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Here is some context for anyone else who is curious. A 1990 dollar is worth 1.84 dollars today because of inflation. There are about 3 times as many goods and
by JamesBarney 11y ago
Here is some context for anyone else who is curious.
A 1990 dollar is worth 1.84 dollars today because of inflation.
There are about 3 times as many goods and services sold since 1990.(adjusted for inflation) [0]
But real wealth has increased by 4.25x not adjusted for inflation[1]($20 trillion in 1990 to $85 trillion today)
So it looks like there is 2.3x as much wealth, its valued 1.8x as highly, mutual funds manage a 2.7x larger share of net worth.(which is 18% of the household net-worth of $85 trillion) and hedge funds manage a 18x larger share of net worht.(which is 3.5% of house net-worth).
It would also be interesting to see how much of this shift is due to larger amounts of wealth inequality. Specifically the wealthy have less of their net-worth in real estate, a larger share in the mutual funds, and astronomically larger share in hedge funds compared to the poor.
[0] http://www.statista.com/statistics/188105/annual-gdp-of-the-united-states-since-1990/ http://www.statista.com/statistics/188105/annual-gdp-of-the-...
[1] https://upload.wikimedia.org/wikipedia/en/a/a3/Graphic.png https://upload.wikimedia.org/wikipedia/en/a/a3/Graphic.png
[2] http://time.com/money/3919690/americans-total-net-worth-record/ http://time.com/money/3919690/americans-total-net-worth-reco...
- x5n1 11y agoAnd that wealth is nicely tied in the top tier of society with no chances of it trickling down to the masses. And they wonder why no one is buying anything or willing to pay for anything. It's like DMX said, stop being greedy.