LOL, I knew you would move the goal posts.
So since according to your expert opinion, these studies are so flawed, please show me ANY study that you feel is well researched and proves what I said was way off base. I'm open to learning, so please link me to what you feel is a quality piece of information that isn't as flawed as these are. I mean you're so sure that I'm completely wrong, you must have a reason for it, lets see it. Post something......ANYTHING.
Move the goal posts? I've repeated the same questions through the conversation. Look, you don't care so I'm going to concede and let you claim victory. I have extensive experience in financial markets and wealth management, I'm not going to look up studies to show what I have personal knowledge of. But others may read this besides you, so I tell them what the issue is, you can ignore it and claim victory because you have an article that's supporting your religious liberal objectives. Win-win. There are two gaping holes in what they did.
They are not counting pensions or social security. People are getting checks for the rest of their lives and they are counting that as wealth of zero.
If they are counting homes, they are counting it at best at book value and not market value. The bottom half move far less frequently then the top half and not marking their homes to market is dramatically undervaluing them.
So of the two largest assets of the bottom half, if you don't count checks they will get the rest of their lives as wealth and and don't mark their homes to market, then I do believe you could get to 3% of all wealth.
Poor is not a bank balance. It is a lifestyle. People who don't save have less money, not people who earn less. What makes the rich rich is living below their means. What makes the poor poor is spending money they don't have. That is why pensions and homes are their primary assets, they sort of happen w/o effort. So yes, the top half have a very large portion of the wealth. But 3% if you count all assets and mark them to market is preposterous.
Now, you can show once again you don't care because you have no intellectual curiosity and my point contradicts your liberal religion and win the argument because if you don't have any actual content to provide or interest in learning anything I'm out.