Top 0.1% Of US Households Own As Much Wealth As The Bottom 90%
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, is 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.
Copyright ©2009-2015 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every time you engage ...
more
But it isn't Keynes. It is the laws in place to allow all the stimulus to go to that.1 percent instead of lending to the people. And of course, they do that because they must have low interest rates.