Top 0.1% Of US Households Own As Much Wealth As The Bottom 90%

Tyler Durden's picture

If it wasn't for Ben "the Hero" Bernanke's courage to print like a drunken Keynesian madman, none of this would have been possible, and by "this" we of course mean that the net worth of the top 0.1% of Americans is about to surpass the wealth of the bottom 90% of US households.

That, and making Thomas Piketty's sequel just a matter of time.

The good news is that the wealth gap is not quite as bad as it was in 1929 when the top 0.1% owned 25% of all wealth, almost double the 16% generously "trickling down" to the "poorest" 90% of the US population.

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venturen's picture

real bad stuff is going to happen..REALLY REALLY BAD

TahoeBilly2012's picture

The ONE percent was always a scam, it was always the POINT ONE percent that mattered.

El Oregonian's picture

The funny thing is that your coffin can only hold so much in it besides your dead corpse.

In other words, you're not taking much when you leave.

Just say'in...

pods's picture

Wonder how many of them have access to the FED's Free Joobuck Printer (FFJP)?

pods

TongueStun's picture
TongueStun (not verified) pods Oct 12, 2015 10:46 AM

That's the Hoax and Chains the socialist jew media told their flock of sheeple to vote for......

BurningFuld's picture

You can also read from the chart that 9.9% of the population has 55% of the wealth. Or the top 10% of the population has 77%.

messymerry's picture

Sorry, couldn't resist, with apologies to Chris Rea:

Well I'm standing by the river
But the water doesn't flow
It boils with every poison you can think of
And I'm underneath the streetlight
But the light of joy I know
Scared beyond belief way down in the shadows
And the perverted fear of violence
Chokes the smile on every face
And common sense is ringing out the bell
This ain't no technological breakdown
Oh no, this is the road to hell

And all the roads jam up with credit
And there's nothing you can do
It's all just pieces of paper flying away from you
Oh look out world, take a good look
What comes down here
You must learn this lesson fast and learn it well
This ain't no upwardly mobile freeway
Oh no, this is the road
Said this is the road
This is the road to hell

Bangin7GramRocks's picture

But they just work harder than the rest of us turds.

83_vf_1100_c's picture

  I was stricken by your simple statement of sarcasm. +1 at ya.

NoDebt's picture

"The ONE percent was always a scam, it was always the POINT ONE percent that mattered."

Disagree.  The 1% are the ones who service the 0.1%

NihilistZero's picture

The 1% are the ones who service the 0.1%

It's more like the top 20% services and benefits from the oligopoly.  That's how they've been able to keep power.  They get enough assholes to think they're actually in the "Big Club".

Dg4884's picture

I agree, but probably not in the way you think V.  With elite owning the media, VAST majority of U.S. still asleep, and finally, control over how (when) you will are able to communicate (NSA SMURF), it will be very tough (collectively) to do anything about, well... anything.  I honestly don't think we will ever know how bad parts of this country could ever get if info is even more censured than it is now.  I'm thinking down with a whimper (TPP) and not a bang.

These guys are bad and they no longer care about the cover of darkness.  It is straight up in our faces!

squid427's picture

Hhhhmmmm, french revolution ring any bells

TongueStun's picture
TongueStun (not verified) Tyler Durden Oct 12, 2015 10:48 AM

Now there is some Hope and Change I can believe in!

SillySalesmanQuestion's picture

+1 "Commerce was dead, betting took its place..."
Thanks for re-posting this Tyler.

remain calm's picture

Take the money back from Soros that cock sucker, he didn't make anything he just took it from the 'peasants"(his term). Report on that CNBS you lame dick wads

Apocalicious's picture

So, about 1929 to 1970 we saw trust busting, privatization and increasing freedom. Since, it has been unmitigated consolidation, government expansion and increasing socialism. Clearly, unrelated to wealth distribution. 

remain calm's picture

Bingo.

And the same reason why the 0.1% don't want Trump. Because they fear they may loose the abliity to pull the string on the puppets

TongueStun's picture
TongueStun (not verified) remain calm Oct 12, 2015 10:50 AM

"Vote for whomever the socialist jew media attacks the most"

 

 

Words to vote by.....

nnnnnn's picture
nnnnnn (not verified) TongueStun Oct 12, 2015 11:51 AM

see how stupid the 0.1%ers are  it took this idiots 15 years to realize how to earn some money as a monopoly

Monetas's picture
Monetas (not verified) Tyler Durden Oct 12, 2015 10:36 AM

"Earners" .... aren't many of those in the bottom 90% of households ?

LawsofPhysics's picture

Yes, this is a big part of it.  However, much of that "wealth" is simply bullshit paper promises.  Either way, such "let the majority eat cake" monetary experiments have been tried before.  This one will end the same way.

Livermore Legend's picture

Indeed....

However, as you will notice on this Graphic and others like it, a massive "Double Top" has been forming for some years now.

The "Great Inflation" is at its End, Not Beginning.

"Gold" has been telegraphing this Loud and Clear, but like Participants in all Markets, it is Denied all the way down.

During the Long and Slow "Great Inflation" it is the Ordinary Man who gets the short end; Inflation operates to reduce the Value of their Capital/Wages, until it can be reduced no further.

Demand begins to dissipate across Markets, be they local or international.

