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Net worth of richest Americans jumps 13%

THE net worth of the richest Americans grew by 13% in the past year to $1.7-trillion, Forbes magazine said yesterday, and a familiar cast of characters once again populated the top of the magazine’s annual list of the US ultra-elite, including Bill Gates, Warren Buffett and Larry Ellison.

The average net worth of the 400 wealthiest Americans rose to a record $4.2bn, the magazine said.

Collectively, this group’s net worth is the equivalent of one-eighth of the entire US economy, which stood at $13.56 -trillion in real terms according to the latest government data. But the 13% growth in the wealth of the richest Americans far outpaced that of the economy overall, helping to widen the chasm between rich and poor.

http://www.bdlive.co.za/world/americas/2012/09/20/net-worth-...



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This is the consequence of

This is the consequence of fiat (fake) money. As Hazlitt points out, paper money always facilitates a transfer from the poor and middle class to the rich. It also enables vast arrays of government schemes. This is why Hazlitt said the most important issue for us to win is the sound money issue, because so much that our government does would not be possible if they couldn't print money, especially war.

From my calculations it's 2.2%, in real terms they are down 10.6

4.2 billion / 1.7 trillion.

Gold is up 12.8% this year. The richest are losing wealth by 10.6% in just 8 1/2 months this year.

MSM are propaganda machines.

At Least

Income for the wealthy is going up to help ease some of the pain of the inflation you refer to. I haven't seen working poor or middle class wages going up 13% year over year to help accommodate.

Just saying..

It's not 13%, 4.2 billion divided by 1.7 trillion is 2.2%

But their wealth is down 10.6%.

Of course you won't hear anything else, that's not the Mainstream propaganda. I am not saying a majority of Americans are doing better either. But, their numbers in this article are wrong, do the math.

But, the people who invest in Gold and Silver, their wealth has increased gold by 12.8% and Silver by 19.6%, in dollars, in the first 8 1/2 months of this year.

Wake up America.

This is why the rich love

This is why the rich love quantitative easing. It boosts their asset prices before the inflation seeps down to the consumer economy, and they can make a killing.

Do the math, they are getting destroyed.

.

Many of the rich

like in Weimar Germany will get wiped out. We are having a flood of class warfare threads on the Daily Paul. Man, are we a bastion of free market economics or what?

May the LORD bless you and keep you
May the LORD make His face shed light upon you and be gracious unto you
May the LORD lift up His face unto you and give you peace
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Why is it class warfare when the working poor point out.........

.... they are getting screwed, but it is not class warfare when the rich keep making more?

http://www.sfgate.com/business/bloomberg/article/Romney-Invi...

Dunno

demagogues have an easier time leading the 'poor'? I have no clue. (sarcasm)

I talk with union guys all the time btw. They view Ron Paul people as.... REPUBLICANS, oh and people from the LP are Republicans too.

So maybe you should join them instead of championing free market economics because you won't get any support from them unless you educate them.

May the LORD bless you and keep you
May the LORD make His face shed light upon you and be gracious unto you
May the LORD lift up His face unto you and give you peace
Follow me on Twitter @ http://twitter.com/Burning_Sirius