No I don't see the problem, we all got way wealthier. Percentage of total doesn't matter at all because "total" is fundamentally illiquid. In 1970, only 9.7% of Americans were high income. Now the figure is 34.1%. That's incredible. https://t.co/sggYdoI2Tx
One key insight into these very high income households is they do best in bubble booms, like the 1920s where they controlled up to 45 percent of net worth, and the 1990s and 2000s, where they reached closer to 40 percent (although some studies found their assets reaching as high as 45 to 47 percent in recent peak years). (See Figure 1-18.)
