Jackie is not rich but he wants to act like it. The rich throw you/us a bone Jackie and you get to scrap off the leftovers
http://sociology.ucsc.edu/whorulesam...er/wealth.html
Wealth, Income, and Power
by G. William Domhoff
This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators.
Some of the information may come as a surprise to many people. In fact, I know it will be a surprise and then some, because of a recent study (Norton & Ariely, 2010) showing that most Americans (high income or low income, female or male, young or old, Republican or Democrat) have no idea just how concentrated the wealth distribution actually is. More on that a bit later.
As far as the income distribution, the most striking numbers on income inequality will come last, showing the dramatic change in the ratio of the average CEO's paycheck to that of the average factory worker over the past 40 years.
Originally Posted by WTF
I'm going to read the article more thoroughly, probably tomorrow. I read enough to see that real estate is a large part of how wealth is evaluated in the study, and that the bottom 99% have suffered a 36% decline in wealth in the last decade. No doubt, a large portion of the decline in wealth for the bottom 99% is due to the housing bubble bursting. But the reality is that that market was artificially stimulated, and those houses were really never worth what they were selling for. It was a bubble.
Now as to the 0.1%, it seems they've always been there: George Washington, John Jacob Astor, Cornelius Vanderbilt, John D. Rockefeller, etc. And it's hard to believe that the gap today is worse than it was 100 years ago, but like I said, I'll read the article more thoroughly tomorrow when there is no SEC football.