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The Fed Won: America's 0.1% Are Now Wealthier Than The Bottom 90%

Tyler Durden's picture




 

Game over, man: the Fed won.

As the Economist reports, according to a new paper by authors at liberal bastion UC Berkeley and the LSE, US inequality in wealth is approaching record levels (actually it already surpassed it as reported long ago).

"The authors examine the share of total wealth held by the bottom 90% of families relative to those at the very top. In the late 1920s the bottom 90% held just 16% of America’s wealth—considerably less than that held by the top 0.1%, which controlled a quarter of total wealth just before the crash of 1929. From the beginning of the Depression until well after the end of the second world war, the middle class’s share of total wealth rose steadily, thanks to collapsing wealth among richer households, broader equity ownership, middle-class income growth and rising rates of home-ownership. From the early 1980s, however, these trends have reversed. The top 0.1% (consisting of 160,000 families worth $73m on average) hold 22% of America’s wealth, just shy of the 1929 peak—and almost the same share as the bottom 90% of the population."

That was as of 2013. By now the wealth of the top 0.1% is not only well above that of the "bottom 90%" but higher than it has ever been.

Thanks Uncle Ben and Aunt Janet.

In other news, Janet Yellen, thoruoughly stumped by the causes of America's record wealth inequality, advises America's poor, already drowning in debt, to please build assets in order to "rise above."

 

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Tue, 11/11/2014 - 11:32 | 5436446 ShortTheUS
ShortTheUS's picture

Shared sacrifice...

 

...BITCHEZ!!!

Tue, 11/11/2014 - 11:36 | 5436458 TruthInSunshine
TruthInSunshine's picture

Janet Yellen/Bill Dudley to grant 0.25% FOMC loans to 99% to buy back their debt.

Tue, 11/11/2014 - 11:41 | 5436498 Publicus
Publicus's picture

Nothing  a little Ebola won't fix.

Tue, 11/11/2014 - 11:42 | 5436504 LULZBank
LULZBank's picture

They own it.

But their next problem is to maintan possession.

Tue, 11/11/2014 - 11:52 | 5436543 Shocker
Shocker's picture

This is what a Fed Recovery looks like

Layoff List: http://www.dailyjobcuts.com

-

Tue, 11/11/2014 - 12:08 | 5436602 Wait What
Wait What's picture

it must be ironic that Janet used to teach at that 'liberal bastion' that is UCB. Something must have happened to her brain between the time she left and became Fed chairtroll.

"do what we say, not what we do"

Tue, 11/11/2014 - 12:32 | 5436691 chumbawamba
chumbawamba's picture

Meh.  They have a bunch of paper and computer digits.  You'll pardon me if I'm not at all impressed.

II am Chumbawamba.

Tue, 11/11/2014 - 12:50 | 5436757 rocker
rocker's picture

Status Quo. Success. This is their job afterall. It's all about big money.

Now Comcast, Fox, Time Warner and Verizon want to control the Internet.

We will not be able to get Zero Hedge as a timely blog. Toll Gate, this lane please.  

Tue, 11/11/2014 - 13:21 | 5436900 Liberal
Liberal's picture

Please do not criticize these Jewish bankers in charge.  They've been persecuted throughout history and they're victims of never-ending racism that must be outlawed.  In short, they've suffered enough! 

Tue, 11/11/2014 - 13:35 | 5436962 NoDebt
NoDebt's picture

If the 1930s are any indication of what's the come from this point forward, it looks like it's going to get even more skewed before it corrects.

Buy stawks.  Because Yellen.  Or whatever.

Tue, 11/11/2014 - 15:22 | 5437387 The9thDoctor
The9thDoctor's picture

If the bottom 90% took Yellen's advice and bought assets with their $10 an hour salaries, then this wealth inequality gap wouldn't be so huge.

/sarc

Tue, 11/11/2014 - 13:40 | 5436979 ILLILLILLI
ILLILLILLI's picture

The salient question is *why* have they been 'persecuted'...

Insofar as they have been ejected from 90+ countries over time, one has to ask *why* that is.

Tue, 11/11/2014 - 14:08 | 5437098 NoDebt
NoDebt's picture

Bad luck?

Tue, 11/11/2014 - 16:26 | 5437683 messymerry
messymerry's picture

Personal hygiene issues...

Tue, 11/11/2014 - 18:45 | 5438213 SoilMyselfRotten
SoilMyselfRotten's picture

All it takes is hard work and determination to get into the 0.1% club. Why are you 99.9% such lazy, apathetic, pieces of shit?

Tue, 11/11/2014 - 16:21 | 5437662 IronForge
IronForge's picture

List and/or Source, Pls?  I know of GBR. 

Thanks.

Tue, 11/11/2014 - 18:56 | 5438258 Agent P
Agent P's picture

Because Obama...I mean Jesus.

Tue, 11/11/2014 - 13:41 | 5436984 TMLutas
TMLutas's picture

Toll Gate is a first world freaking problem. When the difference in getting text is measured in sub second increments, it isn't a real issue. You can fix the type of net neutrality that matters by a simple anti-fraud bill. The ISPs want to advertise Internet access by the highest speed available to their most favored content. You just define the speed they can use as their Internet access as their high speed on their slowest content type. 

Problem solved.

