 |
| Have a 150 grand lying around? |
Can you believe this? The Super rich have 288 times more savings than the normal American. Compound that by 4% and you have a pretty decent interest income. I must say I didn’t fully agree with all the hoopla surrounding the top 1% and all the wall street protesters, but the facts are very clear and right in front of our noses. The Super rich are richer by 288 times the median income. How can the top 1% be so abundantly prosperous and the average person not be? The economic system if taken to extremes will not sustain another meltdown.
Did you know that the system is based on good faith and that most of your money is not all accounted for in banks or brokerage firms. Let me explain a little further for those of you who do not know. Most financial institutions use about 80-90 % of your money to lend out to others or to re-invest again for their future gain. If the system were to collapse it could be the end of monetary policy as we know it. The actual figure the computer displays out to you and millions others just like you, is a figment of your imagination because guess what, you’re actual money is the mortgage of some other person and the bank is the administrator of your assets and another person’s debt.
I am not telling you all this so that you can run over to the bank tomorrow and hit the eject button on your money, but to get you to think a little bit about what is actually occurring behind the scenes. Things are not as rosey as the media is making it seem. One day it’s OMG we might go into another recession and the next day the media is all about how great of an economy we have. They can not seem to make up their minds or just maybe the powers from above and the ultra rich are making the media outlets run the happy go lucky stories so that a political / monetary uprising do not occur.
Richer by 288 X the median Average article: Net Worth Article
So if you can sit down and digest the article you just read in the link above about the super rich and the income disparity affecting our nation, How do you feel? Do you now feel a bit of compassion for the wall street protesters? Do you even care that somebody has 288 times more savings than you do?
RichUncle EL
Pic above is credited to Icon Airplane Co. Toys of the Super Rich!
