Outrageous Wealth Disparity in America. 400 Richest More Wealth than Bottom 64%
By Stephen Lendman
Posted November 29, 2017
According to an Institute for Policy Studies (IPS) report titled “Billionaire Bonanza 2017,” America’s 400 richest individuals have more total wealth than the nation’s bottom 64%. The three richest billionaires are wealthier than the bottom 50%. The bottom 1% of Americans have a negative net worth of $196 billion. The top 1% has a combined net worth of $33.4 trillion.
Shocking stuff! It happened by design, not accident – neoliberal harshness for most Americans, near-zero interest rates and trillions of dollars of money printing madness by the Wall Street owned and controlled Fed, near-free money, making super-rich Americans far richer.
Transferring wealth from most Americans to wealthy elites has been going on for years, a deliberate scheme to concentrate it in the hands of the nation’s privileged class at the expense of most others. More…