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Going from $1 to $2 is technically 100% growth but in reality it doesn’t mean much.
Someone posted this in politics. I pointed out that if you take out the top 1-5% and run those numbers again we will see a different picture. Wealth disparity didn't change much since the pandemic.
Because COVID killed a lot of people's parents, This is nothing to cheer about, you ghouls.
The "supporting data" are averages though, which are the fake news of statistics, so I suspect it's more to do with the richest 5% of the population owning the vast majority of the assets (stock, housing, etc).
Zuckerberg's wealth increased from 55 to 177 BILLION since 2020. If there are 100 million adults under 40 in the US, his growth alone represents $2,440 for every one of them. All you need to do is extrapolate the growth of the richest 1-5% assets and the bottom 95-99% are well behind where they were in 2020.
Remember! The corporatocracy-owned media exists to make you believe dystopia and poverty is actually freedom and prosperity.
Lots of great details in the short article.
Are there? Seems like kind of a shitty article to me, especially when it says nothing about the cost of living.
The numbers are inflation adjusted. One may disagree with official numbers capturing the "real" inflation, but inflation is the relative Cost of Living.
The article also gives a breakdown in where the gains were, and an estimate of how much net worth raise was from increases in home prices.
Nope. Cost of living is no longer tied to inflation in the U.S. Not since companies have figured out they can get away with endless price gouging.
https://www.vox.com/money/2023/11/8/23951098/economy-inflation-prices-job-market-sticker-shock
Now going to disagree, however inflation is cooling and consumers are beginning to realize that there are other options for them rather than paying what price gougers demand.