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Where The Wealth Is (and Is Not)

Tyler Durden's picture




 

On the heels of Wal-Mart explaining that America is anything but recovering, we thought a look at the state of the union's wealth would be useful. To wit, the following map of household incomes shows where the "haves" and the "have-nots" reside...

 


Source: Visualizing Economics

 

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Thu, 07/10/2014 - 19:28 | 4945471 Frankie Carbone
Frankie Carbone's picture

Maps out the Establishment perfectly. 

Thu, 07/10/2014 - 19:32 | 4945499 NOTaREALmerican
NOTaREALmerican's picture

Not really, look at the income scale:  it tops out at 138k.   That's borderline Trash Class range.     The top 10% are doing far better than that.   Would be more interesting to see where the top 10% live, THEN you'd see where the most-fit members of society are.  

Thu, 07/10/2014 - 19:35 | 4945514 knukles
knukles's picture

Love the top of Alaska
Energy and government handouts rolled into one.
Great quality of life.  Low cost of living, close to nature, kinda off grid, lots of hunting, fishing and shooting.  Lotta alcoholic neighbors for entertainment.  No imported brown kids with scabies.  Er, no kids with scabies.  Lots a good stuff going for it.  Like canned lettuce.  Yumie stuff.

Thu, 07/10/2014 - 20:11 | 4945625 wee-weed up
wee-weed up's picture

NYC... DC... and Hollyweird...

That's all you need to know about where the $$ are.

Thu, 07/10/2014 - 23:27 | 4946173 wee-weed up
wee-weed up's picture

 

 

Ha! Looks like my Lib "junk-n-run" troll has struck again with his down-arrow!

Sometimes I hit too close to home truth for his comfort level.

Fri, 07/11/2014 - 08:12 | 4946649 Keyser
Keyser's picture

Hmm, how does that map transform into this one?

http://fellowshipofminds.files.wordpress.com/2012/05/agenda21.jpeg

 

Thu, 07/10/2014 - 20:17 | 4945655 Moe Hamhead
Moe Hamhead's picture

There's three families living up there, each making $75K for watching the guages for Exxon.

Fri, 07/11/2014 - 00:47 | 4946333 CrazyCooter
CrazyCooter's picture

Knucks, I love you man! I don't always follow your humor, but you and Slewie are in a class of your own for sure.

  • Love the top of Alaska Energy and government handouts rolled into one.
    • Read "The Last Alaskan Barrel: An Arctic Oil Bonanza that Never Was"
  • Great quality of life.  
    • A'yup
  • Low cost of living, close to nature, kinda off grid, lots of hunting, fishing and shooting.  
    • Correction. Very high cost of living. If you want an idea, check gas prices and extrapolate. A'yup regarding all the other stuff.
  • Lotta alcoholic neighbors for entertainment.  
    • A'yup
  • No imported brown kids with scabies.  
    • A'yup. All the imports are white; "natives" (they don't use that lingo) have been here thousands of years. They are "brown".
  • Er, no kids with scabies. 
    • No knowledge - pass
  •  Lots a good stuff going for it.  Like canned lettuce.  Yumie stuff.
    • All food comes by boat or plane. No trains, no roads. Produce can be spotty. If weather is rough, ain't no produce except meat.

Thanks for keep'n everyone out of my trade, I don't want it getting crowded.

Regards,

Cooter

Thu, 07/10/2014 - 19:47 | 4945539 Frankie Carbone
Frankie Carbone's picture

No I disagree. I live 20 miles from Palm Beach, which is one of the wealthiest handful of square miles in the nation. Do you know where the "help" lives? Anywhere from 2-20 miles away. Palm Beach County as a whole dilutes, or skews the mean, even though we have quintillionaires, and the Board of Directors of America down in Palm Beach and Jupitor Island. 

Take a look at the corridor from Northern Virginia up to D.C (District of Cash-ola) through New England. That's the epicenter of serious wealth and the known residential region of The Establishment. The peasants that live among them are skewing the mean. 

Do you think they live in Gary, Indiana?

