I’ve seen lots of charts like these before, and they’ve all been getting a lot worse since I started looking at them in the late 1990s. What I didn’t expect is for the business press to start getting worried about it.

Business Insider – 15 Mind-Blowing Facts About Wealth And Inequality In America

Oh, and the picture in Canada isn’t any better. Statscan.

This is scary for two reasons. First, it means far less money for most of the population – particularly the parts who tend to spend it, rather than hoard or invest it. Giving money to people who live paycheque-to-paycheque means it gets re-spent immediately. And making them poorer only drives everyone they spend money with into ruin as well. but the scarier reason is that the more money hoarded by a tiny elite who loans it back to the rest of us, the worse this will get.

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