike store, best buy, polo and

when they get home realize they forgot food. Rinse and repeat...

A race (not civil) war would cut entitlements immensely!

Sat, 06/04/2011 - 20:10 | 1340210 francis_sawyer
francis_sawyer's picture

u got the order wrong...

They'll go after the ghetto labels first...

So I'd say..



2. Nike

3. BB

4. Popeyes Chicken



Sun, 06/05/2011 - 06:01 | 1340780 J in Vegas
J in Vegas's picture

So sad but yet so true. The useless eaters are the worst. As a bartender on the strip I deal with them (all 60% of the U.S. population) on a daily basis.

Sat, 06/04/2011 - 19:22 | 1340103 Greeny
Greeny's picture

Don't be so sure that they won't be after your fat A$$

to get your silver.. Praising about riots and sh*t you

better keep quite as noone will win betting against America.

Delusional punks, you think you going to be safe by

having few sticks of Gold?

Sat, 06/04/2011 - 16:36 | 1339828 Yen Cross
Yen Cross's picture

  Get va job. Stasi says so!

Sat, 06/04/2011 - 16:58 | 1339860 Cult_of_Reason
Cult_of_Reason's picture

Even the perma-bull Cramer said "stock prices need to fall" ~16%

It was a Freudian slip. He really thinks the stock market is ahead of itself and it is ~16% overvalued at Dow 12K+. Dow 10K is where Dow should be considering how weak the economy is...

"First, Cramer said stock prices may need to fall across the board. Should the Dow fall from 12,151 to 10,000, he thinks there would be a lot of buying opportunities."

Sat, 06/04/2011 - 18:32 | 1340028 pan-the-ist
pan-the-ist's picture

Dow 12,000 today = Dow 10,000 2 years ago thanks to inflation.  Contemplate what that means and then go back to sleep.

Sat, 06/04/2011 - 19:52 | 1340178 razorthin
razorthin's picture

Correct.  It's called a correction through time...especially priced in real money.

Sun, 06/05/2011 - 05:17 | 1340756 Bicycle Repairman
Bicycle Repairman's picture

It's the 1970s stock scam.  Nominal value stays flat while inflation adjusted value gets cut in half.

Sat, 06/04/2011 - 17:26 | 1339895 buzzsaw99
buzzsaw99's picture

The richest nations, with wealth in 2010 above USD 100,000 per adult, are found in North America, Western Europe, and among the rich Asian-Pacific and Middle East countries. They are topped by Switzerland, Norway, Australia, Singapore and France, each of which records wealth per adult above USD 250,000. Average wealth in other major economies such as the USA, Japan, the United Kingdom and Canada also exceeds USD 200,000...

Average wealth statistics are imo misleading. Bill Gates and one hundred debt slaves together in one room does not make for a healthy economy.

Sat, 06/04/2011 - 17:45 | 1339927 IdioTsincracY
IdioTsincracY's picture


Switzerland and Singapore also misleading ... since they are shelters for the Oligs crooks....

please allow some poetic freedom here:

FUCK Switzerland and Singapore!!


Sat, 06/04/2011 - 17:46 | 1339931 Yen Cross
Yen Cross's picture

 BUZZ U R  the best!

Sat, 06/04/2011 - 19:50 | 1340174 Roaming Uranus ...
Roaming Uranus Looking For Klingons's picture

Yen Crossover -- you are the worst.

Sat, 06/04/2011 - 20:05 | 1340197 Yen Cross
Yen Cross's picture

 Thank you for the complement. I asked for (YOUR) opinion on another thread.  Would you care to imbibe? I'm so juvenile! Thank you.


Sat, 06/04/2011 - 20:10 | 1340204 Roaming Uranus ...
Roaming Uranus Looking For Klingons's picture

Yen, my good buddy.  I left my opinion on the other thread.  Also slammed Greeny for his pathetic use of English.  My God, where do these fools come from?

Sat, 06/04/2011 - 20:10 | 1340208 Yen Cross
Yen Cross's picture

 I forgive you. I find it highly unlikely the Forum will. These people are REALLY smart!