If they block a port, they can't advertise they have Internet access at any speed. If they slow down some P2P packets to 9600 bps, that's the fastest they can say your whole internet access is and that product won't sell. All the people who are port blocked and protocol slow downed into a parody of Internet access will finally be told what a travesty they are buying and maybe they'll switch to something else that actually gives them real Internet access and the power to be a producer as well as a consumer. And since this is an advertising regulation of weights and measures, it's actually constitutional (it's an explicit power of Congress) and it keeps the FCC out of my routers so it's full of win. 

Tue, 11/11/2014 - 12:50 | 5436763 Georgia_Boy
Georgia_Boy's picture

Unfortunately the 90 percent will not bother to learn what the Fed is and how money is not really money.  They won't push to undo the damage of financialization, currency printing, creeping socialism, labor arbitrage, and having 100 ill-concieved laws to avoid one good one.  They'll just push to tax the rich and grow the government some more.  They understand the following:  Those people have money and stuff, and I don't, so they need to give it to me.

Who knows, the knots of knots of distortions may yet be untied and things laid straight without burning the house down, but I don't know how that happens.

Tue, 11/11/2014 - 12:54 | 5436771 brockhardman
brockhardman's picture

I agree with Chumbawamba.  In the end, their fake money won't buy them much.

Tue, 11/11/2014 - 12:58 | 5436804 Ferrari
Ferrari's picture

As I see it those at the tippy top, those behind the central bankers, are not at all about wealth, but about power over eveyone else. We down here, up to the big bank CEO level are about chasing wealth. That obsession with the chase for wealth, with the assumption that the winners get a berth on the ark, is what keeps us all docile and in line. Correct me if I'm wrong.

Tue, 11/11/2014 - 13:20 | 5436896 highandwired
highandwired's picture

It's not just the ones at the tippy top that want to control everyone else.  The slaves love controlling other slaves too.  The Kapo mentality is so prevelant in our society that I cannot wait for the ship to sink to the bottom of the ocean.  For more absurdity, see this link where a 5 year old boy is being kicked out of his school for the crime of being related to his uncle:  https://www.youtube.com/watch?v=u1b8YZXqqRs

Tue, 11/11/2014 - 13:35 | 5436910 J S Bach
J S Bach's picture

"Game over, man: the Fed won."

 

Remember that "they" are just men like you and me.  Their perceived control over the plebs right now is merely that of trading power (money and its issuance).  When the masses finally wake up to their servitude, TPTB will be overwhelmed and justice will be meted out.  Be courageous to the end... it's all a matter of perception and deception.

Tue, 11/11/2014 - 13:39 | 5436980 zerozulu
zerozulu's picture

My hopes are hanging with ropes.

Tue, 11/11/2014 - 12:51 | 5436765 TahoeBilly2012
TahoeBilly2012's picture

Next year we go to global collapse and atempt at world currency, aka "mark of the beast". When that comes about you should better understand why they wanted .1% to have all the control. But it's obvious right? Those people have been selected to carry out orders to assist with all their organizations and no complaining.

Tue, 11/11/2014 - 11:59 | 5436561 Bemused Observer
Bemused Observer's picture

LOL! Yeah, and this is where the plan starts to unravel...It's always easier to make the pile than to defend it.

Tue, 11/11/2014 - 12:03 | 5436582 Mae Kadoodie
Mae Kadoodie's picture

Over?  Did you say over?  Nothing is over until...errr nevermind.

Tue, 11/11/2014 - 13:10 | 5436860 A Nanny Moose
A Nanny Moose's picture

"The Goddamed Germans got nuttin' to do wit it!" -Buford T. Justice.

Tue, 11/11/2014 - 12:06 | 5436589 LULZBank
LULZBank's picture

Rise of the private armies. XE, ISIS etc.

Reguler armies are being downsized and Police being given implicit green light and cover to extort from the populace as long as they be good dogs to the owners.

Read the trends and you would know the game.

Tue, 11/11/2014 - 12:10 | 5436604 LawsofPhysics
LawsofPhysics's picture

Bingo.  Glad I went long black markets and sharecropping...

 

FYI- define "wealth" for yourself.  "They" are where they are simple because sheeple still accept "their" paper promises.

Tue, 11/11/2014 - 12:33 | 5436692 tonyw
tonyw's picture

Since they're consistently increasing their fraction it doesn't look like it's a problem of possession more what to do with it.

Most Americans are easily duped with bread and circuses, all those guns, red/blue/republocrat,  police state (civil asset forfeiture) and what hapens?

Absolutely nothing, the same old, same old get voted back in with mostly the incumbents being re-elected.

 

Tue, 11/11/2014 - 13:30 | 5436937 Bangalore Equit...
Bangalore Equity Trader's picture

Listen TIS.

"Janet Yellen/Bill Dudley to grant 0.25% FOMC loans to 99% to buy back their debt."

"JESUS" this is an excellent comment.

Tue, 11/11/2014 - 11:36 | 5436459 TruthInSunshine
TruthInSunshine's picture

BTFD(ebt).

Tue, 11/11/2014 - 11:41 | 5436497 max2205
max2205's picture

20 and 20.....40

 

Where's the other 60%?

