Rich Americans? Hardly!

[Palehorse]

There has been a lot of talk about the shrinking middle calls in this country, and plenty of indications that this topic is not just sour grapes, but a sad reality; and now here's some more validation: http://money.cnn.com/2014/06/11/news/economy/middle-class-wealth/index.html?hpt=hp_t2

The latest Credit Suisse Global Wealth report indicates the average Americans net worth is at about 301,000. And accordion to that report it places Americans solidly in the number 4 slot globally surrounding average net worth. The problem with that whole ranking is the fact that the wealthy, super rich Americans net worth unfairly skew that number.

America has 42% of the worlds millionaires and 49% of those global millionaires with assets of 50 million or more, and given that those millionaires represent only 1 to 2% of the population in this country serves to place this country squarely into the number one slot in one wealth measure- that of wealth inequality.

The median net worth in this country is at 45,000, and a lot of that for the majority is wrapped up in the home they live in; something that has taken a huge devaluation over the last decade or so, and in many areas of the country is sluggish to dead surrounding regaining lost value. Couple that with the huge losses in manufacturing operations to other countries, and the resulting and ongoing downward spiral in average wages, and you find that the US ranks 19th on the median income bracket; with half of that having more and half having less that the median. And ahead of us, a whole host of European and Asian countries, some of which were considered third world economies just a couple of decades ago.

The rich will continue to spin this and keep the sheep bleating contently on their propaganda lines, but the sad fact is unless this country takes some damned drastic measures designed to bring jobs back, and salaries up, we are a decade or less from becoming a Have and Have not society, and a third world economy ourselves. 

[The Troll]

  Well, we have some more poor  people.     Two men I know in upper Indiana are loosing their jobs and their manufacturing plants to Mexico.  One man has one more month to work and the other man plant will be shut down in the fall.   

  Damn I hate the Republican Free Trade Predatory Capitalist.     Only in Washington DC and American can the rich rule all of us, by shipping our jobs out.