- by New Deal democrat
Tomorrow is one of those days when just about Every Economic Statistic in the World will be released. In the meantime, no new data today.
So, while we wait, let me send you over to this article by Wolf Richter analyzing the distribution of wealth and assets in the US updated by the Fed through the end of last year.
Unsurprisingly, the rich have gotten richer, and their preferred asset classes are the most protected by the tax code.
Just one of many first-order economic problems in the US. Wealth, once entrenched - most particularly when it is unearned and inherited - will never be voluntarily disgorged. The beneficiaries would rather give up democracy, give up the Rule of Law, rather than see their privileged status compromised.