Tue, 11/11/2014 - 11:46 | 5436520 ZoroAustrian
ZoroAustrian's picture

Between 90% and 99.9%.  They ain't doin so bad either, by the looks of things.  I think they've mostly got their hands in Janet / Uncle Sam's pockets too.

Tue, 11/11/2014 - 12:31 | 5436687 Okienomics
Okienomics's picture

Obviously anyone with a little personal wealth MUST have their hands in the govt's pockets.  Doesn't that put you in the "You didn't build that" crowd?

Tue, 11/11/2014 - 12:39 | 5436722 ZoroAustrian
ZoroAustrian's picture

Hey I'm not saying there are no self-made men (or women) left, but they're getting a lot more scarce these days.

The 0.1% definitely have people who built big businesses (though many of these still exploit govt / banking, think Warren Buffet).  The middle tier may have some smaller real estate tycoons and the like (again, riding the debt wave to riches), but I'm sure there is a huge (greater than half) representation of inheritance, finance, or agency (i.e. CEOs with big options and salaries) in that cohort.  So no, they didn't build that.

And as good an example as any of today's self-made man is Zuckerberg.  Ok, he built that.  But it sure isn't worth what the market says it is.  And his growing wealth is also mostly a figment of distorted markets (thank you Janet) than the result of his innovation.

 

Tue, 11/11/2014 - 13:56 | 5437046 adr
adr's picture

You really think Zuckerberg is a self made man?

The guy barely has enough brain power to get dressed in the morning. He is the best example of how connections and CIA seed money can make a worthless hack into a billionaire.

A self made man makes his money from something he built himself and the sales generated from it, not by using the scam engine stock market.

Henry Ford was a self made man. It wasn't until he was older and the kids got restless that Ford went public. He also hated Jews and the central banking system.

Tue, 11/11/2014 - 14:09 | 5437106 ZoroAustrian
ZoroAustrian's picture

Thanks adr, I don't disagree with any of that, really.  I didn't see The Social Network, don't really know who exactly built it, and don't really care.  I do know it's a very good example of what a joke our economy has become.  And there are so many others ...

Tue, 11/11/2014 - 11:48 | 5436530 headhunt
headhunt's picture

The FED and the Chinese

Tue, 11/11/2014 - 13:20 | 5436893 Bangalore Equit...
Bangalore Equity Trader's picture

Listen TIS.

Excellent comment. So rich and full bodied. Obviously from a brilliant Zero with a track record of excellent comments.

Your the best man.

Tue, 11/11/2014 - 13:39 | 5436918 TruthInSunshine
TruthInSunshine's picture

I love you like a sibling.

Tue, 11/11/2014 - 11:36 | 5436470 junction
junction's picture

Yes, but to even things out, we all have equal shares of the National Debt. 

Tue, 11/11/2014 - 13:03 | 5436827 Perimetr
Perimetr's picture

The games not over until it hits 100% . . . stay tuned.

Tue, 11/11/2014 - 14:33 | 5437193 Defiated
Defiated's picture

..speaking of sacrifice...any truth to the rumor that 'organs are harvested from dying US Soldiers'?..

Tue, 11/11/2014 - 14:45 | 5437230 Defiated
Defiated's picture

oops

Tue, 11/11/2014 - 14:45 | 5437231 Defiated
Defiated's picture

X2

Tue, 11/11/2014 - 15:30 | 5437415 Aeternus
Aeternus's picture

Well.... Atleast I have a little bit of gold still.

 

https://www.youtube.com/watch?v=Od9D6TECSa0

Tue, 11/11/2014 - 11:34 | 5436453 Glass Seagull
Glass Seagull's picture

 

 

1.) Distributed costs

2.) Concentrated benefits

Tue, 11/11/2014 - 12:24 | 5436657 Took Red Pill
Took Red Pill's picture

It used to be if a company did well, it shared the wealth with it's employees. Now, the workers get screwed as much as possible and the fruits of their efforts go to the shareholders.

Tue, 11/11/2014 - 12:33 | 5436697 Okienomics
Okienomics's picture

Sam Walton, is that you?

Tue, 11/11/2014 - 11:36 | 5436461 besnook
besnook's picture

don't pick on the rich. i want the same rules in place when i get there.

Tue, 11/11/2014 - 11:37 | 5436484 headhunt
headhunt's picture

It's not the rich but the rich who play the fascists/communism game.

Tue, 11/11/2014 - 12:12 | 5436611 False Capital
False Capital's picture

When you get there, make sure you add some new ones to make it harder for everyone else.

/s

Tue, 11/11/2014 - 14:01 | 5437074 Raging Debate
Raging Debate's picture

Besnook - Yeah but you'll be dead in forty or fifty years when China goes off it's gold standard and you can lever up in paper and bribe there politicos. Leave a tomb of knowledge for your offspring...

As for me making money during this slow motion collapse and have plans post collapse in innovation. Knowing how the game is played is 90% of the battle, the rest is effort.

It is wise to hedge in transitory times. I like real-estate and gold in that order, plus the 3 B's (beans, bullion, bullets) if things get really nasty.

Tue, 11/11/2014 - 11:36 | 5436462 mtndds
mtndds's picture

Dont fight the Fed.  He who has control over the money controls everything.  Hmmm, now where did I hear that before.

Tue, 11/11/2014 - 14:34 | 5437204 Defiated
Defiated's picture

local synagouge?????

