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Rich Country / Poor People

The country has grown richer, a lot richer. Our total net worth, as reported by the Federal Reserve, and the WSJ graphic, has passed $92.8T. That’s Trillion, as in a “one” with 12 zeros. A trillion is also a million million, so $92.8T is $92.8 million times a million. How many households are we talking? [...]

The Exaggerated Income Gap?

That was the title of a Barron’s article this past week. There’s been more and more press about the gap between the rich and the poor. In my work as a real estate agent focussing on renting to low income people, I see people who aren’t lazy, but just the opposite. Showing me proof of [...]

When the Middle Class is No Longer

A couple weeks ago, I read a Times’ article The Typical Household, Now Worth a Third Less. The punchline of this article was the fact that the US median household saw their net worth fall from $87,992 in 2003 to $56,335 in 2013. The article linked to a report, Wealth Levels, Wealth Inequality, and the [...]

Rich Habits – Correlation, Causation, and Poverty

I consider myself a numbers guy. Not that I prefer numbers to people, but I have great respect for the numbers, and like how math is consistent over the decades, unlike our tax code for instance. That said, I find it curious that a branch of mathematics, statistics, is often used to perpetrate a fraud, [...]

The Concentration of Wealth

The Boston Consulting Group recently issued a report on global wealth, Global Wealth 2013, Maintaining Momentum in a Complex World. A few of the statistics from this report caught my attention: Global Wealth ended 2012 at $135.5 trillion. 39% of this wealth was held by 1% of all households. The number of millionaire households rose [...]

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