The Growing Wealth Inequality in America: Why the Increase in Average Net Worth is Cause for Concern
It is no secret that the average net worth of Americans has been on the rise in recent years. In fact, according to a recent study, the average net worth of Americans in 2022 has reached an all-time high. This is great news for those who have been able to accumulate wealth, but for many […]
Bread and Circuses – US Households Increase Debt in Wealth Destroying Areas: Mortgage Debt Holds Steady since 2008 while Debt in Auto Loans, Student Loans, and Credit Cards Reach Record Levels.
Americans for the most part generate their wealth via owning homes. Yet many younger Americans are having a tough time buying a home because of a crowding out effect from investors largely from Wall Street. I’ll start this post with some telling data: In 2008 US households had about $10 trillion in mortgage debt. Today […]
The math on income inequality: Average annual income of the top 1% is $1,153,293 while that of the bottom 99% is $45,567.
Part of the challenge with distorted income distributions is that it hollows out the middle class. The middle class in the United States is now a minority. We have more people making higher incomes and more people making way less and this group is growing much faster. Our economy has taken a bimodal distribution with […]
The two income trap and the myth of high American wages: 50 percent of wage earners had net compensation of $28,851 or less.
If you can sum up the sentiment among the American public in two words it would be economic frustration. The public is frustrated that inflation is eating away at the quality of life many have come to expect. While families don’t need bankers or politicians to tell them about this, it is especially infuriating when […]