The richest Americans have never controlled this much wealth:
The wealth of the top 0.00001% of Americans is up to a record ~12% of US national income.
National income measures the total income earned across the economy, including wages, business profits, and investment income.
This percentage has more than quadrupled since the 2008 Financial Crisis.
By comparison, this metric never exceeded 1% between the 1950s and the 1990s.
The surge has been fueled by record gains in the equity market and rising real estate prices.
Asset owners are the only winners.
@zerohedge That reminds me of the Player 218 from the Netflix series "Squid Game".
He leverage traded, lost everything and left with 6 billion won debt... It is a pity that those Koreans did not learn from their own movies...