Nothing fake about the top 0.1% holding the same amount of wealth as the bottom 90%.
While people argue about what is real and fake news the widening gulf of inequality in the real world only continues to expand. This is actually happening and for the ultra wealthy that hold most of the wealth, all of this distraction is a good thing. The latest wealth report from Deutsche Bank Research shows that wealth inequality is at levels last seen during the Roaring 20s. The problem with this kind of inequality is that it has come from largely hollowing out the middle class and also creating a large crony financial system that is designed to suck out productivity in the real economy and shuffle it over to folks in suits sitting behind Bloomberg terminals. In other words, those that work and build the economy get shafted from the financial hubs of the world. This global financial drain does not adhere to national borders but is driven by the worldwide financial elite that collect trophy apartments in major metro areas. All this happens while your typical American family struggles to buy a home. There is nothing fake about the current level of wealth inequality.
The wealth spectrum
One of the most startling figures in the latest report is that the top 0.1% hold as much wealth as the bottom 90%. And this is happening in the United States, the wealthiest nation in the world.
Take a look at the current chart:
Source: Deutsche Bank Research
Now you might say to yourself, don’t the financial elites worry about this information spreading to the masses and creating some kind of revolt? No, because as we are seeing today the public at large is more interested in “fake news” and pointing fingers at each other instead of digging deeper into the issues. There are now niche industries online that simply cater to this “left and right” divide that ultimately has allowed the middle class to disintegrate into thin air.