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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (32953)	11/3/1998 6:36:00 AM
From: Moominoid	Respond to of 94695

the bottom 100 million US citizens. That's a thousand dollars a piece. Well first lets count all the children.... Which assets anyway? David

To: robnhood who wrote (32953)	11/6/1998 2:32:00 AM
From: Moominoid	Respond to of 94695

An economist on local TV just said that the combined assets of Buffet Walton and Gates are greater that those of the bottom 100 million US citizens. Can this be correct?>>> Sorry for my last answer. Here is the definitive one as of 1995. It is in Journal of Economic Perspectives, Summer 1998 issue p137. I just got it today... The mean household wealth (real estate and financial wealth) of the bottom 40% of US households was $900. There's your 100 million people and the c.$1000 per capita figure. As these guys don't own stocks we can assume that that number is pretty similar 3 years later. Their average financial wealth (subtracting owner occupied house) was -$10600. By comparison the top 1% had $7.875million in total wealth on average and $7.4million in financial wealth. Back in 1983 the mean wealth of the bottom 40% of households was $4400 while the top 1% had $6.708million (all in 1995 dollars). David Stern