The number of millionaires in the United States soared once again last year... millionaire households jumped to 8.4 million in 2010, increasing by 600,000 last year.
Now to contrast this rise in millionaires in 2010, we added 5,000,000 Americans to the national food stamp program.
The number of U.S. millionaires is back near its 2007 peak... at the same time, we have an underemployment rate more than 20 percent... and 45,000,000 Americans on food assistance.
While the primary source of wealth for the top 1 percent is stocks and this sector continues to improve thanks to bailouts and the Federal Reserve pumping easy money into investment banks, millions of other Americans are being kicked out of their homes that are losing value.
Americans have lost $6.3 trillion in household real estate wealth.
If your primary asset for your net worth is collapsing is it any wonder why the majority of the population does not feel this as any sort of economic recovery, even though the stock market is now up over 100 percent in a relatively short time frame.
People don’t need a doctorate in finance to figure out their incomes are declining and the quality of life for the middle class is shrinking.
How are we to stop the millionaire train, while more and more Americans depend on food assistance.
What about the investment banks... what austerity measures are they taking?
Their profits are even higher since they have unlimited access to Federal Reserve funds at zero percent interest rates.
Expect income disparity to continue, since with Obama we have another Wall Street run government.... and most all of this will not be broadcast on national television, which again is being controlled by the rich and powerful.
The financial scam of the century
