By Barry Ritholtz, The Big Picture
Just today, I overheard someone say that income inequality must not be that bad, because you only need a few $100,000 to be in the 99th percentile (see CNN/Money) — that works out to be about $343k to make the top 1%.
That is factually accurate, but misses the full wealth disparity issue. To see where the big bucks are, you need to look into the top 0.5%, 0.1%, 0.01% and lastly, and lastly, the top 0.001%.
The details of this were delightfully illustrated by Catherine Mulbrandon at TBP conference – PDF presentation here, video here.
Continue here: Barry Ritholtz, Forget the top 1% — Look at the top 0.1% | The Big Picture.
