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.....