This is "ZUGZWANG"; being confirmed across the World by every measure, doctored or otherwise.

No Gimmick, Propaganda, or Machination can create REAL WAGES.

Thus at the end of "The Great Inflation", comes the "Deflation".

This is where 99% of the 1 % Lose.

Like the Ordinary "Suckers" they Delude themselves into Denying Human Nature and Mathematics, and believe that becuase they are "Powerful" and "Rich" they will not lose.

I know this firsthand based on my activites in recent years, and ALL Market history demonstrates why.

In the last "Great Deflation" the Majority of the Wealthy did NOT make it to the "Real Bottom".

Nor will they this Time around.

There will be no "Gold Standard".

There will be no "Hyperinflation".

There will be no "Collapse of the Dollar".

It is the "PROMISE TO PAY" that is failing in a Classic Bust, of Epic Proportions.

Myself, I'm betting a $ 100 Million that Greed and Arrogance will Yield to FEAR; as it always has and always will.

Stay Tuned.

 

 

headhunt's picture

No coincidence the direct correlation with the Community Reinvestment Act and the subsequent derivatives and other fictitious investments.

Hohum's picture

And 90%+ marginal tax rates in the middle of those four decades.

squid427's picture

You never let us down, thanks

praps's picture

We need to move to a system where we share the wealth of the country, and not allow the 0.1% to own it and charge rent to everybody else.

The only way to achieve this is to make everybody and every business, pay rent to the state for any land or site they want to use. Any money they make from this land they keep - no taxes of any sort.  No income tax, sales tax, captal gains tax, company tax  etc etc. 

 

NoDebt's picture

And then the lobbyists start doing their work and certain "excpetions" are made...

How about LESS government in all its forms?  I know it's a very old fashioned idea, but why don't we give it a try.  The last thing we need is another government tax scheme.

praps's picture

You don't need much government if there is a fairer distribution of wealth.  Most of goverments activities involve finding ways to tax people and distibute to others.  Government would only be a tenth of it's current size if you could stop all that activity.

natxlaw's picture

Why so much red for this? I'm not gonna up it, but it makes sense. This would in effect be a consumption based tax. Those who use the most pay based on what they use. Instead of organizers and takers paying nothing while producers paying everything.

Bangin7GramRocks's picture

Let's start with your home state No Debt. The most bloated and corrupt government in the Western Hemisphere!

mayhem_korner's picture

 

 

...and you think those rents will be equalized for all land?  Have you EVER heard of the game MONOPOLY, comrade?

praps's picture

Like all rent, you pay for the quality of the site.  City land would be the most expensive.  Agricultural land much less.  Just like Monopoly.

LawsofPhysics's picture

It would depend somewhat on how well those city folk want to eat...

praps's picture

How anybody wants to eat would depend on how hard they work.  Currently the 0.1% eat very well by collecting rent from all the land that businesses occupy.  The majority of busines do not own their own land.  They rent it from the 0.1% and then have to pay taxes on top of that.

mayhem_korner's picture

 

 

In your imaginary world, rent in the absence of taxation becomes taxation.  I don't know if you can grasp this rather simple construct.  The rent structure charged by landowners would become progressive, usury, then ultimately confiscatory.

praps's picture

Rent is not a tax.  It's a payment for the benefits of occupying a site - usually a site that society has heavily invested in with transport facilities, lighting, sewerage, roads, justice etc etc.  You should pay to society for the benefit you receive from it.

The confiscatory system you talk about is precisely what we have at the moment.  If there any improvements to a site the 0.1% simply put the rent up.  Wages for the 90% always stay low no matter what the improvemnts in technology etc.

mayhem_korner's picture

 

 

OK praps...you better start focusing on your debate with Hillary.

praps's picture

All the politicians have no interest in a fairer system.  They're doing very nicely out of the current system.  It's the 90% that lose.

css1971's picture

lol. What do you think the purpose of the state is? Fuzzy bunnies? No the state is there to make sure the wealth moves upwards.

Where does the concept of a state come from? It comes from the lords and kings of the past who murdered anyone who got in their way. The state exists to represent the interests of the people at the very top.

FreeShitter's picture

roll the fucking guillotines.

NoDebt's picture

Ah, finally back to the carefree days prior to the Great Depression.  I get all misty just thinking about it.

Monetas's picture
Monetas (not verified) Oct 12, 2015 10:33 AM

The top 0.001 % .... have as much wealth .... as the bottom 50% .... thanks to FDR's "New Squeal" deal .... bringing good things to life .... for 80 plus years ?

Savvy's picture

'lardassians' f'n good one LMAO!!!!

starman's picture

The 90% holds shit in wealth! 

House belongs to bank car belongs to creditors, and that's again the bank!  

Think about that for a while! 

Time over........

You're  fucking slave! 

headhunt's picture

Worse; after paying mortgage for 30 years you still have to pay property/house tax to pay for government jobs and pensions.

You are never done paying and you only own your house as long as you keep paying the extortion property tax

LawsofPhysics's picture

Just more evidence that The Federal Reserve has been very successful!

Get long sharecropping and guillotines!!!!

madcows's picture

It is your own fault that you are not wealthy.

Sincerely, Jack Ma.  Now, off to the mines, slaves.