080914 PUDI Report

Regular reports on the growing Poverty, Unemployment, Debt and Inequality of the neo-capitalist world

USA:

“Data from the 2013 [Survey of Consumer Finances] confirm that the shares of income and wealth held by affluent families are at modern historically high levels,”

“The 2013 SCF reveals substantial disparities in the evolution of income and net worth since the previous time the survey was conducted, in 2010,”

“The 2010-2013 SCF found that even though real gross domestic product grew by 2.1 percent and civilian unemployment fell from 9.9 percent to 7.5 percent, only families at 'the very top of the income distribution saw widespread income gains,' though mean median income levels still lagged behind 2007 numbers.”

“... family in the middle income bracket (40th to 90th percentiles) saw 'very little' change in average real incomes and still have not recovered losses from 2010 and 2007. Families at the bottom of the income distribution continued to see “substantial declines” in average real incomes, a continuing trend from the previous two surveys.”

“The top percentile of Americans also increased their wealth share since 2010, corresponding to a loss in wealth for the bottom 90 percent of Americans, according to the Fed data.”

“The wealth share of the top 3 percent climbed from 44.8 percent in 1989 to 51.8 percent in 2007 and 54.4 percent in 2013. … The share of wealth held by the bottom 90 percent fell from 33.2 percent in 1989 to24.7 percent in 2013,”

http://www.washingtontimes.com/news/2014/sep/4/incomes-fell-most-families-past-three-years-while-/

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