macro

Macro Viewpoints

Bad Year to be Responsibly Average

The Dow Jones has recovered all of its losses since the financial crisis and made a new all time high this week. Unfortunately, most of you reading this will have benefitted very little from its
dramatic comeback. However, there are a very few who have benefitted greatly. Professor G. William Domhoff of the University of California demonstrated that the richest 10% own 98.5% of all financial
securities. Furthermore the wealth gap between the top 20% and the rest of the population has never been larger. Finally, the growth in income disparity has accelerated under President Obama.