Thursday, April 29, 2010

Debt is the New Wealth

This is what happens when you have a debt based economy.

According to the chart, out of the bottom 90 percent of Americans, 73.4% of whatever wealth they were able to accumulate is through debt. In comparsion, the top 1 percent only uses 5.4% in terms of debt, and the next 9 percent's total is 21.3%.

As the banks and hedge funds steal our money and we see our paychecks stagnate or disappear, the banks and hedge funds are happy to loan our money back to us, with interest.

[via jblanch3]


  1. that's not how I read that chart. The numbers sum to 100% horizontally, not vertically. Ie- 73% of total debt is held by the bottom 90% of earners.

    Assuming that I'm reading it correctly, it looks like a pretty worthless chart.

  2. could be right, I didn't look that closely at this one...