Thu, 07/10/2014 - 19:48 | 4945548 Jlasoon
Jlasoon's picture

You forgot about the folks in Picher OK. 

Thu, 07/10/2014 - 19:57 | 4945567 oklaboy
oklaboy's picture

there are still folks there?

Thu, 07/10/2014 - 20:02 | 4945586 Jlasoon
Jlasoon's picture

Sure, just not alive. 

Thu, 07/10/2014 - 19:57 | 4945564 Thirtyseven
Thirtyseven's picture

Yeah, a lot gets skewed.  Teton county, WY is dark green on the map, but most residences there are vacation homes. Actually, Wyoming is the only state outside of the east coast to sport no yellow spots on the map.

A lot of Maryland is dirt poor, but there is a lot of government money pouring in.  Delaware?  Only because of huge chemical companies like DuPont and a very corporate friendly (note: not necessarily small business friendly) tax climate.  Most residents are on level with West Virginia.

I'm not a fan of Averages.  Show me the MEDIAN.

Thu, 07/10/2014 - 20:07 | 4945601 cynicalskeptic
cynicalskeptic's picture

Something like 3% of the land in Teton County WY is privately held - the rest is mainly federally owned (National Park or Forest).  Some insanely expensive houses in Jackson Hole - part time residences even if claimed as full time (Wy has no income tax). The 'locals' can't afford Jackson Hole anymore and live over the pass in Idaho.

Thu, 07/10/2014 - 20:57 | 4945798 toady
toady's picture

Not just there, what's the deal with that darker green across north Nevada, Utah, and into Jackson Hole? I can see some darker green around SLC, (Mormons, $$$) but across that whole area?

Maybe a mix of Mormons and Dick Cheney & co.?

Fri, 07/11/2014 - 10:23 | 4946956 Agstacker
Agstacker's picture

The billionaires kicked all of the millionaires out of Jackson Hole years ago.

Thu, 07/10/2014 - 19:57 | 4945569 NOTaREALmerican
NOTaREALmerican's picture

That's true.   You've got to have lots of Trash Class supporting the top 10% with services, so it would drag down the income averages.   (Man,  just another example of how the smartest-n-savviest just can't catch a break.   The Trash Class even drags down their income averages on nationwide charts,   useless bastards!)

Sat, 07/26/2014 - 09:25 | 4947419 cchoo
cchoo's picture

deleted

Thu, 07/10/2014 - 19:28 | 4945472 overexposed
overexposed's picture

Lotta consolidation of wealth via Government, the way it looks to me.

Thu, 07/10/2014 - 19:29 | 4945474 NOTaREALmerican
NOTaREALmerican's picture

Survival of the fittest, BITCHEZZZZZ  !!!!

Thu, 07/10/2014 - 19:29 | 4945478 DanDaley
DanDaley's picture

No wonder I'm poor...living in the wrong county.

Thu, 07/10/2014 - 19:30 | 4945482 NoDebt
NoDebt's picture

It's not what you make, it's what you clear.  

Thu, 07/10/2014 - 19:34 | 4945506 Grande Tetons
Grande Tetons's picture

...and who your neighbours are. Idaho panhandle, Western Montana....or NYC. Kinda depends on what you want out of life. 

Thu, 07/10/2014 - 19:39 | 4945523 NoDebt
NoDebt's picture

I like my neighbors close enough I can yack with them when I want, but far enough away I can ignore them if I don't.

I'd need about 10,000 acres to strike the balance I'd prefer.  I'll a little short of that at the moment.

Thu, 07/10/2014 - 19:47 | 4945545 Grande Tetons
Grande Tetons's picture

I was lucky enough to live up there for awhile. My best friend was a bear named Dave. 

Not much of a talker more of a listener. 

Thu, 07/10/2014 - 20:34 | 4945730 NoDebt
NoDebt's picture

See, that's the kind of neighbors I'm looking for.  

Must be why I gravitate to working on old muscle cars.  They don't talk back either.  Just good listeners.

Thu, 07/10/2014 - 20:40 | 4945747 Grande Tetons
Grande Tetons's picture

I asked Dave once....is the Pope Catholic? 

