It's also denominator abuse. Most of the assets of the top X% are financial instruments whose nominal value drops sharply in a recession. Those who have liquidi

It's also denominator abuse. Most of the assets of the top X% are financial instruments whose nominal value drops sharply in a recession. Those who have liquidity rarely shed those assets. So their relative wealth looks much lower for awhile, but when everything recovers, very little has changed. Meanwhile, they get the opportunity to buy cheap assets from those who did not have liquidity, which worsens both asset consolidation and wealth inequality.