( – promoted by buhdydharma )
I’m not exactly easy to amaze about economic inequality in the USA, but I have to admit that my eyes literally bulged out of my head when I saw this bar graph from the Federal Reserve Board’s Survey of Consumer Finances (via Wolff, 2010).
Median net worth for white households is $143,600.
Median net worth for black households in $9,300.
Median net worth for Latino households is $9,100.
Inequality in net worth dwarfs income inequality, with a ratio between whites and blacks or Latinos of about 15 to 1, and when you leave housing equity out of the mix, as in the third set of bars above, the ratio of financial equity, stocks, bonds, and money in the bank, increases to more than 80 to 1.