Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Since the wealthiest 0.1% of the US population probably hold, directly or indirectly, over 70% of the total debt in the U.S. economy

Well, the private share of the US public debt is quite small, so the wealthiest 0.1% do not own it directly.


source: wikipedia

But, indirectly, since the top 1% own a huge share of the financial wealth, they certainly have a disproportionate influence on the economic and political decision-making.

source:Who Rules America: Wealth, Income, and Power

"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char

by Melanchthon on Fri Apr 16th, 2010 at 03:51:03 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

Does anyone care?

by Frank Schnittger - Oct 10
68 comments

Spain is not a democracy

by IdiotSavant - Oct 14
3 comments

The Blame Game

by Frank Schnittger - Oct 8
67 comments

EU-UK Relations: Trading Blows

by Oui - Oct 8
22 comments

John Major's Encore

by ARGeezer - Sep 27
29 comments

Occasional Series