LA Times Business: Even so, from mid-2009, when the Great Recession ended, to 2011, the average net worth of the wealthiest 7% of households surged 28% to $3.2 million, according to Pew Research. For everybody else, such wealth — assets minus debts — fell 4% during that period to $133,817.
Since 2011, the disparity has grown. Stocks have jumped even higher in the last two years, according to data from Swiss financial services company Credit Suisse Group. And income statistics show a similar, though less dramatic, pattern.
Major corporations, meanwhile, have piled up millions of dollars in cash reserves.
The result is that inequality, which narrowed some during the recession as the stock market plummeted, has widened again and exacerbated a long-running problem that has surged to the forefront of public discourse for the rich and powerful gathered last week at the World Economic Forum in Davos, Switzerland, as well as for U.S. policymakers and ordinary Americans.
Ben had to do this because the LA Times was beggi9ng for more and more spending in DC, in fact, the LA Times editors are quite happy that the national debt nearly doubled.
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