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Home / David Stockman's Contra Corner / Thanks, Fed! Huge Share Of National Wealth Has Gone To The 1% Since 1989

Thanks, Fed! Huge Share Of National Wealth Has Gone To The 1% Since 1989

Summary:
As of the end of 2018, net worth as a share of the U.S. total had shrunk considerably for the upper middle class. In one generation, U.S. wealth held by households from 50th to the 90th percentiles fell from 35.2 percent of the total to 29.1 percent. Most of this wealth has transferred to the top 1 percent of U.S. households. https://www.bloomberg.com/news/articles/2019-04-13/america-s-upper-middle-class-feeling-the-pinch-too

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As of the end of 2018, net worth as a share of the U.S. total had shrunk considerably for the upper middle class. In one generation, U.S. wealth held by households from 50th to the 90th percentiles fell from 35.2 percent of the total to 29.1 percent. Most of this wealth has transferred to the top 1 percent of U.S. households.

https://www.bloomberg.com/news/articles/2019-04-13/america-s-upper-middle-class-feeling-the-pinch-too

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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