Friday, July 16, 2010
My ah-ha moment for the year....
According to this graph, sourced originally from Dailyfinance.com, 10% of the people in America controlled 90.3 % of the wealth in stocks, bonds and mutual funds in 2007. Wonder what that percentage is now? They seem to be on track to control 100%, leaving nothing at all for the rest of the 90% of the people - except for housing equity and cash savings, and we know how much of that there is going around.
Interested in an enlightening talk about the relationship between a Ponzi economy, deflation, depression, and peak oil? Check out Stoneleigh's presentation (minus the slides) to the Transition conference. Yes, you do have to listen an hour + presentation without visual aids. Buck up - I did it, and it was worth it.