  Dave, being the philosopher that he was, took a shit on my porch. 

Thu, 07/10/2014 - 21:01 | 4945814 NoDebt
NoDebt's picture

I see the wisdom in his reply.  I would take that to mean "you're asking the wrong question."

Thu, 07/10/2014 - 21:03 | 4945824 fonzannoon
fonzannoon's picture

I take it as he really had to take a shit.

Thu, 07/10/2014 - 21:07 | 4945834 NoDebt
NoDebt's picture

We all see what we want to see in things, Fonz.  Deal with enough people long enough and you know this to be true.

Thu, 07/10/2014 - 21:09 | 4945846 fonzannoon
fonzannoon's picture

That's true.

Grande did Dave mention anything about having to take a shit before you posed the question to him?

I bet we can get to the bottom of this.

Thu, 07/10/2014 - 21:12 | 4945859 Grande Tetons
Grande Tetons's picture

Not a word. 

 

Thu, 07/10/2014 - 21:16 | 4945867 fonzannoon
fonzannoon's picture

was he standing funny with a pained expression on his face?

Thu, 07/10/2014 - 22:33 | 4946077 NoPension
NoPension's picture

Answers the age old question; " does a bear shit in the woods?"

Thu, 07/10/2014 - 22:47 | 4946101 bilbert
bilbert's picture

Um..........

I think it answers the question:  "Is the bear Catholic?"

Thu, 07/10/2014 - 23:59 | 4946238 BlindMonkey
BlindMonkey's picture

GT. ask Dave what he thinks of investing in CYNK. I really want to know what he thinks.

Thu, 07/10/2014 - 19:59 | 4945573 Uncle Remus
Thu, 07/10/2014 - 20:11 | 4945612 Grande Tetons
Grande Tetons's picture

I will have you know that I am one of the guys who bought Fee Waybill's solo project LP back in the mid 80s. 

Talk to you later.

 https://www.youtube.com/watch?v=sLaekFFqgO0

Thu, 07/10/2014 - 20:27 | 4945704 Uncle Remus
Uncle Remus's picture

Is it me or does that sound a little Van Halenish with a twist?

Thu, 07/10/2014 - 20:36 | 4945736 Grande Tetons
Grande Tetons's picture

The Sammy Van Halen version perhaps.  

The production value of Foster and Fee's voice. There is the twist. 

I checked...Fee has almost no views for his solo work on YouTube. Nice to see he will continue to be a secret gem. 


 

Fri, 07/11/2014 - 09:24 | 4946785 Uncle Remus
Uncle Remus's picture

Agree on the Sammy Van Halen.

Fee is from my old stomping grounds, as is Alice.

Fri, 07/11/2014 - 01:08 | 4946362 mc225
mc225's picture

the guitar player is probably the dude from toto, who was/is a shredder in his own right. (steve lukather)

Thu, 07/10/2014 - 19:49 | 4945536 Jlasoon
Jlasoon's picture

"It's not what you make, it's what you clear".

 

Wrong!!! it's what you spend. Fuck the mall, screw Wal-Mart, learn to cook, grow some food, cut cable, stay away from high priced cell phone plans, stay away from big houses (money pit), don't drop 50k on a car, stop putting Chinese crap on credit cards, don't spend a $100/month on internet, stay away from restaurants, and move to state with low sales taxes and no income tax. It's surprising how well one can live if he or she controls their spending.

 

 

 

Thu, 07/10/2014 - 19:58 | 4945568 Pure Evil
Pure Evil's picture

Some of us were just born to shop.

Thu, 07/10/2014 - 20:08 | 4945606 Uncle Remus
Uncle Remus's picture

then drop...

Thu, 07/10/2014 - 21:04 | 4945828 NoDebt
NoDebt's picture

Yeah, like that guy at the mall in Jersey who jumped to his death off the 3rd floor balcony last year when his girlfriend refused to stop running up the credit card.

Thu, 07/10/2014 - 22:38 | 4946084 BKbroiler
BKbroiler's picture

we've all been there.

