A Closer Look

US / The Top 20% Own 72%; The Bottom 20%, 3%

The growing disparity in wealth made the great recession worse and the recovery weaker than ever before. This nation’s wealth disparity widened more than ever before over the last five years because of the steep decline in the value of residential homes and stagnant wages for the lower and middle income groups in the U.S., explained a member of the Federal Reserve Board, Sarah Bloom Raskin, in a speech that explored for the first time a fresh explanation about the obstacles holding back economic growth.

Chosen excerpts by Job Market Monitor

forbes

via The Wealthiest 20% Own 72%; The Poorest 20% Only 3% – Forbes.

Full article @:

FRB: Speech–Raskin, Aspects of Inequality in the Recent Business Cycle–April 18, 2013.

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