      Yen Cross

Sat, 06/04/2011 - 19:28 | 1340121 razorthin
razorthin's picture

Correct.  Taking the Median always more appropriate in a skewed (non-normal) population.  Basic stuff.  But leave it to academia to choose the statistic dictated by their masters.

Sat, 06/04/2011 - 19:59 | 1340186 cara leaf
cara leaf's picture

I don't think Tyler implied the statistics signaled a healthy economy. 

As Dylan said, 'when ya' ain't got nothin' ya' got nothin' to lose.'  We're not there yet. We'll be there when unemployment runs out (& with it health insurance,) more houses are lost, you can't pay for college but your kid can't get a job. Ironically, those who, in the past, would've run a small family business are now behind cash registers (code: service job) at Wal-Mart or Costco. Buying stuff cheaper destroyed a whole way of life. And you can't have a democracy without a middle-class.

Sat, 06/04/2011 - 17:26 | 1339896 Racer
Racer's picture

Are these uber wealthy any different from osama bin laden? They kill people just the same as he did but probably on a far larger scale from starvation and poverty effects. They pay themselves massive amounts of money yet the workers not enough to feed themselves or their children.

Sat, 06/04/2011 - 18:54 | 1340067 Alcoholic Nativ...
Alcoholic Native American's picture

Osama was far far worse.  He was a monster!  The most evil man that ever lived imo. WTF is wrong with you?

Osama Bin Laden killed 3000 americans on 9/11/2001 you fucking idiot.  Thank God Obama killed him last May.


Sun, 06/05/2011 - 01:14 | 1340657 OldPhart
OldPhart's picture

Obama didn't kill him.  He dithered until pressure forced him to give the order to allow the men who held their sights on Osama for over a week to finally pull the fucking trigger.

Obama's decision skills are measured in months not milliseconds.

Sun, 06/05/2011 - 09:41 | 1341033 Alcoholic Nativ...
Alcoholic Native American's picture

The important thing is dumb senile geezers like you actually believe Osama died last May.  Mission Acomplished.

Sat, 06/04/2011 - 17:50 | 1339935 IdioTsincracY
IdioTsincracY's picture

There is no hope ...

30 replies on a thread like this ..

almost 800 o the 'Marxist' one ...

we are surrounded by morons!!


Sat, 06/04/2011 - 17:54 | 1339945 trav7777
trav7777's picture


The gender wage gap is a fraud.  If you peer into the stats, you find out how.  Women are actually paid more than men for equivalent jobs.

Men's jobs pay more as they tend to be far more dangerous.  Women don't seem to like going a mile underground to dig up rocks or onto exploding platforms to provide the rest of us go juice for our SUVs so we can go sit at desks and "work."

On racial inequality, well, the races aren't equal.  Black-sounding names get lower callback rates because of people's experiences having worked with blacks.  ANY time a black doesn't get what they want, they will cry racism and potentially sue everyone in sight.  You won't find that type of disparity between asian and white names because asians aren't toxic.

As for education disparities between the races, there are massive IQ disparities which lead to those.

Sat, 06/04/2011 - 18:01 | 1339960 delacroix
delacroix's picture

It's a tradeoff, look how good they can throw a ball into a hoop

Sat, 06/04/2011 - 18:06 | 1339962 IdioTsincracY
IdioTsincracY's picture

Of course, by peering into the stats, we find out that what you say is bullshit:

By looking at a very specific and detailed sample of workers – graduates of the Michigan Law School – economists Robert Wood, Mary Corcoran and Paul Courant were able to examine the wage gap while matching men and women for many other possible explanatory factors - not only occupation, age, experience, education, and time in the workforce, but also childcare, average hours worked, grades while in college, and other factors. Even after accounting for all that, women still are paid only 81.5% of what men “with similar demographic characteristics, family situations, work hours, and work experience” are paid.