Fri, 07/11/2014 - 01:39 | 4946385 UselessEater
UselessEater's picture

enter ... the Metro-sexual male that accessorizes, manscapes, has beauty treatments and then asks "do I look good in this?" its so very man-like just ask a credit card company

Your hat strategically dipped below one eye
Your scarf it was apricot
You had one eye in the mirror as you watched yourself....

https://www.youtube.com/watch?v=b6UAYGxiRwU

 

 

Fri, 07/11/2014 - 07:21 | 4946574 de3de8
de3de8's picture

$100/month on internet, I wish

Thu, 07/10/2014 - 19:31 | 4945493 Spungo
Spungo's picture

Why is that one island of Hawaii so ghetto?

Thu, 07/10/2014 - 19:33 | 4945505 NOTaREALmerican
NOTaREALmerican's picture

That's the one Larry bought.    He's got almost no REAL income.   

Thu, 07/10/2014 - 19:49 | 4945551 NumNutt
NumNutt's picture

Actually the farthest one to the left is Niihau island and is privately owned, it is known as the "forbidden island". google Kieth Robinson, most likely he is not worried about 'income' or money, or silly stuff like that......

Thu, 07/10/2014 - 20:00 | 4945574 Pure Evil
Pure Evil's picture

Or about little brown kids with scabies and antibiotic resistant TB crossing his borders.

Thu, 07/10/2014 - 23:01 | 4946134 pods
pods's picture

That is insane.  Guy it seems has singlehandedly kept the island a preserve and is being pressured to "sell" it to the government.

pods

Fri, 07/11/2014 - 03:56 | 4946479 Serenity Now
Serenity Now's picture

The top two islands are Kauai, and to the left, Niihau.  Kauai is about the same size as Oahu (where Honolulu and Waikiki Beach are located), but only has 50,000 people compared to Oahu's 800,000.  Kauai is very rural.  

Niihau is the forbidden island.  Only a few native Hawaiians live there.  They are almost all on welfare and food stamps.  The Robinson family owns Niihau and most of Kauai.  They claim to be land wealthy but cash poor.  I've heard they are nice people.

Larry Ellison bought the island of Lanai.  It's to the left of Maui.  

Thu, 07/10/2014 - 19:34 | 4945494 seek
seek's picture

This really needs to be done by zip code and not county. The inequality is way more pronounced. You also get goofy things in the west due to things like reservations dragging down entire counties/states.

 

Here's a zip code based map by federal tax rates as a comparison.

You can see it's the tiny pockets of super-high earners that drag the county averages up in most cases.

Thu, 07/10/2014 - 19:51 | 4945556 socalbeach
socalbeach's picture

Right idea, but it's very possible to pay zero income taxes with substantial income if you own a lot of rental properties with leverage.  The non-cash expense depreciation can completely offset the cash income.  And you never sell, so you never have to re-capture the depreciation "expense". Upon death, the properties would be given to heirs with a new, higher cost basis.

There may be other legal ways to avoid income tax like investments in oil wells.  The wealthy effectively write the tax laws.

Thu, 07/10/2014 - 20:19 | 4945663 Harbanger
Harbanger's picture

I thought Obama's higher taxes for couples making $250,000 a year was targeting the rich, so they would pay their fair share. At least that's what the useful idiots believed.  The class warfare bullshit by the elites is only meant to destroy the middle class.  The end game is a two class system.

Thu, 07/10/2014 - 20:08 | 4945607 Thirtyseven
Thirtyseven's picture

A much better map, thank you seek.

One thing that really stands out: Ketchum, ID and Teton, WY. A darker patch of CO on the front slop from Ft. Collins down to Colorado Springs, and an even darker spot on the back slope of the mountains where Aspen and the other big resorts are (I ski so I know where these places are)

You can also make out the D.C. region and the northern (richer) Baltimore burbs as well as NY and Boston. 

Most of Delaware, WV and Virginia outside of D.C. and Richmond are all still dirt poor.

Poor Arkansas, but you can make out the capitol of Little Rock and Fayetteville.  The wealthiest spot in KS seems to be Witchita, and St. Louis is richer than KC.  I wonder how much Buffet brings up Omaha.

