Comparison between current and ancient depiction of pyramids of wealth. The red portion of the bottom pyramid, inspired by Mesoamerican models, represents the blood, sweat and tears of the poor. The rectangular gold reflects the wealth of the elite. It is true that the current trade deficit of the U.S. … Continue reading
Category Archives: Economy
Bank of International Settlements (BIS)
Origin On January 20, 1930, at a Hague Convention, the governments of Germany, Belgium, France, the United Kingdom, Italy, Japan, and Switzerland created the BIS. The latter agreed to grant the Bank legal charter under Swiss law. Currently it is based in Basel, Switzerland and has representative offices in Hong … Continue reading
Inequality in the U.S. – 2024
Household net worth increased by $4.8 trillion in the third quarter of 2024, primarily driven by gains on corporate equity assets. The net worth of households and nonprofit organizations reached $168.8 trillion in the third quarter. In the U.S., the wealthiest half of households own about 97.5% of national wealth; … Continue reading
Historical Fiscal Deficits
As shown, fiscal deficits started to increase during the Vietnam War, and they haven’t stopped.
National Bankruptcies – Great Powers
Spain: 1557, 1560, 1575, and 1596, during the reign of Philip II (1556-1598). France: 1797 – the French Revolution, the rise of Napoleon. Great Britain: 1934 (defaulted on its World War I debt to the USA). In the wake of World War II, though technically not bankrupt, Britain accumulated a … Continue reading
Credit Suisse Global Wealth Pyramid 2022
A large base of low wealth holders underpins higher tiers occupied by progressively fewer adults. We estimate that 2.8 billion individuals – 53% of all adults in the world – had wealth below USD 10,000 in 2022. The next segment, covering those with wealth in the range of USD 10,000–100,000, … Continue reading
US Wealth Inequality 1990-2022
Over the past three decades the wealth held by the highest-earning 20% of Americans grew; in contrast, the wealth of those who earn less declined.