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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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These charts might make you feel better about American inequality

Old_JoeOld_Joe
edited August 2013 in Off-Topic
So maybe things aren't really all that bad?

"You’re probably pretty familiar with the basic stats on U.S. income inequality, and its startling rise. According to the CBO, before-tax/transfer income (including compensation like health coverage) grew by 21.6 percent between 1979 and 2009, and after-tax/transfer grew by 19 percent.

But you’re probably less familiar with data on global inequality. Partly that’s because such data is scarce. The only good source I know of is Branko Milanovic, the lead economist at the World Bank’s research group. But the data Milanovic keeps is extremely sobering."

⇒ Link to Washington Post Article

Comments

  • InvestorInvestor
    Very interesting. Thanks.
  • Old_JoeOld_Joe
    edited August 2013
    Reply to @Investor: You know, not too many of the MFO folks actually seem to be interested in background info like this. I base that on the paucity of visits to the general news items that I posted for a while. Just no interest, to speak of, and it did require a bit of time, so I gave up on that.

    When I posted this one, I said to myself: "I'll bet that Investor will like this, even if no one else does".

    You are very welcome.
  • mrdarceymrdarcey
    That last sentence is a good reminder of how lucky we have it. Great visuals and info.
  • Old_JoeOld_Joe
    Yes, I thought so also. Thanks for the feedback!
  • catch22catch22
    Hi OJ,

    I don't know that it is all lack of interest; but perhaps lack of time available for some subject areas.
    This topic could have books written about it, eh? Oh, wait .....
    The social ramifications have been and remain large and important, related to the topic linked and do affect investments, if one needs to relate to this aspect.

    Thank you and take care. Be safe and enjoy, at the River.
    Catch

  • MarkMark
    edited August 2013
    Reply to @Old_Joe: Try not to be too harsh. Many folks (me) don't feel qualified to offer an educated or enlightening comment on many matters brought to our attention. We may agree or disagree but don't know enough to defend our position. In those cases it's better for me to keep my mouth shut and appear stupid rather than open it and remove all doubt.

    Oh, and btw, it doesn't make me feel any better at all. The greed and sense of entitlement embedded in many if not most of those at the top never ceases to both astound and disgust me.
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