Income inequality, highest in 50 years

[Cuddles]

https://www.apnews.com/bfa51032ee27470c9f908914328eea99
Census: US inequality grew, including in heartland states

ORLANDO, Fla. (AP) — The gap between the haves and have-nots in the United States grew last year to its highest level in more than 50 years of tracking income inequality, according to U.S. Census Bureau figures released Thursday.

Full Coverage: Census 2020
Income inequality in the United States expanded from 2017 to 2018, with several heartland states among the leaders of the increase, even though several wealthy coastal states still had the most inequality overall, according to the figures.

The nation’s Gini Index, which measures income inequality, has been rising steadily over the past five decades.

The Gini Index grew from 0.482 in 2017 to 0.485 last year, according to the bureau’s one-year American Community Survey data. The Gini Index is on a scale of 0 to 1; a score of “0″ indicates perfect equality, while a score of 1 indicates perfect inequality, where one household has all the income.

https://www.axios.com/income-inequa...ord-c78b1ff4-4b71-4a88-a890-db20ff8222f3.html

U.S. income inequality surges to highest level in 50 years

Income inequality in the U.S. increased in 2018 to its highest level in the last 50 years of tracking the statistic, per an AP report on Census Bureau data.

Why it matters: Inequality has steadily climbed over the past 5 decades despite the country experiencing the longest period of economic expansion in its history.

By the numbers: The Gini Index measures income inequality on a scale from 0 to 1, with 0 representing maximum equality and 1 representing maximum inequality.

• The Gini Index increased from 0.482 in 2017 to 0.485 last year, despite household median incomes reaching a record high of almost $62,000.

The big picture: Wealth inequality surged in many heartland states last year, thanks to trade and agricultural policies, though coastal states still had the most inequality overall.

• Wealthy coastal areas like D.C., New York and Connecticut and areas with great poverty like Puerto Rico and Louisiana experienced the most income inequality.
• Utah, Alaska, Iowa, North Dakota and South Dakota were the most economically equal states.

 

[gkishot]

Yes, paychecks of Holywood actors and athletes keep going up.

 

[SPX Blaster]

I'm trying to qualify for a live account at FTMO as I don't have enough money to make trading worthwhile with my own money.

 

[BlueWaterSailor]

U.S. income inequality surges to highest level in 50 years

"GIT MAH 10-GAUGE, Maw! I told ye them durn immigrants was up to no good!"

• The Gini Index increased from 0.482 in 2017 to 0.485 last year

"...whaaa???

Put it away, Maw. Git mah flyswatter!"

 

[comagnum]

Here we are in October, the crash month with wealth inequality not see at this level since the peak of the 1929 stock market.

Ray Dalio's latest analysis : 1935-45 Analogue

1.) The largest wealth and political gaps since the late 1930s exist, which is leading to the emergence of and conflicts between populists of the left and populists of the right. If history and logic are to be our guides, it seems reasonable to worry that the gaps between the rich and the poor and the populists of the left and the populists of the right will become more war-like and that the consequences of their fighting could undermine the efficient operation of the economy as well as the efficient running of government. History has shown, logic suggests, and what seems to be happening is that the greater conflict leads to a) the reduced respect for both law and the art of compromise by our political leaders, and b) the increased testing of relative powers and the increased use of “emergency powers” to gain and use more power than these acts were intended for.

2.) There is limited ability of the world’s reserve currency central banks to stimulate the economy in the event of an economic downturn.

* Read the entire article, very enlightening. Dalio is a true student of the markets.

https://www.linkedin.com/pulse/threat-limit-capital-flows-china-pending-impeachment-conflict-dalio/

 

[KeLo]

it is not "rocket science."

"Low rates and quantitative easing programs help the ultra-wealthy because they artificially boost asset values, especially for riskier investments, and allow for cheap leverage. The ultra-wealthy can take advantage of record highs in the stock market while the asset-poor working class gets by on relatively stagnant hourly wages. Even risk-averse middle-class retirees are forced to buy bonds with artificially low interest rates just to make ends meet."

https://fortune.com/2019/05/02/fed-interest-rates-income-inequality/

Take a look at the inflated money supply.
https://fred.stlouisfed.org/series/M2

 

[expiated]

• Wealthy coastal areas like D.C., New York and Connecticut and areas with great poverty like Puerto Rico and Louisiana experienced the most income inequality.

• Utah, Alaska, Iowa, North Dakota and South Dakota were the most economically equal states.

The data speaks for itself...
D.C., New York, and Connecticut = Democratic control
Puerto Rico = 47% Popular Democratic Party, 47% New Progressive Party
Louisiana = Democratic executive branch, Republican legislature
Utah, Alaska, Iowa, North Dakota, and South Dakota = Republican control

 

[AKUMATOTENSHI]

Glad to see the plebian wage monkeys are not getting ahead. Let's hope a straight up caste system start up to really put things in order.

Welcome to Neofeudalism,

Akuma

 

[tomorton]

Income inequality is a fabricated and useless statistic. Like relative poverty.

You're either poor or you're not. Its not derogatory to call people poor who are poor. The real issue lies in what opportunities they have had in front of them to escape from poverty. Poor people in a place in the country which is also home to many rich people should have the same opportunities as anyone in any place.

 

[IAlwaysWin]

My generalized advise is to move out of cities with huge populations and move to the country. I live in Ohio and we in this state know that if you live in say Cleveland, the cost of rent is 180 times higher than that in a rural country village. The wealthy do business in these cities but live in the rural areas. Paying huge property taxes in these areas and getting tax breaks in the cities they do business in. The economic imbalance is very clear and this keeps the poor working to make the wealthy even wealthier.