Magic Act: Making the Super Rich Disappear

[marmar]

from Too Much: A Commentary on Excess and Inequality:



Magic Act: Making the Super Rich Disappear
June 17, 2012

The Federal Reserve has once again counted up America’s personal wealth — and omitted the nation’s 400 richest from the final tally. But the new figures, even with that omission, show a divide still deepening.

By Sam Pizzigati


In the middle of middle America — in a suburb just outside of Dayton, Ohio — funeral home owner Anne Dunbar has noticed a rather unnerving new trend.

Families used to want the obituary notices that Dunbar writes up to include a pitch for donations to their dear departed’s favorite charity. Some families are now requesting notices that ask for donations toward their funeral expenses.

You won’t find Anne Dunbar’s story — or any other anecdote about the collapse of America’s middle class — in the latest Changes in U.S. Family Finances study the Federal Reserve Board released last Monday.

What you will find: the most exhaustive set of numbers yet on the devastation that the Great Recession and decades of rising inequality have wreaked on average American families. ..................(more)

The complete piece is at: http://toomuchonline.org/magic-act-making-the-super-rich-disappear/

[siligut]

1. You can't read this and look at what is happening in Europe and not believe it was all planned

Thank you for the link.