And check out that Bakken oil field!!!

My appologies for majoring in geography, not that it did much good, but at least it was free (thanks taxpayers) except for the sanity I lost (no limbs fortunately).

Another interesting spot is how all of Detroit's wealth seems to have made a checkered diagional around the northwest of the city.

Thu, 07/10/2014 - 21:07 | 4945837 potato
potato's picture

What do you think is going on in that Wyoming corner? Shale oil?

Thu, 07/10/2014 - 21:09 | 4945845 Thirtyseven
Thirtyseven's picture

Not the NW corner.  Front side (east side) of the rockies, maybe.  Isn't Niobara in the east?

Thu, 07/10/2014 - 19:34 | 4945508 honestann
honestann's picture

This chart totally ignores cost of living, which makes interpretation just about impossible.

Thu, 07/10/2014 - 19:39 | 4945520 Grande Tetons
Grande Tetons's picture

The dark green areas equal high cost of living...I did not even have to check....a guess that I am sure is correct. Kinda like Einstein ringing in accidentally on Jeopardy on the question Physics for 200. 

Fri, 07/11/2014 - 15:33 | 4948017 honestann
honestann's picture

WRONG.  You assume that cost of living exactly tracks income.  Not so.  While I have no doubt they track "on average", part of success and living a good life is to identify exceptions and take advantage of them.

Which means, a graph of "average pay" divided by "average cost of living" would identify places that are smart to live, and dumb to live (from a financial point of view).

Thu, 07/10/2014 - 19:38 | 4945521 NOTaREALmerican
NOTaREALmerican's picture

Especially when it tops-out at 138k FAMILY income.   Then entire 20% is lumped together, like we're all one big happy Elysium Class, or something.  I'm pretty sure the cost of sending your kid to live in Europe for a semester has gone up considerably.  

Thu, 07/10/2014 - 22:17 | 4946034 DeadFred
DeadFred's picture

I'm in a dark green area. Rent on a 3-1 house in an ordinary neighborhood is more than the 29K minimum in the lighter sections. $15/per hour has been minimum wage for some time which will work for you if you share the place with two other families.

Thu, 07/10/2014 - 19:34 | 4945511 J Pancreas
J Pancreas's picture

Too bad for West Virginia. Poor enough but not black enough to get any political or media attention. #dassrayciss

Thu, 07/10/2014 - 19:41 | 4945530 NoDebt
NoDebt's picture

And they dig coal out of the ground for a living.  That's one BAD combination if you want to have political influence or attention these days.

Thu, 07/10/2014 - 19:37 | 4945517 TrustbutVerify
TrustbutVerify's picture

Less shopping at WalMart may mean less purchasing of goods made outside the US - an interrption of the river-sized flow  of capital away from the US.   Not a bad thing.  

Thu, 07/10/2014 - 19:42 | 4945532 world_debt_slave
world_debt_slave's picture

the desert out west sure looks green

Thu, 07/10/2014 - 19:47 | 4945538 NOTaREALmerican
NOTaREALmerican's picture

All those oppressed dirt-poor ranchers squatting on evil-government land?

Thu, 07/10/2014 - 20:39 | 4945723 oddjob
oddjob's picture

Sure looks green around Elko.

Thu, 07/10/2014 - 19:43 | 4945537 CashCowEquity
CashCowEquity's picture

Lol, San Antonio still gay and poor.

Thu, 07/10/2014 - 19:54 | 4945560 Smegley Wanxalot
Smegley Wanxalot's picture

San Anton is very overrated.

Thu, 07/10/2014 - 19:50 | 4945553 Colonel Klink
Colonel Klink's picture

Gee imaging that, Jew York Shitty, Shitcago, the District of Crime, and Jackson Asshole are all dark green!  Hotbeds of scumbaggery.  Commiefornia gets a second mention.

Thu, 07/10/2014 - 22:59 | 4946131 the0ther
the0ther's picture

Haters gonna hate

Thu, 07/10/2014 - 20:05 | 4945592 grid-b-gone
grid-b-gone's picture

To live well without leaving the U.S., earn it in the dark green and live off it in a beige location.

