American rich keep getting richer
Press TV – April 5, 2011
A group of 25 hedge fund executives in 2010 managed to earn a combined $22.1 billion — an amount equivalent to 441,400 American households each making $50,000 a year (roughly the current average).
This is one more example that the gap between the super-wealthy in the United States and the rest of Americans is growing wider and wider.
Considering that the median household size is 2.6 persons, that means that these 25 took home as much as the average of 1,150,000 Americans combined. That is bigger than the population of Dallas…or Rhode Island.
HIGHLIGHTS
Ten years ago, the same 25 Wall Street barons would have taken home a total of $5 billion. Now, a single hedge fund chief, John Paulson, was able to make that much ($4.9 billion) in 2010. Allgov
Paulson made billions during the worst of the financial downturn because he bet that the mortgage bubble would burst. Most of his profits in 2010 came from investing in gold, buying and selling stock in Citigroup…and collecting an estimated $1 billion in management fees. Allgov
“So many of these guys are killing it on the management fees,” said Bradley H. Alford, chief investment officer of Alpha Capital Management, which invests in hedge funds. “You can’t feel good giving 30 percent of your returns to some guy who was up single digits. That has to give you indigestion.” NY Times
FACTS & FIGURES
The hedge fund industry as a whole did not do better than the stock market last year, the HedgeFund Intelligence Global Composite Index, which tracks nearly 4,000 hedge funds around the world, had a median gain of 8 percent in 2010, trailing the 11.7 percent rise in the MSCI World Index of stocks and the 12.7 percent rise in the Standard & Poor’s 500-stock index. NY Times
The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year in terms of wealth rather than income, the top 1 percent control 40 percent. Investorshub
Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. Investorshub
While the top 1 percent have seen their incomes increased by 18 percent over the past decade, those in the middle have actually seen their incomes fall. Investorshub
All the growth in recent decades-and more-has gone to those at the top. Investorshub
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From the Archives
Revisionist History Books Banned by Amazon
By Michael Hoffman • Unz Review • August 25, 2018
On August 13, 2018 Amazon banned Judaism’s Strange Gods: Revised and Expanded, which was published in 2011 and sold by Amazon for the past seven years. Along with the much larger study, Judaism Discovered, (sold by Amazon since 2008), it has had an international impact both as a softcover volume as well as a digital book circulating on the Amazon Kindle.
Sales to India, Japan and the Middle East were rapidly growing. The digital Kindle format is particularly important for the free circulation of books because it bypasses borders and customs and hurdles over the prohibitive cost of shipping which the US Postal Service imposed on mail to overseas destinations several years ago (eliminating economical surface mail).
Amazon has also banned The Great Holocaust Trial: The Landmark Battle for the Right to Doubt the West’s Most Sacred Relic (sold by Amazon since 2010).
These volumes maintain a high standard of scholarly excellence, had a majority of favorable reviews by Amazon customers, are free of hatred and bigotry and have sold thousands of copies on Amazon. Out of the blue we were told that suddenly “Amazon KDP” discovered that the books are in violation of Amazon’s “content guidelines.” Asking for documentation of the charge results in no response. It is enough that the accusation has been tendered. The accused are guilty until proved innocent, although how proof of innocence is presented is anyone’s guess. There is no appeals process. This is what is known as “Tech Tyranny.”
There is a nationwide purge underway that amounts to a new McCarthyism — blacklisting and banning politically incorrect speech and history books under the rubric of “hate speech” accusations, initiated in part by two Zionist thought police organizations, the Southern Poverty Law Center (SPLC) and the Anti-Defamation League (ADL). It’s a flimsy pretext for censoring controversial scholarly books that can’t be refuted.
In addition to our books being hate-free, we note that there are hundreds of hate-filled Zionist and rabbinic books brimming with ferocious bigotry for Palestinians, Germans and goyim in general, which are sold by Amazon. … continue
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