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Strategies & Market Trends : Currents of Currency
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From: The Wharf9/14/2012 1:49:29 PM
   of 594
 
e Percent Gives Up Ground - to the Five Percent
By Robert Frank | CNBC – Tue, Sep 11, 2012 5:28 PM EDT.(More From CNBC: Do You Live Where the 'One Percent' Live? Find Out Here)

A new report shows that the One Percenters have grown even further removed from the rest of America.

AG does this mean that Q easing has become similar to when AG opened the flood gates and the big C smiled? Can't be it is impossible right? No it just means you have to start walking the streets again I had the same problem stats stink.

The takeaway from these numbers seems to be clear: the rich are getting richer at the expense of (or at least despite) the rest of the population.

But there is another chart buried in the report that is equally interesting. It shows that the total share of wealth held by One Percenters is essentially flat since 2007, at 35 percent. Their share has fallen since 1989, when they held 37 percent of the nation's wealth.

Of course, you won't read many headlines that read "Rich Hold Lower Share of Nation's Wealth."

Lawrence Mishel, president of the Economic Policy Institute and one of the paper's authors, said that the difference between the numbers is a largely technical. He said that it depends on which time period you use as a starting point. And the ratio of One Percenters with the median wealth is more a reflection of the middle class losing wealth than the One Percent gaining wealth.

"The middle class has clearly been hammered, so that changes the denominator," he said.

finance.yahoo.com
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