tag:blogger.com,1999:blog-4900303239154048192.post3436537164607283719..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: What Is Public Capital?Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4900303239154048192.post-28638543025025186682011-07-21T11:58:05.743-04:002011-07-21T11:58:05.743-04:00Ben:
Thanks for posting these statistics of income...Ben:<br />Thanks for posting these statistics of income and wealth.<br />i am very concerned, too, about this disparity.<br />How can a society flourish, or even exist decently with this type of income and wealth disparity? It doesn't matter if it is socialism or capitalism.<br />In fact, Karl Marx predicted this income disparity in capitalism would be our downfall.<br />In capitalism, man uses man.<br />In socialism, it's the reverse.<br />Don LevitDon Levithttps://www.blogger.com/profile/02497731736648561272noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-12031528073010440232011-07-18T17:07:41.579-04:002011-07-18T17:07:41.579-04:00Wikipedia has an entry, "German Public Banks&...Wikipedia has an entry, "German Public Banks" stating that "Based on OECD studies (2011), the German public banking system had a share of 40% of total banking assets in Germany." Landesbanks amount to 2/3rds of German public banking, and Sparkassen banks manage assets worth about half the amount of landesbanks, and the latter are local, decentralized and "In general, savings banks are not profit oriented."Ben Leethttps://www.blogger.com/profile/14058357566482675649noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-29991199049001953462011-07-17T15:51:40.779-04:002011-07-17T15:51:40.779-04:00Forgot to press button for follow ups. B.L.Forgot to press button for follow ups. B.L.Ben Leethttps://www.blogger.com/profile/14058357566482675649noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-32820157931250886282011-07-17T15:50:41.847-04:002011-07-17T15:50:41.847-04:00In Germany, the income distribution Gini Index is ...In Germany, the income distribution Gini Index is around 25, in the U.S. 46. This is explains why. <br />How much of total assets in U.S. banking system is held by the public sector? My guess is that it's well below 5%. In Germany it is half, you say. The control of financial resources determines the allocation of resources and the rules of the system. The hoarders of the world want to hoard, simple as that. The public sector wants to grow the public sector. Sylvia Allegretto's report State of Working America, Wealth, shows that the top 5% of households own 59.1% of "Net Worth", 79.2% of common stock excluding pensions, 69.2% All common stock, 76.1% of Non-equity financial assets, and 33.1% of housing equity. -- Too complicated for sure. But one in twenty own about 70% to 75% of all financial assets in the U.S. and about 60% of all assets. They determine how resources are allocated and how the economy operates. Even though per capita GDP is above $47,000, (which is about the German level also) the median personal AGI income is below $30,000 a year, while the average income is around $60,000. And the top ten percent of households' annual income is approximately equal to the bottom 90% of households's income, is about what you'd expect in a system designed and controlled by hoarders. A little crude, but not too far off.Ben Leethttps://www.blogger.com/profile/14058357566482675649noreply@blogger.com