1. Australia 225,337
2. Belgium 172,947
3. Iceland 164,193
4. Luxembourg 156,267
5. Italy 142,296
6. France 140,638
7. United Kingdom 130,590
8. Japan 112,998
9. Singapore 109.250
10. Switzerland 106,887
11. Canada 98,756
12. Netherlands 93,116
13. Finland 88,130
14. Norway 86,953
15. New Zealand 82,610
16. Ireland 79,346
17. Spain 66,752
18. Taiwan 65,375
19. Austria 63,741
20. Sweden 63,376
21. Malta 63,271
22. Qatar 56,969
23. Germany 54,090
24. Greece 53,375
25. United States 53,352
26. Israel 51,346
27. Slovenia 50,329
Source: Credit Suisse Global Wealth Databook 2014, Table 2-4Middle Class Political Economist
U.S. Median Wealth Up from 27th to 25th
Kenneth Thomas | Professor and Research Fellow, Center for International Studies, University of Missouri at St. Louis
6 comments:
Maybe with the Piketty momentum on inequality, we can make more progress and become like Australia. Once we finally privatize social security, more people will be invested in capital early in their life, and will have a chance to let markets do their magic.
Once we finally privatize social security, more people will be invested in capital early in their life, and will have a chance to let markets do their magic.
What could possibly go wrong?
Any day now we are going to see an huge crash. Traditional sell side and market making business, as bad as it is/was, has been substituted by "liquidity" providers HFT HF's that do not provide liquidity when is needed, and provide too much liquidity when is not needed (to rump up markets on low volume).
But hey, no problem the "market" will just "break down" and be shut while they clear the mess. God luck through unwinding trillions on notional derivatives.
Bah, financial markets are such a parasitical non-value adding activity that why to bother anymore (and I used to trade options lol), unfortunately too much people pays attention to it even if they don't understand what's going on with these "markets" built on margins, collateral and leverage. So what happens is what we have seen last week, when margin calls happen there is a demand for quality collateral but with the FED draining the system of good collateral we see these violent moves on treasury market and huge increasing volatility.
Any day now we will see one of those high sigma events that can never happen, well, happen and we are set for an huge crash in the markets and a lot of funds become insolvent (because leverage).
Ryan you think just like Janet Yellen:
"But widening inequality resumed in the recovery, as the stock market rebounded, "
After all its all about the stock market....
maybe the Picketty people can come up with a policy to forcefully redistribute shares of Netflix and Alibaba....
Post a Comment