The economy is growing in the US, so why are people still so unhappy and angry?
The chart below might be the answer.
The wealth inequality in the United States has never been as high since the 1930s as it is today, according a report published by Deutsche Bank. The chart below shows that wealth inequality has decreased since the end of the Second World War, but that it began to increase again since the 1980s.
From the 1980s onwards, world trade boomed and interest rates began to fall again. According to the report, the 0.1% richest Americans now have as much wealth as 90% of the population with the least wealth.
As you can see, the richest 0.1% of the population has doubled its wealth since the 1980s, from 10% to more than 20% of the total wealth of all households, while the lower 90% of the population saw its wealth share decrease from 35% to less than 25% of the total wealth of all households.
There are no signs of this changing anytime soon.
Source: US Inequality report by Deutsche Bank Markets Research
