winning...

I made a bet with my boss. He said that stocks (and bonds) are mostly owned by average joes, the wealth distributed amongst the people. He thinks that plutocracy and oligarchy are wild conspiracy myths. Lets see what outside sources have to report....

For some reason I doubt that a university professor from California will seem like a credible source, but he does supply these nice easy to read graphics....

Maybe CBS is more credible...
"The wealthiest 1 percent of Americans owned 33.6 percent of stock market wealth, while the poorest 80 percent owned less than 11 percent, according to an analysis of 2001 Federal Reserve data by economist Ed Wolff of New York University.

The 2.7 percent of Americans with household income above $250,000 owned 40.6 percent of market value, while the 59.2 percent of Americans who make less than $50,000 held 12.1 percent of stocks.

For the poorest 60 percent of American families, stocks accounted for less than 10 percent of total assets, compared with 28 percent of total assets of the wealthiest 1 percent. "

I think I win the bet...




Looks like we're heading to another depression....how depressing.

and here's a piece from AlterNet....let's see what they say about fracking....

here's a story that should be in the news, but I just got lucky with a surf

Meanwhile, Robert Reich voiced an opinion that I've been talking about and has inspired a Love your Gov initiative...don't drown Uncle Sam...imagine a bunch of fancy siuts trying to drown Uncle Sam in a big jacuzzi tub....and then rescued by a band of vets, cops, firefighters and teachers...when they rescue him they all chorus....a real patriot protects our goverment, OF, BY and FOR The People.....
and just the vets...against all enemies, foriegn and domestic....

Oops, wrong article above...the Reich blog, Dimon in the Rough should be a segway to further thoughts concerning democratic mundialization and the construction of a new social network charging a small subscription fee for the funding of new international organizations...