4 ms·
I'm not sure if this was addressed in the Credit Suisse report, but these kind of comparisons can be very misleading. The problem is that a lot of people in the
by santosha 11y ago
I'm not sure if this was addressed in the Credit Suisse report, but these kind of comparisons can be very misleading. The problem is that a lot of people in the bottom 10% have net negative assets (every fresh grad with college loan debt for eg). This skews the distributions, making the wealthy seem richer than they really are.
Suppose A has 50$, B has 30$ and C has -20$ (owes a creditor).
A seems to control ~82% of all the wealth, but B is actually in much better shape than that number suggests.