We broke him, boys and girls

[pat_k]

116. As bad as income inequality has gotten, asset inequality is mindblowing

First graph at the following link is a detailed graph of wealth by percentile. (Can click a year to see evolution.)
https://apps.urban.org/features/wealth-inequality-charts/

Other surveys look even worse:

When it comes to Americans’ actual net worth, 31% say their net worth is $0 or in the negative, meaning their total amount of liabilities meets or exceeds their assets. This trend is exaggerated among younger generations, in particular Gen Z, 41% of which have a net worth of $0 or less, along with 38% of millennials. More concerning, however, a significant population of aging Americans, those who may soon be looking to retire, also report having a net worth of $0 or less (21% of respondents aged 59 and above).

This could have something to do with the state of consumers’ retirement accounts. According to the study, nearly one-in-five respondents aged 59 and above (19%) don’t have a retirement account, the highest percentage of any generation. Another 5% of respondents in this age bracket say they can’t afford to contribute to their retirement account at all. Of those within this group who are employed and are saving for retirement, 17% say they’ve decreased their contributions to their retirement accounts as a result of inflation.