30% of families in the USA have no net wealth

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As the FT notes this morning, Deutsche Bank have put out a big, long, 80-page note on “US Income and Wealth Inequality”. The FT borrows some of the charts. So do I.

Thirty per cent of US families have no non-home wealth:

Whilst the young are getting poorer:

And the rich are getting richer:

All of which is aided and abetted by tax cuts:

If anyone can find the Deutsche document (I could not, in haste) I'd be interested to see it.

The tale is not a pretty one.

But what will Deutsche do about it?

Answers on the back of ten dollar bills to suitable charities please.....