The following two charts show the distribution of assets in the population, by observing the top 1%, P90-99 and Bottom 90%.
The asset allocation shows the high concentration of financial products (shares, bonds, life insurance). It is important to note that 10% to 20% of the population owns directly or indirectly (through mutual funds, pension funds, etc..) 90% of the shares, and thus of economic power over businesses. Observed elsewhere on the chart after holding shares in the U.S. :
One of our al’illustration About the previous section, concerning the « organization »of shareholders. 20 years ago, nearly 70% of shares were held directly or through trusts, this figure being only just over 40%. It has therefore been a « professionalization » of management equity portfolios: a manager now decides to replace 10 000 or 100 000 shareholders – which contributes to increased pressure on the economic system.
An illustration is provided by the following two charts on the number of millionaires and billionaires.
We observe that the number of billionaires has increased far more than the population, and that the share of wealth of the 400 largest fortunes in America almost tripled in 20 years. It is remarkable that it has not declined in recent years, the housing boom of 2002-2007 that benefited large majority in the rest of the population.
The following graph illustrates the distribution of inequalities in the population, by race.
The United States has, for example, « ethnic statistics ». We learn that 50% of whites have a heritage below $ 143 600, but that 50% of blacks is only $ 9 300. The gap goes from 1 to 100 for the median financial wealth among blacks as among Hispanics. The income gap is « only » 40% …