Tue, 11/11/2014 - 11:40 | 5436463 JustObserving
JustObserving's picture

Fascism always works for the 0.1%.  The rest you control with infinite spying, GMO foods, fluoridated water, fake media, corrupt politicians, manipulated markets, captured regulators and a militarized police. Forward.

Tue, 11/11/2014 - 11:47 | 5436519 LULZBank
LULZBank's picture

Do they actually get to enjoy it?

They must be one fucked up individuals.

Tue, 11/11/2014 - 11:56 | 5436539 JustObserving
JustObserving's picture
Psychopaths will be psychopaths:

 

Which professions have the most psychopaths? 

1. CEO

2. Lawyer

3. Media (TV/Radio)

4. Salesperson

http://boingboing.net/2012/12/31/which-professions-have-the-mos.html

Tue, 11/11/2014 - 12:12 | 5436618 the not so migh...
the not so mighty maximiza's picture

i dont see bankers on that list,  that list is bs

Tue, 11/11/2014 - 12:32 | 5436651 JustObserving
JustObserving's picture

If you read the list, few occupations were covered (politicians are also not).  But a banker has all the characteristics of the top 4 psychopathic professions.

Tue, 11/11/2014 - 12:36 | 5436711 Okienomics
Okienomics's picture

How does one determine the # of psychopaths in a profession, a survey? 

Tue, 11/11/2014 - 13:04 | 5436834 JustObserving
JustObserving's picture

You ask them if they support the Fed.  Or they can take the "Are you a Psychopath test?"

http://edition.cnn.com/2014/05/29/business/psychopath-test-infographic/

 

Tue, 11/11/2014 - 12:38 | 5436716 FeralSerf
FeralSerf's picture

You don't see the Rothschilds on any lists of billionaires either, do you?

Re: both lists -- Why is that?

Wed, 11/12/2014 - 15:27 | 5441200 fallout11
fallout11's picture

Because, at an estimated net worth of 600 trillion, they are trillionaires, not billionaires.
You also do not seen the fake Windsor's (actually Hesse, Saxe-Coburg-Gotha, etc...they're all Germans) on that list, either.  Yet Queen Elizabeth IIhead of state of the United Kingdom and of 31 other states and territories, is the legal owner of 6,600 million acres of land, one sixth of the earth's non oceanic surface, and the largest landowner on the planet.

Tue, 11/11/2014 - 14:38 | 5437210 Defiated
Defiated's picture

2 becomes 1 becomes 3/4...no?

Tue, 11/11/2014 - 12:00 | 5436564 Ironmaan
Ironmaan's picture

And don't forget government control over your health. Tell this asshole what you think of him and if we're lucky he'll kill himself.
http://economics.mit.edu/faculty/gruberj

Tue, 11/11/2014 - 11:35 | 5436464 Infinite QE
Infinite QE's picture

Global Gaza, bitches.

Tue, 11/11/2014 - 11:46 | 5436517 TruthInSunshine
TruthInSunshine's picture

"They gonna put y'all back up in chains!"

-- Z28 T-Top Biden

Tue, 11/11/2014 - 13:23 | 5436905 Bangalore Equit...
Bangalore Equity Trader's picture

Listen.

Excellent comment.

Tue, 11/11/2014 - 11:35 | 5436468 q99x2
q99x2's picture

Good now that everyone knows who has all the money shouldn't be too difficult for the revolutionaries to get it back and then to redistribute it properly. One thing you don't want to have during a financial collapse is a lot of wealth.

Tue, 11/11/2014 - 11:36 | 5436474 headhunt
headhunt's picture

Brought to you by the redistributed properties of the leftists, fascists and communists in today's government.

Tue, 11/11/2014 - 11:38 | 5436480 maskone909
maskone909's picture

Fed didnt win sheeeit. It just hasnt lost yet

Tue, 11/11/2014 - 11:38 | 5436485 FreeShitter
FreeShitter's picture

They havent won just yet, when they get their NWO then you can declare victory.

Tue, 11/11/2014 - 11:40 | 5436494 pitchforksanonymous
pitchforksanonymous's picture

All that fiat currency will be useless when you have a pitchfork in your ass.

Tue, 11/11/2014 - 11:41 | 5436496 Jonathan Equine...
Jonathan Equine Phallus's picture

On a long enough timeline....

the house always wins.

Tue, 11/11/2014 - 11:42 | 5436499 Kaiser Sousa
Kaiser Sousa's picture

keep voting and saving in the debt coupon dollar and you too can join the 0.1%...

now march willing debt slaves....

Tue, 11/11/2014 - 11:42 | 5436500 SharkBit
SharkBit's picture

All I can say is one fucked up system!

Tue, 11/11/2014 - 11:43 | 5436510 BadDog
BadDog's picture

The Fed has been a tremendously successful enterprise.  It has operated exactly as it was designed to, and the husk that was the American experiment will now be left to be blown into the dustbin of history.  What is really sad though is the deceived population of the U.S.A. doesn't even have a clue as to what happened to them.  Perhaps scolars from another time and another country will one day ink it.

Tue, 11/11/2014 - 11:45 | 5436515 FreeShitter
FreeShitter's picture

Born on planet earth? Maybe your Karma will be better next time.

