Charting America's 0.1% Exceptionalism

Tyler Durden's picture

Lately Joseph Stiglitz' Vanity Fair article "Of the 1%, by the 1%, for the 1%" has gotten a lot of airplay. Unfortunately, Stiglitz appears to have been a decimal comma off. As Jeff Gundlach presents in a slide in his latest presentation, it is really about the 0.1%. And that's where America's exceptionalism (in three generations of theft from the middle and lower-classes) really shins through...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
augie's picture

I'm kind of new so I claim ignorance if this is common knowlege, but do people really get their financial news from vanity fair? is that why i can never time these damn swings? Jesus, all this time i thought i had to break my knuckles trying to learn finance and i could have just subscribed to a fucking magazine.

drink or die's picture

Welcome to the site.  You may find yourself asking the question "Do people really....?" a lot.

augie's picture

thanks for the welcome, from the look of it i'll be drinking alot more too.

treemagnet's picture

Friends don't let friends subscribe to Vanity Fair.

Anonymouse's picture

That is a fringe benefit (and must be reported as such on your 1040, don't forget).

Sudden Debt's picture

You just described my daily dilemmas in 1 sentence!

Congrats! +1000

linrom's picture

No they don't but main publications refuse to print real news especially if it deals with wealth accumulation and inequality. The only three that do are non financial publications such as The Rolling Stone, Vanity Fair and Mother Jones--they're probably owned by good Jews.

Interestingly the Jews went from supporting social and economic equality for which they were vilified by anti-semitic media to supporting global banker elites types and now vilify and attempt to neutralize those that are in favor of income and wealth equality now that they monpolized all the media outlets.

austin0388's picture

augie:  welcome to the site - you will find that there are a number of trolls planted on this site by the powers that be who are used in an attempt to deflect the focus away from the topics of the articles posted here.  One such troll is the bigot troll who posts sweeping generalizations about specific groups as if all members of such groups act and think in lock-step, organized in some nefarious way.  Bigot trolls have been used by TPTB down through the centuries as a way to get the masses to fight amongst themselves instead of focusing on where the true crimes are being committed.



Cdad's picture


Don't'll be fine.  Just buy shares of Apple tomorrow...premarket.  You'll be earning 20% by the second half of the session.  Rock on!

Cdad goin' on martini #2...

augie's picture

apple's Goin' to Da MOON just you wait and see, AAPL 400 by August. Ipads for everybody.



Buckaroo Banzai's picture

Vanity fair is for "opinion leaders," AKA white, liberal, upper middle class dopes who think they already know everything and thus don't have to think for themselves. Stiglitz is a socialist and a tool. This article, while accurately describing the symptoms (I'm guessing now because I haven't read this yet) doesn't come close to diagnosing the underlying disease (I'll bet). Sorta like Taibbi's article earlier.

NorthenSoul's picture

Oh! So you engage in name calling and political bullshiting w/o having read the article.


talk about a punk ass snob who pretend to know everything.

Cdad's picture


What name are you charging me of calling him.....Long Apple shareholder?

Fuck off, you thin-skinned twat.


treemagnet's picture

Exactly - stick with the meaty stuff like People, Us, or if you're feeling sassy, you could even branch out an read...dare I say, Cosmo. 

Arius's picture

yeah...taibbi's article was a bummer...the poor wifes got a make a living too...everyone else is stealing

Mark McGoldrick's picture

Not only does Taibbi understand the underlying disease, he explains it better than anyone. 

Go read his book "Griftopia". He even gives ZeroHedge a hat tip toward the end. 


augie's picture

Faber is the only "opinion leader" i listen to.

I love the liberal misconception that socialist entities benefit everyone. Yeah, especially when they are devaluing an asset that the middle lower class use exclusively because they can't afford to diversify into commodities or equities.


Skip to 5:55 if you don't want to watch the whole interview. I have to skip through becky's comentary for the sake of my blood pressure.

I guess the sarcasm about reading vanity fair didn't really come out as clear as i intended.

Matto's picture

Unfortanately there's a persistant subsection of 0H that have never and will never understand sarcasm. Just the way it is.

American Dissident's picture

You will fit right in here.  Only the Looters have access to the dark pools!

