Saturday, March 12, 2022

Claudia Sahm: "Not all oligarchs are Russian"

 From Stay-At-Home Macro

"A free-market economy in a democracy where elected officials ensure that our institutions, including markets, are fair is the BEST system. We do NOT live in that country. The rich are extraordinarily rich and politically powerful. It hurts us.

The top 1% of families by wealth control $44 trillion of wealth. The bottom 50% is only $3 trillion. THAT IS THIRTEEN TIMES MORE AT THE TOP."

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