I am just innocently curious, how much wealth, after adjustment for inflation the other 95% accumulated.
2007-09-08 17:06:49 · 6 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
"real income" has actually gone down every year but one while Bush has been in office. So, in principle, the average American is making less money than when Bush took office.
2007-09-08 17:29:45 · answer #1 · answered by truth seeker 7 · 0⤊ 0⤋
We fell for it. We refinanced our mortgages and bought stuff on credit and now we'll pay for a long long time.
It's not just us the consumers having mortgaged ourselves to the interest-only ARM, it's also that we as a nation have mortgaged ourselves to foreign investors, who expect to be paid back with interest.
The elite of the corporatocracy are becoming fabulously wealthy in the process. However the subprime mortgage situation shakes out in the end, you can be assured that the 5% you mention will have made a LOT of money when it's over. They took the loans they made to a bunch of suckers and sold them to a bunch more suckers. They got us coming and going.
2007-09-08 18:44:21 · answer #2 · answered by oimwoomwio 7 · 1⤊ 0⤋
the top 5 percent got it from the other 95 percent, that means wealth is decreasing or being siphoned off. people are in general becoming less wealthy.
RRRRR
2007-09-09 05:17:18 · answer #3 · answered by Anonymous · 1⤊ 0⤋
cut by 1/3
2007-09-08 17:13:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
the very simple concept is when there is a winner, there will always be a loser. the fiVe percent would have gained its wealth from the other ninety five percent.
2007-09-08 17:18:51 · answer #5 · answered by tourism researcher 3 · 0⤊ 0⤋
It ain't triple, I can tell you that much.
Proof that we live in an oligarchy, not a democracy. A real democracy is just Utopian, anyway. . . .
2007-09-08 17:17:33 · answer #6 · answered by Anonymous · 1⤊ 0⤋