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Top 1% Now Control 39% of the World's Wealth

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    Top 1% Now Control 39% of the World's Wealth

    http://www.cnbc.com/id/100780163
    Brian

    #2
    I'm not sure what is being suggested by this post - "yeah" for those that have cash to invest during those periods of tremendous opportunity that inevitably follow periods of downturn, or "nay" for same reasons?

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      #3
      Partially due to most Americans are forced into serf/socialistic Ponzi schemes. 15.3% of ones wealth building potential is confiscated.

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        #4
        Are you referring to taxes? Cause if so I quite enjoy what taxes buys me in terms of security and lifestyle . . .

        I've lived in a few lower tax/lower service countries and America by-and-large has it quite easy.

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          #5
          Ancillary Reason?

          Possible additional reason wealth is moving up

          Apparently, while stocks and economic growth are fueling the wealth growth of the rich (BJL's article), higher prices and depressed housing prices are driving the wealth of the middle class lower (the link above).

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            #6
            Originally posted by Wino View Post
            Possible additional reason wealth is moving up

            Apparently, while stocks and economic growth are fueling the wealth growth of the rich (BJL's article), higher prices and depressed housing prices are driving the wealth of the middle class lower (the link above).
            A quote from the above article, "Much of the total wealth of middle- and lower-income households is based on home values, not stocks."

            In all seriousness, when did home equity become the primary definer of wealth in the USA? People have to live somewhere, so how and when exactly does that home equity get converted into usable cash? And where do people live after they do so? Since the article references middle and lower-income households, I would presume these households are not primarily located in the priciest areas in the US, where cashing out and moving to a less expensive area at retirement might be realistic or feasible.

            We do not personally consider the equity in our home to be part of our wealth calculations. While we understand we could tap it if necessary, it would only be under less than ideal circumstances, and thus it's not part of our long term retirement strategy.
            Last edited by EarlyRetirementJoy; 06-03-2013, 09:30 AM.

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              #7
              Originally posted by EarlyRetirementJoy View Post
              In all seriousness, when did home equity become the primary definer of wealth in the USA? People have to live somewhere, so how and when exactly does that home equity get converted into usable cash?
              >>snip<<
              We do not personally consider the equity in our home to be part of our wealth calculations.
              I own one house outright, more or less. The plan was to finish paying off its mortgage this year, but now it looks like early next year before we'll have it free and clear. I am buying another house soon, probably selecting it next month.

              I plan to use house one for rental property at that point. House one is worth about the same as house two, but I purchased it for less than half the price. I can count house one as part of my wealth.

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                #8
                This is not good for different reasons, including the fact that historically societies with the greatest division of wealth have had the most social problems etc.

                On the other hand, I am very skeptical of government intervention in the economy.

                Wish I had ideas....

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