Tue, 11/11/2014 - 13:44 | 5436998 Kayman
Kayman's picture

 "Perhaps scolars from another time and another country will one day ink it."

   Scholarship is bought and sold like any other commodity.  Ivy league schools are preparing the message that not enough money was printed for the criminals at the top. Kruggy is a good example of academic "truth".

Tue, 11/11/2014 - 11:47 | 5436522 Notsobadwlad
Notsobadwlad's picture

The graph shows the obvious.

The 0.1% and the bottom 90% worked together through the 80s and the computer boom when the US was alive with manufacturing and value adding labor.

After that, financialization took over and manufacturing was systematically transferred offshore, first to the Four Tigers and then to China.

I suspect that there will be confirmatory charts in those areas showing that countries boom when there is value adding labor contributing to the economy and there is a hollowing out and bust when the bankers take over and suck the life out of any strong economy.

Tue, 11/11/2014 - 12:22 | 5436653 tarsubil
tarsubil's picture

Buybacks are the final step it seems. Take all profits and cheap debt to buy overpriced financial products while production capacity slowly fades and becomes obsolete. It ends with a whimper.

Tue, 11/11/2014 - 11:48 | 5436527 all-priced-in
all-priced-in's picture

If you give each family in the bottom 10% $5 million cash-

 

Come back and check in on them in 5 years.

 

Would they be any better off than they were before getting the $5 million?

 

Sure a few would be - but I will bet most are worse off - 

 

Am I wrong?

 

 

 

Tue, 11/11/2014 - 11:54 | 5436546 Clowns on Acid
Clowns on Acid's picture

Look at pro athletes that get that kind of lump sum payment...

Tue, 11/11/2014 - 11:58 | 5436558 kchrisc
kchrisc's picture

Interesting point, and most would be worse off in 5 years.

However, in reality most people want to earn, take care of their families, and get ahead. That is difficult to do against the FedRes' counterfeit tide and the DC US' tyranny.

So don't give anyone $5mil., but prevent the theft by way of counterfeit of $5mil. per person, and I think that the "bottom" will be just fine. The "bottom" thrived fine before 1913.

An American, not US subject.

 

"If you gave me $5Mil., I'd piss it away on gold, guns, grub, ground, and guillotines. And I'd sneak some beer and BBQ too."

Tue, 11/11/2014 - 12:32 | 5436693 BKbroiler
BKbroiler's picture

most would be worse off in 5 years.

I disagree, but maybe I have to much faith in people.  With 5 mil you can set yourself up for (a modest) life.  
Tue, 11/11/2014 - 16:21 | 5436748 all-priced-in
all-priced-in's picture

The thing is - most people would start out by blowing a few million on stuff that costs a lot of money to maintain.

 

Fancy house, high end cars, expensive toys all take cash to maintain.

 

Even if you start off with $5 million the key is still living within your means - not spending more than you are earning.

My guess is after 5 years most would be not only penny-less but also deep in debt.

 

 

 

 

 

Tue, 11/11/2014 - 12:07 | 5436592 WTFUD
WTFUD's picture

Yes probably but the top .01-1% have priced those factors in.s/c However the top 10% are as gullible to the nuances of the .01% who use these equally dumb fucks to do their bidding and when the hangings begin guess whose up first on offer. .

Tue, 11/11/2014 - 12:14 | 5436622 LULZBank
LULZBank's picture

 

Would they be any better off than they were before getting the $5 million?

 

Get them a crooked politician and a banker too and access to the crony circle, while you are at it, and then check how it worked out?

If it still doesn't then implant the psycopathic genes.

Tue, 11/11/2014 - 12:20 | 5436645 all-priced-in
all-priced-in's picture

So some think that the majority of people in the bottom 10% would not blow the cash on bling, drugs, booze and other worthless crap?

 

That they would have instead invested the money and in 5 years have $7-8 million or more in wealth?

 

If you really believe this then you obviously don't know anyone in the bottom 10%.

 

 

 

 

Tue, 11/11/2014 - 12:24 | 5436660 tarsubil
tarsubil's picture

A perfect example why you don't arbitrarily give people millions of dollars. You think the 0.1% are different from the average trailer home resident and handling the money well? Right.

Tue, 11/11/2014 - 12:38 | 5436719 all-priced-in
all-priced-in's picture

Odd question.

 

The people that built their own wealth obviously have greater skills other wise they would not have been able to acquire it in the first place.

 

Even if it is inherited -

If someone is unable to manage money they they would lose it - so then they would not be in the top .1% any longer.

 

What am I missing?

 

 

Tue, 11/11/2014 - 12:46 | 5436746 FeralSerf
FeralSerf's picture

"Am I wrong?"

No, but why do suppose that is? I suggest it's because the Zioligarchs at the top have most of those in the bottom 10% -- actually the bottom 99% -- very well trained, conditioned, and brain-washed. This is the result of their ownership and control of all the media, "news" and entertainment -- the 99% watch a lot of circus (magazines, TV and movies) -- and their control of the curriculum in the compulsory public "education" system.

Tue, 11/11/2014 - 12:52 | 5436768 all-priced-in
all-priced-in's picture

So the reason they can't get ahead is because the rich have taken away their free will?

 

What a load of shit -

 

 

 

 

Tue, 11/11/2014 - 13:03 | 5436824 lesterbegood
lesterbegood's picture

It is because BEings unwittingly gave their consent.

