"A Rise in Wealth for the Wealthy; Declines for the Lower 93%"

[geckosfeet]

Have not seen this yet so decided to post it up. Nothing that du'ers don't already know. Just some good numbers for the wonks.

A Rise in Wealth for the Wealthy; Declines for the Lower 93% - An Uneven Recovery, 2009-2011


During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.

From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3,173,895 from an estimated $2,476,244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133,817 from an estimated $139,896.

....

From the end of the recession in 2009 through 2011 (the last year for which Census Bureau wealth data are available), the 8 million households in the U.S. with a net worth above $836,033 saw their aggregate wealth rise by an estimated $5.6 trillion, while the 111 million households with a net worth at or below that level saw their aggregate wealth decline by an estimated $0.6 trillion.1

....



A Rise in Wealth for the Wealthy; Declines for the Lower 93% - An Uneven Recovery, 2009-2011

[Warren Stupidity]

1. This is why we need austerity.

Somehow, after 33 years of reaganomics, the elites still haven't captured all the wealth.

[geckosfeet]

2. Righto. Or we could just hand everything over to the blessed few and be good sports about it.

[woo me with science]

3. It's not a recovery. It's a restructuring,

and it is deliberate.

The proof: Our middle class has been devastated and impoverished. Do you see ANY politicians acknowledging this or treating it as the CRISIS that it is? Any clarion calls to right the wrong? Any acknowledgement at all that it is happening?

No, they are talking about cutting the safety nets.

Have we had enough yet? Enough of the ASSAULTS, and the PROPAGANDA, and the LIES?

Yet?

[geckosfeet]

4. Redistribution of wealth. Perpetrated by the wealthy to and for the wealthy.

I mean come on.

Calling it a "restructuring" is nicety that I do not think is warranted.

[woo me with science]

6. I guess you are right.

Perhaps "theft" or "robbery" is an even better word.

[geckosfeet]

10. Probably more accurate and to the point.

But you risk being demonized for waging class warfare and as a jobs killer.

[HiPointDem]

7. +1

[MichiganVote]

5. The fact that this is not in the #1 spot shows that people just don't take this seriously yet.

[HiPointDem]

8. most people don't understand that it's a policy choice, not a vagary of 'the economy'.

[Recursion]

9. They've convinced enough people that this is somehow "natural" rather than redistributive

Hell, any distribution is redistributive, but we've somehow lost that framing battle for now.

[MichiganVote]

11. You have to wonder how the media would frame the dust bowl nowadays