Wealthiest have lost billions in recession; economists see shift in trend
WASHINGTON - The rich have been getting richer for so long that the trend has come to seem almost permanent.
They began to pull away from everyone else in the 1970s. By 2006, income was more concentrated at the top than it had been since the late 1920s. The recent news about resurgent Wall Street pay has seemed to suggest that not even the Great Recession could reverse the rise in income inequality .
But economists say — and data is beginning to show — that a significant change may in fact be under way. The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon.
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10 comments:
Good. Greedy bastards. Its never enough. Money is a drug to those guys. And like an addict they'll do anything to get it.
The world always has a way of balancing itself.
Don't let them fool you. Right now the rich are buying up alot of cheap stock. The elites scare you into thinking "stocks are too risky right now" and instead encourage you to spend, spend, spend in Walmart because "thats the patriotic thing to do". Save your money and spend on cheap stock buys now folks. Who knows, more of us might start to join the rich club within a few years.
Oh Dahling....does this mean I cannot get my brazilian wax everyday?
anon 9:21 If you were out working instead of reading this blog ypu could one day be wealthy.
Your boss is one of those rich guys. He/she may be a greedy bastard but but they feed your family.
Anon 9:21,
I bet you have your price, you just have not persuaded anyone to give you that opportunity. Hater!
These poepl, like the editor of this blog, who condemn the rich for being rich crack me up. These comments posted mostly by the same poeple who rail against socialism, like the editor of this blog, downgrade people who have worked hard and made money by being CAPITALISTS. Make up your minds. I must say, My boss is a millionaire, many times over. A more generous and caring human being you will never meet.
ga head, break my heart.
money, power, sex...that's what men want, and in that order.
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