The Future Looks Blight

Posted in Culture of Lickspittle, Decline and Fall, The Corporate Bund at 11:57 am by George Smith

A few statistics from the Global Wealth Report, under the title US Inequality at its Ugliest:

1. At the Bottom: Of the Half-Billion Poorest Adults in the World, One out of Ten is an American …

3. In the Middle: The US is the Only Region Where the Middle-Class Does Not Own Its Equivalent Share of Wealth

Table 4-2: North America has 38.8 percent of its people in the middle class, but they own just 21 percent of the wealth.

Tables 4-4, 4-5: The wealth-deprived North American middle class is largely a U.S. phenomenon, as Mexico’s relatively small (percentage) middle class has over double its share of wealth, and Canada’s middle class, from a population a little over a tenth of the size of the U.S., has about 20 percent less than its share, compared to the U.S. with 50 percent less.

Table 6-1: U.S. median wealth is just 1/7 of average wealth, which implies a skewing of wealth toward the top. Among other major nations, only Russia is worse.

Global Wealth Report, p. 34: “A shortfall of the wealth share of the middle class below its population share is also evident in many individual countries outside North America, including every one of the G7 nations. Figure 4 shows that the shortfall is most acute in Switzerland, Singapore and the United States; but in Australia, Hong Kong SAR and Sweden the mean wealth of the middle class is also more than one-third lower than the average for the whole population…In contrast, for middle and low-income countries – such as Brazil, China, India, Indonesia and Mexico – the share of the middle-class wealth exceeds its population share (see Figure 4). This difference signals that in such countries members of the middle class are not ‘in the middle.’ Rather, they are towards the top of the distribution and there are relatively few people above them. The same is true for the world as a whole.”

4. In the Upper-Middle: For a Full 70% of Americans, Percentage Ownership of National Wealth is One of the Lowest in the World

Table 1-5: The bottom 70% of Americans own just 6.9 percent of the wealth, a percentage far below all other major nations.

The entirety is here, along with a link to the Swiss Bank analysis from which the figures are extracted.

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