Tue, 11/11/2014 - 14:13 | 5437090 FeralSerf
FeralSerf's picture

Either you believe in "free will" or "cause and effect". Both cannot coexist in the same universe. I believe in cause and effect.

"If we understand the mechanism and motives of the group mind, it is now possible to control and regiment the masses according to our will without them knowing it."

"The conscious and intelligent manipulation of the organized habits and opinions of the public is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country." Edward Bernays

Tue, 11/11/2014 - 11:49 | 5436529 WTFUD
WTFUD's picture

I just love happy endings! s/

This is not the end of the beginning nor . . . . 'cause by beginning at the end of the beginning we. . . . end up in the jerk circle with no beginning or end. .

Taylor Swift

Tue, 11/11/2014 - 11:51 | 5436538 AdvancingTime
AdvancingTime's picture

Those who look closely understand that it is not the 1% at the top stealing the icing off the cake, but the much smaller .1% or .01% that are skewing the numbers and overreaching.

I contend the biggest problem is the massive growth in crony capitalism and corruption in Washington. Much of this can be attributed to the ability of those in control "changing the rules" and positioning themselves to benefit at every corner. In our busy and complex world we have found it impossible to watch all the moving parts. More on how this leads to collapse in the article below.

http://brucewilds.blogspot.com/2014/05/how-empires-collapse.html

Tue, 11/11/2014 - 12:16 | 5436629 venturen
venturen's picture

just think Eric Schmidt of the "Do No Evil" Google "advised" Obama on how to get elected! 

Tue, 11/11/2014 - 12:59 | 5436798 daedon
daedon's picture

Google started doing evil when they hired Schmidt in 2001.

Tue, 11/11/2014 - 13:02 | 5436818 daedon
daedon's picture

 "...massive growth in crony capitalism and corruption ..." ??? How can you seriously claim there is any growth left in those two departments ?

Tue, 11/11/2014 - 11:54 | 5436544 yogibear
yogibear's picture

Act of desperation because they know they have to continually prop up stocks and the rest of the economy with 0% rates and QE to infinity.

Look for QE4, QE5 and so on in 2015.

Deficits go from $18 trillion soon to $25 trillion quicker than expected.

The US is Japan #2.

Tue, 11/11/2014 - 11:54 | 5436553 Bell's 2 hearted
Bell's 2 hearted's picture

yellen can not be more out of touch ... one of her 4 cornerstones to get ahead? ... inheritance! ...

 

"In my remarks, I will review trends in income and wealth inequality over the past several decades, then identify and discuss four sources of economic opportunity in America--think of them as "building blocks" for the gains in income and wealth that most Americans hope are within reach of those who strive for them. The first two are widely recognized as important sources of opportunity: resources available for children and affordable higher education. The second two may come as more of a surprise: business ownership and inheritances."

 

http://federalreserve.gov/newsevents/speech/yellen20141017a.htm

Tue, 11/11/2014 - 12:02 | 5436573 BurningFuld
BurningFuld's picture

Resources available for Children. Like learning how to sell crack?

Affordable higher education. Is this a Comedy Central skit?

Tue, 11/11/2014 - 11:59 | 5436560 SelfGov
SelfGov's picture

Undoing Reagan's tax "reforms" in the 80s would go a long way towards solving this problem and the national debt...

 

 

http://www.advisorperspectives.com/dshort/charts/policy/debt-to-gdp.html...

Tue, 11/11/2014 - 12:02 | 5436575 Suisse
Suisse's picture

It's from ponzi entitlements and liberal social engineering policies. 

Tue, 11/11/2014 - 12:46 | 5436735 ersatz007
ersatz007's picture

Huh?  Please explain.  If by 'ponzi entitlements' and 'liberal social engineering policies' you mean that some rich bankers have given away American technology along with the middle class's jobs, tax money and savings in a manner that benefits themselves then I guess we agree.  Them rich bankers have been very LIBERAL in socially engineering money out of my pocket and into theirs. 

Tue, 11/11/2014 - 12:27 | 5436670 all-priced-in
all-priced-in's picture

So higher taxes - give more money to Washington will solve the problem?

 

Great idea - let's tax and redistribute ourselves to prosperity!!

 

 

 

 

Tue, 11/11/2014 - 12:56 | 5436788 daedon
daedon's picture

Only the government can creat jobs, it's true, Hillary said so.

Tue, 11/11/2014 - 12:47 | 5436751 ersatz007
ersatz007's picture

Instead of just assuming 'less taxes works more better', folks should read David Stockman's book "The Great Deformation" and they would see that SelfGov is correct.

Tue, 11/11/2014 - 13:41 | 5436986 The Most Intere...
The Most Interesting Frog in the World's picture

Your first step should be, stop reading Doug Short and Advisor Perspectives!  Best I can tell, the man is a communist leftist statist hack.

Tue, 11/11/2014 - 12:02 | 5436571 general ambivalent
general ambivalent's picture

Actually, in Monopoly the game doesn't end unless the last person has no money to pay for hotels. When I was a kid I'd play this with my younger cousins, and when they landed on hotels near the end game I'd just redistribute a little bit of funds to extend the game.