I'd choose MN heading north on rte 53 from Duluth for the summer and central FL for the winter.

If I had property in Palo Alto, I'd have it up for sale now. Don't wait for that first tulip to go bidless.

Thu, 07/10/2014 - 20:11 | 4945622 john_connor
john_connor's picture

Let's not confuse income with wealth.

Thu, 07/10/2014 - 20:25 | 4945687 cynicalskeptic
cynicalskeptic's picture

Household income is pretty damn meaningless.  Median around here is over $200,000 but you're paying a minimum of $500,000 for an entry level house - which comes with $20,000 a year in property taxes.  EVERYTHING costs more and NY income taxes take a big hunk out of your income along with property taxes.  

Why live here?  - it's WHERE THE JOBS ARE.

Salaries are higher to reflect the higher cost of living but most people have a far lower standard of living here in NYC burbs than they'd have elsewhere with lower incomes.For years my tech school brother in NC had a far better standard of living - new cars, regular vacations, a house that cost what our ddownpayment was, minimal taxes.... BUT his kids were dumb as rocks - the local schools were godawful.  His income topped out and the plant he worked at was sold - he makes less now than 10 years ago with worse benefits.  No market if he wanted to sell his house.   I'll break even - or make money - whenever I want to sell my house, and there's always a market when you're a few stops out of Grand Central.  Our decent (but far from great) high school put a good number of kids in very good schools (with a far better basic knowledge base than you'd get elsewhere).  You've got access to NY and all it has - opposed to NASCAR being the only nearby 'cultural' outlet.

But six figure incomes here put you in the upper middle class - no more.  There are ridiculous amounts of money around in some places but our income is far closer to the absolute bottom than it is to any of those people.

Everyone makes a big deal about the 'Top 1%' but that 1% level makes you independent and wealthy in low tax low cost locales while merely average in others with higher taxes and costs.

The REAL measure is the top 0.01% where most of the income gains have gone over the past decade.   At that level mundane costs like property taxes and housing costs have a minimal impact on overall income and wealth.

Thu, 07/10/2014 - 20:25 | 4945692 kurt
kurt's picture

It looks like a crinkled up aluminun pan used to hold the roast turkey, with holes in it. Sure the pockets that don't immediately drain look better but the gravey is going out of the holes. Soon salmonilla will infest the whole pan and you shouldn't let the dog lick it. For now, assholes in the green, lord it over us lesser folks. 

When will you reverse Citizens United. Stop the attempts to privatize Social Security, stop Obama and all the global NWO freaks, especially the TPP and the ilk. Stop Agenda 21, stop Common Core and all organized propaganda. Use the ownership of the airways to steal back the media from the Zioputians.

Thu, 07/10/2014 - 20:52 | 4945779 1stepcloser
1stepcloser's picture

my county isn't mint green... to me it seems desert tan

Thu, 07/10/2014 - 21:11 | 4945854 potato
potato's picture

I have browser problems... the chart title won't load

please tell me this is a map of radioactive fallout 

Thu, 07/10/2014 - 22:30 | 4946067 quasimodo
quasimodo's picture

My county here in paradise is darker green, no doubt thanks to all the GMO corn and soybeans every square mile.

Thu, 07/10/2014 - 22:31 | 4946071 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

The largest concentration of 'Billionaires' is in New York City. London

has twice what the states has in terms of 'Billionaires'. London houses

the greediest of the greedy anal money hoarders this side of the drink.

Visualize their money in our pockets and forget the stupid chart above.

Just imagine the day when they are overthrown and the wealth transfer

comes back to our pocketbooks. In other words, eat the rich and OCCUPY our collective wealth that they transfered out of our lives

and occupations en masse over the last half century.

OCCUPY WALL STREET - OCCUPY EVERYTHING

Fri, 07/11/2014 - 00:58 | 4946352 syntaxterror
syntaxterror's picture

Maps out perfectly where presidente cocksuck spends her time.

Fri, 07/11/2014 - 10:12 | 4946925 svc101
svc101's picture

Please plot against any of the red-blue state voting stats of any of the last 3 presidential elections.

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