The Stark Facts of Global Greed, a Disease as Challenging as Climate Change

http://www.alternet.org/economy/stark-facts-global-greed-disease-challenging-climate-change



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1. U.S. -- Even the Upper Middle Class Is Losing

In just three years, from 2011 to 2014, the bottom half of Americans lost almost half of their share of the nation's wealth, dropping from a 2.5% share to a 1.3% share (detail is here).

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2. U.S. -- In 3 Years, an Average of $5 Million Went To Every Household in the 1%

A closer look at the numbers shows the frightening extremes. The bottom half of America, according to GWD, owned $1.5 trillion in 2011. Now their wealth is down to $1.1 trillion. Much of their wealth is in housing equity, which was depleted by the recession.

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---In 3 years the average household in the top 1% (just over a million households) increased its net worth by about $4.5 million.

----In 3 years the average household in the top .1% (just over 100,000 households) increased its net worth by about $18 million.

----In 3 years the average household in the top .01% (12,000 households) increased its net worth by about $180 million.

----In 3 years the average member of the Forbes 400 increased his/her net worth by about $2 billion.

3. World -- 1% Wealth Grew from $100 Trillion to $127 Trillion in 3 Years

A stunning 95 percent of the world's population lost a share of its wealth over the past three years. Almost all of the gain went to the world's richest 1%.