Sun, 06/05/2011 - 09:32 | 1341021 swissbene
swissbene's picture

related: private industry study in 2010 focused on young adults with no kids in US urban markets.  this study finds strong pattern that women earn more, but does not control for industry or education.

writeup here:,8599,2015274,00.html

i have not seen a comprehensive analysis of the apples-to-apples question.  however, several caveats for the michigan study:

.. selection bias: lawyers, michigan law, earnings for year graduation+15

.. sample bias: ~50% response rate to survey [self selection], ~3x male:female ratio

.. research bias: there is also year graduation+5 survey/dataset -- these are simply ignored

.. model: crude log-linear regression of earnings vs questionable synthetic variables [eg 'demographics' is a single vector as is 'family characteristics']; model trained on overall population vs independently for each gender which makes little sense given the explanatory variables

even if the methodology and sampling were tight, the selection biases prevent any useful/general conclusions.

from the study: no difference in first year pay male vs female for students who graduated 1987-1993 [most recent available]

somehow things go off the rails between there and the provocative 'findings'.  recap: narrow scope and questionable/incorrect statistical reasoning.

related study:

Sat, 06/04/2011 - 18:16 | 1339983 Ray1968
Ray1968's picture

Trav, Don't forget that many women leave the workforce to raise children then re-enter when the kids are older.

Also, families are more likely to relocate when the man is offered a higher paying job out of town, but less likely if the woman is offered one.

none of this is gender bias or misogyny. Just choices people make.

Sat, 06/04/2011 - 20:18 | 1340216 francis_sawyer
francis_sawyer's picture

congrats... you just won 'fluffer of the day' award...

Sat, 06/04/2011 - 21:02 | 1340272 Ray1968
Ray1968's picture

Fluff this, bitch

Sun, 06/05/2011 - 01:07 | 1340654 OldPhart
OldPhart's picture

Made a deposit at the bank last week that exceeded $10k (company, not mine) and went through the FBI/HS bullshit about large deposits.

When they asked my occupation I told them "Porn Fluffer", the girl dutifully typed it in though she knew I was the Controller for our companies.

I have used all sorts of occupations for large deposits.  International Arms Dealer/Drug Dealer/Child Dealer/Child Pornographer/Warlord/Nigerian Banker/Russian Mafioso/Godfather/Crack Whore/United States Senator/United States Representative/Governor of California plus many more that I can't remember...and over the last eight years, not once, ever, has any dumbshit asshole from the FBI/HS or Secret Service ever appeared at my home or office with questions.

Sun, 06/05/2011 - 02:27 | 1340702 Mec-sick-o
Mec-sick-o's picture


What is your benefit on this behavior?

Sun, 06/05/2011 - 04:36 | 1340746 TheAlchemist
TheAlchemist's picture

I'd ask... what is he losing?  8 years and nothing....

Sun, 06/05/2011 - 23:41 | 1342438 OldPhart
OldPhart's picture

Self gratification abusing the "it's good for you security". 

I am absolutely legitimate, however there is no law saying you must accurately describe your true occupation. 

The whole thing is a farce to begin with, and it's my way of declaring the farce for what it is.

Mon, 06/06/2011 - 01:18 | 1342571 Mec-sick-o
Mec-sick-o's picture

"The whole thing is a farce to begin with, and it's my way of declaring the farce for what it is."

Thanks for the explanation, it is genius, LOL!

Sun, 06/05/2011 - 10:08 | 1341067 Dburn
Dburn's picture

You forgot "assistant crack whore". Now that would have done it.

Sun, 06/05/2011 - 12:24 | 1341245 dalkrin
dalkrin's picture

LMAO.. here's a few more ideas:  jizz mopper, circus pimp, Chinese gold-farmer, mouse tribe representative, phrenologist, evil sidekick, Federal Reservist, Brazilian waxer, or evenprofessional Zerohedge troll.

Sun, 06/05/2011 - 11:38 | 1341180 snowball777
snowball777's picture

don't worry, he'll never catch your DP ATM marathon award.

Sat, 06/04/2011 - 19:27 | 1340126 macholatte
macholatte's picture

You won't find that type of disparity between asian and white names because asians aren't toxic.


Why do they always pick on white folk?

Why not do a sample with black-sounding names against chinese employers?

White names against black employers?

Arab names against Mexican names?

And of course, that's all done in the USA. This global initiative never left it's office. Why not ask Korean employers in Korea about French sounding names. Nope. Just crusify the whites. Keep the data skewed and distorted.


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