Basically the banker world mafia is acting like 8- and 6-year olds trying to extend a game indefinitely.

I'm general ambivalent, and I was a psyop keynesian as a child. Sorry, I just didn't know better.

Tue, 11/11/2014 - 12:04 | 5436580 Spastica Rex
Spastica Rex's picture

The top 0.1% vs the rest of us is a nice story.

We're all in this together - well, except for the FSA, of course.

Tue, 11/11/2014 - 12:54 | 5436778 daedon
daedon's picture

Does "We're all in this together " refer to the .001% of the 99% who are aware of what's going on ?

Tue, 11/11/2014 - 12:06 | 5436593 starman
starman's picture

Murica, champagne wishes caviar dreams!  

Tue, 11/11/2014 - 12:13 | 5436617 daxbr
daxbr's picture

Last time around, it was called.... Collectivization (??????????????; kolektyvizatsiia)

Tue, 11/11/2014 - 13:08 | 5436849 FeralSerf
FeralSerf's picture

That Zionist inspired "Collectivization" was the proximate cause of America's giant military buildup and power grab that benefited primarily the western Zioligarchs. All the productive assets flowed to the Zionists on BOTH sides and away from the Goyim.

Raygun -- really the behind-the-scene string-pulling, Hinkley-shooting Bushes -- was instrumental in speeding up the process in the 1980s.

Tue, 11/11/2014 - 12:14 | 5436621 fiftybagger
fiftybagger's picture

From that chart it looks like we need another depression to turn things around.

Tue, 11/11/2014 - 12:14 | 5436623 venturen
venturen's picture

I guess world war fixed it last time!

Tue, 11/11/2014 - 12:27 | 5436668 Mi Naem
Mi Naem's picture
U.S. veterans sue banks, claim they should pay for Iraq attacks

I got my hopes up when I saw this.  Unfortunately, they're not suing all the right banks, and for any of the right reasons. 

Tue, 11/11/2014 - 12:36 | 5436703 Bighorn_100b
Bighorn_100b's picture

The FED may have won the battle, but, the savers are pissed off and will win the war.

Tue, 11/11/2014 - 12:45 | 5436739 buzzsaw99
buzzsaw99's picture

wrong. those who lever up and buy every bullshit ipo that comes down the pike will end up winning.

Tue, 11/11/2014 - 12:50 | 5436761 Bighorn_100b
Bighorn_100b's picture

That's your opinion not mine. I'll keep stacking, thank you very much for your input.

Tue, 11/11/2014 - 12:52 | 5436767 daedon
daedon's picture

They will start with Deflation to take care of the borrowers, followed by Hyperinflation to take care of the savers. It's been done before, it will be done again.

"When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany" - by Adam Fergusson

 

Tue, 11/11/2014 - 13:48 | 5437016 ILLILLILLI
ILLILLILLI's picture

A good book...worth the read.

Tue, 11/11/2014 - 12:38 | 5436714 buzzsaw99
buzzsaw99's picture

funny how that works

 

Whoever has will be given MOAR, and they will have an abundance. Whoever does not have, even what they have will be taken from them. [/matthew 13:12]

Tue, 11/11/2014 - 12:54 | 5436756 mayhem_korner
mayhem_korner's picture

 

 

Out of context.  Need to read Matthew 13:11 and preceding.  The thing that for which more is to be given is not "stuff" and "wealth", it is the knowledge of the secret of the kingdom of heaven.

 

Funny how those parables work.

Tue, 11/11/2014 - 13:01 | 5436815 buzzsaw99
buzzsaw99's picture

funny how you fail to appreciate my use of the unleavened term "MOAR"

Tue, 11/11/2014 - 13:04 | 5436832 mayhem_korner
mayhem_korner's picture

 

 

Jus' trying to protect the truth, Mr. mutant sir.

Tue, 11/11/2014 - 13:08 | 5436851 buzzsaw99
buzzsaw99's picture

The truth will set you free, but first it will piss you off. Gloria Steinem

Tue, 11/11/2014 - 12:42 | 5436731 tuhaybey
tuhaybey's picture

Check out how much of our GDP we dedicate to the top 0.1% compared to things like the military, food stamps, the debt, etc.  It is entirely irrational.  Nobody would argue that that is either a sensible way for policy to allocate GDP nor a plausible result of a properly functioning free market.  We're at a point now where employers are keeping as much of what workers produce as the workers do.  We need to attack the problem on both fronts- restore healthy functioning of the market and counteract the problem with tax and regulatory policy.  Neither approach is enough on its own.

Tue, 11/11/2014 - 12:52 | 5436774 WTFUD
WTFUD's picture

@ tuhaybey

. . . but the top .1% distribute the military budget and get the QE Slurp and the tax avoid creatives and and and . .

Tue, 11/11/2014 - 12:42 | 5436734 Sean7k
Sean7k's picture

What have they won? The wealthy purchased all their assets with debt notes issued by central banks. This makes those assets collateral against all the sovereign debt of the world. This makes the wealthy slaves to the powers that be. The greatest accumulators of capital and wealth have nothing the moment they choose to fight the system. 

Greatest system of control ever created. 

Ironically, we would all like to be in this club, where we sell our souls for an illusion... 

Tue, 11/11/2014 - 12:44 | 5436737 Moccasin
Moccasin's picture

Unsustainable. I am waiting and watching for the house of cards to collapse.