Muir's picture

No BS no hype no sarcasm.

VF is a GREAT read-period.

darteaus's picture

I'm getting hypnotized - turn them off.


long juan silver's picture

Looks like that Japanese bet on Pearl Harbour was poorly thought out.

Vlad Tepid's picture

Good point.  For all the effects, WWII might aswell have been planned by Japanese communists.


Looks like that American bet on the US Constitution after 1990 waspoorly thought out.

duo's picture

Half of Japan were sharecroppers on an acre or less of land before WWII.

Goatboy's picture

Worst of all kids.

Sarah Conner's picture

Why does this chart end at 2000... why not 2010?

Racer's picture

Looks like the US high earners are going to be hit with 70 years of falling income...

you can squeeze blood out of a stone just tooo long for your own good..

I cry not....

topcallingtroll's picture

The absolute level of wealth doesnt seem to matter to people. If you are in the top few deciles you still get a.lot more pussy in any era and at any level of material wealth.

And that is really why we chase wealth in the end....improved quantity and quality of pussy. Freud said so.

dark pools of soros's picture

right but the printer flows forever...

Rodent Freikorps's picture

It is always good to remember the French aristocracy thought they could use the proles to gain power over the crown.

How did that turn out?

NorthenSoul's picture

Turned out pretty bad for them IIRC. From the Jacobin regimen they implemented, (La Terreur) came the word "terroriste". (No kidding!)


Vlad Tepid's picture

Britannia doesn't rule this wave...

Zero Govt's picture

Britannia is in the exact same fuking boat ...Westminster and Washington are entirely inter-changeable only the British State parasites suck out 60% of GDP while the Apple Pie tape worms are only at 35% of GDP 

TheGreatPonzi's picture

Actually, every Western country is in the same boat, from Sweden to France. Is there an international plot? 

No, just eternal parasites, and democracy which lets them do... 

MrBinkeyWhat's picture

ZH published a histogram in Feb. it is actually another decimal point over...0.01%

For the few, by the few, frack the rest!

linrom's picture

We're back to the robber-barron age, an age full of instability, wars, and financial crisis. Depressions are great wealth equalizers. The chart goes only to 2000, by now we must be off the charts where UK was before the English empire just faded away for the next 100 years before bottoming in 1980s.

mynhair's picture

Is OKenyan on that chart?

Bob's picture

Do you work for the Red team?

JustACitizen's picture

Geez - I am surprised we are not up to our asses in expat Englishmen, French and Japanese folks. To listen to the folks talk about tax policy - shouldn't all of those people be fleeing to our wealth friendly shores? We have been assured that if we dain to tax the wealthy - they will all leave taking their ill-gotten gains with them and we will all be the poorer for it. I guess American Exceptionalism isn't that attractive compared with the fatherland/motherland/what have you.

Personally - I wish they would leave and take their wealth with them - it would be worth it to rid ourselves of them and their corrupting influence.

Rodent Freikorps's picture

Germany is rich. France is regaining control of her old colonies, so they don't much feel the pain.

The other countries? Who knows? The propaganda that they are superior because we are all barbarous cowboys is strong.

Probably best if they stay there. On average, 70% of those fleeing socialism, vote for socialism in the new country.

Crazy, but true.

The US used to be where people came for freedom and liberty, but that was before we became a welfare state. Now we draw the lazy scum of the world.


NorthenSoul's picture

" that was before we became a welfare state."

As this chart show clearly, the welfare state is limited to the 0.1%

Good catch!

Bob's picture

LOL  Useful idiots are in a spawning frenzy this spring.

Rodent Freikorps's picture

Big Government allows big theft.

Socialism is the tool of the .01%, Bob.

The Soviet leadership had their dachas. It is always the same.

Bob's picture

Say it three times while clicking your slippers, Rodent, and you'll be back in Kansas in a jiffy!  There's no place like home. 

Rodent Freikorps's picture

Do you not see all the welfare states failing before your eyes?

Europe can't continue now they can no longer draft on US military expenditures, and a healthy trade surplus with the US.

topcallingtroll's picture

Bob just thinks he deserves to take other people's money just because he is bob.