The Painful Truth About The Wealth Divide
Inflation continues to hit the economy hard and in many ways. From commodities to food prices soaring there are no signs for it to stop let alone slow down.
What is scary is that the actual increase in $ value due to inflation for most Americans actually barely tips the scale while those few in the 1% is seeing dramatic net worth soaring beyond anything seen in history.
The majority of Americans which is 50% are at the bottom that own only 6% of all hard assets in America. While top 10% in net worth own 64% of all hard assets.
The wealth distribution has some effects from the way money is distributed. Central banks and government is pushing the gap to be ever greater. This is one of the main reason younger generation is investing in cryptocurrency. The inequality in fiat is having a pro-founding effect on society. How long will it take to see crypto go main stream?
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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Know about the Lorenz curve? Check it out, the more it bulges/bends the more income inequality there is. I'm not sure how it has changed in recent years though.
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First time hearing this Lorenz curve but googled it. Pretty neat way of illustrating wealth inequality.
Yes, clever how people can come up with ways to graphically represent abstract concepts. !LUV
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I believe in the 80 - 20 rule. That means roughly 80% of the population owns 20% of the wealth. 20% of the projects will give you 80% of the profit etc.
I want to make sure I’m in that 80% group then !LUV !PIZZA
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Very well, this occurs in almost every soceity or country in the world. Infact, I watched a documentary once where the kind owns all the land in the country, does that not translate to like 0.01%? 😂
Knowing the facts rather than being lie to maybe the key reason that can change the inequality. Since covid kept hearing news media say governments been helping the people financially but yet here we are worse off than we started with inflation soaring while wages are not following higher.
Exactly! helping people that are just a.minute percentage of those that need it. The so-called help does.not (almost) evenly spread at all. They give a small.number of people something, boom you hear 20 million people
Crypto going mainstream won't make any difference. It's driven by speculation, just like the stock and commodities market. *t's volatility is also a barrier to it making any changes.
Look at the wild swings on Doge whenever Musk tweets about it. Pure speculation.
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it will get better but remember worlds gotta burn and fall before people wake up.. So projects like bitcoin myk understand that from the ashes it will rise like the phoenix.. most people don't have the ability to be patient as some comments here in the post suggest. so the rich swoop in and take from the table as they've always done.. i'm saying to you a time is coming when they won't even be able to do that...even they will be begging bread then we'll turn to revolution that's where we headed and that's what bitcoin myk is. it's a revolution. it's not a can i pay my bills this month token. it's not a can a scrounge a few bucks from the sofa token and it's not a go buy a lambo token and until people realize that's not what we need we'll continue to suffer but i do promise you it will get better and it will get better at the death of all this crap out there and the revolution that removes these corrupt systems and plutocratic systems and like every revolution that came i promise you this one will be no different no matter what it takes for it to get here.. and who has to pay for it's arrival.. either way it's coming
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I agree with you on all that. I haven't been able to get onto the bitcoinmyk.com website for ages. It's not been accepting my logon details again. It did that once before, if you remember way back.
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I am hopeful investing in crypto goes beyond speculation.
It's just a matter of time before it becomes mainstream but I think it might take a decade or two. Another thing to note is that there are a lot of people on the bottom part of the ladder who can't afford losses and sell them when their portfolio takes a hit. While the rich can just hold on and add to their position.
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We can all accumulate crypto before it goes mainstream.
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