Tue, 11/11/2014 - 12:47 | 5436744 Government need...
Government needs you to pay taxes's picture

Mean reversion will occur.  Sure, the 0.1%ers have co-opted the US political machine, but it will be Red China or New World Order that trims these wooly sheep.  When the debt bubble explodes, .gov will be left holding their splintery wooden cock in their hand.  The nations with trade surpluses, reserve currencies, precious metals, and militiaries will stop by, jerk the wooden cocks from the hands, and beat them with it.  We'll all laugh, right up until they proceed to expropriate our land and hard assets in lieu of payment for all those bullshit $$$s of debt.

Tue, 11/11/2014 - 12:55 | 5436791 LawsofPhysics
LawsofPhysics's picture

Bullshit.  The cognitive dissonance of your statement is mindboggling.  For example, many countries with trade surplus have no military and visa versus.

Barring a full on shooting/killing world war, the average person on the planet who remains committed to the old fiat wealth ponzi will continue to see their purchasing power and freedom destroyed.

History is very claer on this and I don't wish for either, but that which cannot be sustained, won't be, period.

Tue, 11/11/2014 - 13:32 | 5436942 Monty Burns
Monty Burns's picture

The 0.1% are the NWO, for fuck sake!

Tue, 11/11/2014 - 13:54 | 5437038 Government need...
Government needs you to pay taxes's picture

This is an ignorant statement.  Some 0.1%ers in the US are NWO, but hardly all.  NWO connotes Marxism and lack of individual liberties (except for the most rich or politically successful).  Some who support individual liberty and freedom happened to get rich.  You dont automatically go full Marxist just b/c you are very wealthy.  It's a choice (and perhaps a disease).  Look no further than George Washington for exhibit 'A'.  Rich, powerful, successful in the most important ways for that day.  He could have been King.  Instead, he packed his bags and headed for his beloved farm, which was always a welcome rest spot for any traveller passing by.  He was a truly great man, laying down all that power.

Tue, 11/11/2014 - 16:11 | 5437605 MeelionDollerBogus
MeelionDollerBogus's picture

Pure ignorance of the highest degree.

NWO is 100% anti-marxist: the NWO is in fact monarchist & oligarchy-friendly only. No Marxism, no socialism & no capitalism shall be tolerated of any sort.

Tue, 11/11/2014 - 16:30 | 5437704 Monty Burns
Monty Burns's picture

David Rockefeller is quintessential and self-admitted NWO. Soros is another.  Very few of us serfs know precisely who or what it is. However we can be sure of some elements.  It's globalist/internationalist/one-worldist and as such geared towards destroying existing racial, national and religious structures. It's particularly antagonistic towards Whites and Christians.  Supra-national financial institutions like the BIS and 'national' central banks obviously play a key role as well.  NWO is Marxist only to the extent that both share many of the same subversive objectives.

Tue, 11/11/2014 - 12:51 | 5436764 Overflow-admin
Overflow-admin's picture

As long as it's Christmas, everything is OK. Spend your wealth, buy crap sugar sweeties, and die of cancer.

 

Christmas period extended??? All retailers are loaded to the butt as of today (speaking from Switzerland), let's see if they keep the shit going until FEBRUARY NEXT YEAR!?!

 

Don't loose patience, one year has only 365 fucking days and they CAN'T BORROW TIME. Only question remaining: SHTF before or after CHRISTMAS SEASON IS EXTENDED TO THE WHOLE YEAR???

Tue, 11/11/2014 - 13:06 | 5436796 Jam
Jam's picture

Probably 99% of the .1% are members of the Tribe, pathetic. USA would be better off with

the 1 percenters in charge.

Tue, 11/11/2014 - 12:58 | 5436800 lesterbegood
lesterbegood's picture

'Game over, man: the Fed won.'

Only if you consent.

Tue, 11/11/2014 - 13:57 | 5437060 Government need...
Government needs you to pay taxes's picture

Damn right.  I do not consent to be tyrannized.

Tue, 11/11/2014 - 13:03 | 5436825 Hamm Jamm
Hamm Jamm's picture

OK the FED wins the Grand Prize.....    GET A ROPE AND GIVE THEM THEIR PRIZE !     let them swing

Tue, 11/11/2014 - 13:02 | 5436826 Inthemix96
Inthemix96's picture

'Tiss fortunate for the ruling classes of this fair and pleasant land,

That the assorted mis-fits, proles, and plebs of said land dont fucking understand the financing and money creation system set up by the wankers who rule them,

Because I believe there wouldnt just be a revolution tomorrow morning, but I believe there would be peeled bodies from arsehole to breakfast time littering the landscape, as well as cunts hanging from trees and lamposts, oh, and dont forget those crucified and burnt at the stake.

Sometime from 1914, forgot who wrote it though, wasnt fucking me like, I wasnt even borned then.

;-)

Tue, 11/11/2014 - 13:04 | 5436835 cluelessminion
cluelessminion's picture

This administration and the one before it are complete jokes and have made a mockery of the whitehouse.  Bush was part of the .1% and Obama is completely owned.  The presidency will never be the same.

 

 

https://celebrity.yahoo.com/blogs/celeb-news/ms-rihanna-goes-to-washingt...

 

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